austriamicrosystems reports first quarter results

The result from operations (EBIT) for the first quarter increased to EUR 18.3 million, up 125% from EUR 8.2 million in the same period 2011. The first quarter net result was EUR 19.2 million compared to EUR 7.4 million in the same period
2011 and basic / diluted earnings per share were CHF 1.81 / 1.75 or EUR 1.50 / 1.46 (CHF 0.94 / 0.92 and EUR 0.73 / 0.71 in the first quarter 2011). Total backlog (excluding consignment stock agreements) was EUR 100.5 million on March
31, 2012 (EUR 90.0 million on December 31, 2011 and EUR 69.4 million on March 31, 2011). Operating cash flow increased to EUR 24.6 million compared to EUR 14.6 million in the first quarter 2011. austriamicrosystems´ business showed a strong performance in the first quarter underscoring the excellence of the company´s product portfolio and its expanding market reach in high performance analog. In Consumer & Communications austriamicrosystems is experiencing ongoing strong growth in smartphone and tablet PC applications which shows no signs of deceleration. austriamicrosystems´ light sensor products are shipping in high volumes to leading OEMs for globally successful platforms and models. New accounts started to have a positive impact in this product area with shipment volumes increasing at a quickening pace. MEMS microphone ICs continue their expansion in the current year while the company´s Wireless business for RFID and related technologies shows dynamic growth from innovative applications.

In its Industry & Medical business austriamicrosystems is starting to see an improvement in industrial customers´ order activity based on a brightening end market outlook. In Medical, shipment volumes for the company´s industry-leading high performance imaging sensor solutions continued to grow in the quarter. austriamicrosystems´ Automotive business recorded expanding run rates for advanced sensor interfaces and sensors in safety applications for major systems suppliers. Overall, design activity and wins show a strongly positive trend at both, direct OEM accounts and the company´s quickly growing worldwide distribution customer base. Based on currently available information, austriamicrosystems increases its 2012 revenue guidance again and now expects full year revenue growth to exceed 30% compared to 2011 together with a faster growth in earnings. austriamicrosystems sees positive demand momentum across markets and a continued expansion of its business in the fast-growing markets for smartphones, tablet PCs, and other mobile devices.