UMS Holdings

[Boon]

http://www.semi.org/en/en/july-2016-book-bill-ratio

North American Semiconductor Equipment Industry Posts July 2016 Book-to-Bill Ratio of 1.05

SAN JOSE, Calif. — August 23, 2016 — North America-based manufacturers of semiconductor equipment posted $1.79 billion in orders worldwide in July 2016 (three-month average basis) and a book-to-bill ratio of 1.05, according to the July Equipment Market Data Subscription (EMDS) Book-to-Bill Report published today by SEMI.  A book-to-bill of 1.05 means that $105 worth of orders were received for every $100 of product billed for the month.

SEMI reports that the three-month average of worldwide bookings in July 2016 was $1.79 billion. The bookings figure is 4.7 percent higher than the final June 2016 level of $1.71 billion, and is 13.1 percent higher than the July 2015 order level of $1.59 billion.

The three-month average of worldwide billings in July 2016 was $1.71 billion. The billings figure is 0.6 percent lower than the final June 2016 level of $1.72 billion, and is 9.6 percent higher than the July 2015 billings level of $1.56 billion.

"Monthly bookings have exceeded $1.7 billion for the past three months with monthly billings trending in a similar manner,” said Denny McGuirk, president and CEO of SEMI. "Recent earnings announcements have indicated that strong purchasing activity by China and 3D NAND producers will continue in the near-term.".......................................
______________________________________________________________________________________________________________________________

[Boon]

Fab Equipment Spending Ascending
Expect 4% growth (YoY) for 2016 and 11% for 2017 
By Christian G. Dieseldorff, Industry Research & Statistics Group at SEMI (September 6, 2016)

SEMI’s Industry Research and Statistics group has published its August update of the World Fab Forecast report. The report has served the industry for 24 years, observing and analyzing spending, capacity, and technology changes for all front-end facilities worldwide, from high-volume to R&D fabs.  SEMI’s latest data show increasing equipment spending, reaching 4.1 percent YOY in 2016 and 10.6 percent in 2017. Figure 1 (below) shows a forecast of  -2 percent decline from 2H2015 to 1H2016 and an 18 percent increase from 1H2016 to 2H2016................


http://www.semi.org/en/fab-equipment-spending-ascending


[Image: FabArticle-image1.jpg]

[Boon]

Global Semiconductor Sales Rebound in July
MONTH-TO-MONTH INCREASE OF 3 PERCENT IS GLOBAL MARKET'S LARGEST IN NEARLY 3 YEARS; SALES REMAIN BEHIND LAST YEAR'S PACE
Published Tuesday, September 6, 2016 4:30 pm
by Dan Rosso
WASHINGTON—Sept. 6, 2016—The Semiconductor Industry Association (SIA), representing U.S. leadership in semiconductor manufacturing, design, and research, today announced worldwide sales of semiconductors reached $27.1 billion for the month of July 2016, an increase of 2.6 percent compared to the previous month’s total of $26.4 billion. July marked the global market’s largest month-to-month sales increase since September 2013, though sales were down 2.8 percent compared to the July 2015 total of $27.9 billion. Underscoring the welcome uptick, month-to-month sales increased in all regional markets for the first time since October 2015. All monthly sales numbers are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average.

“The modest increase in global semiconductor sales in July was the global market’s largest month-to-month growth in nearly three years, an encouraging sign of potentially stronger sales during the remainder of 2016 and beyond,” said John Neuffer, president and CEO, Semiconductor Industry Association. “After months of lagging sales, the Americas region was a bright spot in July, posting 3.3 percent growth to lead all regional markets. Meanwhile, most major semiconductor product categories saw increased sales in July compared to the previous month, with DRAM leading the way with 7.1 percent growth.”...........................

http://www.semiconductors.org/news/2016/...d_in_july/
__________________________________________________________________________________________________________________

TSMC reports record August revenues
Jessie Shen, DIGITIMES, Taipei [Friday 9 September 2016]
http://www.digitimes.com/news/a20160909VL201.html
___________________________________________________________________________________________________________________

Updated Semiconductor Outlook for Internet of Things
Lower sales projections for connected cities leads to reduced semiconductor IoT market forecast. 
07 Sept 2016, by IC Insights

http://www.icinsights.com/data/articles/...ts/917.pdf
_________________________________________________________________________________________________________________

