Corporate News
29 Feb 2012
Besi Reports Solid 2011 Results in Challenging Industry
Environment. Q4-2011 Revenue and Profit Exceed
Expectations.
Duiven, the Netherlands, February 29, 2012 - BE
Semiconductor Industries N.V. ("the Company" or
"Besi") (NYSE Euronext: BESI; OTCQX: BESIY), a
leading manufacturer of assembly equipment for the
semiconductor industry, today announced its results for the
fourth quarter and year ended December 31, 2011.
Key Highlights FY 2011
Revenue of € 326.9 million in 2011; down 6.9% vs. peak
cycle revenue in 2010
Gross margins maintained close to 40.0% due to product
mix shift to advanced packaging applications such as
smart phones and tablets and ongoing business
transformation despite revenue decrease
Solid profitability as net income reached € 26.7 million
in 2011 (€ 0.73 per share)
Fourfold rise in cash flow from operations increased net
cash by € 39.8 million to € 62.7 million
Dividend proposal of € 0.22 per share, payable either in
cash or in shares. 10% increase vs. previous year
Key Highlights Q4-2011
Q4-11 revenue € 70.4 million; down 6.9% vs. Q3-11 but
above guidance due to higher advanced packaging revenue
Net income of € 3.4 million in Q4-11 vs. € 4.9 million in
Q3-11 exceeds expectations
Cash up by € 10.9 million vs. September 30, 2011 to €
87.5 million. Net cash up by € 13.1 million
Outlook
Higher orders in Q1-12 to date indicates industry trough
may have been reached in Q4-11 after H2-11 downturn
For the full press release, please download the
PDF file.
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%).