austriamicrosystems AG

EANS-Adhoc: austriamicrosystems AG
austriamicrosystems reports first quarter results

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3-month report

26.04.2010

Key financial data for the first quarter of 2010

Unterpremstaetten, Austria (April 26, 2010) — austriamicrosystems (SIX: AMS), a leading global designer and manufacturer of high performance analog ICs for consumer, communications, industrial, medical and automotive applications, reports strong revenue growth for the first quarter 2010 compared to last year´s first quarter and a further solid quarter-on-quarter earnings improvement. The results reflect the ongoing recovery in the worldwide analog semiconductor market and new product ramp-ups driven by broad-based customer demand across application segments.

First quarter 2010 group revenues were EUR 44.0 million, increasing 73% from EUR 25.4 million reported in the same quarter 2009. In contrast to previous years´ quarter-on-quarter seasonality, first quarter revenues were slightly up on the previous quarter. In constant currency, current revenues were 78% higher compared to the first quarter 2009. Gross margin improved sharply to 44% from 31% in the first quarter 2009 given the return to high levels of capacity utilization. The result from operations (EBIT) for the first quarter was a profit of EUR 3.1 million compared to a loss of EUR 8.5 million in the first quarter of 2009. This significant increase demonstrates the leverage effect of high utilization levels and strong revenue growth. The first quarter net result was a profit of EUR 2.0 million compared to a loss of EUR 8.0 million in the same period 2009.

Basic and diluted earnings per share were identical for the quarter at CHF 0.29 / EUR 0.20 (CHF -1.13 / EUR -0.75 in the first quarter 2009). Total backlog excluding consignment stock agreements grew sharply to EUR 65.5 million on March 31, 2010, compared to EUR 30.6 million on March 31, 2009 and EUR 45.6 million on December 31, 2009. Cash and short-term investments totaled EUR 40.8 million on March 31, 2010 compared to EUR 42.2 million on December 31, 2009. Operating cash flow in the first quarter was EUR 8.0 million (EUR 0.1 million in the first quarter 2009).

austriamicrosystems´ business performed strongly in the first quarter as customer demand continues to recover and expand at an accelerated pace in the majority of the company´s markets. In Consumer & Communications, austriamicrosystems saw high and growing run rates for its lighting and power management products for handsets and other devices and is shipping increasing volumes of MEMS microphone and LCD backlighting ICs, which include recently launched products. In the industrial market, demand for the company´s sensor and sensor interface products continued to improve significantly, with certain market segments already returning to pre-crisis shipment levels. The automotive market also showed further signs of returning to previous volume levels as shipment rates picked up considerably.

austriamicrosystems continued to register high design and development activity with its broad portfolio of products at customers in all regions and sales channels in the quarter. Despite evidence of tightening supply chains in the analog semiconductor market austriamicrosystems is in a solid position to fulfill ongoing and expected customer demand benefitting from its in-house manufacturing capabilities and production partnerships.

Looking forward, demand visibility has continued to improve significantly as order patterns show ongoing strength in the majority of austriamicrosystems´ target markets. Based on available information, austriamicrosystems expects the current strong business environment to persist throughout 2010. Consequently, the company now anticipates full year revenue growth for 2010 at around 35% with operating profitability growing strongly from 2009 levels.

The complete first quarter report 2010 including detailed financial information is available on austriamicrosystems´ website under http://www.austriamicrosystems.com/eng/Investor/Financial-Reports

About austriamicrosystems austriamicrosystems is a leading designer and manufacturer of high performance analog ICs, combining more than 25 years of analog design capabilities and system know-how with its own state-of-the-art manufacturing and test facilities. austriamicrosystems leverages its expertise in low power and high accuracy to provide industry-leading standard and customized analog products. Operating worldwide with more than 1,000 employees, austriamicrosystems focuses on the areas of power management, sensors & sensor interfaces, and mobile infotainment in its markets Consumer & Communications, Industry & Medical and Automotive, complemented by its Full Service Foundry activities. austriamicrosystems is listed on the SIX Swiss Exchange in Zurich (ticker symbol: AMS). For more information, please visit the web site at www.austriamicrosystems.com.

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ots Originaltext: austriamicrosystems AG
Im Internet recherchierbar: http://www.presseportal.ch

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



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