DGAP-News: AIXTRON announces record third quarter 2010 results / Sequential growth in Orders, Revenues&EBIT continues / LED lighting gaining momentum / 2010 Revenue guidance of ca. EUR 750m (ca. USD 1bn) reiterated / 2010 EBIT margin guidance increased to
(firmenpresse) - AIXTRON AG / Key word(s): Quarter Results/Change in Forecast
28.10.2010 07:25
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AIXTRON announces record third quarter 2010 results
- Sequential growth in Orders, Revenues&EBIT continues -
- LED lighting gaining momentum -
- 2010 Revenue guidance of ca. EUR 750m (ca. USD 1bn) reiterated -
- 2010 EBIT margin guidance increased to ca. 35% -
- New R&D center open this month -
Aachen, Germany, October 28, 2010 - AIXTRON AG (FSE: AIXA; NASDAQ: AIXG),
worldwide leading provider of deposition equipment to the semiconductor
industry, today announced the consolidated financial results for the first
nine months of 2010.
Key Financials
2010 2009 9M-9M 2010 2009 Q3-Q3Financial Highlights
(in EUR million) 9M 9M Q3 Q3
Revenues 559.1 184.9 202% 212.7 82.0 159%
Gross profit 294.5 79.2 272% 110.6 34.7 219%
Gross margin 53% 43% 10 pp 52% 42% 10 pp
Operating result (EBIT) 189.6 29.0 554% 82.6 16.7 395%
EBIT margin 34% 16% 18 pp 39% 20% 19 pp
Net result 130.9 20.4 542% 56.8 11.6 390%
Net result margin 23% 11% 12 pp 27% 14% 13 pp
Net result per share - basic
(EUR) 1.31 0.23 470% 0.57 0.13 338%
Net result per share - diluted
(EUR) 1.29 0.22 486% 0.56 0.12 367%
Equipment order intake 544.3 206.7 163% 200.4 117.6 70%
Equipment order backlog (end of
period) 278.7 152.4 83% 278.7 152.4 83%
Continuing healthy demand, beneficial volume effects, and a stronger US
Dollar have all contributed to the positive business performance in
9M/2010. The gross margin in 9M/2010 was 10 percentage points higher at 53%
compared to 9M/2009. The 9M/2010 operating result increased year on year by
554% to EUR 189.6m, with a 18 percentage points higher EBIT margin of 34%,
leading to a net result of EUR 130.9m or 23% return on sales. The 9M/2010
net income was up 542% year on year.
Q3/2010 saw a continuation of the positive growth trend in orders, revenues
and profitability seen in prior quarters. Supported by ongoing high system
demand, mainly fuelled by High Brightness LED backlighting and lighting
applications, and positively influenced by the stronger US Dollar, Q3/2010
revenues increased by 11% over the second quarter from EUR 191.8m to EUR
212.7m. The quarterly gross margin declined sequentially by 3 percentage
points from 55% in Q2/2010 to 52% in Q3/2010 mainly due to the product and
final acceptance mix in the quarter. Despite some offsetting effects on the
operating margin from currency hedging and translation expenses, the
operating result sequentially increased by 36% to EUR 82.6m in Q3/2010 to
result in an EBIT margin of 39%. Net income improved by 34% over Q2/2010
from EUR 42.3m to EUR 56.8m or 27% of sales.
In line with Management expectations; equipment orders were recorded on a
very high level (Q1/2010 EUR 168.5m; Q2/2010 EUR 175.4m;Q3/2010 EUR
200.4m), continuing the strong demand trend previously predicted.
Approximately 30% of the LED system orders recorded in Q3/2010 were for our
new generation systems, launched in Q1/2010.
Management Review
Paul Hyland, President&Chief Executive Officer at AIXTRON, comments:
'I am delighted that we have once more delivered on what we said we would
deliver, namely a very strong set of results with excellent operational
leverage. I believe it is a significant moment, when we can report an EBIT
figure for the first nine months of the year that is higher than the
revenue figure for the same period in the prior year.
Reflecting the positive outlook for our business for the remainder of the
year, we have reiterated our full year revenue guidance of ca. EUR 750m,
which is more than USD 1 billion at today's exchange rate, and we have
increased our EBIT margin guidance to ca. 35% for the year.
