BTU International Reports Second Quarter 2013 Results

BTU International Reports Second Quarter 2013 Results

NORTH BILLERICA, Mass., July 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 second quarter ended on June 30,
2013.

Second quarter net sales were $14.2 million, up 35.6 percent compared to $10.5
million in the preceding quarter, and down 2.4 percent compared to $14.6
million for the same quarter a year ago. Net loss for the second quarter of
2013 was $0.3 million, or ($0.03) per diluted share, compared to a net loss of
$3.1 million, or ($0.33) per diluted share, in the preceding quarter, and
compared to a net loss of $2.1 million, or ($0.23) per diluted share, in the
second quarter of 2012.

Net sales for the six months ended June 30, 2013, were $24.7 million compared
to $30.9 million for the first six months of 2012. Net loss for the first six
months of 2013, was $3.4 million, or ($0.36) per diluted share, compared to a
net loss of $4.2 million, or ($0.44) per diluted share, for the first six
months of 2012.

Comments

Commenting on the company's performance, Paul J. van der Wansem, BTU chairman
and CEO, said, "Our electronics business, in particular our semiconductor
packaging product line, continues as the key driver for our revenues during
the quarter and for the six month period. On the other hand, growth in the
Chinese market has slowed compared to historical levels. In solar, we had
little revenue as the industry remains in an overcapacity situation. On the
positive side, we were encouraged by the progress at our second solar customer
who moved forward with the start up of new production lines using our
Meridian™ in-line diffusion systems."

Outlook

"We expect third quarter revenues to be in the $12.5 million to $13.5 million
range driven by strength in the electronics, parts and service
businesses.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 third quarter of 2013 are expected to return to
approximately the same level as for 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
third quarter of 2013, in a conference call to be held today, July 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 www.btu.com.

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 asin 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
at www.btu.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995

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 third 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 July 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.

BTU INTERNATIONAL, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
                                                              
                        Three Months Ended         Six Months Ended
                        June 30, 2013 July 1, 2012 June 30, 2013 July 1, 2012
                                                              
Net sales                $14,244     $14,598    $24,747     $30,870
Costs of goods sold      8,850        9,916       16,623       20,965
                                                              
Gross profit             5,394        4,682       8,124        9,905
                                                              
Operating expenses:                                            
                                                              
Selling, general and     4,355        5,336       9,009        10,749
administrative
Research, development    1,017        1,306       2,151        2,788
and engineering
                                                              
Operating income (loss)  22           (1,960)     (3,036)      (3,632)
                                                              
Interest income          11           16          23           36
Interest expense         (107)        (114)       (220)        (232)
Foreign exchange gain    (38)         10          (114)        (52)
(loss)
Other income             5            1           46           1
                                                              
Loss before provision    (107)        (2,047)     (3,301)      (3,879)
for income taxes
                                                              
Provision for income     154          102         85           277
taxes
                                                              
Net loss                 $(261)      $(2,149)   $(3,386)    $(4,156)
                                                              
Loss per share:                                                
Basic                    $(0.03)     $(0.23)    $(0.36)     $(0.44)
Diluted                  $(0.03)     $(0.23)    $(0.36)     $(0.44)
                                                              
Weighted average number                                        
of shares outstanding:
Basic shares             9,532,140    9,503,203   9,531,559    9,502,462
Effect of dilutive       --           --          --           --
options
                                                              
Diluted shares           9,532,140    9,503,203   9,531,559    9,502,462



BTU INTERNATIONAL, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
                                                   
Assets                                     June 30,  December 31,
                                           2013      2012
                                                   
Current assets                                      
Cash and cash equivalents                  $15,283 $20,218
Accounts receivable, net                   11,286   9,623
Inventories                                10,611   9,547
Other current assets                       5,896    4,131
                                                   
Total current assets                       43,076   43,519
                                                   
Property, plant and equipment, net         3,858    4,669
                                                   
Other assets, net                          538      481
                                                   
Total assets                               $47,472 $48,669
                                                   
Liabilities and stockholders' equity                
                                                   
Current liabilities                                 
Current portion of long-term debt          $411    $400
Trade accounts payable                     7,298    5,185
Other current liabilities                  5,910    6,040
                                                   
Total current liabilities                  13,619   11,625
                                                   
Long-term debt, less current portion       7,357    7,564
                                                   
                                                   
Total liabilities                          20,976   19,189
                                                   
Total stockholders' equity                 26,496   29,480
                                                   
Total liabilities and stockholders' equity $47,472 $48,669

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

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