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austriamicrosystems AG

EANS-Adhoc: austriamicrosystems AG
austriamicrosystems reports first 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.
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.
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: SIX Swiss Exchange / official dealing

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