We continue to see healthy demand in the current quarter, mainly for LED
backlighting and increasingly for LED lighting manufacturing systems,
which, in my opinion, looking ahead at the next 2-3 years, underlines the
very positive outlook for the industry.
With the opening of our new R&D center this month, we plan to even further
strengthen our ability to offer the most competitive and compelling
technology and value propositions to our customers available on the
market.'
Outlook
Reflecting the healthy business development and the current USD/EUR
exchange rate levels, the Executive Board reiterates the 2010 full year
revenue guidance of circa EUR 750m and has decided to increase the EBIT
margin guidance to circa 35%.
Financial Tables
The 9M/2010 results presentation as well as all consolidated financial
statements (income statement, statement of other comprehensive income,
statement of financial position, statement of cash-flows, statement of
changes in equity) relating to this press release are available at
http://www.aixtron.com, section 'Investors/Reports/Presentations', as part
of AIXTRON's Nine Months Financial Report 2010.
Investor Conference Call
AIXTRON will host a financial analyst and investor conference call on
Thursday, October 28, 2010, 3:00 p.m. CEST (6:00 a.m. PDT, 09:00 a.m. EDT)
to review the 9M/2010 results.
From 2:45 p.m. CEST (5:45 a.m. PDT, 8:45 a.m. EDT) you may dial in to the
call at +49 (69) 247 501-899 or +1 (212) 444-0296. A conference call audio
replay or a transcript of the conference call will be available at
http://www.aixtron.com, section 'Investors/Reports/Presentations',
following the conference call.
Contact:
Guido Pickert
Investor Relations and Corporate Communications: T: +49-241-8909-444
F: +49-241-8909-445
invest(at)aixtron.com
For further information on AIXTRON AG (FSE: AIXA, ISIN DE000A0WMPJ6;
NASDAQ: AIXG, ISIN: US0096061041), please consult our website at:
www.aixtron.com.
Forward-Looking Statements
This document may contain forward-looking statements regarding the
business, results of operations, financial condition and earnings outlook
of AIXTRON within the meaning of the safe harbor provisions of the US
Private Securities Litigation Reform Act of 1995. These statements may be
identified by words such as 'may', 'will', 'expect', 'anticipate',
'contemplate', 'intend', 'plan', 'believe', 'continue' and 'estimate' and
variations of such words or similar expressions. These forward-looking
statements are based on our current views and assumptions and are subject
to risks and uncertainties. You should not place undue reliance on these
forward-looking statements. Actual results and trends may differ materially
from those reflected in our forward-looking statements. This could result
from a variety of factors, such as actual customer orders received by
AIXTRON, the level of demand for deposition technology in the market, the
timing of final acceptance of products by customers, the condition of
financial markets and access to financing for AIXTRON, general conditions
in the market for deposition plants and macroeconomic conditions,
cancellations, rescheduling or delays in product shipments, production
capacity constraints, extended sales and qualification cycles, difficulties
in the production process, the general development in the semi-conductor
industry, increased competition, fluctuations in exchange rates,
availability of public funding, fluctuations and/or changes in interest
rates, delays in developing and marketing new products, a deterioration of
the general economic situation and any other factors discussed in any
reports or other announcements field by AIXTRON with the U.S. Securities
and Exchange Commission. Any forward-looking statements contained in this
document are based on current expectations and projections of the executive
board and on information currently available to it and are made as at the
date hereof. AIXTRON undertakes no obligation to revise or update any
forward-looking statements as a result of new information, future events or
otherwise, unless expressly required to do so by law.
Contact:
Investor Relations and Corporate Communications
AIXTRON AG, Kaiserstr. 98, 52134 Herzogenrath, Germany
Phone: +49 241 8909 444, Fax: +49 241 8909 445, invest(at)aixtron.com
www.aixtron.com
28.10.2010 07:25 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: AIXTRON AG
Kaiserstr. 98
52134 Herzogenrath
Deutschland
Phone: +49 (241) 8909-444
Fax: +49 (241) 8909-445
E-mail: invest(at)aixtron.com
Internet: www.aixtron.com
ISIN: DE000A0WMPJ6, US0096061041
WKN: A0WMPJ
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Düsseldorf, Berlin, Stuttgart; Terminbörse EUREX
End of Announcement DGAP News-Service
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Datum: 28.10.2010 - 07:25 Uhr
Sprache: Deutsch
News-ID 32428
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Kategorie:
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