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

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Financial Figures/Balance Sheet/9-month report
21.10.2013

Key financial data for the third quarter 2013

Unterpremstaetten, Austria (21 October 2013) - ams (SIX: AMS), a
leading provider of high performance analog ICs and sensors, recorded
expected quarter-on-quarter revenue growth in the third quarter 2013,
while operating profitability (EBIT margin) increased as expected.
Despite currency headwinds ams expects meaningful quarter-on-quarter
revenue growth and further growth in operating profitability in the
fourth quarter 2013.

Third quarter group revenues were EUR 98.2 million, 5% lower than in
the same quarter 2012 (1% lower in constant currency terms), and 8%
higher quarter-on-quarter. Gross margin was 55%, excluding
acquisition-related amortization, and 53%, including
acquisition-related amortization, compared to 56%, excluding
acquisition-related amortization, and 53%, including
acquisition-related amortization, in the third quarter 2012.

The result from operations (EBIT) for the third quarter was EUR 20.0
million or 20% of revenues, compared to EUR 25.5 million in the same
period 2012. The third quarter net result was EUR 18.6 million
compared to EUR 24.5 million in the same period 2012 and basic /
diluted earnings per share were CHF 1.71 / 1.66 or EUR 1.38 / 1.35
based on 13,444,033 / 13,836,323 shares (basic/diluted; weighted
average) compared to CHF 2.30 / 2.17 or EUR 1.91 / 1.81 based on
12,827,218 / 13.571,970 shares (basic/diluted; weighted average) in
the third quarter 2012. Total backlog, excluding consignment stock
agreements, was EUR 91.2 million on September 30, 2013 (EUR 82.4
million on June 30, 2013 and EUR 90.6 million on September 30, 2012).
Operating cash flow for the third quarter was EUR 34.0 million
compared to EUR 36.1 million in the third quarter 2012.

ams' business showed a solid performance in the third quarter given
positive momentum in key end markets and our strong position in high
performance sensor and analog solutions.

In Consumer & Communications, ams continued high volume shipments of
its broad portfolio of intelligent light sensors to major smartphone
and device OEMs. This included expected ramp-up activities driven by
new global platforms. The company's MEMS microphone driver business
for a wide range of consumer devices continued to grow at attractive
margins in the quarter.

ams' wireless business remained focused on significant development
and design-in activities for its NFC solutions, including antenna
boost, while released products recorded positive volume trends. ams
enables seamless transactions through high sensitivity performance in
the smallest form factors available. Given strong OEM engagements and
commitments ams feels confident about its position in the NFC market
and profitable growth from high volume NFC applications. At the same
time, ams is developing the next generation of NFC products to
support future devices and technologies.

ams' industrial and medical business once more showed positive
results in the third quarter. Industrial end-market demand remained
attractive, supporting the momentum of the company's industrial
business in the second half of the year. ams high performance sensors
and sensor interfaces are enabling a broad range of industrial
applications for leading OEMs worldwide. The company's sensor
solutions for digital imaging, which includes leading-edge computed
tomography (CT), mammography and ultrasound, continue to be key
drivers for ams' medical business.

In its automotive business, ams is seeing ongoing healthy demand for
its sensor and sensor interface solutions across major OEM platforms.
Critical in-vehicle systems incorporate ams' sensor expertise to
provide higher levels of safety and reliability for drivers
worldwide. Based on a full pipeline of automotive design-ins, for
which ams has added further resources in the quarter, the company's
automotive business is expected to show attractive growth in the
years to come.

For the fourth quarter 2013, ams expect meaningful sequential and
year-on-year revenue growth with revenues of EUR 108-114 million
despite currency headwinds. Further product ramp-ups, particularly in
Consumer & Communications, are expected to drive this growth. ams
sees profitability continuing to increase in the fourth quarter and
expects EBIT margin to expand further by more than 100 bps
quarter-on-quarter.

Given the company's extensive product and design-in pipeline for
smartphones, mobile devices, industrial, medical, and automotive
systems ams is confident about the positive development of its
business in the future. ams therefore confirms its strong longer term
outlook for meaningful growth in revenues and further growth in
profitability in the coming years.

The company's third quarter report 2013 including additional
financial information is available on the company website at
http://www.ams.com/eng/Investor/Financial-Reports

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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 listed on the
SIX Swiss stock exchange (ticker symbol: AMS). More information about
ams can be found at www.ams.com.

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

end of announcement euro adhoc
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issuer: ams AG
Tobelbader Strasse 30
A-8141 Unterpremstaetten
phone: +43 3136 500-0
FAX: +43 3136 500-931211
mail: investor@ams.com
WWW: www.ams.com
sector: Technology
ISIN: AT0000920863
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English