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ASM International sees Q3 revenue drop on lower orders
July 24, 2014 / 6:50 AM / in 3 years

ASM International sees Q3 revenue drop on lower orders

AMSTERDAM, July 24 (Reuters) - Dutch chip equipment maker ASM International said on Thursday its third-quarter revenue would fall after its orders dropped by a third.

ASM said it expected a double-digit decrease from its second-quarter sales of 148.4 million euros ($199.5 million).

“We have seen that some of our customers are absorbing the investments that they have made in the last quarters, which drove the lower order intake in the second quarter,” ASM Chief Executive Chuck del Prado said in a statement.

The company’s second-quarter net profit rose to 34.6 million euros from 27.1 million in the first quarter, mainly due to higher results from investments.

Analysts polled by Reuters had on average expected a net profit of 28.6 million euros, with estimates of four analysts ranging from 21 million to 37.6 million.

Last week Dutch peer ASML cut its full-year outlook, saying its customers, which include Samsung Electronics Co Ltd, Intel Corp and Taiwan Semiconductor Manufacturing Co Ltd (TSMC), had delayed purchases into 2015. ($1 = 0.7439 Euros) (Reporting by Harro ten Wolde; Editing by David Holmes)

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