ASM INTERNATIONAL N.V. REPORTS FIRST QUARTER 2015 RESULTS
April 23 2015 - 6:11PM
ASM International N.V. (Nasdaq:ASMI) (Euronext
Amsterdam:ASM)
today reports its first quarter 2015 operating
results (unaudited) in accordance with US GAAP.
FINANCIAL HIGHLIGHTS
|
Quarter |
EUR
million |
Q1 2014 |
Q4 2014 |
Q1 2015 |
New orders |
172.1 |
|
154.4 |
|
158.3 |
|
Net sales |
150.7 |
|
124.3 |
|
162.0 |
|
Gross profit margin
% |
43.7 |
% |
43.0 |
% |
43.3 |
% |
Operating result |
32.5 |
|
13.4 |
|
28.5 |
|
Result from investments
(excl. Amortization intangible assets resulting from the sale of
the 12% stake of ASMPT) |
5.7 |
|
8.9 |
|
13.4 |
|
Amortization intangible
assets resulting from the sale of the 12% stake of ASMPT |
(5.4 |
) |
(6.0 |
) |
(6.6 |
) |
Net earnings |
27.1 |
|
21.0 |
|
60.0 |
|
Normalized net earnings (excl. Amortization intangible assets
resulting from the sale of the 12% stake of ASMPT) |
32.5 |
|
27.0 |
|
66.6 |
|
- Net sales for the first quarter 2015 were €162 million, an
increase with 30% compared to the previous quarter. Year-on-year
net sales increased with 7%.
- New orders at €158 million were 3% above the Q4 2014 level.
- Normalized net earnings for the first quarter 2015 increased by
€40 million compared to the fourth quarter 2014, mainly due to a
more than doubling of the operating result and a €20 million higher
currency effect on cash held in foreign currencies, especially US
dollar. The result from investments increased with €4 million.
COMMENT
Commenting on the results, Chuck del Prado,
President and Chief Executive Officer of ASM International said:
"2015 started strongly for ASMI. We realized revenues of €162
million, 30% above the Q4 level, with again a gross margin of above
43%. (PE)ALD demand remained strong across a broad customer base.
Our order intake remained healthy and was with €158 million at the
high end of our expected range."
OUTLOOK
On a currency comparable level we expect Q2
sales to be between €180 and €200 million, while the Q2 order
intake is expected to be in the range of €160-180 million. For the
second half of 2015 the current visibility remains limited.
SHARE BUYBACK PROGRAM
On October 29, 2014, ASMI announced a share
buyback program, to purchase up to an amount of €100 million of its
own shares within the 2014-2015 time frame. On March 31, 2015 of
the total program 60% has been repurchased of which 31% was
repurchased in Q1 2015. Further details as well as a weekly update
of the share repurchases under this program can be found on our
website (www.asm.com/investors).
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, April 24, 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 3363
- International: + 44 (0)20
3427 1917
- The Netherlands: + 31 (0)20 721 9158
- Access Code: 5913769
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@asm.com
Media contact:
Ian Bickerton T: +31 625 018 512
Press Release First Quarter 2015 Results
http://hugin.info/132090/R/1914115/683919.pdf
HUG#1914115
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