ASM INTERNATIONAL REPORTS A 26% INCREASE IN THIRD QUARTER 2010 OPERATING RESULTS
ALMERE, THE NETHERLANDS, October 28, 2010 - ASM International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM) reports today its third quarter 2010 (unaudited) operating results in accordance with US GAAP.
· Third quarter 2010 net sales of EUR 349 million up 15% quarter on quarter and up 94% year on year;
· Gross Margin further improved to 46% in Q3, up from 44% in Q2 and 38% in the third quarter of 2009;
· Result from operations increased from EUR 80 million in Q2 to EUR 101 million in Q3. The third quarter of 2009 showed a profit of EUR 11 million;
° The Front-end segment increased to a profit of EUR 5 million which includes EUR 2 million restructuring charges. Q3 2009 showed a loss of EUR 31 million including EUR 15 million restructuring charges;
° The Back-end segment profit increased from EUR 41 million to EUR 97 million year on year;
· Third quarter 2010 net earnings were EUR 34 million compared to net earnings of EUR 48 million for the second quarter of 2010 and a net loss of EUR 16 million for the third quarter of 2009. Both quarters were significantly impacted by the revaluation of the conversion option. Excluding this revaluation net earnings improved from EUR 34 million in the second quarter to EUR 43 million in the third quarter;
· Book to bill in the third quarter was 1.2. In the Front-end segment the book to bill was 1.9, in the Back-end segment the book to bill was 1.1. The backlog increased from EUR 557 million at the end of the second quarter, to EUR 587 million at the end of the third quarter.
Commenting on the results, Chuck del Prado, President and Chief Executive Officer of ASM International, said, "After the strong order intake in the previous quarter, leading to new record sales in the third quarter, we saw a further strengthening of our backlog. Both Front-end as well as Back-end were able to improve their Gross Profit Margins and showed healthy Operating Profits.".
Based upon the current backlog and our current visibility, we expect our Back-end operations to provide a quarter with solid performance. For our Front-end operations we expect a double digit sales growth in the fourth quarter, at constant fx-rates, as compared to the third quarter.
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, 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, October 29, 2010 at 15:00 Continental European Time (9:00 a.m. - US Eastern Time).
The teleconference dial-in numbers are as follows:
- United States: +1 212 444 0585
- 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 November 12, 2010.
The replay dial-in numbers are:
- United States: +1 347 366 9565
- International: + 44 (0)20 7111 1244
- Access Code: 1508064#
| Investor Contacts:|| || Media Contact: |
| Erik Kamerbeek || || Ian Bickerton|
| +31 88100 8500|| || +31 20 6855 955|
| Mary Jo Dieckhaus|| || +31 653 105 072|
| +1 212 986 2900|| || |
PR Q3 2010 ASM International