-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ee+OQ7NC3gyub+ezNmgkbizg3G2Lj3K4oCVlsiaWiL9WaRFt16YgZX/3wW5gCgX9 ES6gA/zHxknoDr26U3US/w== 0000950135-03-004711.txt : 20030904 0000950135-03-004711.hdr.sgml : 20030904 20030904153444 ACCESSION NUMBER: 0000950135-03-004711 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030731 FILED AS OF DATE: 20030904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BE SEMICONDUCTOR INDUSTRIES NV CENTRAL INDEX KEY: 0001003196 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27298 FILM NUMBER: 03881537 BUSINESS ADDRESS: STREET 1: MARCONILAAN 4 STREET 2: DRUNEN 5151 DR CITY: THE NETHERLANDS STATE: P7 ZIP: 31416-3844 BUSINESS PHONE: 6028316600 MAIL ADDRESS: STREET 1: MARCONILAAN 4 STREET 2: DRUNEN 5151 DR CITY: THE NETHERLANDS STATE: P7 ZIP: 31416-3844 6-K 1 b47284bee6vk.txt BE SEMICONDUCTOR INDUSTRIES N.V. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For The Month of July, 2003 Commission File Number 0-27298 BE SEMICONDUCTOR INDUSTRIES N.V. (Translation of Registrant's Name Into English) Marconilaan 4 5151 DR Drunen The Netherlands (Address of Principle Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F X Form 40-F __ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1): _____ Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ___ No X (IF "YES" IS MARKED, INDICATE BELOW THE FILE NUMBER ASSIGNED TO THE REGISTRANT IN CONNECTION WITH RULE 12g3-2(b) : 82-_______.) BE Semiconductor Industries N.V. (the "Company") is filing a press release dated July 22, 2003 which announced its second quarter 2003 results. A copy of the press release is attached hereto as Exhibit 99.1.
Exhibits - -------- 99.1 Press Release
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BE SEMICONDUCTOR INDUSTRIES N.V. By: /s/ Richard W. Blickman --------------------------------- Name: Richard W. Blickman Title: President and Chief Executive Officer Date: August 29, 2003 -------------------------- EX-99.1 3 b47284beexv99w1.txt PRESS RELEASE Exhibit 99.1 FOR: BE SEMICONDUCTOR INDUSTRIES N.V. Marconilaan 4 5151 DR Drunen The Netherlands BE SEMICONDUCTOR INDUSTRIES REPORTS 2003 SECOND QUARTER RESULTS * Net sales up 15% and bookings up 32% over first quarter of 2003 * *Net loss of E 1.6 million or E 0.05 per share versus E 3.0 million or E 0.10 per share in first quarter of 2003 * * Book-to-bill ratio of 0.92 versus 0.80 in first quarter of 2003 * Drunen, the Netherlands, July 22, 2003, BE Semiconductor Industries N.V. ("the Company" or "Besi") (Nasdaq: BESI; Euronext: BESI), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its financial results for the second quarter of 2003. Net sales for the second quarter of 2003 were E 23.7 million, an increase of 14.5% from E 20.7 million for the first quarter of 2003 and an increase of 23.4% as compared to net sales of E 19.2 million for the second quarter of 2002. Net loss for the second quarter of 2003 was E 1.6 million, or E 0.05 per share, versus a net loss of E 3.0 million, or E 0.10 per share, for the first quarter of 2003 and a net loss of E 2.1 million, or E 0.07 per share, for the second quarter of 2002. Net bookings for the quarter ended June 30, 2003 were E 21.8 million, an increase of 32.1% as compared to the first quarter of 2003. Backlog decreased by 5.0% to E 36.3 million at June 30, 2003 from E 38.2 million at March 31, 2003. The book-to-bill ratio stood at 0.92 in the second quarter of 2003 as compared to 0.80 in the first quarter of 2003 and 1.41 in the second quarter of 2002. Gross margin for the second quarter of 2003 was 33.5%, compared to 30.0% in the first quarter of 2003 and 31.2% in the second quarter of 2002. The increase in gross margin for the second quarter of 2003 as compared to the first quarter was mainly due to an increase in gross margins realized from the sale of packaging equipment. At June 30, 2003, cash