ASM fourth-quarter profit misses analysts' estimates

Wed Feb 26, 2014 6:28pm EST

Feb 26 (Reuters) - ASM International, semiconductor equipment maker, reported lower-than-expected quarterly profit, but said it expects double-digit rise in the first two quarters of 2014.

Amsterdam-listed ASMI said normalized net earnings was 9.3 million euros ($12.7 million) in the fourth quarter.

Revenue rose 9 percent to 126.9 million euros in the quarter compared with the third quarter.

Analysts in a poll commissioned by Reuters had expected a net profit of 15.2 million euros on sales of 121 million euros.

New orders increased 19 percent to 133.1 million euros in the fourth quarter compared with the third quarter.

ASMI raised 422 million euros a year ago when it sold 12 percent of ASM Pacific Technology to institutional investors in a share placement, leaving it with a 40 percent stake in the Hong Kong business.