ams AG

EANS-Adhoc: ams AG
ams reports first quarter results; announces its CEO will not extend contract beyond current term ending February 2014

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Financial Figures/Balance Sheet/3-month report

Key financial data for the first quarter 2013

Unterpremstaetten, Austria (22 April 2013) - ams (SIX: AMS), a leading provider
of high performance analog ICs and sensors, recorded the expected seasonal
revenue effects together with continued strong gross margins in the first
quarter of 2013, which demonstrates the strength of the company's technology
portfolio for high performance sensor and analog solutions. 

First quarter group revenues were EUR 84.9 million, 6% lower than in the same
quarter 2012 (6% lower in constant currency terms) and 13% lower
quarter-on-quarter. Gross margin increased to 54%, excluding acquisition-related
amortization, and was unchanged at 51%, including acquisition-related
amortization, compared to 53%, excluding acquisition-related amortization, and
51%, including acquisition-related amortization, in the first quarter 2012.
ams' project pipeline into 2014 expanded significantly with major smartphone-
and mobile device-related projects in the quarter. To pursue these
opportunities, ams has added engineers and resources in its development and
field application support groups; these additions are reflected in research &
development and sales, general & administrative costs, respectively. The result
from operations (EBIT) for the first quarter was EUR 10.5 million, 43% lower
than in the same period 2012. The first quarter net result was EUR 9.9 million
compared to EUR 19.2 million in the same period 2012 and basic / diluted
earnings per share were CHF 0.91 / 0.87 or EUR 0.74 / 0.70 (CHF 1.81 / 1.75 or
EUR 1.50 / 1.46 in the first quarter 2012). Total backlog, excluding consignment
stock agreements, was EUR 77.4 million on March 31, 2013 showing the seasonal
effects (EUR 90.9 million on December 31, 2012 and EUR 100.5 million on March
31, 2012). Operating cash flow was EUR 13.7 million compared to EUR 24.6 million
in the first quarter 2012.

ams' business saw a solid performance in the first quarter given the company's
strong position in high performance analog and sensor products while reflecting
expected seasonality in revenues.

In Consumer & Communications, the growth in smartphone and tablet PC
applications remains a major driver for ams' business as the company serves a
growing number of leading mobile device OEMs. ams continued to ship a broad
portfolio of intelligent light sensor products to market-leading OEMs in high
volumes. In mobile sensor interfaces, the company's MEMS microphone IC business
had a positive start into the year. OEM activities involving ams' high
performance power management solution for a leading graphics processor vendor
remain at high levels while the increasing use of sensors in smartphones and
mobile devices is resulting in new applications which ams is supporting. Several
of the company's major customers are in the midst of product refresh cycles. ams
expects that this will increase quarter-on-quarter revenue growth in subsequent

In its wireless business for RFID and NFC, ams sees very strong development and
design-in efforts for its NFC solutions including front ends, antenna boost and
peer-to-peer capabilities, together with rising shipments of mass-production
products. High sensitivity is a critical aspect of the performance of NFC
systems; here ams brings world-class technology to major vendors helping them
create a seamless user experience around mobile devices with the highest
performance and smallest form factor available in the market.

In the company's industrial and medical businesses ams recorded positive results
based on its broad range of end markets which ams serves through high
performance solutions for sensors and sensor interfaces.  Several of ams'
industrial end markets are beginning to show improvements in demand patterns
supporting the positive development of the company's business going forward. At
the same time, major medical device OEMs continue to build their success on ams'
innovative medical sensor solutions. ams' automotive business had a good start
into the year with its focus on critical sensor applications, despite the
ongoing demand challenges in the global automotive sector. ams sees strong
design activities around its solutions across markets, demonstrating the success
of the company's products and creating a sound basis for further profitable
growth in the future.
ams' CEO John Heugle has informed the Supervisory Board of the company that he
will not extend his contract beyond the current term ending February 2014. He
will continue to serve with full commitment as CEO for the term of his current
contract. The Supervisory Board will begin the search for a competent successor.
Based on currently available information, ams reiterates its 2013 revenue
guidance and expects full year revenue growth to exceed 10% compared to 2012
with stronger growth in profitability. This expectation requires ramp-ups of new
programs in the second half of 2013 and is based on the continued success of
ams' customer base of global OEMs and the company's expanding position in the
growing markets for smartphones, tablet PCs, and other mobile devices.

The first quarter 2013 report including additional financial information is
available on the company website at 

Implementing the changes in Swiss securities law, ams will include information
regarding the total number of shares in the Investor section of the company
website starting May 1, 2013.
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 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

Further inquiry note:
Moritz M. Gmeiner
Director Investor Relations
Tel: +43 3136 500-31211
Fax: +43 3136 500-931211

end of announcement                               euro adhoc 

issuer:      ams AG
             Tobelbader Strasse   30
             A-8141 Unterpremstaetten
phone:       +43 3136 500-0
FAX:         +43 3136 500-931211
sector:      Technology
ISIN:        AT0000920863
stockmarkets: official dealing: SIX Swiss Exchange 
language:   English

Weitere Meldungen: ams AG

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