BE Semiconductor Industries N.V.

Earnings Release • Oct 28, 2010

PRESS RELEASE

Continued Revenue and Profit Growth in Q3-2010

Duiven, the Netherlands, October 28, 2010 - BE Semiconductor Industries N.V. ("the Company" or "Besi") (NYSE Euronext: BESI), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the third quarter ended September 30, 2010.

Key Highlights

• Q3-10 revenue growth of 12.4% within guidance. Gross margins of 40.1% exceed prior guidance
• Net income of € 15.0 million in Q3-10 vs. € 15.4 million in Q2-10 and € 11.0 million on an adjusted basis
• Cash increases by € 6.9 million vs. Q2-10 to € 55.0 million
• Orders down 34.1% vs. Q2-10 consistent with industry trends as semiconductor capacity expansion slows

(€ millions)	Q3-2010	Q2-2010	Δ	Q3-2009	Δ
Revenue	100.6	89.5	12.4%	48.7	106.6%
Operating income (loss)	19.5	13.9	40.3%	(1.6)	NM
EBITDA	22.2	16.2	37.0%	1.1	NM
Net income (loss)	15.0	15.4	(2.6%)	(3.2)	NM
Adjusted net income (loss)a	15.0	11.0	36.4%	(6.0)	NM
EPS	0.39	0.40	(2.5%)	(0.11)	NM
Orders	88.1	133.7	(34.1%)	52.9	66.5%
Backlog	123.5	136.0	(9.2%)	44.9	175.0%
Cash flow (deficit) from ops.	10.5	(0.4)	NM	(0.8)	NM
Cash	55.0	48.1	14.3%	68.0	(19.1%)
Total Debt a	49.9	49.4	1.0%	53.7	(7.1%)

Excludes € 4.8 million net deferred tax asset write-up and € 0.4 million restructuring charges, net in Q2-10.

Richard W. Blickman, President and Chief Executive Officer of Besi, commented: "We are pleased to report continued progress in Q3-10 on the profitable execution of our business strategy. During the quarter, shipments reached record levels due to significant capacity expansion by our customers in the first half of 2010. In combination with improved production efficiencies and ongoing cost control efforts, we also achieved record operating profits this quarter. Revenue of € 100.6 million in Q3-10 reflected both the success of our current assembly product portfolio and our ability to scale production to meet elevated industry demand. Net margins of 14.9% were favorably influenced by sequential revenue growth, better than anticipated gross margins and operating leverage as we were able to ramp revenue with only a limited increase in our overhead levels. In addition, our cash position increased by approximately € 7 million this quarter and exceeded our debt by € 5.1 million at quarter end providing a solid basis to finance future growth.

Underscoring Besi's business and financial transformation this year, our revenue increased year over year by approximately € 152 million to € 246.7 million in the first nine months of 2010 and our adjusted net income increased by approximately € 52 million to € 27.2 million.

During the latter part of the third quarter, order rates slowed as compared to Q2-2010 primarily due to cut backs in near term production requirements by Asian subcontractors for personal and net book computing applications after the rapid increase in the first half of the year. Reduced order rates will lower our revenue and operating profit levels in Q4-10. However, based on feedback from customers, we believe the decline in bookings this quarter reflects a reduction in 2011's projected rate of growth for the assembly equipment market rather than a new cyclical downturn."

Quarterly Financial Performance

Our quarterly financial performance has improved significantly since 2009. Set forth below is a summary of Besi's quarterly combined revenue, adjusted net income (loss) and backlog for 2009 and the first nine months of 2010 as if the Esec acquisition had occurred on January 1, 2009.

(€ millions)		2009
	Proforma*
	Q1	Q2	Q3	Q4	Q1	Q2	Q3
Revenue	21.1	30.5	48.7	53.2	56.6	89.5	100.6
Adjusted net income (loss)	(19.2)	(10.9)	(6.0)	(3.8)	1.2	11.0	15.0
Backlog	33.6	40.7	44.9	51.0	91.7	136.0	123.5

* Assumes Esec acquisition as of January 1, 2009.

