Chip machinery maker ASMI profit falls 40% in Q4

Chip industry supplier ASM International saw net profit fall 40% in the final quarter of 2011 to €15m.

The company blamed poor market conditions at its assembly and packaging arm, plus a downturn in orders for chip making machinery.
Turnover will also be down in the first quarter of this year but will recover later, the company said in a statement.
ASMI is also starting a share buy-back programme (up to two million common shares) to cover outstanding personnel options and will propose increasing the dividend from €0.40 to €0.50.