Press Releases31 Jul 2014
Stronger Than Anticipated Q2-14 Results. Revenue Up 66.1% vs. Q1-14 and 60.5% vs. Q2-13. Net Income of € 22.9 Million Up € 15.9 Million vs. Q1-14 and € 16.4 Million vs. Q2-13.
Duiven, the Netherlands, July 31, 2014 - 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 second quarter ended June 30, 2014.
Key Highlights Q2-14
- Revenue of € 116.2 million, up 66.1% vs. Q1-14 and greatly exceeds guidance. Up 60.5% vs. Q2-13
- Orders of € 124.2 million, up 11.8% vs. Q1-14 primarily due to increased demand from IDMs for smart phones, tablets and automotive applications
- Orders up 50.2% vs. Q2-13 primarily due to increased demand for Besi's advanced packaging systems and market share gains
- Gross margins increased to 43.2% in Q2-14 (43.7% ex restructuring charge) vs. 42.3% in Q1-14 and 40.4% in Q2-13 due to higher revenue combined with efficiencies in labor and production overhead
- Net income of € 22.9 million, up € 15.9 million vs. Q1-14 and € 16.4 million vs. Q2-13 reflecting significant revenue growth, improved gross margins and benefits of cost control efforts
- Net margins reach 19.7% in Q2-14 vs. 10.0% in Q1-14 and 9.0% in Q2-13 illustrating increased profit potential of business model
Key Highlights H1-14
- Revenue of € 186.2 million, up 36.5% vs. H1-13. Growth across the product portfolio with particular demand by customers for multi module and flip chip die attach systems
- Order growth of 60.6% vs. H1-13 reflects improved economic conditions, customer capacity expansion, new device introductions and market share gains in advanced packaging applications
- Gross margins reach 42.9% vs. 40.0% in H1-13
- Net income of € 29.9 million, up € 19.6 million vs. HY-13. Net margins increase to 16.1% vs. 7.5%
- Q3-14 revenue up 50-60% vs. Q3-13 reflecting improved 2014 environment and strength in advanced packaging. Down 10-15% vs. Q2-14 reflecting seasonal trends. Strong profit generation continues
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