Third Quarter Results of Operations

Besi's sequential revenue increase of € 11.1 million (12.4%) in the third quarter of 2010 was primarily due to increased shipments of die attach systems partially offset by lower wire bonding shipments as per the Q2-10 product line restructuring. The increase was in line with prior guidance (+10-15%). Revenue in the third quarter of 2010 more than doubled as compared to the € 48.7 million reported in the third quarter of 2009 due to improved industry conditions and the increased contribution of die attach shipments as a result of the Esec acquisition.

Orders for the third quarter of 2010 were € 88.1 million, a decrease of € 45.6 million, or 34.1%, as compared to the second quarter of 2010. However, Q3-10 orders still represented an increase of € 35.2 million (66.5%) as compared to the third quarter of 2009. The quarterly sequential order decline was primarily focused on die attach systems and, to a lesser extent, packaging systems. On a customer basis, the sequential order decrease in the third quarter of 2010 reflected a € 36.2 million (50.1%) decrease by subcontractors and a € 9.4 million (15.3%) decrease by IDMs. Backlog at September 30, 2010, was € 123.5 million, a decrease of € 12.5 million, or 9.2%, as compared to June 30, 2010.

Besi's gross margin for the third quarter of 2010 was 40.1% as compared to 38.7% in the second quarter of 2010 and 34.0% (26.9% adjusted) in the third quarter of 2009 and exceeded prior guidance (37.5%-39.5%). The increase as compared to the second quarter of 2010 was due primarily to higher die attach and plating margins.

Besi's operating expenses were € 20.9 million in the third quarter of 2010 as compared to € 20.3 million in the second quarter of 2010 (excluding € 0.4 million of restructuring charges) and € 17.8 million in the third quarter of 2009 (excluding € 0.5 million of restructuring charges). The sequential operating expense increase was primarily due to higher selling expenses in support of expanded sales activities. In the third quarter of 2010, Besi capitalized € 1.3 million of development expenses as compared to € 1.2 million in the second quarter of 2010. As a % of revenue, total operating expenses (excluding restructuring charges) declined to 20.8% in the third quarter of 2010 as compared to 22.7% in the second quarter of 2010 and 36.3% in the third quarter of 2009 due to the benefits of Besi's cost control efforts combined with higher rates of revenue growth.

Besi recorded a tax provision of € 3.4 million in the third quarter of 2010 as compared to a net tax benefit of € 2.3 million in the second quarter of 2010 due to a re-assessment of the recoverability of net operating losses at its Esec subsidiary.

Nine Month Results 2010/2009

For the first nine months of 2010, Besi's revenue increased to € 246.7 million as compared to € 94.7 million in the first nine months of 2009. Increased revenue growth was due to the expansion and acceleration of the industry recovery which began in the second quarter of 2009 as well as significant revenue contributed by Esec's die bonding and wire bonding units from their April 2009 acquisition date. Similarly, orders for the nine months of 2010 were € 319.1 million, more than triple the € 103.3 million recorded for the first nine months of 2009.

For the first nine months of 2010, Besi recorded adjusted net income of € 27.2 million (€ 0.69 per share) as compared to an adjusted net loss of € 24.2 million (or (€ 0.74) per share) for the first nine months of 2009. The improvement in adjusted net income was due primarily to (i) significantly higher revenue and gross margin levels, (ii) improved pricing conditions and (iii) the benefits of its restructuring and Esec integration efforts. Set forth below is a reconciliation of Besi's reported and adjusted net income (loss) for each of the respective nine month periods.

(€ millions)		Nine Months
	2010	2009
Reported net income	27.8	18.9
Restructuring charges, net	5.0	3.8
Deferred tax write-up	(4.8)	-
Gain on debt retirement	(0.8)	-
Acquisition gain, net	-	(41.4)
Release purchase commitments	-	(1.7)
Taxes/other	-	(3.8)
Adjusted net income (loss)	27.2	(24.2)

Financial Condition

Our cash and cash equivalents increased to € 55.0 million at September 30, 2010 as compared to € 48.1 million at June 30, 2010. In comparison, total debt and capital leases of € 49.9 million at September 30, 2010 increased only slightly as compared to € 49.4 million at June 30, 2010. The € 6.4 million sequential increase in Besi's net cash position at September 30, 2010 was primarily due to profits generated during the quarter partially offset by increased working capital requirements associated with current revenue levels.

Outlook

VLSI Research, a leading independent research analyst for the semiconductor equipment industry, now forecasts that the semiconductor assembly equipment industry will reach \$4.9 billion in 2010, representing growth of 152% in 2010 versus 2009. It also forecasts that assembly market growth will slow to 4.3% in 2011.

