ASMI posts revenue above estimates as demand for chip equipment rises

July 25 Wed Jul 24, 2013 6:44pm EDT

Related Topics

July 25 (Reuters) - Dutch semiconductor equipment maker ASM International NV on Thursday reported better-than-expected second-quarter revenue as demand for its products rose.

Sales rose 48.6 percent to 128.6 million euros ($170.2 million).

Amsterdam-listed ASMI, which produces silicon chips, reported normalized net earnings of 17.4 million euros, compared with $17.7 million euros, a year ago.

Normalized earnings exclude remeasurement gain, realized gain from the sale of stake in its Hong Kong-listed unit ASM Pacific Technology (ASMPT), amortization and fair value adjustments.

Analysts in a poll commissioned by Reuters had forecast second-quarter net profit of 13.5 million euros on sales of 94.7 million euros.

ASMI raised 422 million euros from the sale of a 12 percent stake in ASMPT, to institutional investors in March.

The sale left ASMI with a 40 percent stake in ASMPT, which consists of the back end - the dicing and packaging of microchips - of the business.

ASMI said it expects third-quarter order intake to show a double-digit decrease from the second quarter. ($1 = 0.7555 euros) (Reporting by Neha Alawadhi in Bangalore; Editing by Sriraj Kalluvila)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.