By Dina Kartit
(Reuters) – Dutch semiconductor equipment maker ASM International on Tuesday reported a drop in first-quarter orders, citing softening market conditions, despite revenue beating estimate.
The Amsterdam-listed company registered orders totalling 647.4 million euros ($710.20 million), down 20% at constant currencies from the previous quarter and well below the 705.7 million euros in the same period last year.
“Demand in the memory market further weakened in Q1 and is expected to remain at low levels in the remainder of the year,” said Chief Executive Officer Benjamin Loh in a statement.
Logic and foundry demand for advanced nodes has also seen a number of “push-outs reflecting softer end-market conditions and some delays in new customer fab readiness,” added Loh.
The group expects these “push-outs” to impact order estimates in the second and third quarters of the year.
It sees second quarter revenue ranging from 650 million to 690 million euros and a decrease in sales for the second half of the year of 10% or more compared to the first half.
But, for 2023 overall, ASMI forecast a single-digit increase in revenues, at constant currencies and including the acquisition of Italy-based LPE in July.
ASMI’s first-quarter revenue came in at 710 million euros, above guidance of 660-700 million euros announced in February, beating analysts’ consensus estimate of 688.54 million euros, according to Refinitiv.
($1 = 0.9116 euros)
(Reporting by Dina Kartit; Editing by David Goodman and Mark Potter)
