ASMI expects Chinese sales to drop 40% on U.S. chip sanctions

ASM International expects new U.S. export restrictions to weigh heavily on its sales in China, the Dutch semiconductor supplier said on Tuesday as it reported third-quarter revenue slightly above its own forecast.

July-September revenue increased 33% year-on-year to 610 million euros ($607.38 million), beating the company’s guided range of 570 million to 600 million euros, while new quarterly orders came in at 676 million euros, adjusted for the expected negative impact of the recent U.S. export restrictions.