EANS-Adhoc: ams AG ams reports third quarter results and agreement to acquire
private RFID design center
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9-month report
22.10.2012
Key financial data for the third quarter 2012
Unterpremstaetten, Austria (22 October, 2012) - ams (SIX: AMS), a leading
worldwide designer and manufacturer of high performance analog ICs for consumer
& communications, industry & medical, and automotive applications, showed
continued revenue growth and a significant increase in profitability in the
third quarter of 2012, as the company expands its market position in high
performance applications for customers worldwide. Confirming its guidance for
2012, ams expects full year revenue growth of 40% year-on-year with full year
EBIT margins of more than 20%.
Third quarter group revenues grew to EUR 103.3 million, up 27% compared to the
same quarter 2011 (16% in constant currency terms) and 8% quarter-on-quarter.
Gross margin was 56%, excluding acquisition-related amortization, and 53%,
including acquisition-related amortization, compared to 53%, excluding
acquisition-related amortization, and 50%, including acquisition-related
amortization, in the third quarter 2011.
The result from operations (EBIT) for the third quarter increased to EUR 25.5
million, up 96% from EUR 13.0 million in the same period 2011. The third quarter
net result was EUR 24.5 million compared to EUR 9.5 million in the same period
2011 and basic / diluted earnings per share were CHF 2.30 / 2.17 or EUR 1.91 /
1.81 (CHF 0.87 / 0.86 and EUR 0.74 / 0.73 in the third quarter 2011). Total
backlog, excluding consignment stock agreements, was EUR 90.6 million on
September 30, 2012 (EUR 106.8 million on June 30, 2012 and EUR 89.1 million on
September 30, 2011). Operating cash flow increased to EUR 36.1 million compared
to EUR 20.9 million in the third quarter 2011.
ams' business saw a strong performance in the third quarter driven by its
differentiated portfolio of high performance analog products and growing OEM and
distribution demand in key markets.
In Consumer & Communications, strong growth in smartphone and tablet PC
applications continued as a result of customers' market success. ams' light
sensor products are shipping in very high volumes to market-leading OEMs for
major global platforms and models. The company's MEMS microphone IC business
also continued to expand in the quarter. OEM interest for ams' high performance
power management solution for a leading graphics processor vendor and new sensor
technologies for mobile devices remains at high levels creating new
opportunities in future designs. ams' wireless business for RFID and NFC shows
dynamic growth in emerging applications as the company is continuing volume
shipments of its innovative antenna booster solution for NFC mobile payment and
winning new designs.
To further enhance its successful NFC offering and technology leadership in this
exciting market, ams has entered into an agreement to acquire 100% of the shares
in IDS, a global design leader for highly-integrated low-power RFID IC solutions
and IP for HF and UHF applications. The IDS group, comprising IDS d.o.o.
(Slovenia) and IDS IP Holding AG with its 100% subsidiary IDS Microchip AG (both
in Switzerland), has approximately 20 employees. The parties to the transaction,
which is expected to close within the next twelve weeks subject to certain
approvals and conditions, have agreed to keep the consideration confidential.
ams has worked closely with IDS over the last several years and plans to fully
integrate IDS's activities into its existing wireless business following the
closing. The addition of IDS solidifies ams' strong R&D and IP position in the
authentication and payment markets where the company offers the smallest form
factors, the lowest power consumption and the highest sensitivity.
In its industrial and medical businesses, ams recorded positive results based on
its broad portfolio of advanced sensor and sensor interface solutions and wide
variety of end markets. The industrial sector remains influenced by inconsistent
demand patterns in some markets, while the company's innovative medical imaging
sensor solutions continue to drive its customers' market success. ams'
automotive business performed well driven by the company's growing presence in
critical sensor applications, despite a more challenging environment in the
global automotive sector.
Based on currently available information, ams fully confirms its 2012 revenue
guidance and expects full year revenue growth of 40% compared to 2011, with EBIT
margins exceeding 20% for the full year 2012. This positive development is
particularly driven by ams' expanding business in the fast-growing markets for
smartphones, tablet PCs, and other mobile devices. Design activities across
markets remain at record levels as a growing number of OEMs rely on ams' high
performance products to solve their analog challenges. Providing a first
indication for the coming year, ams expects further double-digit revenue growth
in 2013 compared to the current year.
The third quarter 2012 report including additional financial information is
available on the company website at
http://www.ams.com/eng/Investor/Financial-Reports
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About ams
ams develops and manufactures high-performance analog semiconductors that solve
its customers' most challenging problems with innovative solutions. ams'
products are aimed at applications which require extreme precision, accuracy,
dynamic range, sensitivity, and ultra-low power consumption. ams' product range
includes sensors, sensor interfaces, power management ICs and wireless ICs for
customers in the consumer, industrial, medical, mobile communications and
automotive markets.
With headquarters in Austria, ams employs over 1,200 people globally and serves
more than 6,500 customers worldwide. ams is the new name of austriamicrosystems,
following the 2011 acquisition of optical sensor company TAOS Inc. ams is listed
on the SIX Swiss stock exchange (ticker symbol: AMS). More information about ams
can be found at www.ams.com.
Further inquiry note:
Moritz M. Gmeiner
Director Investor Relations
Tel: +43 3136 500-31211
Fax: +43 3136 500-931211
Email: investor@ams.com
end of announcement euro adhoc
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issuer: ams AG
Tobelbader Strasse 30
A-8141 Unterpremstaetten
phone: +43 3136 500-0
FAX: +43 3136 500-931211
mail: investor@ams.com
WWW: www.ams.com
sector: Technology
ISIN: AT0000920863
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English