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ISC Reports Sharp Decline in Q2 Earnings Amid Reduced Chip Production

Company anticipates market recovery in logic chips by Q3 and memory chips by Q4
South Korea
i 095340.KQ Mid and Small Cap 2000 Semicon 75 Tech 350
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ISC announced on Monday that it recorded 36 billion won in revenue and 6.5 billion won in operating profit for the second quarter. This represents a significant year-over-year decline, with revenue dropping by 34.4% and operating profit plummeting by 71.7%.

The company attributed the downturn to reduced production output and price drops among its customers. During the quarter, both memory and logic chip manufacturers scaled back their production and facility investments, impacting ISC’s earnings.

Despite the overall decline, ISC reported an increase in orders for high-end chip test sockets used in XR, AI, and data center packaging, indicating some growth in advanced technology segments.

Looking ahead, ISC forecasts a weaker performance in the second half compared to last year. However, the company expects a recovery in the logic chip market by the third quarter and in the memory chip market by the fourth quarter.

ISC remains optimistic, projecting an overall growth of 10% for the year compared to 2022, despite the challenging market conditions.

 

 

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