ASMI returns to profit in 2004
The company had made a euro 32.1 million loss in 2003. The company also experienced a significant rise in bookings in 2004, up 16.3% to euro 742 million.
The results would have been even better if it wasn't for a slow fourth quarter, during which net sales fell 11.5% sequentially and 0.6% year-onyear.
At euro 1.4 million, fourth quarter earnings were down on the previous quarter (euro 3.7 million) but up on the same period last year (-6.2 million). Bookings in the fourth quarter fell 19.2% sequentially to euro 127 million.
One reason for the stagnant fourth quarter results was that the company suffered a decline in its back-end sales. The company has also been hit by the market slowdown.
The first quarter of 2005 is likely to be even tougher, ASMI forecasting lower revenues and earnings. But the company believes the market will pick up from the second quarter of 2005 onwards and is forecasting that its front-end business will grow during 2005.
