ASMPT Swings to Loss in Q3 on Hit from Restructuring, Inventory Write-Off
MT Newswires Live
Oct 29
ASMPT (HKG:0522) posted a net loss of HK$268.6 million, or HK$0.65 per basic share, in the third quarter ended Sept. 30, reversing a net profit of HK$23.8 million a year earlier.
The swing to loss reflected restructuring costs and inventory write-offs totaling HK$370.5 million, mainly linked to the voluntary liquidation of subsidiary ASMPT Equipment (Shenzhen), according to a Tuesday filing to the Hong Kong Stock Exchange.
The chip gear maker's quarterly revenue rose 9.5% year over year to HK$3.66 billion, while bookings increased 14.2% to HK$3.62 billion.
For the fourth quarter, ASMPT expects to generate between $470 million and $530 million in revenue.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.