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After a stronger-than-anticpated Q1 2020 result, BE Semiconductor Industries (Besi) crushed its Q2 expectations of 5-25 percent growth. The Duiven-based semiconductor equipment manufacturer brought in revenue of more than 124 million euros this quarter, an increase of 36 percent sequentially and 34 percent year on year. Adding on to the good news, the company also reported a net income of almost 40 million euros, up 186 percent compared to last quarter and 110 percent increase over the same quarter last year.
While H1 2020 has proven to be a strong start to the year, expectations have waned for the third quarter of 2020. Q2 orders have dropped to 101 million euros, which accounts for a 15 decrease from Q1. Additionally, the company expects revenue to decrease by 10-25 percent sequentially. This is attributed to typical seasonal influences, lower demand for mobile applications post H1 2020 build and the ongoing uncertainty caused by the COVID-19 pandemic.