ASM Pacific Tech quarterly net jumps to HK$522m

ASM Pacific Technology (0522) announced that first-quarter net profit skyrocketed over 21 times to HK$521.5 million year-on-year.

The basic earnings per share were HK$1.27.

Bookings surged to all-time high at HK$7.83 billion, rising by 73.4 percent. The backlog was HK$9.38 billion.

Revenue grew by 45.6 percent at HK$4.34 billion. Half of the revenue came from China. Contributions from Taiwan, Korea and Thailand increased.

The gross profit margin jumped by 268 basis points to 39.6 percent, mainly due to a relatively higher segment revenue mix contribution from the semiconductor solutions segment.

ASM Pacific reported record cash and bank deposits of HK$4.61 billion as of March 31.

The company expects revenue of US$600 million (HK$4.68 billion) to US$650 million in the second quarter, back by a strong backlog.