Key Highlights Q3-18

• Revenue of € 116.7 million at midpoint of guidance. Down 27.6% and 26.7% vs. Q2-18 and Q3-17, respectively. Lower die bonding shipments for mobile applications were partially offset by growth in automotive end user markets
• Orders of € 107.9 million were up 25.0% vs. Q2-18 due to higher bookings for mobile applications as well as increased demand for high end logic and memory markets. Down 33.2% vs. Q3-17 due primarily to reduced mobile demand and less favorable market conditions
• Gross margin of 58.0% is higher than Q2-18 (56.5%) and above guidance despite lower revenue levels due primarily to more favorable product mix
• Operating expenses down 8.5% vs. Q2-18 due primarily to lower temporary headcount and personnel costs. Down 4.3% vs. Q3-17. Better than prior guidance
• Net income of € 29.3 million and net margin of 25.1% reached in face of challenging market conditions
• Net cash up € 49.9 million (+45.3%) vs. Q2-18 to reach € 160.1 million

 

Key Highlights YTD-18/YTD-17

• Revenue of € 432.7 million, down 1.5% reflecting lower die bonding shipments for mobile applications partially offset by strength in computing and automotive end markets
• Orders decreased by 24.7% due primarily to reduced demand for high end smart phone capacity post significant 2017 ramp and less favorable market conditions
• Gross margin decreased slightly to 56.9% vs. 57.4%
• Net income of € 113.5 million declined 12.4% vs. YTD-17. Net margin of 26.2% remained at peer leading levels

 

Outlook

• Q4-18 revenue estimated to decrease 20%-25% vs. Q3-18 reflecting typical H2 seasonal patterns and weaker assembly equipment market conditions

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