Based on our September 30, 2010 backlog and feedback from customers, we forecast for Q4-10 that:

• Revenue will decrease by approximately 5-10% as compared to the € 100.6 million reported in Q3-10.
• Gross margins will range between 38.5%-40.5% as compared to the 40.1% realized in Q3-10.
• Operating expenses will increase by approximately 10%-15% as compared to the € 20.9 million reported in Q3-10.
• Capital expenditures will be approximately € 2.5 million as compared to € 2.1 million in Q3-10.

As a result, we anticipate that our operating income will decline sequentially in Q4-10 as compared to Q3-10.

Investor and media conference call

A conference call and webcast for investors and media will be held today at 4 p.m. CET (10:00 a.m. New York time). The dial-in for the conference call is (31) 10 29 44 228. To access the audio webcast, please visit www.besi.com.

About Besi

Besi is a leading supplier of semiconductor assembly equipment for the global semiconductor and electronics industries. The Company develops leading edge assembly processes and equipment for leadframe, array connect and wafer level packaging applications in a wide range of end-user markets including electronics, 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 NYSE Euronext Amsterdam (symbol: BESI) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

Contacts: Richard W. Blickman Cor te Hennepe Tel. (31) 26 319 4500 Tel. (31) 26 319 4500 investor.relations@besi.com investor.relations@besi.com

President & CEO Senior Vice President Finance

European IR contact:

Uneke Dekkers/Frank Jansen Citigate First Financial Tel. (31) 20 575 4021 / 24

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" constitute 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 our inability to maintain continued demand for our products, the impact of the worldwide economic downturn on our business, 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; 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, 2009 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

		Three Months Ended September 30, (unaudited)	Nine Months Ended September 30, (unaudited)
	2010	2009	2010	2009
Revenue Cost of sales	100,632 60,257	48,704 32,140	246,700 152,786	94,723 64,653
Gross profit	40,375	16,564	93,914	30,070
Acquisition gain	-	150	-	41,357
Selling, general and administrative expenses Research and development expenses	14,714 6,184	13,442 4,864	43,578 17,903	35,482 14,616
Total operating expenses	20,898	18,306	61,481	50,098
Operating income (loss)	19,477	(1,592)	32,433	21,329
Financial expense (income), net	(1,062)	(1,116)	(2,404)	(2,992)
Income (loss) before taxes	18,415	(2,708)	30,029	18,337
Income tax expense (benefit)	3,381	541	2,195	(537)
Net income (loss)	15,034	(3,249)	27,834	18,874
Net income (loss) per share – basic Net income (loss) per share – diluted	0.44 0.39b)	(0.11) (0.11)c)	0.82 0.75b)	0.58 0.52a)
Number of shares used in computing per share amounts: - basic - diluted	33,931,901 39,366,047b)	30,815,311 30,815,311c)	33,881,621 39,315,768b)	32,671,721 40,052,084a)

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

^a The calculation of the diluted income (loss) per share assumes conversion of the Company's 5.5% convertible notes

due 2012 as such conversion would have a dilutive effect (7,082,927 ordinary shares). b The calculation of the diluted income (loss) per share assumes conversion of the Company's 5.5% convertible notes

due 2012 as such conversion would have a dilutive effect (5,434,146 ordinary shares). c The calculation of the diluted income (loss) per share does not assume conversion of the Company's 5.5% convertible notes due 2012 as such conversion would have a dilutive effect (7,082,927 ordinary shares).

