HONG KONG -- ASM reported record second-half sales and backlogs at its electronics assembly equipment unit as growth surged 45% to $517 million.

SMT sales rose 10% year-over-year in the fourth quarter ended Dec. 31 to $225 million. The net profit for the segment was $23 million.

For the year, the company reported record sales of $2.25 billion, up 23% from 2016. Bookings increased 5.5% in the fourth quarter to $539 million by year-end. SMT equipment sales rose 30.9% to a record $865.9 million.

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