Asat sees steady growth on robust semiconductor demand

Asat predicts steady growth as semiconductor demand booms.
Asat, the world's fifth-largest semiconductor packaging and testing company, sees steady growth ahead as demand for semiconductors booms, driven by rapid growth in the communications industry.

Hong Kong-based Asat, which raised $240 million in an initial public offering on Nasdaq in July, expects its revenue to grow at a rate of 35% to 40% a year amid growing demand for computer chips tailored to the needs of companies that make products such as routers and cable modems for broadband and internet connectivity providers, says Jerry Lee, the company's chief executive officer.

While personal computers still make up the single largest destination for semiconductors, demand from broadband and internet connectivity companies is growing...

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