BE SEMICONDUCTOR : Besi Posts 2014 Revenue and Net Income of € 378.8 Million and € 71.1 Million, Up 48.6% and 341.1%, respectively, vs. 2013. Q4-14 Profit Exceeds Expectations. Cash Dividend of € 1.50 per Share Proposed for 2014
February 26, 2015 at 06:10 am
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Duiven, the Netherlands, February 26, 2015 - BE Semiconductor Industries N.V. ("the Company" or "Besi") (Euronext Amsterdam: 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, 2014.
Key Highlights Q4-14
Revenue of € 89.0 million, down 14.0% vs. Q3-14 but up 67.8% vs. Q4-13 and within guidance
Orders of € 81.4 million, down 10.5% vs. Q3-14 but up 42.2% vs. Q4-13. Order strength continues in seasonally weak quarter
Gross margins of 43.8% vs. 45.3% in Q3-14 are at high end of guidance. Up significantly vs. 40.1% in Q4-13
Net income of € 19.7 million, down € 1.8 million vs. Q3-14 due to sequential revenue decrease. Up € 18.3 million vs. Q4-13 due to revenue growth, gross margin expansion, cost controls and lower effective tax rate
Net margins reach 22.2% in Q4-14 vs. 20.8% in Q3-14 and 2.7% in Q4-13
Key Highlights FY-14
Revenue of € 378.8 million, up 48.6% vs. FY-13. Annual growth benefits from strategic positioning in leading smart phone and automotive supply chains and more robust industry environment
Order growth of 61.8% vs. FY-13 reflects customer capacity expansion, new device introductions and market share gains in advanced packaging applications
Gross margins increase to 43.8% vs. 39.8% in FY-13 due to sales growth, increased efficiencies from Asian production transfer and benefit of lower euro vs. USD
Net income of € 71.1 million, up € 55.0 million vs. FY-13. Net margins increase to 18.8% vs. 6.3%
Proposed cash dividend of € 1.50 per share for FY-14. Up 355% vs. FY-13
Outlook
Q1-15 revenue anticipated to be up approximately 0-5% vs. Q4-14 and by 27-34% vs. Q1-14 reflecting continued order strength and favorable market position in a seasonal trough revenue period
Gross margins will range between 46-48% vs. the 43.8% realized in Q4-14
To read the full version of our press release, please download the PDF file.
BE Semiconductor Industries N.V. (Besi) specializes in the design, manufacturing and marketing of semiconductor assembly equipment for the global semiconductor and electronics industries. The group develops leading edge assembly processes and equipment for leadframe, substrate and wafer level packaging applications in a wide range of end-user markets including electronics, mobile Internet, computer, automotive, industrial, RFID, LED and solar energy.
Net sales are distributed geographically as follows: Ireland (7.5%), Europe (8.2%), China (35.5%), Malaysia (8.4%), Korea (7.3%), Taiwan (6.5%), Thailand ( 3.6%), Asia/Pacific (11.8%), United States (8.8%) and other (2.4%).
BE SEMICONDUCTOR : Besi Posts 2014 Revenue and Net Income of € 378.8 Million and € 71.1 Million, Up 48.6% and 341.1%, respectively, vs. 2013. Q4-14 Profit Exceeds Expectations. Cash Dividend of € 1.50 per Share Proposed for 2014