Key Highlights

• Revenue of € 94.9 million, up 6.6% vs. Q4-14 and 35.6% vs. Q1-14. Increased demand vs. Q1-14 for TCB and other die attach systems in smart phone, automotive and memory applications
• Orders of € 104.2 million, up 28.0% vs. Q4-14. Down 6.2% vs. exceptionally strong Q1-14. Sequential growth due to higher orders primarily for TCB, die attach and packaging systems for memory, Asian handset and automotive electronics applications
• Gross margins of 49.0% vs. 43.8% in Q4-14 and 42.3% in Q1-14. Up significantly vs. Q4-14 due primarily to increased materials cost efficiencies, euro/USD forex benefits and lower inventory provisions
• Net income of € 17.5 million, down € 2.2 million vs. Q4-14 due to absence of € 7.5 million deferred tax benefit in Q4-14. Up € 10.5 million vs. Q1-14 due primarily to revenue and gross margin expansion and one-time restructuring benefit
• Net cash increased by € 60.3 million (82.8%) year over year to reach € 133.1 million

 

Outlook

Revenue up 10-15% vs. Q1-15 reflecting underlying portfolio strength and market share gains. H1-15 revenue and profit expected to exceed H1-14 levels. Limited order visibility for H2-15.

 

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