Duiven, the Netherlands, April 26, 2019 - 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 first quarter ended March 31, 2019.

Key Highlights

  • Revenue of € 81.4 million is down 12.0% vs. Q4-18. Better than guidance (-15%). Down 47.4% vs. Q1-18 due to adverse impact of industry downturn on Besi's principal end user application markets
  • Orders of € 83.4 million, up 0.4% vs. Q4-18 as customer demand stabilizes. Down 59.5% vs. Q1-18
  • Gross margin of 55.9% remains at attractive levels despite significantly lower revenue vs. Q4-18 and Q1-18 reflecting alignment of production overhead with current demand. At midpoint of guidance
  • Net income of € 9.5 million, down € 13.2 million vs. Q4-18 primarily due to 12% revenue decrease and, as anticipated, higher share based compensation expense. Down € 27.6 million (-74.4%) vs. Q1-18
  • Net cash and deposits increase by € 30.3 million (+15.2%) vs. December 31, 2018 to reach € 229.7 million as solid quarterly cash generation continues

Outlook

  • Q2-19 revenue expected to increase by approximately 5% vs. Q1-19 reflecting more stable market conditions. Gross margin anticipated to remain in 55%-57% range

To read the full version of our press release, please download the PDF file.

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Disclaimer

BE Semiconductor Industries NV published this content on 26 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2019 05:02:07 UTC