Consolidated Balance Sheets

(euro in thousands)	September	June 30,	March 31,	December
	30, 2010	2010	2010	31, 2009
	(unaudited)	(unaudited)	(unaudited)	(audited)
ASSETS
Cash and cash equivalents	54,965	48,092	47,714	73,125
Accounts receivable	77,870	75,423	52,391	36,341
Inventories	80,069	72,860	65,158	55,133
Income tax receivable	698	698	515	487
Other current assets	12,418	9,384	9,296	7,714
Total current assets	226,020	206,457	175,074	172,800
Property, plant and equipment	26,064	26,316	24,863	24,312
Goodwill	43,596	44,435	43,686	43,162
Other intangible assets	22,129	22,114	21,244	19,696
Deferred tax assets	8,074	10,646	8,717	8,429
Other non-current assets	1,224	1,239	1,215	1,141
Total non-current assets	101,087	104,750	99,725	96,740
Total assets	327,107	311,207	274,799	269,540
LIABILITIES AND SHAREHOLDERS' EQUITY
Notes payable to banks Current portion of long-term debt and	19,305	17,962	15,526	13,908
financial leases	2,621	2,376	1,962	1,911
Accounts payable	40,883	39,171	31,334	27,290
Accrued liabilities	38,966	37,371	35,844	30,247
Total current liabilities	101,775	96,880	84,666	73,356
Convertible notes Other long-term debt and financial	27,271	27,155	27,021	35,068
leases	752	1,879	2,258	2,570
Deferred tax liabilities	620	656	518	530
Other non-current liabilities	1,949	1,471	1,322	1,740
Total non-current liabilities	30,592	31,161	31,119	39,908
Total equity	194,740	183,166	159,014	156,276
Total liabilities and equity	327,107	311,207	274,799	269,540

The financial information has been prepared in accordance with IFRS.

(euro in thousands)		Three Months Ended September 30, (unaudited)	Nine Months Ended September 30, (unaudited)
	2010	2009	2010	2009
Cash flows from operating activities:
Net income (loss)	15,034	(3,249)	27,834	18,874
Depreciation and amortization Other non-cash items Badwill arising from acquisition Changes in working capital	2,770 2,013 - (9,332)	2,680 558 (150) (670)	7,112 1,486 - (43,258)	6,820 (693) (41,357) 5,039
Net cash provided by (used in) operating activities	10,485	(831)	(6,826)	(11,317)
Cash flows from investing activities: Capital expenditures Capitalized development expenses Cash inflow on acquisition Proceeds from sale of equipment	(2,191) (1,282) - 134	(1,272) (1,747) 5 -	(5,083) (4,388) - 234	(1,449) (4,864) 19,462 44
Net cash used in investing activities	(3,339)	(3,014)	(9,237)	13,193
Cash flows from financing activities: (Payments of) proceeds from bank lines of credit Capital tax on capital received Repurchase of convertible notes Payments of debt and financial leases Other financing activities	1,524 (434) - (373) -	(336) - - (22) -	5,726 (434) (7,352) (2,212) (45)	(3,509) - - (4,230) -
Net cash provided by (used in) financing activities	717	(358)	(4,317)	(7,739)
Net increase/(decrease) in cash and cash	7,863	(4,203)	(20,380)	(5,859)
equivalents Effect of changes in exchange rates on cash and cash equivalents	(990)	(2)	2,220	(154)
Cash and cash equivalents at beginning of the period	48,092	72,200	73,125	74,008
Cash and cash equivalents at end of the period	54,965	67,995	54,965	67,995

Consolidated Cash Flow Statements

Supplemental Information (unaudited)

(euro in millions, unless stated otherwise)

