ASM Pacific Technology hits record US$1.01b bookings in Q1

It surpassed its US$700m booking guidance for the quarter.

The ASM Pacific Technology Limited (ASMPT) reported its bookings posted $7.83b (US$1.01b), exceeding its booking guidance of more than US$700m in the first quarter.

This reflected a 73.4% year-on-year and 86.4% quarter-on-quarter growth, which ASMPT linked to its semiconductor solutions segment.

The segment achieved $5.31b record bookings in the first quarter, up by 120.4% yoy; whilst the SMT solutions segment’s bookings were at an all-time high of $2.52b.

The group generated a $4.34b revenue for the quarter, attributed to a broad range of factors, such as customers investment in capacity expansion as well as the recovery for automotive and industrial applications.

Moreover, its net profit for the quarter rose to $528.4m, compared to the $25.5m in the same quarter last year. Basic earnings per share amounted to $1.27 from $0.06.

“Year 2020 was a tumultuous one, but we managed to close it off quite well. I am very pleased that our performance this quarter continues to achieve new heights. With the world’s appetite for silicon showing no sign of slowing down, our market position, our technologies and the fundamentals driving our business and future prospects continue to look bright,” Robin Ng, CEO, ASMPT, said.

The group also sees a strong performance for its second quarter, expecting its revenue to stay within the US$600m-US$650m.