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Investing.com -- SCREEN Holdings reported a 12% year-on-year decline in first-quarter operating profit to ¥24.4 billion, missing market estimates, according to the company’s Q1 FY3/26 results released Thursday.
Sales increased 1.2% to ¥135.7 billion compared to the same period last year. The results showed relatively low progress against the company’s first-half guidance of ¥299.5 billion in sales and ¥54.5 billion in operating profit, though SCREEN stated the performance was in line with its expectations.
Market analysts had estimated sales of ¥151.6 billion and operating profit of ¥29.8 billion for the quarter.
The company’s Semiconductor Production Equipment (SPE) segment recorded sales of ¥109.5 billion with an operating profit of ¥25.7 billion, representing an operating profit margin of 23.4%. While Taiwanese sales increased, both Chinese and US sales declined. By application, foundry sales eased.
Chinese sales were estimated at ¥36 billion in the first quarter, down 37% year-on-year and 26% quarter-on-quarter. The Chinese business accounted for 33% of total sales in Q1, with SCREEN expecting this ratio to reach 44% in the first half as initially planned due to anticipated Chinese deals in the second quarter.
SCREEN maintained its full-year FY3/26 outlook with operating profit projected at ¥117.0 billion, down 4% year-on-year. The company expects a 3.4% year-on-year decline in SPE sales.
For the wafer fabrication equipment (WFE) market, SCREEN forecasts flat spending in 2025 at $110 billion, with low single-digit growth expected in 2026. The company anticipates foundry will continue to drive growth, with some revision activity for logic investment plans.
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