Results
ASM International reports Q3 2004 net sales at EUR183.8mn (+24.7% on Q3 2003) and net earnings of EUR3.7mn. In Q3 2003, a net loss of EUR9.7mn was recorded. Bookings in the most recent quarter came to EUR157.1mn, a 20.1% increase on Q3 2003.
The company expects net sales in the front-end segment to increase in Q4 2004, but also reports that order intake in the back-end sector has weakened. Overall sales in Q4 2004 are forecast to be down on Q3 2004. Also, a weakening semiconductor market would be expected to impact ASM's sales and net result. On the basis of reorganisation and a lower cost structure, ASM expects its front-end operation to achieve positive earnings in 2005.
SEZ reports Q3 2004 net sales at CHF83.0mn, compared with CHF39.1mn in Q3 2003. Net profit was CHF10.6mn compared with a net loss of CHF3.4mn in 2003. Order intake was CHF83.0mn (book-to-bill 0.99) and backlog at the end of Q3 2004 was CHF88.9mn.
The company states: "In contrast to market expectations, SEZ did not witness any flattening or delaying of investment activities surrounding single-wafer wet processing equipment from leading foundries during Q3." SEZ has raised its sales forecast for 2004 to CHF300mn, but its earnings before interest and tax (EBIT) margin has been reduced to 14-15%.
LSI Logic is to reduce its workforce by 11%, representing 510 positions.
