BE Semiconductor Industries N : Announces Q1-21 Results
April 30, 2021 at 01:04 am EDT
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Revenue of € 143.2 Million and Net Income of € 37.6 Million Up 56.8% and 170.5%, Respectively, vs. Q1-20; Orders of € 327.1 Million, Up 107.9% vs. Q4-20 and 175.8% vs. Q1-20
Duiven, the Netherlands, April 30, 2021 - 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, 2021.
Key Highlights
Revenue of € 143.2 million, up 30.5% versus Q4-20 primarily due to higher shipments for high end mobile applications with 5G features and functionality. At lower end of prior guidance as some scheduled Q1-21 shipments were delivered in Q2-21 due to certain supply chain constraints. Up 56.8% versus Q1-20
Orders of € 327.1 million, up 107.9% and 175.8% versus Q4-20 and Q1-20, respectively, due primarily to higher bookings for mobile, automotive and high-performance computing applications
Gross margin of 58.2% roughly equal to Q4-20 (58.3%) and up 1.5 points versus Q1-20 due to more favorable product mix and increased production efficiencies
Operating income rose 18.9% and 157.4% versus Q4-20 and Q1-20, respectively, due primarily to significantly higher revenue levels and ongoing initiatives to limit overhead growth
Net income of € 37.6 million versus € 44.6 million in Q4-20, down € 7.0 million versus Q4-20 due to absence of € 11.2 million tax benefit recorded in Q4-20 and higher share-based compensation. Up € 23.7 million (+170.5%) versus Q1-20
Cash and deposits of € 605.8 million rose 41.7% versus Q1-20. Similarly, net cash of € 216.2 million increased 45.8% versus Q1-20
Outlook
Q2-21 revenue expected to grow approximately 30-40% versus Q1-21. Gross margin anticipated to range between 58-60%
To read the full version of our press release, please download the PDF file.
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BE Semiconductor Industries NV published this content on 30 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2021 05:03:05 UTC.
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 N.V. 
