SÜSS MicroTec AG: Quarterly Figures for 2012 Published

  • Order Intake plus 59 percent sequentially
  • Sales stable compared to prior year
  • Book-to-Bill ratio of 1.25

Garching, May 8, 2012 - SÜSS MicroTec, a global supplier of equipment and process solutions for the semiconductor industry and related markets, published its report for the first quarter of the fiscal year 2012 today. Order intake improved considerably in the past three months and reached the upper end of our guidance. Order intake amounted to EUR 39.0 million, which is a 59 percent increase compared to the fourth quarter of 2011. Compared with the strong first quarter of 2011, order intake decreased by approximately 19 percent (previous year: EUR 48.3 million). Sales came in at EUR 31.2 million, which is 2.5 percent below the previous year's level of EUR 32.0 million. The Order backlog amounted to EUR 99.8 million, this number includes the backlog of Tamarack Scientific Co., Inc., acquired on March 29, 2012 (previous year: EUR 130.5 million).

In Q1 2012 the group's core division - Lithography - was strengthened by the acquisition of Tamarack Scientific Co., Inc., which was founded in 1966 and is headquartered in Southern California. Tamarack is an industry leading supplier of industrial laser processing and photolithography systems which are used to micro-fabricate a wide range of advanced electronic technology products.

The Lithography segment posted a 15 percent decrease in sales to EUR 21.5 million (previous year: EUR 25.2 million) during the quarter under review. The Substrate Bonder division succeeded in growing its revenues by approximately 19 percent to EUR 4.3 million (previous year: EUR 3.6 million). The Photomask Equipment division also increased sales considerably from EUR 1.1 million to EUR 4.5 million in Q1 2012.

Earnings before interest and tax (EBIT) came in at EUR -0.04 million (previous year: EUR 2.5 million). The EBIT for Q1 2012 includes one-time currency effects of EUR -0.4 million. The effects resulted from the settlement of company-internal foreign currency credits by SÜSS MicroTec AG against SÜSS MicroTec Inc. in connection with the acquisition of Tamarack. Earnings after taxes (EAT) for continued operations amounted to EUR -0.2 million, compared to EUR 2.4 million in the previous year. Earnings after taxes for the continued and discontinued operations amounted to EUR 1.3 million and include a tax free gain resulting from the sale of the Test Business in 2010. The basic earnings per share (EPS), therefore, totaled EUR 0.07 (previous year: EUR 0.13).

Cash and interest bearing securities amounted to EUR 52.6 million at the end of the first quarter. Net liquidity amounted to EUR 38.5 million (March 31, 2011: EUR 35.1 million). The Free Cash Flow for the fiscal year, before the effects from the acquisition of Tamarack and the final payment from the sale of the Test Business, was EUR 0.3 (previous year's quarter: EUR -2.2 Million).

Outlook

Considering the effects arising from the consolidation of Tamarack, the Management Board decided to raise the previous sales guidance of more than EUR 145 million. Sales of more than EUR 155 million are now expected for the current fiscal year, 2012. The guidance for the EBIT-margin is not affected and is still expected to come in between 5 and 10 percent. As of today the free cash flow is expected to reach a mid-single million Euro figure. For the second quarter of the fiscal year 2012 the company again expects orders to be between EUR 30 - 40 million.