totaled E 109.3 million as compared to E 119.9 million at December 31, 2002, a decrease of E 10.6 million, primarily due to E 6.7 million in capital expenditures mainly for the construction and completion of an 80,000 square foot facility in Duiven, the Netherlands to consolidate part of Besi's Dutch operations and a new plant in China for tooling manufacturing and E 1.1 million related to the retirement of long-term debt and repurchase of ordinary shares. For the six months ended June 30, 2003, net sales were E 44.4 million, up 32.1% as compared to net sales of E 33.6 million for the six months ended June 30, 2002. Net loss for the six months ended June 30, 2003 was E 4.6 million, or E 0.15 per share, compared to a net loss of E 6.2 million, or E 0.19 per share, for the six months ended June 30, 2002. Richard W. Blickman, President and Chief Executive Officer of the Company, commented: "We made good progress in the second quarter of 2003 with improved net sales and operating results as compared to the first quarter of 2003. Our net loss decreased by approximately 50% in comparison to the first quarter of 2003 due to increased sales, higher packaging equipment gross margins and lower operating expenses related to careful expense management. Furthermore, we are encouraged that our bookings in the second quarter of 2003 increased by 32.1% as compared to the previous quarter, reflecting increased customer demand. However, we have still not seen a consistent pattern of growth in customer orders to date." BE Semiconductor Industries N.V. designs, develops, manufactures, markets and services die sorting, flip chip die-attach, molding, trim and form, singulation and plating systems for the semiconductor industry's assembly operations. Its customers consist primarily of leading U.S., European, Asian, Korean and Japanese semiconductor manufacturers and subcontractors. CAUTION CONCERNING FORWARD LOOKING STATEMENTS This press release contains forward-looking statements, which are found in various places throughout the press release, including statements relating to expectations of future revenues, expenses and operating results. While these forward-looking statements represent our judgments and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, those listed or discussed in our Annual Report on Form 20-F for the year ended December 31, 2002, as well as the risk that anticipated orders may not materialize or that orders received may be postponed or canceled, generally without charges; the volatility in the demand for semiconductors and our products and services; acts of terrorism and violence; overall global economic conditions; risks, such as changes in trade regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations; potential instability in foreign capital markets; the risk of failure to successfully manage our expanding and more diverse operations; and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including those with the United States Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise. A conference call to discuss these results will be held today at 4:00 PM Dutch time (3:00 PM London time, 10:00 AM NY time). Interested participants may call (31) 20 531 5871 for the teleconference. CONTACTS: Richard W. Blickman Cor te Hennepe President & CEO Director of Finance Tel. (31) 416 384345 Tel. (31) 416 384345 (tables to follow) CONSOLIDATED STATEMENTS OF OPERATIONS (Euro in thousands, except share and per share data) (unaudited)