REVENUE	Q1-2008		Q2-2008		Q3-2008		Q4-2008			Q1-2009		Q2-2009		Q3-2009		Q4-2009		Q1-2010		Q2-2010		Q3-2010
Per geography:
Asia Pacific	24.4	66%	30.2	65%	22.3	64%	14.5	48%	8.3	53%	24.0	79%	36.7	76%	40.0	75%	44.6	79%	73.1	82%	81.0	81%
Europe and ROW USA	9.2 3.5	25% 9%	14.6 1.7	31% 4%	10.3 2.6	29% 7%	12.4 3.7	41% 12%	5.1 2.2	33% 14%	4.2 2.3	14% 8%	8.2 3.8	17% 8%	7.1 6.1	13% 11%	8.2 3.8	14% 7%	9.7 6.7	11% 7%	12 7.6	12% 8%
Total	37.1	100%	46.5	100%	35.2	100%	30.6	100%	15.6	100%	30.5	100%	48.7	100%	53.2	100%	56.6	100%	89.5	100%	100.6	100%
ORDERS	Q1-2008		Q2-2008		Q3-2008		Q4-2008		Q1-2009		Q2-2009		Q3-2009		Q4-2009		Q1-2010		Q2-2010		Q3-2010
Per geography:
Asia Pacific Europe and ROW	23.9 12.4	61% 31%	30.1 12.9	67% 29%	14.2 7.0	59% 29%	11 3.6	60% 20%	6.8 4.0	53% 31%	28.6 5.0	76% 13%	42.1 7.7	80% 15%	47.9 7.2	81% 12%	80.6 9.8	83% 10%	108.3 16.8	81% 13%	68.7 12.9	78% 15%
USA	3.1	8%	1.8	4%	3.0	12%	3.6	20%	2.0	16%	3.9	10%	3.1	6%	4.1	7%	6.9	7%	8.6	6%	6.5	7%
Total	39.4		44.8		24.2		18.2		12.8		37.5		52.9		59.2		97.3		133.7		88.1
		100%		100%		100%		100%		100%		100%		100%		100%		100%		100%		100%
Per customer type:
IDM	22.4	57%	21.4	48%	14.8	61%	12.8	70%	5.9	46%	16	43%	18.4	35%	27.7	47%	39.8	41%	61.5	46%	52.1	59%
Subcontractors	17.0	43%	23.4	52%	9.4	39%	5.4	30%	6.9	54%	21.5	57%	34.5	65%	31.5	53%	57.5	59%	72.2	54%	36.0	41%
Total	39.4	100%	44.8	100%	24.2	100%	18.2	100%	12.8	100%	37.5	100%	52.9	100%	59.2	100%	97.3	100%	133.7	100%	88.1	100%
BACKLOG	Mar 31, 2008		Jun 30, 2008		Sep 30, 2008		Dec 31, 2008		Mar 31, 2009		Jun 30, 2009 1)		Sep 30, 2009 1)		Dec 31, 2009 1)		Mar 31, 2010		June 30, 2010		Sep 30, 2010
Backlog	50.6		48.9		37.8		25.4		22.6		40.6		44.8		51.0		91.7		136		123.5
1) Including opening backlog Esec
HEADCOUNT 2)	Mar 31, 2008		Jun 30, 2008		Sep 30, 2008		Dec 31, 2008		Mar 31, 2009		Jun 30, 2009		Sep 30, 2009		Dec 31, 2009		Mar 31, 2010		June 30, 2010		Sep 30, 2010
Europe	633	55%	651	55%	660	55%	650	55%	583	54%	766	54%	750	54%	728	53%	684	49%	683	47%	695	46%
Asia Pacific	475	41%	477	41%	490	41%	485	41%	463	43%	613	43%	601	43%	614	44%	665	48%	724	50%	760	51%
USA	51	4%	48	4%	46	4%	47	4%	42	4%	41	3%	42	3%	42	3%	43	3%	44	3%	46	3%
Total	1,159	100%	1,176	100%	1,196	100%	1,182	100%	1,088	100%	1,420	100%	1,393	100%	1,384	100%	1,392	100%	1,451	100%	1,501	100%
2) Excluding temporary staff
OTHER FINANCIAL DATA	Q1-2008		Q2-2008		Q3-2008		Q4-2008		Q1-2009		Q2-2009		Q3-2009		Q4-2009		Q1-2010		Q2-2010		Q3-2010
Gross profit:	12.8	34.5%	16.6	35.7%	13.1	37.2%	9.0	29.4%	3.5	22.4%	9.6	31.5%	13.5	27.7%	16.3	30.6%	21.7	38.3%	34.8	38.9%	40.5	40.3%
Amortization of intangibles	(0.3)	-0.9%	(0.3)	-0.7%	(0.3)	-0.8%	(0.4)	-1.3%	(0.3)	-1.4%	(0.3)	-0.8%	(0.3)	-0.6%	(0.2)	-0.3%	(0.2)	-0.3%	(0.1)	-0.2%	(0.1)	-0.2%
