Lasertec Shares Jump After It Posts Record Profit, Projects Further Growth

By Kosaku Narioka

Lasertec Corp.'s shares rose sharply Monday morning after the maker of equipment used in semiconductor production posted a record fiscal-year net profit and projected further growth in the new fiscal year.

The shares were recently 8.3% higher at 21,320 yen after rising as much as 9.2% earlier.

Lasertec said Friday after the market closed that net profit increased 29% to 24.85 billion yen ($184.1 million) for the fiscal year ended June 30. Revenue climbed 29% to Y90.38 billion and a backlog of orders surged to Y369.20 billion as of end-June.

"We are receiving orders that exceed our manufacturing capacity," Lasertec President Osamu Okabayashi said at a briefing.

Lasertec said new chip plants are being planned in different countries due to rising risks to economic security and growing concerns over the supply of semiconductors around the world.

Lasertec projected revenue to rise 55% and net profit to increase 33% for the new fiscal year that started July 1.

The Topix subindex for electronics makers was recently 0.1% lower and the Nikkei Stock Average was up 0.1%.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

08-07-22 2248ET