THREE MONTHS SIX MONTHS ENDED JUNE 30, ENDED JUNE 30, ---------------------------- ---------------------------- 2002 2003 2002 2003 Euro EURO Euro EURO Net sales 19,178 23,729 33,630 44,449 Cost of sales 13,192 15,777 24,234 30,276 ----------- ----------- ----------- ----------- Gross profit 5,986 7,952 9,396 14,173 Selling, general and administrative 6,521 6,473 12,796 12,973 expenses Research and development expenses 2,833 3,336 5,889 6,971 Amortization of intangible assets 650 630 1,306 1,265 ----------- ----------- ----------- ----------- Total operating expenses 10,004 10,439 19,991 21,209 Operating loss (4,018) (2,487) (10,595) (7,036) Interest income, net 844 629 1,783 1,408 ----------- ----------- ----------- ----------- Loss before taxes and minority interest (3,174) (1,858) (8,812) (5,628) Income tax benefit (1,076) (280) (2,653) (1,034) ----------- ----------- ----------- ----------- Loss before minority interest (2,098) (1,578) (6,159) (4,594) Minority interest -- 4 -- 9 ----------- ----------- ----------- ----------- Net loss (2,098) (1,574) (6,159) (4,585) =========== =========== =========== =========== Loss per share - basic and diluted (0.07) (0.05) (0.19) (0.15) Weighted number of shares - basic 31,794,675 30,794,660 31,794,675 30,833,018 Weighted number of shares - diluted 31,794,675 30,794,660 31,794,675 30,833,018 =========== =========== =========== ===========
The financial information has been prepared in accordance with US GAAP. (tables to follow) CONSOLIDATED BALANCE SHEETS (Euro in thousands)
December 31, 2002 JUNE 30, 2003 (UNAUDITED) ASSETS Cash and cash equivalents 119,866 109,341 Accounts receivable 28,238 24,396 Inventories 33,424 31,758 Other current assets 7,687 7,816 ------- ------- TOTAL CURRENT ASSETS 189,215 173,311 Property, plant and equipment 23,103 27,752 Goodwill 14,690 13,723 Patents and trademarks 17,036 15,414 Other non-current assets 954 852 ------- ------- TOTAL ASSETS 244,998 231,052 ======= ======= LIABILITIES AND SHAREHOLDERS' EQUITY Current portion of long-term debt and capital leases 1,228 908 Accounts payable 13,103 8,893 Accrued liabilities 17,272 15,357 ------- ------- TOTAL CURRENT LIABILITIES 31,603 25,158 Long-term debt and capital leases 7,812 7,388 Deferred gain on sale and lease back 1,012 969 Deferred tax liabilities 4,039 3,698 ------- ------- TOTAL NON-CURRENT LIABILITIES 12,863 12,055 MINORITY INTEREST 44 31 TOTAL SHAREHOLDERS' EQUITY 200,488 193,808 ------- ------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 244,998 231,052 ======= =======
The financial information has been prepared in accordance with US GAAP. (table to follow) CONSOLIDATED CASH FLOW STATEMENTS (Euro in thousands)
SIX MONTHS ENDED JUNE 30, (UNAUDITED) 2002 2003 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss (6,159) (4,585) Depreciation and amortization 3,411 3,031 Deferred income tax benefits (2,820) (348) Other non-cash items 1,381 1,254 Changes in working capital (534) (87) -------- -------- Net cash used in operating activities (4,721) (735) CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (1,727) (6,749) Proceeds from sale of equipment 6,539 67 Acquisition of subsidiaries, net of cash acquired (10,496) -- -------- -------- Net cash used in investing activities (5,684) (6,682) CASH FLOWS FROM FINANCING ACTIVITIES: Payments on debt and capital leases (858) (757) Net proceeds from (payments of) advances from customers 670 (1,009) Payments of bank line of credit (1,323) -- Purchase of own shares -- (347) -------- -------- Net cash used in financing activities (1,511) (2,113) Net decrease in cash and cash equivalents (11,916) (9,530) Effect of changes in exchange rates on cash and cash equivalents (1,171) (995) Cash and cash equivalents at beginning of the period 141,506 119,866 -------- -------- Cash and cash equivalents at end of the period 128,419 109,341 ======== ========
