BE Semiconductor Industries N.V.

Earnings Release • Feb 26, 2015

PRESS RELEASE

Besi Posts 2014 Revenue and Net Income of € 378.8 Million and € 71.1 Million, Up 48.6% and 341.1%, respectively, vs. 2013. Q4-14 Profit Exceeds Expectations. Cash Dividend of € 1.50 per Share Proposed for 2014

Duiven, the Netherlands, February 26, 2015 - BE Semiconductor Industries N.V. ("the Company" or "Besi") (Euronext Amsterdam: BESI; OTCQX: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the fourth quarter and year ended December 31, 2014.

Key Highlights Q4-14

• Revenue of € 89.0 million, down 14.0% vs. Q3-14 but up 67.8% vs. Q4-13 and within guidance
• Orders of € 81.4 million, down 10.5% vs. Q3-14 but up 42.2% vs. Q4-13. Order strength continues in seasonally weak quarter
• Gross margins of 43.8% vs. 45.3% in Q3-14 are at high end of guidance. Up significantly vs. 40.1% in Q4-13
• Net income of € 19.7 million, down € 1.8 million vs. Q3-14 due to sequential revenue decrease. Up € 18.3 million vs. Q4-13 due to revenue growth, gross margin expansion, cost controls and lower effective tax rate
• Net margins reach 22.2% in Q4-14 vs. 20.8% in Q3-14 and 2.7% in Q4-13

Key Highlights FY-14

• Revenue of € 378.8 million, up 48.6% vs. FY-13. Annual growth benefits from strategic positioning in leading smart phone and automotive supply chains and more robust industry environment
• Order growth of 61.8% vs. FY-13 reflects customer capacity expansion, new device introductions and market share gains in advanced packaging applications
• Gross margins increase to 43.8% vs. 39.8% in FY-13 due to sales growth, increased efficiencies from Asian production transfer and benefit of lower euro vs. USD
• Net income of € 71.1 million, up € 55.0 million vs. FY-13. Net margins increase to 18.8% vs. 6.3%
• Proposed cash dividend of € 1.50 per share for FY-14. Up 355% vs. FY-13

Outlook

• Q1-15 revenue anticipated to be up approximately 0-5% vs. Q4-14 and by 27-34% vs. Q1-14 reflecting continued order strength and favorable market position in a seasonal trough revenue period
• Gross margins will range between 46-48% vs. the 43.8% realized in Q4-14

(€ millions,	Q4-	Q3-		Q4-
except EPS)	2014	2014	Δ	2013	Δ	2014	2013	Δ
Revenue	89.0	103.5	-14.0%	53.1	+67.8%	378.8	254.9	+48.6%
Orders	81.4	90.9	-10.5%	57.2	+42.2%	407.6	251.9	+61.8%
EBITDA	16.9	26.7	-36.7%	3.0	+468%	82.1	27.9	+194%
Net income	19.7	21.5	-8.3%	1.4	+1279%	71.1	16.1	+341%
EPS (diluted)	0.52	0.56	-8.6%	0.04	+1253%	1.87	0.43	+336%
Net Cash	118.0	86.1	+37.1%	71.0	+66.3%	118.0	71.0	+66.3%

Richard W. Blickman, President and Chief Executive Officer of Besi, commented:

In 2014, Besi generated substantial revenue and profit growth and delivered another year of strong total returns to shareholders. Revenue grew by 48.6% in 2014 and net income increased by 341% to a record € 71.1 million. Our strong performance was due to renewed growth in the semiconductor assembly equipment market, new device introductions, market share gains and continued progress in making our business model more scalable, flexible and profitable.

Revenue growth in 2014 far exceeded industry average growth rates. We gained traction with the world's leading IDMs and supply chains in the provision of leading edge die attach and packaging systems serving higher growth advanced packaging applications such as smart phones, tablets and intelligent automotive electronics. Sales and market share growth in 2014 were gained in key products such as multi module and flip chip die bonding equipment and ultra-thin molding systems. We also significantly increased TCB die bonding orders year over year and have a leading position in this emerging growth category. Besi's market position in 2014 was also enhanced by increased penetration of the China smart phone market and Japanese suppliers of electronic devices and subassemblies.

