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BE Semiconductor Industries (Besi) is holding its ground in rather difficult market conditions. Third-quarter revenue of 89.7 million euros is down 3.2 percent with respect to the previous year but the Duiven-based company had guided much worse (-10 percent). The better than anticipated performance was due to Chinese subcontractors looking for alternative suppliers of epoxy die-bonding systems in light of the US-China trade tensions. Overall, these tensions still sour the market, though, as shown by Besi’s Q3 revenue being down 23.1 percent year on year.
Q3 orders of 82.2 million euros were roughly flat in comparison to Q2, which may be considered a win as the third quarter is typically weaker on a sequential basis. Demand for high-end mobile and automotive applications is still low but this was partially offset by server logic. All in all, Besi maintains a cautious outlook, estimating Q4 will equal Q3 plus or minus 5 percent.
