ASM International sees stable revenues in the first quarter

(Reuters) - ASM International on Tuesday forecast broadly stable revenues in the first quarter versus the end of 2023, and predicted growth later in 2024 as the semiconductor market recovers, despite softness in wafer fab equipment.

The semiconductor equipment maker forecast first-quarter revenues of 600-640 million euros ($651-695 million).

The Dutch group also reported fourth-quarter revenues of 632.9 million euros, down from 724.8 million in the same period the year before, but within the company's guidance range of 600-640 million.

Analysts' average forecast in an LSEG poll was 626.3 million euros.

New orders came in at 677.5 million euros in the last three months of 2023, against 627.4 million in the third quarter.

($1 = 0.9213 euros)

(Reporting by Dagmarah Mackos; Editing by Mark Potter)