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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  BE SEMICONDUCTOR    BESI   NL0000339760

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BE SEMICONDUCTOR : Besi Reports Q1-12 Revenue and Profit That Meet or Exceed Expectations.

04/25/2012 | 02:43am US/Eastern
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
Contacts Richard Blickman
CEO
investor.relations@besi.com
Cor te Hennepe
SVP Finance
investor.relations@besi.com
Citigate First Financial
Uneke Dekkers & Frank Jansen
info@citigateff.nl
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