Press Releases
31 Oct 2013Strong Profit Performance in Q3-13 despite Assembly Equipment Downturn due to Improved Operating Efficiency. Q4-13 Order Outlook Improving
Key Highlights Q3-13
- Revenue of € 65.4 million down 9.7% vs. € 72.4 million in Q2-13 primarily due to lower demand by Asian subcontractors for high end smart phone and tablet applications, and, to a lesser extent, customer push outs. Within guidance. Down 12.3% vs. Q3-12
- Orders flat vs. Q3-12 but down 41.7% vs. Q2-13 due to seasonal decrease after H1-13 smart phone and tablet capacity build and general assembly equipment market weakness
- Net income of € 4.4 million vs. € 6.5 million in Q2-13 due to lower revenue levels. Profit increase vs. Q3-12, € 4.3 million, due to overhead cost reduction and improved tax efficiency
Key Highlights Nine Months-2013
- Revenue of € 201.9 million, down 7.1% vs. nine months 2012 due primarily to lower sales of die attach systems for high end smart phones partially offset by increased sales for low/mid-range applications
- Net income of € 14.7 million vs. € 14.6 million in nine months 2012. Net margins improved from 6.7% to 7.3%
Outlook
- Q4-13 revenue down approximately 20% vs. Q3-13 reflecting H2-13 seasonal decline and market weakness. Anticipate Q4-13 sequential quarterly order increase leading to optimism about 2014 industry prospects
To read the full version of the press release, please download the PDF file.