ASM INTERNATIONAL N.V. REPORT THIRD QUARTER 2012 OPERATING RESULTS
ALMERE, NETHERLANDS -- (Marketwire) -- 10/24/12 --
ALMERE, The Netherlands - October 24, 2012 - ASM
International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM)
reports today its third quarter (unaudited) operating results in
accordance with US GAAP.
* Net sales for the third quarter 2012 were EUR 409 million, an
increase of 8% quarter-to-quarter and 9% year-on-year. Net sales
of our Front-end segment increased 11% quarter-to-quarter while
Back-end sales increased by 7%.
* Result from operations for Q3 2012 was EUR 32 million. Result
from operations in Q2 2012 was EUR 39 million while the third
quarter of 2011 showed a profit of EUR 51 million (excluding a
gain on the bargain purchase of SEAS of EUR 98 million).
* The Front-end segment's operating loss was EUR 1.6 million compared
to a loss of EUR 1.9 million quarter-to-quarter. Q3 2011
showed an operating profit of EUR 13.5 million; * The
Back-end segment operating profit was EUR 33.6 million compared to
EUR 40.5 million quarter-to-quarter. Q3 2011 showed an operating
profit of EUR 37.8 million (excluding a gain on the bargain
purchase of SEAS of EUR 97.9 million).
* Third quarter
2012 net earnings were EUR 5 million compared to net earnings of
EUR 18 million for the second quarter of 2012 and EUR 30 million for
the third quarter of 2011 (excluding a net gain on the bargain
purchase of EUR 51 million).
* Book to bill in the third quarter was 0.7, both for the Front-end
and for the Back-end segment. The Backlog decreased from Euro 439
million at the end of the second quarter 2012 to EUR 295 million
at the end of the third quarter 2012.
Commenting on the results, Chuck del Prado, President and
Chief Executive Officer of ASM International, said: "While sales,
both in Front-end and Back-end showed, despite worsening market
conditions, a healthy growth, our results were lagging behind. In
our Back-end operations this was mainly caused by increased price
pressure, product mix and lower volume in the assembly equipment
segment. In our Front-end operations pressure on our gross margin was
caused by customer mix and high under-absorption which is mainly due
to worsening market conditions during the third quarter. We have
started a cost reduction program in our Front- end operations, which
should lead to cost reductions in the course of 2013, especially
in our manufacturing and overhead organization."
Outlook Based on
the current order book we expect for the fourth quarter a double
digit sales decrease for both Front-end and Back-end. For our
Back-end operations we do only see a recovery earliest in the
course of the first quarter of 2013. We expect our Front-end
operations to show a strong order intake in Q4.
ASM International N.V., headquartered in Almere, the
Netherlands, and its subsidiaries design and manufacture
equipment and materials used to produce semiconductor devices. ASM
International and its subsidiaries provide production solutions for
wafer processing (Front-end segment) as well as assembly and
packaging (Back-end segment) through facilities in the United
States, Europe, Japan and Asia. ASM International's common stock
trades on NASDAQ (symbol ASMI) and the Euronext Amsterdam Stock
Exchange (symbol ASM). For more information, visit ASMI's website at
Safe Harbor Statement under the U.S. Private Securities Litigation
Reform Act of 1995: All matters discussed in this statement, except
for any historical data, are forward-looking statements.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. These include, but are not limited to,
economic conditions and trends in the semiconductor industry
generally and the timing of the industry cycles specifically,
currency fluctuations, corporate transactions, financing and
liquidity matters, the success of restructurings, the timing of
significant orders, market acceptance of new products,
competitive factors, litigation involving intellectual property,
shareholder and other issues, commercial and economic disruption
due to natural disasters, terrorist activity, armed conflict or
political instability, epidemics and other risks indicated in the
Company's filings from time to time with the U.S. Securities and
Exchange Commission, including, but not limited to, the Company's
reports on Form 20-F and Form 6-K. The Company assumes no obligation
to update or revise any forward- looking statements to reflect future
developments or circumstances.
ASM International will host an
investor conference call and web cast on Thursday, October 25,
2012 at 15:00 Continental European Time (9:00 a.m. - US Eastern
Time, 9:00 p.m. Hong Kong Time).
The teleconference dial-in numbers are as follows: - United
States: +1 646 254 3367 - International: + 44 (0)20 7136
2056 - Access Code: 6490180
A simultaneous audio web cast will be accessible at www.asm.com.
The teleconference will be available for replay, beginning one
hour after completion of the live broadcast, through November 24,
The replay dial-in numbers are: - United States: +1 347 366
9565 - England: + 44 (0)20 3427 0598 - The
Netherlands: +31 (0)20 708 5013 - Hong Kong: +852 3011 4669
- Access Code: 6490180
Q3 Press Release Final: http://hugin.info/132090/R/1652077/533156.pdf
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Source: ASM International NV via Thomson Reuters ONE [HUG#1652077]
+31 88 100 8500
Mary Jo Dieckhaus
+1 212 986 2900
+31 20 6855 955
+31 62501 8512
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