Restructuring charges	-		-		-		(0.3)	-1.0%	(0.7)	-4.5%	-		-		(5.4)	-10.2%	(2.6)	-4.6%	0.0		-
Release purchase oblig/fair value adj. Esec	-		-		-		-		-		1.6	5.2%	3.4	7.0%	-		-		-		-
Total	12.5	33.6%	16.3	35.0%	12.8	36.4%	8.3	27.1%	2.6	16.5%	10.9	35.9%	16.6	34.1%	10.7	20.1%	18.9	33.4%	34.7	38.7%	40.4	40.1%
Selling, general and admin expenses:
SG&A expenses	9.5	25.6%	9.4	20.2%	9.2	26.1%	9.3	30.4%	7.2	46.2%	12.7	41.6%	12.4	25.5%	14.1	26.5%	12.9	22.8%	14.1	15.8%	14.6	14.5%
Amortization of intangibles	0.1	0.3%	0.1	0.2%	0.1	0.3%	0.2	0.7%	0.1	0.6%	0.1	0.3%	0.1	0.2%	0.1	0.2%	0.1	0.2%	0.1	0.1%	0.1	0.1%
Restructuring charges	-		-		0.4	1.1%	3.4	11.1%	1.4	9.0%	0.6	2.0%	0.9	1.8%	4.4	8.3%	1.2	2.1%	0.4	0.4%	-	-
Acquisition gain Impairment charges	- -		- -		- -		- 20.2	66.0%	- -		-	(41.2) -135.1%	- -		- -		- -		- -		- -
Total	9.6	25.9%	9.5	20.4%	9.7	27.6%		33.1 108.2%	8.7	55.8%	(27.8)	-91.1%	13.4	27.5%	18.6	35.0%	14.2	25.1%	14.6	16.3%	14.7	14.6%
Research and development expenses:
R&D expenses Capitalization of R&D charges	5.1 (0.7)	13.7% -1.9%	4.7 (0.7)	10.1% -1.5%	3.9 (0.7)	11.1% -2.0%	4.5 (1.4)	14.7% -4.6%	4.0 (1.3)	25.6% -8.3%	8.1 (1.8)	26.6% -5.9%	6.3 (1.7)	12.9% -3.5%	6.7 (2.1)	12.6% -3.9%	6.6 (1.9)	11.7% -3.4%	6.5 (1.2)	7.3% -1.3%	6.4 (1.3)	6.4% -1.3%
Amortization of intangibles	0.3	0.8%	0.3	0.6%	0.4	1.1%	0.3	1.0%	0.3	1.9%	0.3	1.0%	0.3	0.6%	0.5	0.9%	0.2	0.4%	0.8	0.9%	1.1	1.1%
Restructuring charges	-		-		-		0.1	0.3%	0.2	1.3%	-		-		-		0.7	1.2%	-		-
Total	4.7	12.7%	4.3	9.2%	3.6	10.2%	3.5	11.4%	3.2	20.5%	6.6	21.6%	4.9	10.1%	5.1	9.6%	5.6	9.9%	6.1	6.8%	6.2	6.2%
Financial expense (income), net:
Interest expense (income), net	0.5		0.5		(0.9)		0.5		0.6		0.5		0.7		0.5		(0.2)		0.6		0.6
Foreign exchange (gains) \ losses	0.7		(0.5)		-		0.1		0.1		0.7		0.4		(0.1)		0.7		0.3		0.5
Non recurring charge related to statutory tax	-		(0.4)		-		-		-		-		-		-		-		-		-
Total	1.2		(0.4)		(0.9)		0.6		0.7		1.2		1.1		0.4		0.5		0.9		1.1
Operating income (loss)
as % of net sales	(1.8)	-4.9%	2.5	5.4%	(0.5)	-1.5%	(28.4)	-92.8%	(9.3)	-59.6%	32.2	105.6%	(1.6)	-3.3%	(13.0)	-24.4%	(1.0)	-1.8%	13.9	15.5%	19.5	19.4%
EBITDA
as % of net sales	0.0	0.0%	4.3	9.2%	1.2	3.5%	(5.9)	-19.3%	(7.3)	-47.0%	34.4	112.8%	1.1	2.3%	(10.1)	-19.0%	1.0	1.8%	16.2	18.1%	22.2	22.1%
Net income (loss)
as % of net sales	(2.1)	-5.7%	2.2	4.8%	0.4	1.0%		(34.0) -111.1%	(9.4)	-60.3%	31.5	103.3%	(3.2)	-6.6%	(13.5)	-25.4%	(2.6)	-4.6%	15.4	17.2%	15.0	14.9%
Income per share
Basic Diluted	(0.07) (0.07)		0.07 0.07		0.01 0.01		(1.10) (1.10)		(0.30) (0.30)		0.94 0.78		(0.11) (0.11)		(0.40) (0.40)		(0.08) (0.08)		0.45 0.40		0.44 0.39