ASM INTERNATIONAL REPORTS FOURTH QUARTER 2010 AND FULL YEAR 2010 OPERATING RESULTS
(Thomson Reuters ONE) -
ALMERE, THE NETHERLANDS, March 2, 2011 - ASM International N.V. (NASDAQ: ASMI
and Euronext Amsterdam: ASM) reports today its fourth quarter 2010 and full year
2010 (unaudited) operating results in accordance with US GAAP.
Highlights:
· Fourth quarter 2010 net sales of EUR 352 million up 1% quarter on quarter
and up 74% year on year.
· Gross Margin in Q4 stable at 46% compared to Q3 and up against a 40% gross
margin in the fourth quarter of 2009. Front-end business gross margin increased
from 39.8% in Q3 to 40.7% in Q4.
· Result from operations increased from EUR 101 million in Q3 to EUR 103
million in Q4. The fourth quarter of 2009 showed a profit of EUR 32 million;
° The Front-end segment increased to a profit of EUR 13 million which
includes EUR 2 million restructuring charges. Q4 2009 showed a loss of EUR 13
million including EUR 5 million restructuring charges;
° The Back-end segment profit decreased from EUR 97 million to EUR 90
million quarter on quarter mainly caused by currency translation differences
while increasing EUR 45 million year on year.
· In the fourth quarter of 2010 we have finalized our PERFORM! Front-end
restructuring program, in a shorter time period and against substantially lower
costs than earlier indicated.
· Fourth quarter 2010 net earnings were EUR 25 million compared to net
earnings of EUR 34 million for the third quarter of 2010 and a net loss of EUR
12 million for the fourth quarter of 2009. Both 2010 quarters were significantly
impacted by the revaluation of the conversion option. Excluding this revaluation
net earnings improved from EUR 43 million in the third quarter to EUR 46 million
in the fourth quarter.
· Book to bill in the fourth quarter was 0.7. In the Front-end segment the
book to bill was 1.2, in the Back-end segment the book to bill was 0.5. The
backlog decreased from EUR 587 million at the end of the third quarter, to EUR
500 million at the end of the fourth quarter.
· The Board proposes to the Annual General Shareholders Meeting to declare a
dividend of Euro 0.40 per share.
Comment
Commenting on the results, Chuck del Prado, President and Chief Executive
Officer of ASM International, said, "The fourth quarter showed further
improvements in the Front-end operations, where our results from operations
(excluding restructuring) are now into the mid-tens. Moreover we saw, besides a
sales increase of 35%, a further strengthening of our order book. The Back-end
segment showed with a 36% result from operations as a percentage of sales again
a solid performance.
As part of our financing policy we aim to pay a sustainable annual dividend. We
will propose to the forthcoming AGM to declare a dividend of Euro 0.40 per
share.
Outlook
Based upon the current backlog and our current visibility:
· For our Front-end operations we expect single digit sales growth in the
first quarter of 2011 at constant FX-rates as compared to the fourth quarter of
2010.
· For our Back-end operations (including SMT equipment, the former SEAS)
we expect a double digit sales growth in the first quarter at constant FX-rates
as compared to the fourth quarter of 2010.
Unaudited Accounts
ASM International N.V. is currently finalizing the financial statements for the
year ended December 31, 2010. We expect to be able to file our Form 20-F with
the U.S. Securities and Exchange Commission within four weeks and to publish our
Statutory Annual Accounts for the year 2010 in early April 2011. The
consolidated balance sheets of ASM International N.V. as of December 31, 2010,
the related statements of operations and cash flows for the year ended December
31, 2010 and all quarterly information as presented in this press release have
not been audited by Deloitte Accountants B.V.
About ASM International
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 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, March 3, 2011 at 15:00 Continental European Time (9:00 a.m. - US
Eastern Time).
The teleconference dial-in numbers are as follows:
* United States: +1 718 247 0885
* International: + 44 (0)20 7806 1967
* Confirmation Code: 6311824
* 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 April 1, 2011.
The replay dial-in numbers are:
* United States: +1 347 366 9565
* International: + 44 (0)20 7111 1244
* Access Code: 6311824#
Investor Contacts: Media Contact:
Erik Kamerbeek Ian Bickerton
+31 88100 8500 +31 20 6855 955
Mary Jo Dieckhaus +31 62501 8512
+1 212 986 2900
Fourth quarter 2010 and full year 2010 operating results:
http://hugin.info/132090/R/1494028/429772.pdf
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Thomson Reuters 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 Thomson Reuters ONE
[HUG#1494028]
Unternehmensinformation / Kurzprofil:
Datum: 02.03.2011 - 23:58 Uhr
Sprache: Deutsch
News-ID 52083
Anzahl Zeichen: 8190
contact information:
Town:
Almere
Kategorie:
Business News
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