ASM INTERNATIONAL REPORT FIRST QUARTER 2011 OPERATING RESULTS
(Thomson Reuters ONE) -
ALMERE, THE NETHERLANDS, April 27, 2011 - ASM International N.V. (NASDAQ: ASMI
and Euronext Amsterdam: ASM) reports today its first quarter 2011 operating
results in accordance with US GAAP.
Highlights:
· Net sales for the first quarter 2011 were EUR 432 million, up 23% quarter-
to-quarter and up 97% year on year. Excluding the acquired SEAS business, net
sales decreased by 6% quarter-to -quarter. Net sales of our Front-end segment
were up 17% quarter-to-quarter while comparable Back-end sales decreased by 15%
mainly due to seasonality .
· Result from operations decreased from EUR 103 million in Q4, 2010 to EUR
94 million in Q1 2011. The first quarter of 2010 showed a profit of EUR 45
million;
° The Front-end segment increased from an operating profit of EUR 12.5
million (including EUR 1.8 million restructuring charges) to an operating profit
of EUR 18.7 million quarter-to-quarter. Q1 2010 showed an operating loss of EUR
5.0 million including EUR 3.6 million restructuring charges;
° The Back-end segment operating profit decreased from EUR 90.0 million to
EUR 75.0 million quarter-to-quarter and includes a profit of EUR 11.5 million as
a result of the acquisition of the former Siemens SEAS business. Compared to the
first quarter of 2010, the operating profit increased by EUR 25.3 million.
· First quarter 2011 net earnings were EUR 40 million compared to net
earnings of EUR 25 million for the fourth quarter of 2010 and EUR 4 million for
the first quarter of 2010. Excluding the revaluation of the conversion option,
net earnings levelled at EUR 46 million in the fourth quarter 2010 and EUR 45
million in the first quarter 2011. As from Q2 2011 there will be no longer
conversion option revaluation effects recognized through the income statement.
· Book to bill in the first quarter was 1.0, both in the Front-end and the
Back-end segment. Including the acquired backlog of the former SEAS business
(EUR 101 million) the backlog increased from EUR 500 million at the end of the
fourth quarter 2010, to EUR 579 million at the end of the first quarter 2011.
Comment
Commenting on the results, Chuck del Prado, President and Chief Executive
Officer of ASM International, said, "The first quarter of 2011 showed again
strong results in the Front-end operations where we are now also reporting a
positive cash flow from operations. The Front-end order book remains healthy,
reflecting continued strong demand for ALD. Our Back-end segment showed the
seasonal sales development. We noted an increase in incoming orders particularly
towards the end of the quarter. The acquired SEAS business has already
contributed this quarter to the bottom line ".
Outlook
Based upon the current backlog and our current visibility:
* For our Front-end operations we expect a single digit growth in the second
quarter of 2011 at constant FX-rates, compared to the first quarter of
2011. We expect lower bookings for Q2 than in Q1, 2011. Despite this we
expect 2011 to become a strong growth year for our Front-end operations.
* We expect for our Back-end operations a solid quarter given our strong
backlog, assuming limited end-market demand disruption caused by the Japan
earthquake.
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, April 28, 2011 at 15:00 Continental European Time (9:00 a.m. - US
Eastern Time, 9:00 p.m. Hong Kong Time).
The teleconference dial-in numbers are as follows:
* United States: +1 718 247 0877
* International: + 44 (0)20 7138 0814
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 May 27, 2011.
The replay dial-in numbers are:
* United States: +1 347 366 9565
* International: + 44 (0)20 7111 1244
* Access Code: 3545080#
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
ASM INTERNATIONAL REPORT FIRST QUARTER 2011 OPERATING RESULTS:
http://hugin.info/132090/R/1509863/444743.pdf
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(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#1509863]
Unternehmensinformation / Kurzprofil:
Datum: 27.04.2011 - 23:57 Uhr
Sprache: Deutsch
News-ID 53948
Anzahl Zeichen: 7468
contact information:
Town:
Almere
Kategorie:
Business News
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