ASM INTERNATIONAL N.V. REPORTS SECOND QUARTER 2015 RESULTS
(Thomson Reuters ONE) -
Almere, The Netherlands
July 29, 2015
ASM International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM) today reports
its second quarter 2015 operating results (unaudited) in accordance with US
GAAP.
FINANCIAL HIGHLIGHTS
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Quarter
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EUR million Q2 2014 Q1 2015 Q2 2015
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New orders 119.5 158.3 166.6
Net sales 148.4 162.0 201.0
Gross profit margin % 42.3 % 43.3 % 45.1 %
Operating result 27.4 28.5 42.1
Result from investments (excl. Amortization intangible
assets resulting from the sale of the 12% stake of
ASMPT) 15.8 13.4 20.7
Amortization intangible assets resulting from the sale
of the 12% stake of ASMPT (5.5 ) (6.6 ) (6.8 )
Net earnings 34.6 60.0 39.9
Normalized net earnings (excl. Amortization intangible
assets resulting from the sale of the 12% stake of
ASMPT) 40.1 66.6 46.7
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* Net sales for the second quarter 2015 were ?201 million, an increase of 24%
compared to the previous quarter. Year-on-year net sales increased with 35%.
* New orders at ?167 million were 5% above the Q1 2015 level.
* Normalized net earnings for the second quarter 2015 decreased by ?20 million
compared to the first quarter 2015, due to a ?40 million lower currency
effect on cash held in foreign currencies, especially US dollar. Excluding
those currency effects normalized net earnings increased from ?39 million
to ?59 million. The result from investments increased with ?7 million.
COMMENT
Commenting on the results, Chuck del Prado, President and Chief Executive
Officer of ASM International said:
"Q2 2015 was again a strong quarter for ASMI. We realized revenues of ?201
million, a sales increase of 24% over Q1 2015. Gross Margin improved further to
more than 45%. Atomic Layer Deposition demand remained strong across a broad
customer base. Our order intake remained healthy and was ?167 million, 5% above
the Q1 2015-level."
OUTLOOK
For Q3 we expect sales between ?155 and ?170 million, on a currency comparable
level. The Q3 order intake, on a currency comparable level, is expected to be in
the range of ?130-150 million.
Beyond Q3 the visibility on timing of next technology node's insertions of new
equipment capacity is still limited.
INTERIM FINANCIAL REPORT
On August 31, 2015 ASM International will publish its Interim Financial report
for the six months ended June 30, 2015. This report comprises regulated
information within the meaning of articles 1:1 and 5:25d of the Dutch Financial
Markets Supervision Act (Wet op het Financieel Toezicht) and includes
consolidated condensed interim financial statements prepared in accordance with
IAS 34, "Interim Financial Reporting", an interim management board report and a
management board responsibility statement. The interim financial report for the
six months ended June 30, 2015 will be available online at www.asm.com as from
August 31, 2015.
SHARE BUYBACK PROGRAM
On October 29, 2014, ASMI announced a share buyback program, to purchase up to
an amount of EUR 100 million of its own shares within the 2014-2015 time frame.
The repurchase program is part of ASMI's commitment to use excess cash for the
benefit of its shareholders.
The buyback program was executed by intermediaries through on-exchange purchases
or through off-exchange trades. ASMI updated the markets on the progress of the
buyback program on a weekly basis. The program started on November 24, 2014, and
was completed on May 20, 2015. Under the 2014-2015 share buyback program we
repurchased 2,594,420 shares at an average price of ?38.55.
VOLUNTARILY DELISTING FROM NASDAQ
We intend to apply to delist our ordinary shares, par value ?0.04 per share,
which are held in the U.S. as NY Registry Shares, from the Nasdaq Stock Market
effective on or about Augustus 21, 2015. Subsequently, we intend to seek to
terminate the registration of these shares under Section 12(g) of the U.S.
Securities Exchange Act of 1934 and our reporting obligations under Sections
13(a) and 15(d) of the Act. We have taken this decision because of the low, and
declining, trading volume in our NY Registry Shares on Nasdaq, which currently
accounts for less than 1.0% of our worldwide trading volume. We expect that our
NY Registry Shares will become eligible for trading on the OTC market in the
U.S. prior to the effective date of the delisting, and we intend to keep our
existing NY Registry Program in place to support settlement of these shares
traded on the OTC market. After deregistration, ASMI will continue to maintain
the level of disclosure expected by the international financial markets.
About ASM International
ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries
and participations design and manufacture equipment and materials used to
produce semiconductor devices. ASM International, its subsidiaries and
participations provide production solutions for wafer processing (Front-end
segment) as well as for assembly & packaging and surface mount technology (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 www.asm.com.
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 nor intends 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, July 30, 2015 at 15:00 Continental European Time (9:00 a.m. - US
Eastern Time).
The teleconference dial-in numbers are as follows:
* United States: +1 646 254 3366
* International: + 44 (0)20 3427 1915
* The Netherlands: + 31 (0)20 716 8257
* Access Code: 7528797
A simultaneous audio web cast will be accessible at www.asm.com.
CONTACT
Investor contact:
Victor Bareño
T: +31 88 100 8500
E: victor.bareno(at)asm.com
Media contact:
Ian Bickerton
T: +31 625 018 512
Press Release Second Quarter 2015 Results:
http://hugin.info/132090/R/1942245/702516.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ASM International NV via GlobeNewswire
[HUG#1942245]
Unternehmensinformation / Kurzprofil:
Datum: 29.07.2015 - 23:58 Uhr
Sprache: Deutsch
News-ID 410239
Anzahl Zeichen: 9798
contact information:
Town:
Almere
Kategorie:
Business News
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