NEW YORK (AP) - Advanced Semiconductor Engineering Inc., a leading providing of packaging for chips, Tuesday that it expects its fourth-quarter revenue to decline by 25 percent to 28 percent from the previous quarter, below its previous forecast.
The Taiwan-based company said it believes the sales falloff is mainly due to the deteriorating global economy. On Oct. 31, it said it expected a sales decline of 15 percent to 20 percent from the 20.1 billion Taiwanese dollars, or $614 million, in third-quarter sales.
Because of the lower revenue, it now expects a gross margin of 14 percent to 15 percent, rather than the earlier projection of 20 percent.
ASE shares closed Tuesday's session on the Taiwan Stock Exchange down 6.6 percent. |