TSMC set to move 7nm to volume production in 1Q18
Josephine Lien, Taipei; Jessie Shen, DIGITIMES [Wednesday 7 September 2016]
http://www.digitimes.com/news/a20160906PD210.html
____________________________________________________________________________________________________________________________________

[Boon]

North American Semiconductor Equipment Industry Posts August 2016 Book-to-Bill Ratio of 1.03

SAN JOSE, Calif. — September 15, 2016 — North America-based manufacturers of semiconductor equipment posted $1.75 billion in orders worldwide in August 2016 (three-month average basis) and a book-to-bill ratio of 1.03, according to the August Equipment Market Data Subscription (EMDS) Book-to-Bill Report published today by SEMI.  A book-to-bill of 1.03 means that $103 worth of orders were received for every $100 of product billed for the month.

SEMI reports that the three-month average of worldwide bookings in August 2016 was $1.75 billion. The bookings figure is 2.3 percent lower than the final July 2016 level of $1.80 billion, and is 5.0 percent higher than the August 2015 order level of $1.67 billion.

The three-month average of worldwide billings in August 2016 was $1.71 billion. The billings figure is approximately the same as the final July 2016 level of $1.71 billion, and is 8.4 percent higher than the August 2015 billings level of $1.58 billion.

"The book-to-bill ratio has been at or above parity since December of last year with current monthly bookings and billings levels at $1.7 billion,” said Denny McGuirk, president and CEO of SEMI.  “Given the current data trends, North American equipment suppliers are clearly benefiting from strong investments by device manufacturers in the second half of the year.”...................................

http://www.semi.org/en/north-american-se...-ratio-103
_____________________________________________________________________________________________________________________________________

[Boon]

Global Semiconductor Industry Posts Largest Monthly Sales Increase in 3 Years

AUGUST SALES UP 3.5 PERCENT COMPARED TO JULY, INCREASE YEAR-TO-YEAR FOR FIRST TIME IN MORE THAN A YEAR 
Published Monday, October 3, 2016 4:30 pm
by Dan Rosso

WASHINGTON—Oct. 3, 2016—The Semiconductor Industry Association (SIA), representing U.S. leadership in semiconductor manufacturing, design, and research, today announced worldwide sales of semiconductors reached $28.0 billion for the month of August 2016, an increase of 3.5 percent compared to the previous month’s total of $27.1 billion and an uptick of 0.5 percent over the August 2015 total of $27.9 billion. August marked the market’s largest month-to-month growth since May 2013 and its first year-to-year growth since June 2015. All monthly sales numbers are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average.

“Following months of sluggish global semiconductor sales, the global market recently has shown signs of a rebound, punctuated by solid growth in August,” said John Neuffer, president and CEO, Semiconductor Industry Association. “The Americas market was particularly encouraging, topping 6 percent month-to-month growth for the first time in nearly three years to lead all regional markets. China also stood out, posting by far the strongest year-to-year growth of all regions in August. All told, global sales are still behind last year’s pace, but appear to be on the right track as 2017 draws closer.”

Month-to-month sales increased across all regions: the Americas (6.3 percent), Japan (4.8 percent), China (3.1 percent), Asia Pacific/All Other (2.7 percent), and Europe (0.7 percent). Year-to-year sales increased in China (7.1 percent) and Japan (2.2 percent), but fell in Asia Pacific/All Other (-2.7 percent), the Americas (-3.1 percent), and Europe (-3.3 percent).

To find out how to purchase the WSTS Subscription Package, which includes comprehensive monthly semiconductor sales data and detailed WSTS Forecasts, please visit http://www.semiconductors.org/industry_statistics/wsts_subscription_package/. For detailed data on the global and U.S. semiconductor industry and market, please consider purchasing the 2016 SIA Databook here: https://www.semiconductors.org/forms/sia_databook/.    
August 2016 chart and graph

http://www.semiconductors.org/news/2016/...n_3_years/
____________________________________________________________________________________________________________________________________

[Boon]

North American Semiconductor Equipment Industry Posts September 2016 Book-to-Bill Ratio of 1.05

SAN JOSE, Calif. — October 20, 2016 — North America-based manufacturers of semiconductor equipment posted $1.60 billion in orders worldwide in September 2016 (three-month average basis) and a book-to-bill ratio of 1.05, according to the September Equipment Market Data Subscription (EMDS) Book-to-Bill Report published today by SEMI.  A book-to-bill of 1.05 means that $105 worth of orders were received for every $100 of product billed for the month.

