Key Highlights

• Revenue of € 110.2 million, up 18.4% vs.Q4-16 and 39.5% vs. Q1-16 due primarily to favorable industry conditions and higher die bonding shipments for smart phone applications. In line with guidance
• Orders of € 239.8 million, up 162.4% vs. Q4-16 and 130.8% vs. Q1-16 due primarily to large die bonding capacity build by IDMs for next generation mobile devices as well as automotive and high-end cloud server applications
• Gross margin rose to 55.7% up 2.5% vs. Q4-16 and 6.5% vs. Q1-16 principally resulting from Besi's strong market position, increased material cost efficiencies and forex benefits
• Net income of € 24.3 million is up 45.5%, or € 7.6 million, vs. Q4-16 and 203.8%, or € 16.3 million, vs. Q1-16 due to strong revenue growth, continued gross margin improvement and cost controls
• Net margins also increased significantly to 22.0% in Q1-17 vs. 18.0% in Q4-16 and 10.1% in Q1-16
• Net cash increased by € 27.3 million, or 18.4% year over year to reach € 175.7 million

 

Outlook

• Q2-17 revenue forecast +40-50% vs. Q1-17. H1-17 operating income to exceed full year 2016 levels assuming midpoint of Q2-17 guidance

 

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