In 2014, our net margins reached 18.8% approximately triple the net margins of 2013. Besi's profit improvement resulted from strong revenue growth, expanding gross margins and significant operating leverage inherent in the business model. During the year, we successfully ramped our revenue to record levels while continuing to reduce European and North American based costs and move the supply chain from Europe to Asia. In 2015, we plan on further reducing European based costs, particularly in Switzerland, after the approximate 15% increase in the value of the Swiss franc vs. the euro in January. As such, we announced today the transfer of certain die attach software, engineering, logistics and administrative functions from Switzerland to our Singapore applications engineering facility which is anticipated to save approximately € 6.5 million, net, on an annualized basis including facilities savings.

Our Q4-14 performance was stronger than anticipated. Q4-14 revenue of € 89.0 million was within guidance and exceeded Q4-13 revenue by 67.8% highlighting underlying strength in our markets and favorable market position. Besi's net profit of € 19.7 million and net margin of 22.2% exceeded expectations aided by increased production efficiencies, the depreciation of the euro vs. the USD and certain deferred tax benefits.

Besi ended the year in a strong financial position with total cash of € 135.3 million which equaled € 3.59 per share, or 19.4% of the value of our year end stock price. Given increased profits in 2014, encouraging prospects for 2015 and our strong cash position, we propose to pay a cash dividend of € 1.50 per share for approval at Besi's AGM in April 2015, an increase of 355% over 2013.

VLSI Research currently estimates that the semiconductor assembly equipment market increased by approximately 24% in 2014 reversing a secular downward trend since 2010. From our perspective, the outlook appears favorable going into 2015 given increased order levels and backlog at year end 2014 vs. 2013, order trends through February 2015 and more positive customer sentiment generally. Applications such as smart phones, intelligent automotive electronics, the Internet of Things, wearable devices, memory and streaming video content should further push demand for advanced packaging equipment in the future.

Looking to Q1-15, we anticipate approximately 0-5% revenue growth vs. Q4-14 (27-34% growth vs. Q1-14) in a seasonal trough revenue period reflecting underlying strength in our assembly equipment markets and the success of our advanced packaging systems portfolio. Based on this guidance, we expect to substantially exceed net income levels reached in Q1-14."

Besi Switzerland Engineering and Logistics Transfer:

Besi announced today the transfer of certain software engineering, logistics and related administrative functions from its Cham, Switzerland die attach facility to its Singapore die attach applications engineering facility. The transfer is expected to occur by the end of Q3-15 and result in net annualized personnel cost savings of approximately € 6 million and € 0.5 million of related facility savings. Charges of approximately € 1 million are anticipated in 2015. Furthermore, we expect to record a pension related curtailment gain of approximately € 5 million in 2015 associated with the personnel reduction. The transfer will result in headcount reduction at the Cham, Switzerland facility and an acceleration of its supply chain transfer to Besi's Asian operations but is not anticipated to result in a material change to Besi's aggregate headcount.

Fourth Quarter Results of Operations

	Q4-2014	Q3-2014	Δ	Q4-2013	Δ
Revenue	89.0	103.5	-14.0%	53.1	+67.8%
Orders	81.4	90.9	-10.5%	57.2	+42.2%
Backlog	78.7	86.4	-8.9%	50.0	+57.6%
Book to Bill Ratio	0.9x	0.9x	-	1.1x	-0.2

Besi's 14.0% sequential quarterly revenue decrease vs. Q3-14 was consistent with its seasonal H2 revenue pattern and was within guidance (-12% to -18%). On a product basis, the revenue decrease was primarily due to lower epoxy and soft solder die bonding systems for memory applications partially offset by increased plating systems for solar applications. However, Q4-14 revenue increased by 67.8% vs. Q4-13 due to improved market conditions and market share gains with particular strength in a variety of products including multi module, flip chip and epoxy die bonding systems, ultra-thin molding systems and plating equipment.

Orders decreased by 10.5% sequentially vs. Q3-14 but increased by 42.2% vs. Q4-13. The quarterly sequential decline was due to a € 9.7 million (42.5%) reduction in orders by subcontractors primarily for die bonding systems used in automotive and smart phone applications partially offset by a € 0.2 million (+0.3%) increase by IDMs. As compared to Q4-13, orders grew as IDMs in each of Besi's principal geographic markets significantly increased capacity to address new smart phone introductions, increased demand for intelligent automotive electronics and new semiconductor device production in a more robust market environment.

