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29 Feb 2012

Besi Reports Solid 2011 Results In Challenging Industry Environment. Q4-11 Revenue and Profit Exceed Expectations.

Duiven, the Netherlands, February 29, 2012 - BE Semiconductor Industries N.V. ("the Company" or "Besi") (NYSE Euronext: BESI; OTCQX: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the fourth quarter and year ended December 31, 2011.

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.

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