July 3, 2018 / 6:56 AM / 10 months ago

BE Semiconductor Industries cuts forecast after orders cancelled

July 3 (Reuters) - BE Semiconductor Industries (Besi) said on Tuesday revenue growth in the second quarter would miss its expectations due to the cancellation of orders worth 28 million euros ($32.59 million).

The Dutch manufacturer of assembly equipment for the semiconductor industry now expects revenue for the second quarter to increase by about 4 percent compared with the first quarter, down from an earlier forecast of 10-15 percent growth.

“The orders were from a single customer for high-end smartphone applications,” the company said in a statement on Tuesday.

Based on preliminary estimates, Besi forecasts that its first-half revenue for 2018 will rise 13 percent compared with the same period in 2017.

In April the company said it first-half revenue expected to increase by about 17 percent compared with 2017. ($1 = 0.8590 euros) (Reporting by Clement Martinot, editing by Louise Heavens)

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