	Q4-2014	Q3-2014	Δ	Q4-2013	Δ
Gross Margin	43.8%	45.3%	-1.5	40.1%	+3.7
Operating Expenses	24.6	23.0	7.1%	20.5	20.0%
Financial Expense, net	0.1	0.0	NM	0.0	NM
EBITDA	16.9	26.7	-36.7%	3.0	468.1%

Besi's 43.8% gross margin in Q4-14 decreased by 1.5% vs. Q3-14 but improved by 3.7% vs. Q4-13 and was at the high end of guidance. The sequential decrease was primarily due to increased inventory provisions and a higher percentage of plating systems in the product mix. The year over year increase was due to Besi's 67.8% revenue growth, increased labor efficiencies and a decrease in the value of the euro vs. the USD.

Besi's Q4-14 operating expenses increased by € 1.6 million vs. Q3-14 and € 4.1 million vs. Q4-13 and were within guidance. The quarterly sequential increase was due primarily to a one-time € 1.2 million pension contribution to align Besi's pension scheme with current market practice. Expense growth vs. Q4-13 was due primarily to increased incentive compensation and warranty expense related to higher sales levels and increased pension costs. As a percentage of revenue, total operating expenses were 27.7% in Q4-14 as compared to 22.2% in Q3-14 and 38.7% in Q4-13.

	Q4-2014	Q3-2014	Δ	Q4-2013	Δ
Net Income	19.7	21.5	-8.3%	1.4	+1279%
Net Margin	22.2%	20.8%	+1.4	2.7%	+19.5
Tax Rate	-38.9%	10.2%	NM	-106.0%	NM

Besi's € 1.8 million net income decrease vs. Q3-14 was due primarily to lower revenue and gross margins realized and higher pension costs partially offset by a lower effective tax rate. As compared to Q4-13, the € 18.3 million increase was primarily due to significantly higher revenue and gross margins and a lower effective tax rate partially offset by increased operating expenses primarily in support of significantly higher sales levels.

Besi's lower effective tax rate vs. Q3-14 was due to a € 7.5 million upward revaluation of tax loss carry forwards at its Swiss and Dutch operations. Excluding such benefit, the effective tax rate was 14.0% in Q4-14.

	2014	2013	Δ
Revenue	378.8	254.9	48.6%
Orders	407.6	251.9	61.8%
Gross Margin	43.8%	39.8%	+4.0
EBITDA	82.1	27.9	194%
Net Income	71.1	16.1	341%

Net Margin 18.8% 6.3% +12.5 Tax Rate 0.3% 15.8% -15.5

Full Year Results of Operations 2014/2013

Besi's 48.6% revenue increase in 2014 was across all product lines and primarily due to (i) improved global economic conditions, (ii) successful new device introductions by semiconductor manufacturers, (iii) the industry's move to more advanced packaging technologies in support of increased demand for smart phone, tablet and automotive applications and (iv) market share gained by the Company. Besi's multi module, flip chip, TCB and soft solder die bonding systems as well as ultra-thin molding systems enjoyed particular market success. Similarly, orders increased by 61.8% as compared to 2013. Orders by IDMs and subcontractors represented approximately 60% and 40%, respectively, of total orders as compared to 51% and 49%, respectively, in 2013.

Besi's € 55.0 million net income growth vs. 2013 was primarily due to (i) 48.6% year over year revenue growth, (ii) gross margin improvement primarily related to increased labor and freight efficiencies from its Asian production transfer and foreign exchange benefits (iii) economies of scale resulting from revenue growth significantly outpacing expense growth and (iv) a reduction in its effective tax rate.

