:Wafer processing equipment supplier ASM International (ASMI) on Tuesday raised its revenue forecast for the second quarter of the year, citing stronger-than-expected Chinese demand and higher sales in advanced logic and memory.
ASMI said it now expected revenue in the quarter between 660 million euros and 700 million euros ($706 million to $749 million) at constant currencies, compared with 600-640 million euros previously.
“We still expect sales from the Chinese market in the second half to be lower, but the decrease will be more moderate than we previously anticipated,” the company said in a statement.
Sales in advance logic and foundry equipment, mostly for ASMI’s technology for gate-all-around transistors, and in the memory segment are also expected to rise over the second half of the year, while its silicon carbide tooling, used to extend the range of electric vehicles is expected to grow by double-digits in 2024, it said.
For the first quarter, ASMI reported 698 million euros in orders, against a 658 million euro analyst consensus forecast provided by researcher Visible Alpha.
($1 = 0.9349 euros)
