BE Semiconductor Industries : Besi Posts Strong Q2-17 and H1-17 Results; Q2-17 Revenue of € 170.0 Million and Net Income of € 52.4 Million Are Up 56% and 118%, Respectively, vs. Q2-16; H1-17 Revenue and Net Income Up 49% and 140%, Respectively, vs. H1-16
July 27, 2017 at 01:05 am EDT
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Duiven, the Netherlands, July 27, 2017 - BE Semiconductor Industries N.V. (the 'Company' or 'Besi') (Euronext Amsterdam: BESI; OTC markets: BESIY, Nasdaq International Designation), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the second quarter and first half year ended June 30, 2017.
Key Highlights Q2-17
Revenue of € 170.0 million, up 54.3% vs.Q1-17 and 56.0% vs. Q2-16 due primarily to favorable industry conditions and higher die bonding shipments for smart phone applications. Above guidance
Orders of € 130.1 million, down 45.7% vs. Q1-17 post large capacity build in Q1-17 but up 29.5% vs. Q2-16 due to broad based growth with particular focus on cloud server and automotive applications
Gross margin rose to 57.3%. Above guidance. Up 1.6% vs. Q1-17 and 6.4% vs. Q2-16 primarily due to Besi's strong market position, increased production efficiencies and a more favorable product mix
Net income of € 52.4 million grew 116%, or € 28.1 million, vs. Q1-17 and 118%, or € 28.4 million, vs. Q2-16 due to strong revenue growth, continued gross margin improvement and cost controls
Net margins also increased significantly to 30.8% vs. 22.0% in both Q1-17 and Q2-16
Net cash and deposits increased by € 20.8 million, or 18.8% year over year to reach € 131.5 million
Key Highlights H1-17
Revenue of € 280.2 million, up 49.0% vs. H1-16 due to substantially higher sales of die bonding systems for smart phone, and to a lesser extent, automotive applications
Orders increased by 81.0% due to improved industry conditions and increased demand for Besi's advanced packaging systems serving smart phone, automotive and cloud server applications
Gross margin rose to 56.7% vs. 50.2% principally as a result of increased production efficiencies and forex benefits
Net income of € 76.7 million grew € 44.7 million vs. H1-16 (+140%) and exceeded full year 2016 by 17.5%. Net margin expanded to 27.4% vs. 17.0% in H1-16
Outlook
Q3-17 revenue estimated to decrease 5-15 % vs. Q2-17 consistent with typical H2 seasonal trends. Revenue and operating income expected to substantially exceed Q3-16 level
To read the full version of our press release, please download the PDF file.
BE Semiconductor Industries NV published this content on 27 July 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 July 2017 05:04:07 UTC.
Original documenthttp://www.besi.com/investor-relations/press-releases/details/besi-posts-strong-q2-17-and-h1-17-results-q2-17-revenue-of-EUR-1700-million-and-net-income-of-EUR/
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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%).
BE Semiconductor Industries : Besi Posts Strong Q2-17 and H1-17 Results; Q2-17 Revenue of € 170.0 Million and Net Income of € 52.4 Million Are Up 56% and 118%, Respectively, vs. Q2-16; H1-17 Revenue and Net Income Up 49% and 140%, Respectively, vs. H1-16
BE SEMICONDUCTOR INDUSTRIES N.V. 