Financial Condition

	Q4-	Q3-		Q4-
	2014	2014	Δ	2013	Δ
Net Cash	118.0	86.1	37.1%	71.0	66.3%
Cash flow from Ops.	36.5	26.7	37.1%	18.4	98.6%

At the end of Q4-14, Besi's cash and cash equivalents increased by € 29.9 million vs. Q3-14 to € 135.3 million and net cash increased by € 31.9 million to € 118.0 million. In Q4-14, Besi generated cash flow from operations of € 36.5 million which was utilized to fund (i) € 2.9 million of capital expenditures, (ii) € 2.1 million of capitalized development spending and (iii) € 1.9 million of debt

repayments. As compared to December 31, 2013, Besi's net cash position increased by € 47.0 million due to increased profit generation.

Dividend

The Board of Management has proposed a cash dividend of € 1.50 per share for the 2014 year for approval at Besi's AGM on April 30, 2015. The proposed dividend represents a 355% increase over 2013 and a pay-out ratio relative to 2014 net income of approximately 80% vs. approximately 77% relative to 2013 net income. The dividend will be payable from May 15, 2015.

Supervisory Board Change

Mr Dirk Lindenbergh has announced that he will resign his position on the Supervisory Board at the 2015 Annual General Meeting of Shareholders ("AGM"). Mr Lindenbergh is resigning to spend more time on other personal interests and investments. The Company intends to nominate a replacement for Mr Lindenbergh for approval at Besi's 2015 AGM.

Outlook

Based on its December 31, 2014 backlog and feedback from customers, Besi forecasts for Q1-15 that:

• Revenue will increase by approximately 0-5% vs. the € 89.0 million reported in Q4-14 and approximately 27-34% vs. the € 70.0 million reported in Q1-14.
• Gross margins will range between 46-48% vs. the 43.8% realized in Q4-14.
• Operating expenses will increase by approximately 5-10% vs. the € 24.6 million reported in Q4-14.
• Capital expenditures will be approximately € 2.1 million vs. € 2.9 million in Q4-14.

Investor and media conference call

A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EST). The dial-in for the conference call is (31) 20 531 5871. To access the audio webcast, please visit www.besi.com.

Important Investor Relations Dates 2015

• Publication 2014 Annual Report March 19, 2015
• Annual General Meeting of Shareholders April 30, 2015
• Publication Q1 results April 30, 2015
• Publication Q2/semi-annual results July 23, 2015
• Publication Q3/nine month results October 22, 2015
• Publication Q4/full year results February 2016

About Besi

Besi is a leading supplier of semiconductor assembly equipment for the global semiconductor and electronics industries offering high levels of accuracy, productivity and reliability at a low cost of ownership. The Company develops leading edge assembly processes and equipment for leadframe, substrate and wafer level packaging applications in a wide range of end-user markets including electronics, mobile internet, computer, automotive, industrial, RFID, LED and solar energy. Customers are primarily leading semiconductor manufacturers, assembly subcontractors and electronics and industrial companies. Besi's ordinary shares are listed on Euronext Amsterdam (symbol: BESI) and OTCQX International (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

Auditor's Involvement in the Financial Statements of BE Semiconductor Industries N.V.

The annual numbers in this press release have been derived from the 2014 Financial Statements that have not yet been adopted and filed at the trade register. On February 25, 2015, KPMG Accountants N.V. issued an unqualified independent auditor's report on these 2014 Financial Statements.

Contacts:

Richard W. Blickman, President & CEO Citigate First Financial Cor te Hennepe, SVP Finance Uneke Dekkers/Frank Jansen Tel. (31) 26 319 4500 Tel. (31) 20 575 4021 / 24 investor.relations@besi.com Uneke.Dekkers@citigateff.nl

Frank.Jansen@citigateff.nl

Caution Concerning Forward Looking Statements

This press release contains statements about management's future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, backlog, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as "anticipate", "estimate", "expect", "can", "intend", "believes", "may", "plan", "predict", "project", "forecast", "will", "would", and similar expressions are intended to identify forward looking statements, although not all forward looking statements contain these identifying words. The financial guidance set forth under the heading "Outlook" constitutes forward looking statements. While these forward looking statements represent our judgments and 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 those contained in forward looking statements, including the discovery of weaknesses in our internal controls and procedures; our inability to maintain continued demand for our products; the impact on our business of potential disruptions to European economies from euro zone sovereign credit issues; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; failure to adequately decrease costs and expenses as revenues decline, loss of significant customers, lengthening of the sales cycle, incurring additional restructuring charges in the future, acts of terrorism and violence; inability to forecast demand and inventory levels for our products, the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; 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 diverse operations; those additional risk factors set forth in Besi's annual report for the year ended December 31, 2013 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. 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.

