Asetek provides earnings guidance for the full year 2023. The company expects to report an increase in Group revenue for 2023 in the range of 40% to 45% compared with 2022, and a projected operating income of $7 to $9 million. The updated expectations primarily reflect increased OEM sales to end- users, high product release activity in 2023 and sales forecasts for the second half of the year.

The previous full year revenue and operating income expectations communicated on June 7, were for revenue growth for 2023 in the range of 25% to 35% compared with 2022, and a projected operating income between $5 and $7 million.