EANS-Adhoc: austriamicrosystems AG austriamicrosystems reports third quarter
results
--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------
9-month report
24.10.2011
Key financial data for the third quarter 2011
Unterpremstaetten, Austria (October 24, 2011) austriamicrosystems (SIX: AMS),
a leading worldwide designer and manufacturer of high performance analog ICs for
consumer & communications, industry & medical and automotive applications,
reports revenue and earnings growth for the third quarter of 2011 demonstrating
the success of its broad-based portfolio and the strength of the combination of
austriamicrosystems and TAOS. Increasing its 2011 guidance, austriamicrosystems
now expects full year revenues of EUR 270-275m (USD 365-371m).
Third quarter group revenues reflect the first-time consolidation of TAOS at EUR
81.7 million, up 47% compared to the same quarter 2010 (55% in constant currency
terms) and 41% quarter-on-quarter. Gross margin was 50% despite a recurring
depreciation charge of around EUR 2 million per quarter from the TAOS purchase
and a one-time ramp-up effect for a recently launched global smartphone,
compared to 49% in the third quarter 2010 and 51% in the previous quarter.
The result from operations (EBIT) for the third quarter grew to EUR 13.0
million, up 41% from EUR 9.2 million in the same period 2010, in spite of an
unfavorable EUR/USD exchange rate development in the quarter. The third quarter
net result was EUR 9.5 million (EUR 8.0 million in the same period 2010) and
basic / diluted earnings per share were CHF 0.87 / 0.86 or EUR 0.74 / 0.73 (CHF
1.04 / 1.02 and EUR 0.78 / 0.77 in the third quarter 2010).
Total backlog (excluding consignment stock agreements) was EUR 89.1 million on
September 30, 2011 (EUR 61.9 million on June 30, 2011 and EUR 75.6 million on
September 30, 2010). Operating cash flow increased to EUR 20.9 million (EUR 17.9
million in the third quarter 2010).
austriamicrosystems´ business showed a robust performance in the third quarter
driven by the company´s broad market reach and the expansion of its product
portfolio with TAOS´ market-leading optical sensors. The integration of TAOS´
business with austriamicrosystems´ existing activities is fully on track and
progressing towards a seamless worldwide organization focused on power
management, wireless, sensors and sensor interfaces. Overall,
austriamicrosystems sees excellent opportunities for the combined business.
In Consumer & Communications austriamicrosystems is experiencing strong growth
in smartphone and tablet PC applications. This trend is underpinned by the
success and high volumes of leading customers´ smartphone platforms including
new models and a global smartphone recently launched by a key customer. With
ongoing high run rates, MEMS microphone ICs continued their dynamic growth
validating the company´s clear market leader position while Active Noise
Cancellation is gaining market presence. austriamicrosystems´ Industry & Medical
business recorded another robust quarter and remains the strong foundation of
the company. Design activity and wins for industrial solutions continued at a
very attractive pace creating additional future-year revenue streams from
increased applications. austriamicrosystems´ Automotive business continued to
show a good performance as the company delivers critical sensor interfaces and
sensors to major systems suppliers. In operations, austriamicrosystems is adding
subcontractor sourcing sites to fortify its optical sensor supply chain driven
by recent events in Thailand.
Based on the successful combination with TAOS, austriamicrosystems increases its
2011 revenue guidance to EUR 270-275m (USD 365-371m). Based on currently
available information, despite more cautious order trends in certain markets and
supply chain related efforts, austriamicrosystems sees its business continuing
to develop positively in the current quarter and expect revenues for the fourth
quarter on a similar level as the third quarter. For 2012, austriamicrosystems
expects double-digit growth in revenues and earnings compared to 2011.
The complete third quarter report 2011 including detailed financial information
is available on austriamicrosystems´ website under
http://www.austriamicrosystems.com/eng/Investor/Financial-Reports
Further inquiry note:
Moritz M. Gmeiner
Director Investor Relations
Tel: +43 3136 500-5970
Fax: +43 3136 500-5420
Email: investor@austriamicrosystems.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: austriamicrosystems AG
Schloß Premstaetten
A-8141 Unterpremstaetten
phone: +43 3136 500-0
FAX: +43 3136 500-5420
mail: investor@austriamicrosystems.com
WWW: www.austriamicrosystems.com
sector: Technology
ISIN: AT0000920863
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English