EANS-Adhoc: austriamicrosystems AG / austriamicrosystems reports third quarter results

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9-month report

24.10.2011

Key financial data for the third quarter 2011

Unterpremstaetten, Austria (October 24, 2011) — austriamicrosystems
(SIX: AMS), a leading worldwide designer and manufacturer of high
performance analog ICs for consumer & communications, industry &
medical and automotive applications, reports revenue and earnings
growth for the third quarter of 2011 demonstrating the success of its
broad-based portfolio and the strength of the combination of
austriamicrosystems and TAOS. Increasing its 2011 guidance,
austriamicrosystems now expects full year revenues of EUR 270-275m
(USD 365-371m).

Third quarter group revenues reflect the first-time consolidation of
TAOS at EUR 81.7 million, up 47% compared to the same quarter 2010
(55% in constant currency terms) and 41% quarter-on-quarter. Gross
margin was 50% despite a recurring depreciation charge of around EUR
2 million per quarter from the TAOS purchase and a one-time ramp-up
effect for a recently launched global smartphone, compared to 49% in
the third quarter 2010 and 51% in the previous quarter.

The result from operations (EBIT) for the third quarter grew to EUR
13.0 million, up 41% from EUR 9.2 million in the same period 2010, in
spite of an unfavorable EUR/USD exchange rate development in the
quarter. The third quarter net result was EUR 9.5 million (EUR 8.0
million in the same period 2010) and basic / diluted earnings per
share were CHF 0.87 / 0.86 or EUR 0.74 / 0.73 (CHF 1.04 / 1.02 and
EUR 0.78 / 0.77 in the third quarter 2010).

Total backlog (excluding consignment stock agreements) was EUR 89.1
million on September 30, 2011 (EUR 61.9 million on June 30, 2011 and
EUR 75.6 million on September 30, 2010). Operating cash flow
increased to EUR 20.9 million (EUR 17.9 million in the third quarter
2010).

austriamicrosystems´ business showed a robust performance in the
third quarter driven by the company´s broad market reach and the
expansion of its product portfolio with TAOS´ market-leading optical
sensors. The integration of TAOS´ business with austriamicrosystems´
existing activities is fully on track and progressing towards a
seamless worldwide organization focused on power management,
wireless, sensors and sensor interfaces. Overall, austriamicrosystems
sees excellent opportunities for the combined business.

In Consumer & Communications austriamicrosystems is experiencing
strong growth in smartphone and tablet PC applications. This trend is
underpinned by the success and high volumes of leading customers´
smartphone platforms including new models and a global smartphone
recently launched by a key customer. With ongoing high run rates,
MEMS microphone ICs continued their dynamic growth validating the
company´s clear market leader position while Active Noise
Cancellation is gaining market presence. austriamicrosystems´
Industry & Medical business recorded another robust quarter and
remains the strong foundation of the company. Design activity and
wins for industrial solutions continued at a very attractive pace
creating additional future-year revenue streams from increased
applications. austriamicrosystems´ Automotive business continued to
show a good performance as the company delivers critical sensor
interfaces and sensors to major systems suppliers. In operations,
austriamicrosystems is adding subcontractor sourcing sites to fortify
its optical sensor supply chain driven by recent events in Thailand.

Based on the successful combination with TAOS, austriamicrosystems
increases its 2011 revenue guidance to EUR 270-275m (USD 365-371m).
Based on currently available information, despite more cautious order
trends in certain markets and supply chain related efforts,
austriamicrosystems sees its business continuing to develop
positively in the current quarter and expect revenues for the fourth
quarter on a similar level as the third quarter. For 2012,
austriamicrosystems expects double-digit growth in revenues and
earnings compared to 2011.

The complete third quarter report 2011 including detailed financial
information is available on austriamicrosystems´ website under
http://www.austriamicrosystems.com/eng/Investor/Financial-Reports

Further inquiry note:
Moritz M. Gmeiner
Director Investor Relations
Tel: +43 3136 500-5970
Fax: +43 3136 500-5420
Email: investor@austriamicrosystems.com

end of announcement euro adhoc
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issuer: austriamicrosystems AG
Schloß Premstaetten
A-8141 Unterpremstaetten
phone: +43 3136 500-0
FAX: +43 3136 500-5420
mail: investor@austriamicrosystems.com
WWW: www.austriamicrosystems.com
sector: Technology
ISIN: AT0000920863
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English