Richard Blickman, President and CEO of BE Semiconductor Industries (BESI), discussed the Dutch company’s performance at the 34th Annual Canaccord Genuity Global Growth conference on Wednesday, and he is optimistic about the future of the company.
“The industry is expected to grow 12% this year, while we are projecting 15% growth, which shows we are definitely running the company on all cylinders,” Blickman said.
In the last 12 months, BE Semiconductor reported revenue and net income of € 304.7 and € 35.7 million respectively, Blickman said. The company has paid € 57 million of dividends and share repurchases since 2011, he added.
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Blickman said that while revenue is down slightly due to cyclical industry trends, the company has managed to post gross margin profitability of 40% for the past three years, despite market declines in that same time frame. As a result, the company has seen a consistent increase in base dividends of 10% since 2011 and projects with lower per unit costs revenues will continue to increase as well, he noted.
Blickman explained that since 2008, the company has implemented an aggressive restructuring plan, moving operations from Europe to Asia, and reducing the European workforce. As a result, the company has been able to lower its per-unit cost, while at the same time expanding its market share, he said. Between 2012 and 2013, BE Semiconductor saw an increase in market share from 75.8% to 83.8%, and is on track to outgrow the market this year, he added.
Blickman noted that the company will continue to expand the Asian supply chain and expects additional gross margin gains of 5% in 2014.
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