Consolidated Statements of Operations

(euro in thousands, except share and per share data)

		Three Months Ended		Year Ended
		December 31,		December 31,
		(unaudited)		(audited)
	2014	2013	2014	2013
Revenue	89,048	53,063	378,797	254,936
Cost of sales	50,059	31,789	212,961	153,406
Gross profit	38,989	21,274	165,836	101,530
Selling, general and administrative expenses	17,347	15,300	65,872	57,918
Research and development expenses	7,294	5,238	27,896	24,753
Total operating expenses	24,641	20,538	93,768	82,671
Operating income	14,348	736	72,068	18,859
Financial expense (income), net	143	41	741	(293)
Income before taxes	14,205	695	71,327	19,152
Income tax expense (benefit)	(5,528)	(736)	196	3,025
Net income	19,733	1,431	71,131	16,127
Net income per share – basic Net income per share – diluted	0.52 0.52	0.04 0.04	1.89 1.87	0.43 0.43
Number of shares used in computing per share amounts: - basic - diluted a	37,712,540 38,266,726	37,306,966 37,515,810	37,539,938 37,982,782	37,343,336 37,550,338

a The calculation of diluted income per share assumes the exercise of equity settled share based payments.

		Consolidated Balance Sheets
(euro in thousands)	December	September	June 30,	March 31,	December 31,
	31, 2014	30, 2014	2014	2014	2013
	(audited)	(unaudited)	(unaudited)	(unaudited)	(audited)
ASSETS
Cash and cash equivalents	135,322	105,383	83,794	91,931	89,586
Accounts receivable	93,248	116,542	117,598	70,414	53,697
Inventories	69,428	76,555	73,241	73,832	65,167
Income tax receivable	280	881	1,033	1,744	1,228
Other current assets	10,668	7,776	9,070	8,572	9,328
Total current assets	308,946	307,137	284,736	246,493	219,006
Property, plant and equipment	27,248	25,646	24,682	24,486	24,649
Goodwill	44,553	44,105	43,537	43,403	43,541
Other intangible assets	40,274	39,338	38,493	37,480	35,594
Deferred tax assets	21,710	14,045	14,887	15,847	16,485
Other non-current assets	1,677	1,551	1,530	1,500	1,435
Total non-current assets	135,462	124,685	123,129	122,716	121,704
Total assets	444,408	431,822	407,865	369,209	340,710
LIABILITIES AND SHAREHOLDERS' EQUITY
Notes payable to banks	13,568	15,756	17,720	16,079	15,574
Current portion of long-term debt
and financial leases	815	815	344	309	-
Accounts payable	38,381	43,534	51,768	35,072	21,056
Accrued liabilities	39,229	41,872	34,052	28,895	23,157
Total current liabilities	91,993	101,977	103,884	80,355	59,787
Other long-term debt and
financial leases	2,978	2,760	3,231	2,750	3,059
Deferred tax liabilities	5,956	5,365	5,386	5,413	5,444
Other non-current liabilities	14,657	8,807	8,663	8,465	8,262
Total non-current liabilities	23,591	16,932	17,280	16,628	16,765
Total equity	328,824	312,913	286,701	272,226	264,158
Total liabilities and equity	444,408	431,822	407,865	369,209	340,710