SEMI reports that the three-month average of worldwide bookings in September 2016 was $1.60 billion. The bookings figure is 8.5 percent lower than the final August 2016 level of $1.75 billion, and is 3.2 percent higher than the September 2015 order level of $1.55 billion.

The three-month average of worldwide billings in September 2016 was $1.53 billion. The billings figure is 10.2 percent lower than the final August 2016 level of $1.71 billion, and is 2.6 percent higher than the September 2015 billings level of $1.50 billion.

"Semiconductor equipment bookings continue to outpace equipment billings,” said Denny McGuirk, president and CEO of SEMI.  “Year-to-date bookings and billings data are on trend to surpass last year's levels.”......................................................

http://www.semi.org/en/september-2016-book-bill-ratio
_______________________________________________________________________________________________________________________________________________________________

[Boon]

3Q2016/9M2016 Results:
 
Revenue (SGD million):
1Q2014 = 34.309
2Q2014 = 28.689   
3Q2014 = 24.771  
4Q2014 = 22.050   
1Q2015 = 27.467
2Q2015 = 31.043   
3Q2015 = 30.696  
4Q2015 = 21.884
1Q2016 = 20.362
2Q2016 = 23.607
3Q2016 = 26.082
 
NPAT (SGD million):
1Q2014 = 8.558
2Q2014 = 7.229    
3Q2014 = 6,465   
4Q2014 = 3.677    
1Q2015 = 7.541
2Q2015 = 8.266    
3Q2015 = 8.531  
4Q2015 = 9.961
1Q2016 = 3.380
2Q2016 = 6.469 
3Q2016 = 6.785
 
EPS ( SGD Cent ):
1Q2014 = 2.00 (adjusted for bonus issue)
2Q2014 = 1.68    
3Q2014 = 1.27   
4Q2014 = 0.86    
1Q2015 = 1.76
2Q2015 = 1.93    
3Q2015 = 1.99  
4Q2015 = 2.32
1Q2016 = 0.79
2Q2016 = 1.51 
3Q2016 = 1.58
 
Gross Profit Margin (GPM):
1Q2014 = 53%
2Q2014 = 57%
3Q2014 = 54%
4Q2014 = 54%
1Q2015 = 57%
2Q2015 = 57%
3Q2015 = 55%
4Q2015 = 76%
1Q2016 = 60%
2Q2016 = 58%
3Q2016 = 57%
 
Net Profit Margin (NPM):
1Q2014 = 24.9%
2Q2014 = 25.2%
3Q2014 = 22.1%
4Q2014 = 16.7%
1Q2015 = 27.5%
2Q2015 = 26.6%
3Q2015 = 27.8%
4Q2015 = 45.5%
1Q2016 = 16.6%
2Q2016 = 27.4%
3Q2016 = 26.01%
 
FCF Generated (SGD million):
1Q2014 = 10.3
2Q2014 =  3.9    
3Q2014 =  5.7   
4Q2014 =  9.0   
1Q2015 =  6.4
2Q2015 = 12.6    
3Q2015 =  3.5  
4Q2015 =  8.8
1Q2016 =  5.0
2Q2016 =  5.2   
3Q2016 =  9.0
 
Cash & Cash Equivalent (SGD million)
1Q2014 = 39.511
2Q2014 = 36.113 (debt = 5.000) ; Net Cash = 31.113
3Q2014 = 32.947
4Q2014 = 33.792
1Q2015 = 40.801
2Q2015 = 39.607 (no bank borrowing)
3Q2015 = 38.255 (no bank borrowing)
4Q2015 = 38.933 (no bank borrowing)
1Q2016 = 42.780 (no bank borrowing)
2Q2016 = 35.399 (debt = 1.249)
3Q2016 = 39.217 (debt = 0.249)
 
DPS ( SGD Cent ):
1Q2014 = 1.00
2Q2014 = 1.00   
3Q2014 = 1.00   
4Q2014 = 3.00    (FY2014 = 6.00)
1Q2015 = 1.00
2Q2015 = 1.00    
3Q2015 = 1.00
4Q2015 = 3.00    (FY2014 = 6.00)
1Q2016 = 1.00
2Q2016 = 1.00
3Q2016 = 1.00
 
