ASM INTERNATIONAL N.V. REPORTS THIRD QUARTER 2015 RESULTS
(Thomson Reuters ONE) -
Almere, The Netherlands
October 28, 2015
ASM International N.V. (Euronext Amsterdam: ASM) today reports its third quarter
2015 operating results (unaudited) in accordance with US GAAP.
FINANCIAL HIGHLIGHTS
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Quarter
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EUR million Q3 2014 Q2 2015 Q3 2015
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New orders 156.2 166.6 148.1
Net sales 122.2 201.0 162.0
Gross profit margin % 43.2 % 45.1 % 43.7 %
Operating result 17.2 42.1 23.2
Result from investments (excl. Amortization intangible
assets resulting from the sale of the 12% stake of
ASMPT) 30.7 20.7 8.1
Amortization intangible assets resulting from the sale
of the 12% stake of ASMPT (5.7 ) (6.8 ) (6.7 )
Net earnings 54.6 39.9 35.7
Normalized net earnings (excl. Amortization intangible
assets resulting from the sale of the 12% stake of
ASMPT) 60.2 46.7 42.4
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· Net sales for the third quarter 2015 were ?162 million, a decrease of
19% compared to the previous quarter. Year-on-year net sales increased with 33%.
· New orders at ?148 million were 11% below the Q2 2015 level.
· Normalized net earnings for the third quarter 2015 decreased by ?4.3
million compared to the second quarter 2015. While operating result, due to the
lower activity level, dropped by ?19 million, the financing result included more
favorable effects from currencies when compared to the second quarter. Moreover
Q3 included ?9 million one-off benefits due to tax refunds in Korea from
previous years related to higher tax exemptions than originally assumed. The
result from investments decreased with ?12.6 million.
COMMENT
Commenting on the results, Chuck del Prado, President and Chief Executive
Officer of ASM International said:
"Q3 revenues at ?162 million were in line with our guidance, and, although 19%
lower than Q2, still at the same level as Q1, our second best quarter ever.
Order intake, at ?148 million, came in at the high end of our guidance. Our
gross profit margin of 44% remained at a solid level. Our company performance in
combination with a healthy cash situation has led to today's announcement to
start another ?100 million share buy-back program.
OUTLOOK
For Q4 we expect sales between ?125 and ?145 million, on a currency comparable
level. Orders are expected to come in at a level of ?120 to ?140 million, also
on a currency comparable level. Our current visibility is that equipment
bookings for next technology node investments in logic/foundry will start in the
course of the first half of 2016.
VOLUNTARILY DELISTING FROM NASDAQ
On August 21, 2015, ASM International N.V.'s (Euronext Amsterdam: ASM) ("ASMI"
or the "Company") common shares, par value ?0.04 per share ("ASMI Common
Shares"), were delisted from the Nasdaq Stock Market effective. The ASMI Common
Shares, which are held in the U.S. as New York Registry Shares, are eligible for
trading on the OTCQX® Best Market under the symbol ASMIY. The Company intends to
maintain its existing NY Registry Program in place to support settlement of
these shares traded on the OTCQX market.
The Company intends to terminate the registration of the ASMI Common Shares
under Section 12(g) of the Securities Exchange Act of 1934 (the "1934 Act"), and
to terminate all reporting obligations under Sections 13(a) and 15(d) of the
1934 Act. In furtherance of this, the Company filed on the same date with the
U.S. Securities and Exchange Commission a Form 15F, pursuant to Rule 12h-6 under
the 1934 Act. Upon the filing of the Form 15F, the Company's reporting
obligations under Sections 13(a) and 15(d) of the 1934 Act have been suspended.
SHARE BUYBACK PROGRAM
ASMI announced today that its Management Board authorized the repurchase of up
to ?100 million of the Company's common shares within the 2015-2016 time frame.
This buyback program will be executed by intermediaries through on-exchange
purchases and will end as soon as the aggregate purchase price of the common
shares acquired by ASMI has reached ?100 million.
On May 21, 2015 the General Meeting of Shareholders authorized ASMI to acquire
shares for a period of 18 months.
The repurchase program is part of ASMI's commitment to use excess cash for the
benefit of its shareholders.
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 the Euronext Amsterdam Stock Exchange
(symbol ASM) and in the U.S. on the OTCQX® Best Market (symbol ASMIY). For more
information, visit ASMI's website at www.asm.com.
Cautionary Note Regarding Forward-Looking Statements: All matters discussed in
this press release, 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 reports and financial statements. 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, October 29, 2015 at 15:00 Continental European Time (10:00 a.m. - US
Eastern Time).
The teleconference dial-in numbers are as follows:
· United States: +1 718 354 1357
· International: + 44 (0)20 7136 2054
· The Netherlands: + 31 (0)20 716 8295
· Access Code: 4694141
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 Third Quarter 2015 Results:
http://hugin.info/132090/R/1962207/715618.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#1962207]
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2015 - 23:58 Uhr
Sprache: Deutsch
News-ID 430299
Anzahl Zeichen: 9274
contact information:
Town:
Almere
Kategorie:
Business News
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