austriamicrosystems reports successful first quarter
Key financial data for the first quarter 2006
austriamicrosystems (SWX: AMS), revenues and earnings continued to grow in the first quarter 2006 compared to same quarter last year.
Consolidated group revenues for the first quarter increased to EUR 38.8 million from EUR 35.2 million in the first quarter 2005, growing slightly more than 10%. Gross margin for the first quarter 2006 reached 45%, compared to 43% in the same period last year.
The result from operations (EBIT) for the first quarter 2006 grew to EUR 4.3 million, increasing 5% compared to the same quarter last year. The net result for the first quarter moved up to EUR 3.9 million, an increase of 38% from EUR 2.9 million in the same period of 2005. Earnings per share for the first quarter were CHF 0.56 / EUR 0.36. Total backlog grew further reaching EUR 58.3 million on March 31, 2006 compared to EUR 46.1 million on March 31, 2005.
The first quarter results clearly show austriamicrosystems’ continuing success in its target markets Communications, Industry & Medical and Automotive and the good demand for its broad portfolio of high performance customized and standard products.
austriamicrosystems sees growing demand for its advanced lighting and power management solutions for mobile handsets and other portable devices. The company’s high performance portable audio solutions for MP3-based audio players and related devices are very successful in the marketplace with major customers ramping production with austriamicrosystems’ products. In this area, austriamicrosystems is strongly positioned both in complete system solutions and analog front-ends which integrate advanced audio and power management functionalities.
austriamicrosystems’ Industry & Medical and Automotive units also continue to see good demand for their products, delivering a wide range of analog ICs and system solutions to a worldwide base of high quality customers. In operations, the preparations for setting up the new international locations, a second design center in India and a test center in the Philippines, are progressing as planned.
austriamicrosystems foresees its business to continue to develop well in the current year. Based on available information, austriamicrosystems confirms its expectation of increasing full year revenues for 2006 by between 10 and 15% compared to last year, accompanied by further strong growth in earnings.
The complete quarterly report for the first quarter 2006 including detailed financial information is available on austriamicrosystems’ website.
austriamicrosystems is a leading designer and manufacturer of high performance analog ICs, combining almost 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 customized and standard analog products. Operating worldwide with more than 850 employees, austriamicrosystems focuses on the areas of power management, sensors & sensor interfaces, portable audio and car access in its markets Communications, Industry & Medical and Automotive, complemented by its Full Service Foundry activities. austriamicrosystems is listed on the SWX Swiss Exchange in Zurich (ticker symbol: AMS).