ams' revenues lower than last year

Despite currency headwinds ams expects meaningful quarter-on-quarter revenue growth and further growth in operating profitability in the fourth quarter 2013. Third quarter group revenues were EUR 98.2 million, 5% lower than in the same quarter 2012 (1% lower in constant currency terms), and 8% higher quarter-on-quarter. Gross margin was 55%, excluding acquisition-related amortization, and 53%, including acquisition-related amortization, compared to 56%, excluding acquisition-related amortization, and 53%, including acquisition-related amortization, in the third quarter 2012. The result from operations (EBIT) for the third quarter was EUR 20.0 million or 20% of revenues, compared to EUR 25.5 million in the same period 2012. The third quarter net result was EUR 18.6 million compared to EUR 24.5 million in the same period 2012. Operating cash flow for the third quarter was EUR 34.0 million compared to EUR 36.1 million in the third quarter 2012. For the fourth quarter 2013, ams expect meaningful sequential and year-on-year revenue growth with revenues of EUR 108-114 million despite currency headwinds. Further product ramp-ups, particularly in Consumer & Communications, are expected to drive this growth. ams sees profitability continuing to increase in the fourth quarter and expects EBIT margin to expand further by more than 100 bps quarter-on-quarter.