ASM INTERNATIONAL REPORTS
FOURTH QUARTER 2009 AND FULL YEAR 2009 OPERATING RESULTS
ALMERE, THE NETHERLANDS, February 24, 2010 - ASM International N.V. (NASDAQ: ASMI
and Euronext Amsterdam: ASM) reports today its fourth quarter 2009 and full year
2009 operating results in accordance with US GAAP.
Fourth quarter:
· 2009 fourth quarter net sales were EUR 201.9 million, up 12% from the third
quarter of 2009 and up 34% from the fourth quarter of 2008. Compared to the third
quarter of 2009, Front-end sales were up 30%, Back-end sales were up 7%;
· Restructuring expenses of EUR 6.9 million were incurred and a reassessment
of the inventory impairment charge that was recognized in the second and third
quarter resulted in a benefit of EUR 2.3 million in the fourth quarter of 2009;
· Net loss (allocated to the shareholders of the parent) for the quarter 2009
was EUR 11.7 million, or EUR 0.23 diluted net loss per share, as compared to net
loss of EUR 15.8 million, or EUR 0.31 diluted net loss per share for the third
quarter of 2009 and net loss of EUR 6.2 million or EUR 0.12 diluted net earnings per
share for the fourth quarter of 2008;
· 2009 fourth quarter bookings were EUR 252.1 million, up 23% from the third
quarter of 2009. Bookings in our Front-end segment were up 32% and bookings in our
Back-end segment were up 21%.
· We successfully finalized the refinancing of the Company by the placement
of EUR 150 million 6.5% senior unsecured convertible bonds, due 2014 and obtained a
new standby revolving credit facility of EUR 65 million, In January 2010 the standby
facility was increased to EUR 90 million.
Full year:
· 2009 net sales were EUR 590.7 million, down 21% compared to 2008. Sales
from our Front-end segment were down 46% and sales from our Back-end segment were
down 4%;
· Restructuring expenses of EUR 35.7 million were incurred and an inventory
impairment charge of EUR 24.2 million was recognized;
· Net loss, allocated to the shareholders of the parent, was EUR 106.6
million, or EUR 2.06 diluted net loss per share, as compared to net earnings EUR
18.4 million for 2008, or EUR 0.35 diluted net earnings per share;
· Bookings at EUR 696.8 million, up 9% compared to 2008. Year-end backlog was
EUR 196.7 million, up 117% from the end of the previous year;
· Cash flow from operations amounted to EUR 62.7million. Front-end cash flow
was negative EUR 23.7 million, Back-end positive EUR 86.4 million.
Investor Contacts:
Erik Kamerbeek
Investor Relations
+31 88 100 8500
Mary Jo Dieckhaus
Investor Relations
+1 212-986-290
Media Contact:
Ian Bickerton
+31 625 018 512