Advantest Corporation (ATE) is a Japanese maker of automatic test equipment for the semiconductor industry, on Friday reported a decline in net profit for the full year.
Sales too declined on weakening of the semiconductor market that led to excess capacity among many customers' supply chains, causing demand for the company products to decline significantly.
For the 12-month period to March 31, the company posted a net profit of 62.290 billion yen or 84.16 yen per share, lesser than 130.400 billion yen or 173.68 yen per share, registered last year.
Pre-tax income was at 78.170 billion yen as against previous year's 171.270 billion yen.
Operating income plunged to 81.628 billion yen from 167.687 billion yen in 2023.
Net sales declined to 486.507 billion yen from 560.191 billion yen a year ago.
Looking ahead, Advantest expects semiconductor market to pick up in the second half of the calendar year, as the supply-demand balance for semiconductors is anticipated to improve and investments related to generative AI are projected to become more active.
For the full year, the company expects a net profit of 67 billion yen, up 7.6 percent from last year.
Operating income is projected to be at 90 billion yen, up 10.3 percent from previous year.
Advantest projects annual sales of 525 billion yen, up 7.9 percent from a year ago.
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