By Adria Calatayud
BE Semiconductor Industries shares fell after the company reported fourth-quarter revenue that was below analysts' expectations, hit by lower demand for automotive applications, and projected another decline this quarter.
Shares in the Dutch supplier of equipment to the semiconductor industry were down 5.9% at 109.40 euros European morning trade Thursday, having dropped 10% earlier, and fell about 29% over the past year.
The company, also known as Besi, said revenue for the fourth quarter was 153.4 million euros ($159.9 million), down 2% compared with the year-earlier period. Analysts polled by Visible Alpha expected revenue of 160.9 million euros.
Net profit jumped 27% to 59.3 million euros, boosted by a tax benefit. Gross margin declined by 0.7 percentage points to 64%.
"Besi's fourth quarter results were adversely affected by ongoing weakness in mainstream assembly markets, seasonal influences and lower demand for hybrid bonding and photonics applications as customers digested capacity added in 2024," Chief Executive and President Richard W. Blickman said.
A mainstream assembly recovery is likely to begin in the second half of 2025, Blickman said.
For the first quarter, Besi projects a decline of up to 10% in revenue relative to the fourth quarter and a gross margin of 63% to 65%.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
February 20, 2025 03:43 ET (08:43 GMT)
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