Semiconductor parts manufacturer CMTX saw its shares drop by 28% during trading after reporting third-quarter results that fell short of market expectations. Although revenue increased, both operating profit and net income experienced significant declines, attributed to operating profit that was well below forecasts.
As of 12:54 PM on November 3, CMTX shares were trading at 42,600 won, down 16,700 won (28.16%) from the previous trading day, according to the Korea Exchange.
In a disclosure following the market close the previous day, CMTX reported consolidated third-quarter revenue of 48.4 billion won and operating profit of 10.4 billion won. Revenue rose by 18.1% compared to the same period last year, but operating profit fell by 32.2%. Net income also dropped to 5.9 billion won, a 61.9% decrease from a year earlier.
The gap between actual results and market expectations was substantial. According to financial information provider FnGuide, the consensus for CMTX's third-quarter revenue and operating profit was 52.7 billion won and 17.6 billion won, respectively. Actual revenue fell short of projections by 8.2%, while operating profit was 40.9% below expectations.
CMTX manufactures silicon components used in semiconductor etching processes. Established in 2013 under the name Comate Technology, the company supplies products to major semiconductor manufacturers, including Samsung Electronics. It was listed on the KOSDAQ market in November of last year.
* This article has been translated by AI.
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