Inficon: margin pressure increases, seen down after Q3 results
21/10/2020 07:48
** Shares in Inficon IFCN.S are seen down 4.3% after the
Swiss semiconductor and vacuum solutions company released
lower-than-expected Q3 results urn:newsml:reuters.com:*:nFWN2HB164
** Zuercher Kantonalbank says the slowdown comes as a
surprise, especially the significant decline in gross margin due
to an increasing price pressure in Asia
** Jefferies says that stronger price pressure in China and
a different sales mix have pushed the gross margin to 45%
** It also notes that in combination with various
extraordinary impacts and charges related to Covid-19, the EBIT
margin even dropped to 11.4% - "one of the weakest results in
the last years"
** The stock is seen at the bottom of the Swiss mid-cap SMIM
.SMIM index
((Veronica.snoj@tr.com))