Asm Intl Nv (LSE:ASMI)
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Dutch semiconductor equipment maker ASM International NV (ASMI) Wednesday posted a second-quarter net loss on declining sales, restructuring costs and an impairment charge, but said that sales and order intake were up quarter-on-quarter and that visibility in the chip market is improving, albeit limited.

"While visibility is improving, it continues to be limited, thus the timing of potential orders is still difficult to predict," the company said.

ASMI reported a second-quarter net loss of EUR55.7 million, compared with a net loss of EUR23.3 million in the previous quarter and a net profit of EUR9.6 million a year earlier. In addition to declining sales, the loss was the result of EUR15.4 million restructuring expenses and an inventory impairment charge of EUR20.6 million.

Sales in the quarter came in at EUR119.5 million, from EUR89.1 million in the first quarter of 2009, while bookings were EUR155.8 million, up 85% from the previous quarter.

However, the performance at ASMI's two divisions differed sharply, as sales at its back-end unit more than doubled quarter-on-quarter, while its front-end unit saw sales plunged 40% in the same period.

ASMI consists of a front-end division, which makes equipment to produce semiconductors, and a back-end division which assembles and packages the chips.

The company said that it expects third-quarter operating results will continue to mirror the divergent market and customer basis of these two units and that, for the third quarter, it sees "some modest improvement" at front-end, while back-end "should continue to benefit from the strong rebound in customer demand."

ASMI's results come as European chip makers are more upbeat about prospects for the next quarter, joining a growing number of companies in the semiconductor industry that see a bottom to the slump.

Earlier Wednesday, Germany's Infineon Technologies AG (IFX.XE) posted a significantly narrower third-quarter net loss and said that it expects to improve sales further in the current fourth quarter, underpinned by growth in its automotive, industrial and multimarket segments.

Late Tuesday, Swiss-based STMicroelectronics NV (STM) posted its sixth consecutive loss, but Chief Executive Carlo Bozotti said Wednesday that he expects the chip market as a whole to decline less than previously forecast.

ASMI shares closed at EUR11.66 Wednesday.

-By Maarten van Tartwijk; Dow Jones Newswires; +31-20-5715-221; maarten.vantartwijk@dowjones.com