EANS-Adhoc: ams AG ams reports third quarter results
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Financial Figures/Balance Sheet/9-month report
21.10.2013
Key financial data for the third quarter 2013
Unterpremstaetten, Austria (21 October 2013) - ams (SIX: AMS), a leading
provider of high performance analog ICs and sensors, recorded expected
quarter-on-quarter revenue growth in the third quarter 2013, while operating
profitability (EBIT margin) increased as expected. Despite currency headwinds
ams expects meaningful quarter-on-quarter revenue growth and further growth in
operating profitability in the fourth quarter 2013.
Third quarter group revenues were EUR 98.2 million, 5% lower than in the same
quarter 2012 (1% lower in constant currency terms), and 8% higher
quarter-on-quarter. Gross margin was 55%, excluding acquisition-related
amortization, and 53%, including acquisition-related amortization, compared to
56%, excluding acquisition-related amortization, and 53%, including
acquisition-related amortization, in the third quarter 2012.
The result from operations (EBIT) for the third quarter was EUR 20.0 million or
20% of revenues, compared to EUR 25.5 million in the same period 2012. The third
quarter net result was EUR 18.6 million compared to EUR 24.5 million in the same
period 2012 and basic / diluted earnings per share were CHF 1.71 / 1.66 or EUR
1.38 / 1.35 based on 13,444,033 / 13,836,323 shares (basic/diluted; weighted
average) compared to CHF 2.30 / 2.17 or EUR 1.91 / 1.81 based on 12,827,218 /
13.571,970 shares (basic/diluted; weighted average) in the third quarter 2012.
Total backlog, excluding consignment stock agreements, was EUR 91.2 million on
September 30, 2013 (EUR 82.4 million on June 30, 2013 and EUR 90.6 million on
September 30, 2012). Operating cash flow for the third quarter was EUR 34.0
million compared to EUR 36.1 million in the third quarter 2012.
ams' business showed a solid performance in the third quarter given positive
momentum in key end markets and our strong position in high performance sensor
and analog solutions.
In Consumer & Communications, ams continued high volume shipments of its broad
portfolio of intelligent light sensors to major smartphone and device OEMs. This
included expected ramp-up activities driven by new global platforms. The
company's MEMS microphone driver business for a wide range of consumer devices
continued to grow at attractive margins in the quarter.
ams' wireless business remained focused on significant development and design-in
activities for its NFC solutions, including antenna boost, while released
products recorded positive volume trends. ams enables seamless transactions
through high sensitivity performance in the smallest form factors available.
Given strong OEM engagements and commitments ams feels confident about its
position in the NFC market and profitable growth from high volume NFC
applications. At the same time, ams is developing the next generation of NFC
products to support future devices and technologies.
ams' industrial and medical business once more showed positive results in the
third quarter. Industrial end-market demand remained attractive, supporting the
momentum of the company's industrial business in the second half of the year.
ams high performance sensors and sensor interfaces are enabling a broad range of
industrial applications for leading OEMs worldwide. The company's sensor
solutions for digital imaging, which includes leading-edge computed tomography
(CT), mammography and ultrasound, continue to be key drivers for ams' medical
business.
In its automotive business, ams is seeing ongoing healthy demand for its sensor
and sensor interface solutions across major OEM platforms. Critical in-vehicle
systems incorporate ams' sensor expertise to provide higher levels of safety and
reliability for drivers worldwide. Based on a full pipeline of automotive
design-ins, for which ams has added further resources in the quarter, the
company's automotive business is expected to show attractive growth in the years
to come.
For the fourth quarter 2013, ams expect meaningful sequential and year-on-year
revenue growth with revenues of EUR 108-114 million despite currency headwinds.
Further product ramp-ups, particularly in Consumer & Communications, are
expected to drive this growth. ams sees profitability continuing to increase in
the fourth quarter and expects EBIT margin to expand further by more than 100
bps quarter-on-quarter.
Given the company's extensive product and design-in pipeline for smartphones,
mobile devices, industrial, medical, and automotive systems ams is confident
about the positive development of its business in the future. ams therefore
confirms its strong longer term outlook for meaningful growth in revenues and
further growth in profitability in the coming years.
The company's third quarter report 2013 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 1,300 people globally and serves
more than 7,800 customers worldwide. 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