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austriamicrosystems AG

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.
quarterly report
26.10.2009
Key financial data for the third quarter of 2009
Unterpremstaetten, Austria (October 26, 2009) — austriamicrosystems 
(SIX: AMS), a leading global designer and manufacturer of high 
performance analog ICs for communications, industrial, medical and 
automotive applications, reports a solid sequential revenue and 
earnings improvement in the third quarter of 2009. Business 
conditions improved in the quarter and are expected to remain 
positive for the fourth quarter compared to the first half of 2009.
Third quarter 2009 group revenues were EUR 39.5 million, a sequential
quarter-on-quarter increase of 40% and a decrease from EUR 54.0 
million in the same quarter 2008. Gross margin was 37%, up 15 
percentage points sequentially but down from 51% in the same period 
2008. The result from operations (EBIT) for the third quarter 
improved sequentially to EUR -0.2 million (EUR 10.0 million in the 
third quarter 2008) even taking into account an unfavorable EUR/USD 
exchange rate development in the quarter. The third quarter net 
result was EUR -0.6 million (EUR 9.4 million in the same period 
2008). Basic and diluted earnings per share for the third quarter 
were CHF -0.08 / EUR -0.05 (CHF 1.38 / EUR 0.86 in the same period 
2008).
Total backlog (excluding consignment stock agreements) on September 
30, 2009 was EUR 35.8 million, compared to EUR 45.0 million on 
September 30, 2008 and EUR 35.1 million on June 30, 2009. Cash and 
short-term investments totaled EUR 43.6 million on September 30, 
2009, up from EUR 37.5 million on June 30, 2009. austriamicrosystems 
has further untapped credit lines available. Operating cash flow in 
the third quarter turned positive to EUR 6.2 million (EUR 17.9 
million in the third quarter 2008).
austriamicrosystems´ business showed a strongly improved performance 
in the third quarter, particularly in communications where the 
company saw increasing run rates and healthier order patterns for 
power and lighting management and MEMS microphones. In addition, LCD 
TV backlighting shipments continued to increase in the quarter. The 
industrial market, however, remains challenging with limited shipment
volumes and subdued demand across most areas, a situation which 
austriamicrosystems expects to continue into 2010. 
austriamicrosystems´ automotive business showed signs of improvement 
in the third quarter despite short-term ordering and continuing low 
visibility. These developments enabled better utilization rates in 
our production which had a positive effect on gross margins and EBIT.
At the same time, design activities with customers and design-wins 
remained robust across our focus areas.
austriamicrosystems completed a strategic minority investment of USD 
3.5 million (EUR 2.5 million) for a 30% shareholding in US-based 
privately held FlipChip International, a leading provider of IP and 
production services for wafer level packaging (WL-CSP), in the third 
quarter. This investment ensures optimal access to current and next 
generation high-end packaging technology and assembly capacity for 
important high volume product lines including advanced handset power 
management.
austriamicrosystems expects the improved business conditions to 
continue in the fourth quarter, yet visibility remains limited with 
choppy and shortened order patterns. Therefore austriamicrosystems 
anticipates its business to show a sequentially positive revenue 
development in the fourth quarter compared to the third quarter and a
positive cash flow. Based on current information and with the impact 
from the difficult market conditions in 2009, austriamicrosystems 
expects full year 2009 revenues to exceed EUR 133 million.
The complete third quarter report 2009 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

Branche: Technology
ISIN: AT0000920863
WKN: 632638
Börsen: SIX Swiss Exchange / official dealing

Plus de actualités: austriamicrosystems AG
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