euro adhoc: austriamicrosystems AG
quarterly or semiannual financial statement
/ austriamicrosystems reports 4% revenue growth in first quarter despite
negative exchange rate development, further USD weakness remains key risk factor
for 2008
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
quaterly report
28.04.2008
Key financial data for the first quarter of 2008
Unterpremstaetten, Austria (April 28, 2008) austriamicrosystems (SWX: AMS), a leading global designer and manufacturer of high performance analog ICs for communications, industrial, medical and automotive applications, showed revenue growth in the first quarter of 2008 compared to the previous year despite a significant deterioration in the EUR/USD exchange rate compared to last year´s first quarter, given broad-based demand for its analog semiconductor solutions.
Consolidated group revenues grew by 4% to EUR 41.1 million from EUR 39.4 million in the same quarter 2007. On a constant currency basis, current revenues showed a growth of 10% compared to the first quarter last year. Gross margin was strong at 51%, meaningfully up from 49% in the same period last year. Despite a significant negative impact from the worsening of the EUR/USD exchange rate, the result from operations (EBIT) for the first quarter was unchanged at EUR 3.7 million compared to the first quarter 2007.
The first quarter net result reached EUR 3.2 million compared to EUR 3.5 million in the same period last year. Basic and diluted earnings per share for the first quarter were identical at CHF 0.47 / EUR 0.30 (CHF 0.53 / EUR 0.32 in the same period 2007). Total backlog which does not reflect high volume consignment stock agreements and is therefore not fully comparable to the previous year stood at EUR 48.2 million on March 31, 2008 (EUR 54.2 million on March 31, 2007).
austriamicrosystems´ first quarter results reflect its focus on advancing its business and market position through profitable growth with existing and newly introduced products and derivatives. Overall, austriamicrosystems experienced good demand for its analog semiconductor solutions in its target markets across all regions despite uncertainty in the macroeconomic and capital markets environment.
In the industrial market, business was robust despite some weakness in the North American metering market. All other areas of the industrial market including industrial sensors, rotary encoders and sensor interfaces for medical and seismic applications continue to be strong building blocks for austriamicrosystems´ business with attractive growth prospects for the future.
In communications, austriamicrosystems saw good volumes and high run rates for lighting management products at top tier handset manufacturers. austriamicrosystems recorded high shipment levels for the first power management products at Nokia where the company sees further strong potential from growing volumes and additional design-wins. In mobile entertainment, austriamicrosystems´ newly introduced IC solutions are gaining traction among major market participants. austriamicrosystems´ automotive business performed well, mainly driven by sensor interfaces and car access products.
austriamicrosystems anticipates continued positive development for its business over the course of this year. austriamicrosystems retains its previous expectation of growth in revenue and earnings for 2008 based on its strong product and customer line-up. However, the recent further deterioration of the USD and the future development of the EUR/USD conversion rate are key risk factors influencing austriamicrosystems´ revenue and earnings development for this year.
The complete first quarter report 2008 including detailed financial information is available on austriamicrosystems´ website under http://www.austriamicrosystems.com/08ir/report.htm
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 customized and standard analog products. Operating worldwide with more than 1,000 employees, austriamicrosystems focuses on the areas of power management, sensors & sensor interfaces, portable audio and car access in its markets Communications, Industry & Medical and Automotive, complemented by its Full Service Foundry activities. austriamicrosystems is listed on the SWX Swiss Exchange in Zurich (ticker symbol: AMS). For more information, please visit the web site at www.austriamicrosystems.com.
end of announcement euro adhoc
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: SWX Swiss Exchange / official dealing