Automotive Segment ChallengesThe Automotive segment, representing 13% of revenues, is likely to decline for a third consecutive year.
Macroeconomic PressuresThere are concerns about macro pressures in the automotive and Medical Industry & Instrumentation sectors, including negative data in the semiconductor test market.
New Facility Ramp-upWeaker margins were attributed to headwinds related to the ramp of its new Penang facility, which is expected to reach breakeven later in the year.