BTU International Reports First Quarter 2013 Results

BTU International Reports First Quarter 2013 Results

NORTH BILLERICA, Mass., April 30, 2013 (GLOBE NEWSWIRE) -- BTU International,
Inc. (Nasdaq:BTUI), a leading supplier of advanced thermal processing
equipment to the electronics manufacturing and alternative energy markets,
today announced its financial results for the first quarter ended on March 31,

First quarter net sales were $10.5 million, down 19.7 percent compared to
$13.1 million in the preceding quarter, and down 35.5 percent compared to
$16.3 million for the same quarter a year ago. Net loss for the first quarter
of 2013 was $3.1 million, or ($0.33) per diluted share, compared to a net loss
of $4.4 million, or ($0.47) per diluted share, in the preceding quarter, and
compared to a net loss of $2.0 million, or ($0.21) per diluted share, in the
first quarter of 2012.


Commenting on the company's performance, Paul J. van der Wansem, BTU chairman
and CEO, said, "Our electronics business was the primary driver for our
revenues during the quarter. In addition to our well established Pyramax™
product line, we booked and shipped the first units of our new Dynamo™ product
platform. This platform was launched to provide reflow equipment to
manufacturers with dedicated large-volume consumer electronics applications.
In solar, we had little revenues as the industry remains in an overcapacity
situation. We continue to be affected by under absorptions as well as
inventory write-downs during the quarter and have instituted further steps to
reduce expenses and manage the downturn in solar. We ended the quarter with a
strong balance sheet with over $18 million of cash."


"We expect second quarter revenues to be up, in the $13 million to $14 million
range driven by strength in the electronics, parts and service business.
During the second half of the year, we expect to see additional revenues from
our nuclear business. Gross margins are expected to continue to be affected by
under absorption in our factories, primarily in the U.S. Operating expenses
for the second quarter of 2013 are expected to be essentially flat compared to
the first quarter of 2013," concluded van der Wansem.

Teleconference and Simultaneous Webcast

BTU will be discussing its financial results, along with its outlook for the
second quarter of 2013, in a conference call to be held today, April 30, at
5:00 p.m. Eastern Time. The dial-in number to participate in the conference
call is 877-303-9139. A live and archived webcast of the conference call will
be available on BTU's website at

About BTU International

BTU International is a global supplier and technology leader of advanced
thermal processing equipment and processes to the electronics manufacturing
and alternative energy markets. BTU equipment is used in the production of
printed circuit board assemblies and semiconductor packaging as well as in the
manufacturing of solar cells and nuclear fuel. BTU has operations in North
Billerica, Massachusetts and Shanghai, China with direct sales and service in
the U.S.A., Asia and Europe. Information about BTU International is available

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of

This news release contains expressed or implied forward-looking statements
regarding, among other things, the company's expected revenues, gross margins
and operating expenses and financial performance for the second quarter of
fiscal year 2013. Such statements are neither promises nor guarantees but
rather are subject to risks and uncertainties, which could cause actual
results to differ materially from those described in the forward-looking
statements. Such statements are made pursuant to the "safe harbor" provisions
established by the federal securities laws, and are based on the assumptions
and expectations of the company's management at the time such statements are
made. Important factors that could cause actual results to differ include the
acceptance of new products, particularly in the alternative energy market,
general market conditions governing supply and demand, the impact of
competitive products and pricing and other risks detailed in the company's
filings with the Securities and Exchange Commission. Actual results may vary
materially. Accordingly, you should not place undue reliance on any
forward-looking statements. All information set forth in this press release is
as of April 30, 2013, and, unless otherwise required by law, the company
disclaims any obligation to revise or update this information in order to
reflect future events or developments.

(in thousands, except share and per share data)
                                                Three Months Ended
                                                March 31, 2013 April 1, 2012
Net sales                                        $10,503      $16,272
Costs of goods sold                              7,773         11,049
Gross profit                                     2,730         5,223
Operating expenses:                                            
Selling, general and administrative              4,653         5,413
Research, development and engineering            1,134         1,482
Operating loss                                   (3,057)       (1,672)
Interest income                                  12            20
Interest expense                                 (113)         (118)
Foreign exchange loss                            (76)          (62)
Other income                                     41            --
Loss before provision (benefit) for income taxes (3,193)       (1,832)
Provision (benefit) for income taxes             (69)          175
Net loss                                         $(3,124)     $(2,007)
Loss per share:                                                
Basic                                            $(0.33)      $(0.21)
Diluted                                          $(0.33)      $(0.21)
Weighted average number of shares outstanding:                 
Basic shares                                     9,530,972     9,501,667
Effect of dilutive options                       --            --
Diluted shares                                   9,530,972     9,501,667

(in thousands)
                                          March 31, December 31,
Assets                                     2013      2012
Current assets                                      
Cash and cash equivalents                  $18,384 $20,218
Accounts receivable, net                   7,624    9,623
Inventories                                9,589    9,547
Other current assets                       5,068    4,131
Total current assets                       40,665   43,519
Property, plant and equipment, net         4,205    4,669
Other assets, net                          625      481
Total assets                               $45,495 $48,669
Liabilities and stockholders' equity                
Current liabilities                                 
Current portion of long-term debt          $405    $400
Trade accounts payable                     5,838    5,185
Other current liabilities                  5,257    6,040
Total current liabilities                  11,500   11,625
Long-term debt, less current portion       7,463    7,564
Total liabilities                          18,963   19,189
Total stockholders' equity                 26,532   29,480
Total liabilities and stockholders' equity $45,495 $48,669

CONTACT: Peter Tallian
         Chief Operating Officer
         BTU International, Inc.
         Phone: (978) 667-4111

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