ASMPT Third-Quarter Profit Fell Amid Semiconductor Industry Weakness

Dow Jones2023-10-25

By P.R. Venkat

Hardware and software solutions provider ASMPT's third-quarter net profit fell sharply due to poor consumer spending and prolonged industry weakness.

Net profit for the quarter fell nearly 98% from a year earlier to 14.63 million Hong Kong dollars (US$1.9 million), while revenue was HK$3.47 billion, down about 24.0%, ASMPT said Wednesday.

Profit margins from semiconductor solutions and surface mount technology solutions fell sharply due to "prolonged industry weakness, with demand-supply dynamics yet to turn favorable amidst conservative consumer sentiment," the company said.

For the fourth quarter, the company guided for revenue to come in between US$390.0 million and US$460.0 million.

"In the short term, weak economy and end-market electronics demand will continue to prolong the industry inventory adjustment and constrain the capital spending of our customer base," ASMPT said.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

October 24, 2023 20:13 ET (00:13 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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Venkat \n</p>\n<pre>\n \n</pre>\n<p>\n  Hardware and software solutions provider <a href=\"https://laohu8.com/S/00522\">ASMPT</a>'s third-quarter net profit fell sharply due to poor consumer spending and prolonged industry weakness. \n</p>\n<p>\n  Net profit for the quarter fell nearly 98% from a year earlier to 14.63 million Hong Kong dollars (US$1.9 million), while revenue was HK$3.47 billion, down about 24.0%, ASMPT said Wednesday. \n</p>\n<p>\n  Profit margins from semiconductor solutions and surface mount technology solutions fell sharply due to \"prolonged industry weakness, with demand-supply dynamics yet to turn favorable amidst conservative consumer sentiment,\" the company said. \n</p>\n<p>\n  For the fourth quarter, the company guided for revenue to come in between US$390.0 million and US$460.0 million. \n</p>\n<p>\n  \"In the short term, weak economy and end-market electronics demand will continue to prolong the industry inventory adjustment and constrain the capital spending of our customer base,\" ASMPT said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to P.R. 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Venkat \n\n\n \n\n\n  Hardware and software solutions provider ASMPT's third-quarter net profit fell sharply due to poor consumer spending and prolonged industry weakness. \n\n\n  Net profit for the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00522","symbol_name":"ASMPT","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2378052640","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2378052640","pubTimestamp":1698192780,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Hardware and software solutions provider ASMPT's third-quarter net profit fell sharply due to poor consumer spending and prolonged industry weakness.Net profit for the quarter fell nearly 98% from a year earlier to 14.63 million Hong Kong dollars , while revenue was HK$3.47 billion, down about 24.0%, ASMPT said Wednesday.Profit margins from semiconductor solutions and surface mount technology solutions fell sharply due to \"prolonged industry weakness, with demand-supply dynamics yet to turn favorable amidst conservative consumer sentiment,\" the company said.For the fourth quarter, the company guided for revenue to come in between US$390.0 million and US$460.0 million.\"In the short term, weak economy and end-market electronics demand will continue to prolong the industry inventory adjustment and constrain the capital spending of our customer base,\" ASMPT said.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00522":"ASMPT","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","BK1589":"北水核心资产","BK1169":"半导体设备"},"translate_title":"半导体行业疲软导致ASMPT第三季度利润下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00522":0.9},"content_text":"By P.R. Venkat \n\n\n \n\n\n  Hardware and software solutions provider ASMPT's third-quarter net profit fell sharply due to poor consumer spending and prolonged industry weakness. \n\n\n  Net profit for the quarter fell nearly 98% from a year earlier to 14.63 million Hong Kong dollars (US$1.9 million), while revenue was HK$3.47 billion, down about 24.0%, ASMPT said Wednesday. \n\n\n  Profit margins from semiconductor solutions and surface mount technology solutions fell sharply due to \"prolonged industry weakness, with demand-supply dynamics yet to turn favorable amidst conservative consumer sentiment,\" the company said. \n\n\n  For the fourth quarter, the company guided for revenue to come in between US$390.0 million and US$460.0 million. \n\n\n  \"In the short term, weak economy and end-market electronics demand will continue to prolong the industry inventory adjustment and constrain the capital spending of our customer base,\" ASMPT said. \n\n\n \n\n\n  Write to P.R. 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