Key Highlights Q3-15
Revenue of € 72.1 million, down 30.9% and 30.3% vs. Q2-15 and Q3-14 due primarily to lower demand for die attach and molding systems for smart phone, tablet and mainstream electronics applications and customer push outs to subsequent quarters due to industry downturn
Orders of € 74.9 million down 18.5% vs. Q2-15 and 17.6% vs. Q3-14 due to lower orders for advanced packaging and automotive applications partially offset by growth in TCB and die sorting bookings for high end cloud server applications as well as higher singulation and solar plating orders
Gross margins of 48.7% increased vs. 47.9% in Q2-15 and 45.3% in Q3-14 and exceeded guidance due primarily to material cost efficiencies from Asian supply chain and personnel transfer and forex benefits
Operating expenses down by € 3.3 million (10.3%) sequentially and better than guidance
Net income of € 6.3 million declined vs. € 15.5 million in Q2-15 and € 21.5 million in Q3-14 but was higher than expected due to better gross margin and operating expense development
Net cash increased by € 22.9 million (+26.6%) year over year to reach € 109.0 million
Share buyback program commenced to enhance shareholder value

Key Highlights YTD-15/YTD-14
Revenue of € 271.4 million down 6.3% vs. YTD-14 due to reduced demand for smart phones and mainstream electronics partially offset by growth in high end cloud server and solar applications
Orders of € 271.0 million down 16.9% primarily due to lower bookings by Asian subcontractors for flip chip and multi module die attach and ultra-thin molding equipment for smart phone and other advanced packaging applications. Partially offset by significant growth in TCB and die sorting orders
Gross margins increased to 48.5% vs. 43.8% in YTD-14 due primarily to material cost efficiencies and forex gains
Net income of € 39.3 million down € 12.1 million vs YTD-14. Net margin of 14.5% vs. 17.7% YTD-14

Outlook
Q4-15 revenue expected to be within a range of +10% to -10% vs. Q3-15 levels. Continued strong cash flow generation forecast

tijd 09.05
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tijd 10.50
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