Corporate News
5 Mar 2013
Besi's Q4-12 Results Exceed Expectations. Outlook Improves for Q1-13. € 0.30 Dividend Proposed
Duiven, the Netherlands, March 5, 2013 - 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, 2012.
Key Highlights FY 2012
Revenue of € 273.7 million in volatile market; down 16.3% vs. 2011 as mid-year industry correction affects growth
Gross margins stable at 40.0% (ex restructuring) despite revenue decline primarily due to reduction in European production personnel and related costs
Net income of € 15.8 million (€ 0.42 per share) vs. € 26.4 million (€ 0.73 per share) in 2011
Cash position expands. Net cash up € 16.8 million to € 79.5 million year over year
Dividend proposal of € 0.30 per share, of which € 0.08 represents special dividend for 2012 in recognition of the strong cash development in 2012
Key Highlights Q4-12
Revenue of € 56.3 million down 24.5% vs. Q3-12 but better than guidance. Down 20.0% vs. Q4-11
Orders of € 52.0 million up 6.8% vs. Q3-12 and down 5.8% vs. Q4-11
Gross margins of 37.7% (ex restructuring) vs. 40.3% in Q3-12 (38.4% in Q4-11) primarily due to lower shipments partially offset by European personnel reduction. At high end of guidance
Operating expenses (ex restructuring) down 5.3% vs. Q3-12 and 11.9% vs. Q4-11. Lower than prior guidance
Net income of € 1.2 million in Q4-12 vs. € 4.3 million in Q3-12 and € 3.2 million in Q4-11
For the full version of the 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%).