BE SEMICONDUCTOR : Strong Profit Performance in Q3-13 despite Assembly Equipment Downturn due to Improved Operating Efficiency. Q4-13 Order Outlook Improving
Duiven, the Netherlands, October 31, 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 third quarter ended September 30, 2013.
Key Highlights Q3-13
Revenue of € 65.4 million down 9.7% vs. € 72.4 million in Q2-13 primarily due to lower demand by Asian subcontractors for high end smart phone and tablet applications, and, to a lesser extent, customer push outs. Within guidance. Down 12.3% vs. Q3-12
Orders flat vs. Q3-12 but down 41.7% vs. Q2-13 due to seasonal decrease after H1-13 smart phone and tablet capacity build and general assembly equipment market weakness
Net income of € 4.4 million vs. € 6.5 million in Q2-13 due to lower revenue levels. Profit increase vs. Q3-12, € 4.3 million, due to overhead cost reduction and improved tax efficiency
Key Highlights Nine Months-2013
Revenue of € 201.9 million, down 7.1% vs. nine months 2012 due primarily to lower sales of die attach systems for high end smart phones partially offset by increased sales for low/mid-range applications
Net income of € 14.7 million vs. € 14.6 million in nine months 2012. Net margins improved from 6.7% to 7.3%
Outlook
Q4-13 revenue down approximately 20% vs. Q3-13 reflecting H2-13 seasonal decline and market weakness. Anticipate Q4-13 sequential quarterly order increase leading to optimism about 2014 industry prospects
To read 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%).
BE SEMICONDUCTOR : Strong Profit Performance in Q3-13 despite Assembly Equipment Downturn due to Improved Operating Efficiency. Q4-13 Order Outlook Improving