Corporate News
25 Apr 2012
Besi Reports Q1-12 Revenue and Profit That Meet or Exceed
Expectations.
Key Highlights
Revenue of € 55.8 million down 20.7% vs. Q4-11 and in
line with prior guidance
Improved business outlook as orders rose to € 84.2
million (+52.5% vs. Q4-11). Increase across all product
groups, but primarily focused on flip chip and multi
module die attach systems for smart phone/tablet
applications
Gross margins increased to 39.4% from 38.5% in Q4-11
due to improved packaging gross margins and reduced
production overhead
Operating income of € 2.4 million in Q1-12 roughly
equal to Q4-11 despite sequential revenue decrease
demonstrates improved scalability of business model
Net income declines to € 0.2 million in Q1-12 vs. € 3.4
million in Q4-11 due to adverse impact on hedging
contracts from increase of Swiss franc vs. US dollar
and higher effective tax rate due to subsidiary profit
composition
Liquidity position continues to strengthen with net
cash up by € 7.7 million to € 70.4 million
Outlook
Q1-12 ending backlog indicates approximately 50%
revenue growth and substantial profit increase in
Q2-12
BE Semiconductor Industries N.V. (Besi) specializes in the design, manufacturing and marketing of semiconductor assembly equipment for the global semiconductor and electronics industries. The group develops leading edge assembly processes and equipment for leadframe, substrate and wafer level packaging applications in a wide range of end-user markets including electronics, mobile Internet, computer, automotive, industrial, RFID, LED and solar energy.
Net sales are distributed geographically as follows: Ireland (7.5%), Europe (8.2%), China (35.5%), Malaysia (8.4%), Korea (7.3%), Taiwan (6.5%), Thailand ( 3.6%), Asia/Pacific (11.8%), United States (8.8%) and other (2.4%).