(euro in thousands)		Three Months Ended		Year Ended
		December 31,		December 31,
		(unaudited)		(unaudited)
	2014	2013	2014	2013
Cash flows from operating activities:
Operating income	14,348	736	72,068	18,859
Depreciation and amortization	2,537	2,240	10,040	9,084
Share based compensation expense	893	310	3,869	1,173
Other non-cash items	(312)	(852)	28	(919)
Changes in working capital	20,451	17,451	(10,912)	(1,179)
Income tax received (paid)	(1,354)	(1,203)	(2,175)	(9,041)
Interest received (paid)	(19)	(283)	377	170
Net cash provided by (used in) operating activities	36,544	18,399	73,295	18,147
Cash flows from investing activities:
Capital expenditures	(2,905)	(1,658)	(6,474)	(3,920)
Capitalized development expenses	(2,056)	(1,664)	(9,314)	(7,919)
Proceeds from sale of equipment	17	81	34	202
Net cash used in investing activities	(4,944)	(3,241)	(15,754)	(11,637)
Cash flows from financing activities: Proceeds from (payments of) bank lines of credit Proceeds from (payments of) debt and financial	(2,119)	(3,886)	(1,520)	(8,746)
leases	216	125	(81)	1,133
Dividend paid to shareholders			(12,402)	(11,168)
Reissuance (purchase) of treasury shares	-	-	1,123	(2,737)
Other financing activities	(58)	(50)	(58)	(50)
Net cash provided by (used in) financing activities	(1,961)	(3,811)	(12,938)	(21,568)
Net increase/(decrease) in cash and cash equivalents	29,639	11,347	44,603	(15,058)
Effect of changes in exchange rates on cash and
cash equivalents Cash and cash equivalents at beginning of the	300	(255)	1,133	(1,714)
period	105,383	78,494	89,586	106,358
Cash and cash equivalents at end of the period	135,322	89,586	135,322	89,586

Consolidated Cash Flow Statements

Supplemental Information (unaudited)

(euro in millions, unless stated otherwise)