Comments:
1) Overall, a better set of 3Q2016 results compared to 2Q2016.
2) FCF generated in 3Q2016 amounting to SGD 9.0 m is enough to cover 3Q2016 DPS of 1 cent. 9M2016 FCF generated of =19.2 m (~ 4.5 cents per share). Overall, cash level still looks pretty high at 39.217 m (with 0.249 m of borrowing)
3) For FY2016: DPS=5.00 cents is not a problem. Given the cash level, I reckon DPS = 6.00 cents is highly likely as long as 4Q2016 remains profitable.
________________________________________________________________________________________ 

[memphisb]

http://sbr.com.sg/manufacturing/more-new...fit-49-68m

But full-year profit could plunge 40%.

UMS holds steady in 3Q, as earnings grow 4.9% q-o-q to S$6.8m

Both UMS' core components manufacturing and assembly businesses saw better traction during the quarter, which led to a 10.5% q-o-q growth in group revenue to S$26.1m in 3Q.

Meanwhile, net margins came off slightly, from 27.4% in 2Q to 26% in 3Q, mainly as growth from the lower-margin assembly business outpaced that of contract manufacturing, and on higher bonus provisions during the quarter, similar to that in previous years.

Helped by an exchange gain of S$0.7m, 3Q net profit grew 4.9% q-o-q to S$6.8m.

DBS Vickers Securities however cautioned that in light of the current industry down-cycle, demand for semiconductor manufacturing equipment will likely be flat.

It adds that as orders from UMS’ key client have yet to pick up, the research house expects revenues to decline by 18% to c. S$91m in FY16F, and earnings to fall by almost 40% y-o-y to hit a trough of c. S$20.7m in FY16F, partly as margins should normalise from FY15 levels, helped by a stronger USD and low oil prices.
- See more at: http://sbr.com.sg/manufacturing/more-new...gDEod.dpuf

[BlueKelah]

DBS Vickers Securities however cautioned that in light of the current industry down-cycle, demand for semiconductor manufacturing equipment will likely be flat.

It adds that as orders from UMS’ key client have yet to pick up, the research house expects revenues to decline by 18% to c. S$91m in FY16F, and earnings to fall by almost 40% y-o-y to hit a trough of c. S$20.7m in FY16F, partly as margins should normalise from FY15 levels, helped by a stronger USD and low oil prices.  
- See more at: http://sbr.com.sg/manufacturing/more-new...gDEod.dpuf

DRAM prices are through the roof the past half year! 
how is it possible industry is in downcycle? 
Semicon stocks have also been one of the best performers this year... Though AMAT last couple months been trading sideways around peak of $30.

But perhaps the DBS people have better insider info. If what they report is true about UMS key client order not picking up, this means UMS is producing parts for machines that are getting outdated progressively. IIRC UMS has not benefit much from boom in 3DNAND market.

-n v-

[Boon]

North American Semiconductor Equipment Industry Posts October 2016 Book-to-Bill Ratio of 0.91

SAN JOSE, Calif. — November 22, 2016 — North America-based manufacturers of semiconductor equipment posted $1.49 billion in orders worldwide in October 2016 (three-month average basis) and a book-to-bill ratio of 0.91, according to the September Equipment Market Data Subscription (EMDS) Book-to-Bill Report published today by SEMI.  A book-to-bill of 0.91 means that $91 worth of orders were received for every $100 of product billed for the month.

SEMI reports that the three-month average of worldwide bookings in October 2016 was $1.49 billion. The bookings figure is 5.1 percent lower than the final September 2016 level of $1.57 billion, and is 12.2 percent higher than the October 2015 order level of $1.33 billion.

The three-month average of worldwide billings in October 2016 was $1.63 billion. The billings figure is 9.0 percent higher than the final September 2016 level of $1.49 billion, and is 19.8 percent higher than the October 2015 billings level of $1.36 billion.

"Total equipment billings increased 9 percent in October over September, while bookings contracted 5 percent,” said Denny McGuirk, president and CEO of SEMI.  “As the result, the book-to bill ratio for October dropped below parity for the first time in 11 months, even though bookings and billings activity remains at elevated levels relative to last year.”.........................

http://www.semi.org/en/north-american-se...-ratio-091
____________________________________________________________________________________________________________________________________