Events & Shows29 Feb 2012
Besi Reports Solid 2011 Results In Challenging Industry Environment. Q4-11 Revenue and Profit Exceed Expectations.
Key Highlights FY 2011
- Revenue of € 326.9 million in 2011; down 6.9% vs. peak cycle revenue in 2010
- Gross margins maintained close to 40.0% due to product mix shift to advanced packaging applications such as smart phones and tablets and ongoing business transformation despite revenue decrease
- Solid profitability as net income reached € 26.7 million in 2011 (€ 0.73 per share)
- Fourfold rise in cash flow from operations increased net cash by € 39.8 million to € 62.7 million
- Dividend proposal of € 0.22 per share, payable either in cash or in shares. 10% increase vs. previous year
Key Highlights Q4-2011
- Q4-11 revenue € 70.4 million; down 6.9% vs. Q3-11 but above guidance due to higher advanced packaging revenue
- Net income of € 3.4 million in Q4-11 vs. € 4.9 million in Q3-11 exceeds expectations
- Cash up by € 10.9 million vs. September 30, 2011 to € 87.5 million. Net cash up by € 13.1 million
- Higher orders in Q1-12 to date indicates industry trough may have been reached in Q4-11 after H2-11 downturn
To read the full version of the press release, please download the PDF file.