ASM INTERNATIONAL REPORTS A 26% INCREASE IN THIRD QUARTER 2010 OPERATING RESULTS

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Algemeen advies 29/10/2010 07:31
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.
Highlights:
· 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.

Comment
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.".

Outlook
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.




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