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, 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” contains such 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 any inability to maintain continued demand for our products; 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; the extent and duration of the COVID-19 pandemic and measures taken to contain the outbreak, and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, 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, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers as a result of the COVID-19 pandemic; those additional risk factors set forth in Besi's annual report for the year ended December 31, 2021 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 expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.
|
Consolidated Statements of Operations | |||||
| (€ thousands, except share and per share data)
|
Three Months Ended
December 31, (unaudited) |
Year Ended
December 31, (audited) | |||
| 2022 | 2021 | 2022 | 2021 | ||
| Revenue | 137,721 | 171,732 | 722,870 | 749,297 | |
| Cost of sales | 51,940 | 74,287 | 279,797 | 302,475 | |
| Gross profit | 85,781 | 97,445 | 443,073 | 446,822 | |
| Selling, general and administrative expenses | 22,582 | 20,387 | 95,012 | 92,859 | |
| Research and development expenses | 14,494 | 9,906 | 53,945 | 36,380 | |
| Total operating expenses | 37,076 | 30,293 | 148,957 | 129,239 | |
| Operating income | 48,705 | 67,152 | 294,116 | 317,583 | |
| Financial expense, net | 3,625 | 3,023 | 18,626 | 13,743 | |
| Income before taxes | 45,080 | 64,129 | 275,490 | 303,840 | |
| Income tax expense (benefit) | 4,927 | (2,980 | ) | 34,843 | 21,421 |
| Net income | 40,153 | 67,109 | 240,647 | 282,419 | |
| Net income per share – basic | 0.51 | 0.86 | 3.03 | 3.70 | |
| Net income per share – diluted | 0.50 | 0.80 | 2.90 | 3.39 | |
