Events & Shows
05 Mar 2013Besi's Q4-12 Results Exceed Expectations. Outlook Improves for Q1-13. €0.30 Dividend Proposed
Key Highlights FY 2012
- Revenue of € 273.7 million in volatile market; down 16.3% vs. 2011 as mid-year industry correction affects growth
- Gross margins stable at 40.0% (ex restructuring) despite revenue decline primarily due to reduction in European production personnel and related costs
- Net income of € 15.8 million (€ 0.42 per share) vs. € 26.4 million (€ 0.73 per share) in 2011
- Cash position expands. Net cash up € 16.8 million to € 79.5 million year over year
- Dividend proposal of € 0.30 per share, of which € 0.08 represents special dividend for 2012 in recognition of the strong cash development in 2012
Key Highlights Q4-12
- Revenue of € 56.3 million down 24.5% vs. Q3-12 but better than guidance. Down 20.0% vs. Q4-11
- Orders of € 52.0 million up 6.8% vs. Q3-12 and down 5.8% vs. Q4-11
- Gross margins of 37.7% (ex restructuring) vs. 40.3% in Q3-12 (38.4% in Q4-11) primarily due to lower shipments partially offset by European personnel reduction. At high end of guidance
- Operating expenses (ex restructuring) down 5.3% vs. Q3-12 and 11.9% vs. Q4-11. Lower than prior guidance
- Net income of € 1.2 million in Q4-12 vs. € 4.3 million in Q3-12 and € 3.2 million in Q4-11
To read the full version of the press release, please download the PDF file.