ALMERE, NETHERLANDS--(Marketwire - Mar 5, 2013) -
ALMERE, The Netherlands - March 05, 2013 - ASM International N.V. (NASDAQ: ASMI)
(EURONEXT AMSTERDAM: ASM) reports today its fourth quarter 2012 and full
year
2012 (unaudited) operating results in accordance with US GAAP.
Highlights
* Net sales for the fourth quarter 2012 were EUR 320 million, a decrease
of
22% quarter-to-quarter and 9% year-on-year. Net sales of our Front-end
segment decreased 3% quarter-to-quarter, completely driven by
currencies.
Back-end sales decreased by 28% (excluding currency impact 25%).
* Result from operations for Q4 2012 was EUR (4) million. Result from
operations in Q3 2012 was EUR 32 million while Q4 of 2011 showed a
profit of
EUR 19 million.
* The Front-end segment's operating profit was EUR 1.2 million
compared to
a loss of EUR 1.6 million quarter-to-quarter. Q4 2011 showed an
operating profit of EUR 9.5 million;
* The Back-end segment operating loss was EUR 5.3 million compared to
a
profit of EUR 33.6 million quarter-to-quarter. Q4 2011 showed an
operating profit of EUR 9.5 million.
* Fourth quarter 2012 net earnings were EUR (22) million compared to net
earnings of EUR 5 million for the third quarter of 2012 and EUR 15
million
for the fourth quarter of 2012
* Book to bill in the fourth quarter of 2012 was 1.0. For the Front-end,
the
book to bill was 1.4, and for the Back-end segment 0.8. The Backlog
compared to the end of the third quarter 2012, remained stable at
EUR
289 million.
* Soft call on EUR150 million convertible bond took place in November.
Further
deleveraging ASM International by making the Front-end business debt
free.
Comment
Commenting on the results, Chuck del Prado, President and Chief
Executive
Officer of ASM International, said:
"Front-end results came in stronger than expected. Our Front-end sales,
on a
currency comparable level, showed a stable development quarter on
quarter. Our
Front-end gross margin improved strongly, mainly due to a better mix.
Also our
Front-end order intake was strong with 129 million euro. Our Back-end
operation
in Q4 experienced a much lower activity level. This in combination with a
weak
mix, led to a low gross margin percentage and an operating loss. Back-end
order
intake was 191 million euro, approximately 10% lower than Q3, as expected.
To the forthcoming AGM we will propose a dividend of EUR0.50 cent per
common
share, equal to last year."
Outlook
Sales in the Front-end are expected to show a double digit decline in
Q1, as
compared to Q4 2012. However, we expect our Front-end operation to show an
order
intake in Q1, strongly above the expected sales level for Q1. Based
on the
backlog at the end of Q4 and the expected order intake in Q1 and Q2, we
foresee
a double-digit sales increase for Front-end in Q2.
Q1 sales in the Back-end are expected to be at approximately the same
level as
in Q4, order intake is expected to show an increase in Q1 over Q4.
Study on Market Valuation of the Company
ASM International with the assistance of its financial advisers is in the
final
stage of completing the study regarding the non-recognition by the markets
of
the value of the combined businesses of the Company. ASM International will
report on the outcome of this study as soon as practical and in any event
before
the forthcoming Annual General Meeting scheduled on May 16, 2013.
Annual Report
ASM will publish its 2012 Annual report on Form 20-F and its Statutory
Annual
Report on April 4, 2013. The reports will be published on our
website at
www.asm.com.
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 to update or revise any
forward-
looking statements to reflect future developments or circumstances.
ASM International will host an investor conference call and webcast on
Wednesday
March 6, 2013 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: +1 646 254 3362
· International: + 44 (0)20 3450
9987
· Access Code: 8774357
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 4, 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
· Hong Kong: +852 3011 4669
· Access Code: 8774357
Q4 and Full Year 2012 Press Release:
http://hugin.info/132090/R/1683239/550840.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#1683239]