Downturn hits earnings

PUBLISHED : Friday, 07 October, 2005, 12:00am
UPDATED : Friday, 07 October, 2005, 12:00am

Toolmaker ASM Pacific Technology reported a 47 per cent decline in first-half earnings to $323.6 million, due to a slump in the assembly equipment manufacturing industry.

The company, which makes machines used in the assembly and packaging of semiconductors, said first-half turnover came to $1.45 billion, a year-on-year fall of 36 per cent.

The company said its order backlog stood at more than US$80 million at the end of June.'The assembly and packaging equipment industry has regained strength since March 2005, and ASM has experienced much stronger inflows of orders in the past few months,' ASM Pacific managing director Patrick Lam said.