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

 

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