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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
26.10.2010
Key financial data for the third quarter of 2010
Unterpremstaetten, Austria (October 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 and 
earnings growth for the third quarter of 2010 driven by continuing 
strength in the company´s product platforms across target markets and
regions. austriamicrosystems expects further revenue growth in the 
fourth quarter and therefore raises its full year 2010 revenue 
guidance again. For 2011, the company expects attractive full year 
growth in revenues and earnings, based on available information.
Third quarter group revenues were EUR 55.7 million, up 41% from EUR 
39.5 million in the same quarter 2009 (34% in constant currency 
terms). Third quarter revenues increased 8% sequentially compared to 
the second quarter. Gross margin for the third quarter increased to 
49%, 2 percentage points higher than in the second quarter and up 12 
percentage points compared to the same quarter 2009.
The result from operations (EBIT) for the third quarter grew strongly
to EUR 9.2 million, compared to a loss of EUR 0.2 million in the 
third quarter last year. This positive result was mainly due to the 
significant increase in gross margin.
The third quarter net result was a profit of EUR 8.0 million compared
to a loss of EUR 0.6 million in the same period 2009. Basic and 
diluted earnings per share for the third quarter were CHF 1.04 / EUR 
0.78 and CHF 1.02 / EUR 0.77 respectively (CHF -0.08 / EUR -0.05 for 
the third quarter 2009). Total backlog (excluding consignment stock 
agreements) stood at EUR 75.6 million on September 30, 2010, up from 
EUR 35.8 million on September 30, 2009. Operating cash flow for the 
third quarter was EUR 17.9 million, up from EUR 6.2 million in the 
same quarter 2009, which allowed a reduction of total debt by EUR 10 
million.
austriamicrosystems´ business showed a strong performance in the 
third quarter based on growth in demand from the company´s target 
markets. austriamicrosystems continued to record high run rates for 
Consumer & Communications product lines including MEMS microphones, 
LCD TV backlighting, portable lighting management and advanced power 
management solutions. More and more devices and customers benefit 
from the advantages of austriamicrosystems´ small scale ultra low 
power designs while new product launches sustained and strengthened 
the company´s market position in important areas.
The industrial market delivered strong results and showed a further 
increase in delivery rates due to sustained healthy demand from 
industrial and healthcare OEMs. Run rates have returned to pre-crisis
levels for austriamicrosystems´ industrial business including the 
world´s most diversified and advanced magnetic encoder offering. In 
its automotive business, austriamicrosystems saw continued strong run
rates driven by the broad-based end demand fuelling the global 
automotive sector. Across focus areas, numerous high value 
design-wins confirmed the attractiveness of austriamicrosystems´ 
product offering building the company´s revenue pipeline for the 
coming years. austriamicrosystems´ worldwide manufacturing operations
returned to full, pre-crisis utilization levels driving efficiency 
and margins.
austriamicrosystems sees good demand continuing in the fourth quarter
helped by its low exposure to the PC sector. Therefore 
austriamicrosystems raises its guidance for 2010 based on expected 
revenue growth in the fourth quarter and now expects full year 
revenue growth to exceed 50% resulting in a strong increase in EBIT 
and net result. austriamicrosystems expects attractive growth in full
year revenues and earnings also for 2011, based on currently 
available information. While austriamicrosystems continues to meet 
all its customers´ requirements the company sees ongoing structural 
capacity tightness in the analog market, a situation 
austriamicrosystems expects to persist into the coming year.
The complete third quarter report 2010 including detailed financial 
information is available on austriamicrosystems´ website under 
http://www.austriamicrosystems.com/eng/Investor/Financial-Reports
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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