Key Highlights

• Revenue of € 79.0 million, up 1.5% vs. Q4-15 as market conditions firmed and sales for certain smart phone applications increased. Down 16.8% vs. Q1-15 due to H2-15 industry downturn
• Orders of € 103.9 million, up 34.4% vs. Q4-15 due primarily to growth by Chinese and Taiwanese subcontractors for smart phone applications as well as higher IDM demand for high end memory and cloud server applications. Flat vs. Q1-15
• Gross margins of 49.2%, above prior guidance. Down vs. 50.0% in Q4-15 due to restructuring charges and increased personnel costs but above 49.0% gross margin reached in Q1-15
• Net income of € 8.0 million down € 1.7 million vs. Q4-15 and € 9.5 million vs. Q1-15 (down € 5.5 million as adjusted)
• Net cash increased by € 15.3 million (11.5%) year over year to reach € 148.4 million

Outlook

• Q2-16 revenue expected to be +20-25% vs. Q1-16 based on strong Q1-16 order intake. Sequential operating profit significantly higher than Q1-16 due to anticipated revenue growth

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