The financial information has been prepared in accordance with US GAAP. # # # BIJLAGE BIJ ENGELSTALIG PERSBERICHT BE Semiconductor Industries N.V. Marconilaan 4 5151 DR Drunen BE SEMICONDUCTOR INDUSTRIES RAPPORTEERT TWEEDE KWARTAALRESULTAAT 2003 * Omzet stijgt met 15% en orders stijgen met 32% vergeleken met het eerste kwartaal 2003 * * Netto verlies E 1.6 mio, oftewel E 0.05 per aandeel, vergeleken met E 3.0 mio, oftewel E 0.10 per aandeel in het eerste kwartaal 2003 * * "Book-to-bill" ratio 0.92 vergeleken met 0.80 in het eerste kwartaal * Drunen, 22 juli 2003 - BE Semiconductor Industries N.V. ("Besi"), een vooraanstaand producent van productiesystemen voor de assemblage van halfgeleiders, heeft vandaag haar tweede kwartaalresultaten 2003 bekend gemaakt. Besi heeft in het tweede kwartaal 2003 een omzet behaald van E 23.7 mio, een stijging van 14.5% ten opzichte van een omzet van E 20.7 mio in het eerste kwartaal 2003 en een stijging van 23.4% ten opzichte van E 19.2 mio in het tweede kwartaal 2002. Het verlies in het tweede kwartaal van 2003 bedroeg E 1.6 mio, oftewel E 0.05 per aandeel, vergeleken met een verlies van E 3.0 mio, oftewel E 0.10 per aandeel, in het eerste kwartaal 2003 en een verlies van E 2.1 mio, oftewel E 0.07 per aandeel, in het tweede kwartaal van 2002. In het tweede kwartaal 2003 heeft Besi E 21.8 mio aan orders geboekt, een stijging van 32.1% ten opzichte van de orderbinnenkomst in het eerste kwartaal 2003. De orderportefeuille per 30 juni 2003 is afgenomen met 5.0% tot E 36.3 mio, vergeleken met E 38.2 mio per 31 maart 2003. De "book-to-bill" ratio was 0.92 in het tweede kwartaal 2003, vergeleken met 0.80 in het eerste kwartaal 2003 en 1.41 in het tweede kwartaal 2002. De brutomarge in het tweede kwartaal 2003 was 33.5% ten opzichte van een brutomarge van 30.0% in het eerste kwartaal 2003 en 31.2% in het tweede kwartaal 2002. De stijging van de brutomarge in het tweede kwartaal 2003 ten opzichte van het eerste kwartaal was te danken aan hogere brutomarges gerealiseerd met de verkoop van verpakkingssystemen. Per 30 juni 2003 bedroeg de kaspositie E 109.3 mio vergeleken met E 119.9 mio per 31 december 2002, een afname van E 10.6 mio. Deze afname is hoofdzakelijk het gevolg van E 6.7 mio aan investeringen met name in de aanbouw van een 7.500 m2 productiefaciliteit in Duiven teneinde een deel van Besi's activiteiten in Nederland samen te voegen, alsmede een nieuwe faciliteit voor tooling productie in China en E 1.1 mio voor aflossingen op langlopende schulden en inkoop van eigen aandelen. De omzet in het eerste halfjaar 2003 bedroeg E 44.4 mio, een stijging van 32.1% vergeleken met een omzet van E 33.6 mio in het eerste halfjaar 2002. Het verlies in het eerste halfjaar 2003 bedroeg E 4.6 mio, oftewel E 0.15 per aandeel, vergeleken met een verlies van E 6.2 mio, oftewel E 0.19 per aandeel, in het eerste halfjaar 2002. Naar aanleiding van de resultaten over het tweede kwartaal 2003 lichtte Richard Blickman, President en Chief Executive Officer toe: "Besi heeft in het tweede kwartaal van 2003 een verbetering van de netto omzet en operationele resultaten gerealiseerd ten opzichte van het eerste kwartaal 2003. Ons netto verlies is met ongeveer 50% gedaald vergeleken met het eerste kwartaal 2003, dankzij een gestegen omzet, hogere brutomarges en lagere operationele kosten door strikte kostenbeheersing. Daarnaast zijn we positief gestemd over de stijging van de orderbinnenkomst met 32.1% dit kwartaal ten opzichte van het vorige kwartaal. Tot nu toe hebben we echter nog geen regelmatige trend gezien in orderbinnenkomst." BE Semiconductor Industries N.V. ontwerpt, ontwikkelt, produceert, verkoopt, installeert en onderhoudt chip sorteer systemen, automatische flip chip die attach bonding systemen, molding systemen, trim en form integratie systemen, singulation systemen en plating systemen waarmee halfgeleiders worden bewerkt. De belangrijkste klanten zijn met name vooraanstaande Amerikaanse, Europese, Aziatische, Koreaanse en Japanse halfgeleider producenten en subcontractors. CONTACTPERSONEN: Richard Blickman Cor te Hennepe President & CEO Director of Finance Tel. 0416-384345 Tel. 0416-384345 # # # -----END PRIVACY-ENHANCED MESSAGE-----