ams AG

EANS-Adhoc: ams AG
ams reports first quarter results ahead of revenue guidance and showing over 500 bp year-on-year EBIT margin increase; publishes Annual Report 2013


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Financial Figures/Balance Sheet/3-month report
28.04.2014


Key financial data for the first quarter 2014

Unterpremstaetten, Austria (28 April 2014) - ams (SIX: AMS), a leading provider
of high perfor-mance sensors and analog ICs, recorded quarterly revenues ahead
of guidance for the first quarter 2014, while operating profitability (EBIT
margin) increased substantially by over 500 bp year-on-year. Given high run
rates for new products, ams expects considerable quarter-on-quarter growth and
further growth in operating profitability in the second quarter 2014.

First quarter group revenues were EUR 86.3 million, 2% higher than in the same
quarter 2013 (4% higher in constant currency terms), and 17% lower
quarter-on-quarter. Gross margin was 56%, excluding acquisition-related
amortization, and 54%, including acquisition-related amortization compared to
54%, excluding acquisition-related amortization, and 51%, including
acquisition-related amortization, in the first quarter 2013. 

The result from operations (EBIT) for the first quarter was EUR 15.4 million or
18% of revenues, up 47% from EUR 10.5 million in the same period 2013. The first
quarter net result was EUR 14.7 million compared to EUR 9.9 million in the same
period 2013. Basic/diluted earnings per share were CHF 1.32/1.26 or EUR
1.08/1.04 based on 13,547,542/14,177,959 shares (average; basic/diluted), up
from CHF 0.91/0.87 or EUR 0.74/0.70 based on 13,410,605/14,077,837 shares
(average; basic/diluted) in the first quarter 2013. Total backlog, excluding
consignment stock agreements, was impacted by shortened order lead times in
Consumer and Communications and stood at EUR 85.5 million on March 31, 2014, up
from EUR 76.6 million on December 31, 2013 and EUR 77.4 million on March 31,
2013. Operating cash flow for the first quarter was EUR 14.3 million compared to
EUR 13.7 million in the first quarter 2013.

ams' business showed positive results in the first quarter given a good
performance of key end markets and the company's leading position in high
performance sensor and analog solutions for demanding applications. 

In Consumer and Communications, ams started shipping its innovative gesture
sensor module in mass production volumes in the first quarter. The module
combines RGB color and proximity sensing with mobile coupon redemption and
advanced gesture recognition for mobile device applications. ams is already
seeing very high run rates for this product supplying major Asian smartphone
OEMs. At the same time, high volume shipments of the company's other intelligent
light sensors and MEMS microphone drivers to large smartphone and mobile device
OEMs continued at an attractive pace. 

Within its wireless product range ams is gearing up for large scale customer
projects using the company's NFC solutions, namely its antenna boost products
which enable seamless transactions in the smallest form factors available. ams
expects the trend of NFC adoption in smartphones to accelerate in 2014 driving
high volume NFC shipments and profitable growth for the company and confirming
ams' strong position in NFC hardware solutions. As the company develops the next
generation of NFC products ams continues to be agnostic toward the physical
position of the NFC secure element which may be embedded into the device,
integrated into a SIM card or accessed in dematerialized form over the network.

ams' industrial and medical business performed well in the first quarter. The
demand environment in industrial end markets continues to be positive supporting
growth of the company's industrial product lines. ams supplies dedicated sensors
and sensor interfaces into a broad range of industrial applications worldwide.
ams' medical business remains focused around the company's sensor solutions for
digital imaging, which includes leading edge computed tomography (CT),
mammography, digital X-ray and ultrasound.

The company's automotive business also had a good start into the year and sees
continuing healthy demand for its sensor and sensor interface solutions in 2014.
ams products will be included in additional vehicle platforms this year so that
even more critical safety and control systems rely on ams' sensor expertise to
provide higher levels of safety and reliability. Based on its pipeline of
automotive design-ins, the company continues to anticipate its automotive
business delivering attractive growth in the years to come.

For the second quarter 2014, ams expects strong sequential and year-on-year
revenue growth with revenues of EUR 100-105 million in the current exchange rate
environment. High volume shipments for new Consumer and Communications products
are expected to drive this growth. ams sees profitability continuing to increase
in the second quarter and expects EBIT margin to expand further by more than 150
bp quarter-on-quarter.

ams feels confident about the positive development of its business through 2014
given its product and design-in pipeline for smartphones, mobile devices,
industrial, medical, and automotive systems. The company's focus on sensor
solutions offers a wealth of opportunities supporting ams' longer term outlook
for continued growth in revenues and profitability in the coming years.

The company's first quarter report 2014 including additional financial
information is available on the company website at
http://www.ams.com/eng/Investor/Financial-Reports . Concurrently, ams has
published the Annual Report 2013. The Annual Report is also available on the
company website at http://www.ams.com/eng/Investor/Financial-Reports .


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
 

 

 

Original-Content von: ams AG, übermittelt durch news aktuell

Weitere Meldungen: ams AG

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