ASM INTERNATIONAL N.V. REPORTS THIRD QUARTER 2013 RESULTS
October 31 2013 - 6:58PM
Almere, The
Netherlands
October 31, 2013
ASM
International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM)
reports today its third quarter 2013 operating results (unaudited)
in accordance with US GAAP.
Following the close of the sale on
March 15, 2013 of a 12% share in ASMPT, the entity in which the
Back-end segment is organized, ASMI's shareholding is reduced to
40.08%. As a consequence, as from March 15, 2013 the results of
ASMPT are deconsolidated. From that date onwards the net result of
ASMPT is reported on the line 'result from investments'. In the
second quarter of 2013 a purchase price allocation took place
resulting in the recognition and subsequent amortization of certain
intangible assets.
FINANCIAL
HIGHLIGHTS
The pro-forma figures show ASMI numbers whereby
ASMPT is deconsolidated.
EUR million |
Pro-forma
Q3 2012 |
Q2 2013 |
Q3 2013 |
New orders |
64.3 |
|
128.4 |
|
112.2 |
|
Net sales |
96.1 |
|
128.6 |
|
116.4 |
|
Gross profit margin % |
31.4 |
% |
39.3 |
% |
39.1 |
% |
Operating results |
(1.6 |
) |
16.2 |
|
11.6 |
|
Result from investments (excl.
amortization and fair value purchase price allocation) |
13.3 |
|
9.2 |
|
10.8 |
|
Remeasurement gain, realized gain
on sale of ASMPT shares, amortization and fair value
adjustments |
- |
|
(40.8 |
) |
(17.2 |
) |
Net earnings |
4.9 |
|
(23.4 |
) |
(0.9 |
) |
Normalized net earnings (excl. remeasurement gain,
realized gain on sale of ASMPT shares, amortization and fair value
adjustments) |
4.9 |
|
17.4 |
|
16.3 |
|
-
Net sales for the third quarter 2013 decreased
with 9% compared to the second quarter and increased with 21%
year-on-year, mainly driven by (PE)ALD sales which were
subsequently higher than in the comparable period last year, but
below the Q2 level.
-
Result from operations for the third quarter
2013 includes restructuring costs of €1.0 million compared to €0.7
million included in the second quarter.
COMMENT
Commenting on the results, Chuck
del Prado, President and Chief Executive Officer of ASM
International said:
"Q3 was again a strong quarter for ASMI. Sales came in 9% lower
than the very strong second quarter, slightly better than expected.
Our book to bill ratio remained at 1.0. Both sales and order intake
were driven by (PE)ALD demand in the most advanced technology
nodes. Margins remained healthy, leading to a 10% operating result.
We also saw strong improvement in our operational cash flow due to
lower working capital requirements for the quarter. Our result from
investments excluding 'PPA-effects' improved due to better results
in ASMPT".
OUTLOOK
Our sales in Q4, on a currency
comparable level, are expected to show a single digit increase
compared to Q3. Q4 order intake, on a currency comparable level, is
expected to show a low double digit increase as compared to Q3.
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 Friday, November 1, 2013 at 15:00 Continental
European Time (10:00 a.m. - US Eastern Time).
The teleconference dial-in numbers are as
follows:
-
United States:
+1 212 444 0412
-
International:
+ 44 (0)20 3427 1919
-
The Netherlands:
+ 31 (0)20
716 8295
-
Access Code:
9228211
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, for a
duration of 7 days starting on November 1, 2013.
The replay dial-in numbers are:
-
United States:
+1 347 366 9565
-
England:
+ 44 (0)20 3427 0598
-
The
Netherlands:
+31 (0)20 708 5013
-
Access Code:
9228211
CONTACT
Investor
contact:
Victor Bareño
T: +31 88 100 8500
E: victor.bareno@asm.com
Mary Jo Dieckhaus
T: +1 212 986 2900
E: maryjo.dieckhaus@asm.com
Media contact:
Ian Bickerton
T: +31 625 018 512
ASMI Reports Third Quarter 2013
Results
This
announcement is distributed by Thomson Reuters on behalf of 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
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