EANS-Adhoc

ams AG / ams reports record third quarter revenues and earnings ahead of expectations; expects revenue growth and strong profitability in fourth quarter

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Financial Figures/Balance Sheet/9-month report
20.10.2014

Key financial data for the third quarter 2014

Unterpremstaetten, Austria (20 October 2014) - ams (SIX: AMS), a
leading provider of high performance sensor solutions and analog ICs,
reports third quarter 2014 revenues and profitability ahead of
expectations with both gross margin and operating profitability (EBIT
margin) increasing substantially year-on-year. Based on additional
product ramp-ups, ams expects revenue growth and ongoing strong
profitability in the fourth quarter 2014.

Third quarter group revenues were EUR 132.8 million, the highest
quarterly revenues in the company's history, up 25% sequentially
compared to the second quarter and up 35% from EUR 98.2 million in
the same quarter 2013. On a constant currency basis, third quarter
revenues were 34% higher compared to the third quarter last year.

Gross margin remained on a record level of 57%, excluding
acquisition-related costs, and 55%, including acquisition-related
costs, compared to 55%, excluding acquisition-related costs, and 53%,
including acquisition-related costs, in the same quarter 2013.

The result from operations (EBIT) excluding acquisition-related costs
for the third quarter rose to the record level of EUR 37.4 million or
28% of revenues, compared to EUR 22.5 million in the third quarter of
2013. The result from operations (EBIT) including acquisition-related
costs for the third quarter was EUR 34.5 million or 26% of revenues,
compared to EUR 20.0 million in the same period 2013. The net result
for the third quarter was EUR 31.9 million compared to EUR 18.6
million in the same period 2013. Basic/diluted earnings per share
were CHF 0.57/0.54 or EUR 0.47/ 0.45 based on 68,071,765/70,796,466
shares (basic/diluted; weighted average) compared to CHF 0.34/ 0.33
or EUR 0.28/0.27 based on 67,220,166/69,181,615 shares
(basic/diluted; split-adjusted weighted average) in the third quarter
2013.

Operating cash flow for the third quarter was EUR 37.1 million,
compared to EUR 34.0 million in the third quarter last year. Total
backlog on 30 September 2014 (excluding consignment stock agreements)
was EUR 119.8 million, compared to EUR 107.1 million on 30 June 2014