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

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28.04.2011

Key financial data for the first quarter 2011

Unterpremstaetten, Austria (April 28, 2011) — austriamicrosystems (SIX: AMS), a
leading worldwide designer and manufacturer of high performance analog ICs for
consumer & communications, industry & medical and automotive applications,
reports year-on-year revenue and earnings growth for the first quarter of 2011
driven by robust demand across target markets. Reiterating its 2011 guidance,
austriamicrosystems expects full year revenue growth of around 10% together with
a faster increase in EBIT and net result.

First quarter group revenues were EUR 55.2 million, up 25% from EUR 44.0 million
in the same quarter 2010 (25% in constant currency terms) and 5% lower
quarter-on-quarter. Gross margin for the first quarter was 51%, 7 percentage
points higher than in the same quarter 2010 and unchanged from the previous
quarter.

The result from operations (EBIT) for the first quarter grew to EUR 8.2 million,
up 165% from EUR 3.1 million in the same period 2010, in spite of a negative
EUR/USD exchange rate trend in the quarter. The first quarter net result was EUR
7.4 million compared to EUR 2.0 million in the same period 2010. Basic and
diluted earnings per share for the first quarter were CHF 0.94 / CHF 0.92 and
EUR 0.73 / EUR 0.71 respectively (CHF 0.29 / CHF 0.29 and EUR 0.20 / EUR 0.20 in
the same period 2010).

Total backlog (excluding consignment stock agreements) stood at EUR 69.4 million
on March 31, 2011, up from EUR 65.5 million on March 31, 2010. Operating cash
flow increased to EUR 14.6 million, compared to EUR 8.0 million in the first
quarter 2010. This cash flow improvement resulted in a net cash position of EUR
7.2 million at the end of the first quarter.

austriamicrosystems´ business performed strongly in the first quarter with lower
quarter-on-quarter revenue seasonality compared to historic results. This
positive development was due to continuing healthy demand from all markets and
geographies. High run rates for its Consumer & Communications product lines
including MEMS microphone ICs, portable lighting management and power management
were again a key driver for austriamicrosystems´ business in the first quarter.
LED backlighting adoption in LCD TVs also continues its upward trend in the
current year. The company´s Industry & Medical business recorded another strong
quarter with shipment rates into the industrial market continuing at high
levels, very solid order and design activity worldwide and excellent demand in
sensor interfaces and medical imaging. austriamicrosystems´ Automotive business
continued its positive development based on attractive run rates in sensor
products.

Overall, austriamicrosystems is successfully increasing its market presence and
penetration through direct and distribution sales. Capacity utilization remains
very high; in combination with product mix improvements this drove the gross
margin expansion in the quarter. Together with the resources at its
manufacturing partners austriamicrosystems´ production model offers clear
benefits in quality and delivery security to the company´s customers.
austriamicrosystems has been deeply saddened by the toll on human life in Japan.
While austriamicrosystems does not have meaningful exposure to Japanese
suppliers the company nevertheless secured its supply chain, including
subcontractors and their suppliers, as a precautionary measure and is in the
position to fully meet expected customer demand this year, whereas capacity
tightness in the global analog market will most likely continue in 2011.

austriamicrosystems sees its business continuing to develop positively in the
coming quarters. Therefore austriamicrosystems reiterates its guidance for 2011
and expects full year revenue growth of around 10% together with a faster
increase in EBIT and net result, based on available information.

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

Concurrent with the first quarter results, austriamicrosystems publishes its
Annual Report 2010 which is also available at
http://www.austriamicrosystems.com/eng/Investors/Financial-Reports . Printed
copies of the Annual Report will be available from mid-May.

About austriamicrosystems

austriamicrosystems is a leading designer and manufacturer of high performance
analog ICs, combining over 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 1,100 employees, austriamicrosystems focuses on the
areas of power management, sensors & sensor interfaces and mobile infotainment
in its markets Consumer & Communications, Industry & Medical and Automotive.
austriamicrosystems is listed on the SIX Swiss Exchange in Zurich (ticker: AMS).
For more information, please visit www.austriamicrosystems.com

Further inquiry note:
Moritz M. Gmeiner
Director Investor Relations
Tel: +43 3136 500-5970
Fax: +43 3136 500-5420
Email: [email protected]
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:        [email protected]
WWW:         www.austriamicrosystems.com
sector:      Technology
ISIN:        AT0000920863
indexes:

stockmarkets: official dealing: SIX Swiss Exchange
language: English

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