REVENUE	Q1-2013		Q2-2013		Q3-2013		Q4-2013		Q1-2014		Q2-2014		Q3-2014		Q4-2014
Per geography:
Asia Pacific	49.9	78%	60.1	83%	48.4	74%	33.1	62%	49.8	71%	74.1	64%	76.3	74%	55.1	62%
EU / USA	14.1	22%	12.3	17%	17.0	26%	20.0	38%	20.2	29%	42.1	36%	27.2	26%	33.9	38%
Total	64.0	100%	72.4	100%	65.4	100%	53.1	100%	70.0	100%	116.2	100%	103.5	100%	89.0	100%
ORDERS	Q1-2013		Q2-2013		Q3-2013		Q4-2013		Q1-2014		Q2-2014		Q3-2014		Q4-2014
Per geography:
Asia Pacific	49.8	78%	64.5	78%	33.3	69%	36.9	64%	76.6	69%	88.4	71%	55.5	61%	50.8	62%
EU / USA	14.0	22%	18.2	22%	14.9	31%	20.3	36%	34.5	31%	35.8	29%	35.4	39%	30.6	38%
Total	63.9	100%	82.7	100%	48.2	100%	57.2	100%	111.1	100%	124.2	100%	90.9	100%	81.4	100%
Per customer type:
IDM	28.1	44%	29.8	36%	30.8	64%	39.0	68%	49.4	45%	60.0	48%	68.1	75%	68.3	84%
Subcontractors	35.8	56%	52.9	64%	17.4	36%	18.2	32%	61.7	56%	64.2	52%	22.8	25%	13.1	16%
Total	63.9	100%	82.7	100%	48.2	100%	57.2	100%	111.1	100%	124.2	100%	90.9	100%	81.4	100%
BACKLOG	March 31, 2013		June 30, 2013		Sep 30, 2013		Dec 31, 2013		Mar 31, 2014		Jun 30, 2014		Sep 30, 2014		Dec 31, 2014
Backlog	52.8		63.1		45.8		50.0		91.1		99.0		86.4		78.7
HEADCOUNT	March 31, 2013		June 30, 2013		Sep 30, 2013		Dec 31, 2013		Mar 31, 2014		Jun 30, 2014		Sep 30, 2014		Dec 31, 2014
Fixed staff (FTE)
Asia Pacific	820	56%	825	57%	820	57%	810	56%	839	57%	897	60%	895	59%	908	60%
EU / USA	644	44%	634	43%	630	43%	624	44%	623	43%	610	40%	611	41%	602	40%
Total	1,464	100%	1,458	100%	1,449	100%	1,434	100%	1,462	100%	1,507	100%	1,506	100%	1,510	100%
Temporary staff (FTE)
Asia Pacific	2 9	48%	2 7	44%	1 6	37%	2	8%	7 5	70%	109	66%	8 1	57%	6 1	50%
EU / USA	3 1	52%	3 4	56%	2 8	63%	2 2	92%	3 2	30%	5 6	34%	6 2	43%	6 1	50%
Total	6 0	100%	6 1	100%	4 4	100%	2 4	100%	107	100%	165	100%	143	100%	122	100%
Total fixed and temporary staff (FTE)	1,524		1,520		1,493		1,458		1,569		1,672		1,649		1,632
OTHER FINANCIAL DATA	Q1-2013		Q2-2013		Q3-2013		Q4-2013		Q1-2014		Q2-2014		Q3-2014		Q4-2014
Gross profit:	25.4	39.6%	29.2	40.3%	25.6	39.1%	21.3	40.2%	29.7	42.4%	50.7	43.7%	46.9	45.3%	39.1
Restructuring charges	0.0		(0.1)	0.1%	(0.0)	0.1%	0.0	0.1%	0.1	0.1%	0.5	0.5%	0.0		0.1
Total	25.4	39.6%	29.3	40.4%	25.6	39.2%	21.3	40.1%	29.6	42.3%	50.3	43.2%	46.9	45.3%	39.0
Selling, general and admin expenses:
SG&A expenses	13.6	21.2%	13.2	18.2%	13.7	20.9%	14.7	27.7%	15.0	21.5%	16.8	14.5%	15.2	14.7%	17.1
Amortization of intangibles	0.5	0.8%	0.5	0.7%	0.5	0.8%	0.5	1.0%	0.3	0.4%	0.3	0.2%	0.3	0.3%	0.2
Restructuring charges	0.1	0.2%	0.5	0.7%	0.0	0.1%	0.1	0.2%	0.2	0.2%	0.4	0.3%	0.0	-	0.0	-
Total	14.2	22.2%	14.2	19.6%	14.2	21.8%	15.3	28.8%	15.5	22.1%	17.5	15.1%	15.5	15.0%	17.3
Research and development expenses:
R&D expenses	7.8	12.2%	8.3	11.4%	7.1	10.8%	6.5	12.3%	7.7	11.1%	7.9	6.8%	8.2	7.9%	8.2
Capitalization of R&D charges	(2.1)	-3.2%	(2.2)	-3.0%	(1.7)	-2.5%	(2.0)	-3.8%	(2.8)	-4.0%	(2.4)	-2.1%	(2.0)	-2.0%	(2.1)
Amortization of intangibles	1.0	1.6%	0.6	0.8%	0.5	0.8%	0.7	1.3%	1.1	1.6%	1.2	1.1%	1.3	1.3%	1.2
Restructuring charges	0.1	0.2%	0.1	0.2%	0.0	-	0.0	-	0.0	-	0.4	0.3%	0.0	-	0.0	-
Total	6.8	10.7%	6.8	9.4%	5.9	9.0%	5.2	9.9%	6.1	8.7%	7.1	6.1%	7.5	7.2%	7.3
Financial expense (income), net:
Interest expense (income), net	(0.2)		(0.0)		(0.1)		(0.0)		(0.1)		(0.0)		(0.1)		(0.1)
Foreign exchange (gains) \ losses	(0.4)		(0.0)		0.3		0.1		0.2		0.5		0.1		0.2
Total	(0.6)		(0.0)		0.2		0.0		0.2		0.5		(0.0)		0.1
Operating income (loss)
as % of net sales	4.3	6.7%	8.3	11.5%	5.5	8.4%	0.7	1.4%	8.1	11.6%	25.7	22.1%	23.9	23.1%	14.3
EBITDA
as % of net sales	7.0	10.9%	10.5	14.4%	7.5	11.5%	3.0	5.6%	10.5	15.0%	28.1	24.0%	26.7	25.8%	16.9
Net income (loss)
as % of net sales	3.8	5.9%	6.5	9.0%	4.4	6.8%	1.4	2.7%	7.0	10.1%	22.9	19.7%	21.5	20.8%	19.7
Income per share
Basic Diluted	0.10 0.10		0.17 0.17		0.12 0.12		0.04 0.04		0.20 0.20		0.60 0.59		0.57 0.56		0.53 0.52	43.9% 0.1% 43.8% 19.2% 0.3% 19.5% 9.2% -2.3% 1.3% 8.2% 16.1% 19.0% 22.2%