Electronics Production | July 31, 2006
austriamicrosystems reports strong growth
austriamicrosystems AG continued to grow profitably in the second quarter and first six months of 2006. The second quarter and first half of 2006 show substantial increases in revenues, margins and earnings, compared to the previous year.
Consolidated group revenues in the second quarter reached EUR 45.9 million, growing by 14% compared to the same quarter in 2005, in-line with expectations. Group revenues for the first six months of 2006 increased by 12% to EUR 84.6 million compared to the first half of 2005. In the second quarter austriamicrosystems recorded a gross margin of 47% compared to 44% in the same quarter of last year, as a result of improvements in our product mix and manufacturing costs. For the first half of the current year, gross margin reached 46%, an increase of two percentage points compared to the first six months of 2005. The result from operations (EBIT) for the second quarter rose to EUR 6.1 million, an increase of 39% from EUR 4.4 million in the second quarter of 2005, taking into account expected R&D costs for major platform developments and SG&A expenses to support austriamicrosystems' growing business. The result from operations (EBIT) for the first half-year 2006 reached EUR 10.4 million compared to EUR 8.5 million in the same period last year, an increase of 22%. Net income for the second quarter 2006 grew by 61% to EUR 5.7 million from EUR 3.5 million in the comparable period last year. Earnings per share for the second quarter were CHF 0.81 / EUR 0.51 (basic and diluted). Net income for the first half of 2006 reached EUR 9.6 million (CHF 1.37 / EUR 0.87 per share) growing by 51% compared to EUR 6.4 million (CHF 0.90 / EUR 0.58 per share) for the same period last year. Total backlog increased further reaching EUR 64.6 million on June 30, 2006, compared to EUR 58.3 million at the end of the first quarter 2006 and EUR 54.1 million on June 30, 2005.