AIXTRON AG / Quarter Results/Forecast
08.05.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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AIXTRON with strong orders and revenues in Q1/2008 / Q1/2008 Revenues reach
EUR 62.6 million / Q1/2008 EBIT at EUR 8.7m, 14% Margin / Q1/2008 Order
Intake remains high at EUR 85.5m / Guidance for Full Year 2008 of EUR
270-300m Revenues and 10-12% EBIT reiterated
Aachen, Germany, May 8, 2008 AIXTRON AG, worldwide leading provider of
deposition equipment to the semiconductor industry, today announced
financial results for the first three months, ended March 31, 2008.
Key Financials<pre>
2008 2007 Change
(million ) Q1 Q1
Revenues 62.6 63.8 -2%
Gross profit 24.5 24.2 1%
Gross margin, % revenues 39% 38% 1 p.p.
EBIT 8.7 8.2 6%
EBIT, % revenues 14% 13% 1 p.p.
Net result 5.9 7.6 -22%
Net result, % revenues 9% 12% -3 p.p.
Net result per share - basic () 0.07 0.09 -22%
Net result per share - diluted () 0.07 0.09 -22%
Free cash flow 12.9 -6.1
Equipment Order Intake 85.5 40.5 111%
Equipment Order Backlog (End of Period) 157.3 70.0 125%</pre>
Operative Highlights
In the first Quarter of 2008, AIXTRON delivered total revenues of EUR
62.6m, a marginal decrease of 2% year-on-year (Q1/ 2007: EUR 63.8m).
Reflecting the further increasing percentage of common platform system
revenues, paired with a favorable product mix both offsetting the negative
effect of a weak US-Dollar against the Euro, the gross margin improved by 1
percentage point year-on-year, culminating in a 39 percent gross margin
performance by the end of first Quarter 2008. AIXTRONs Q1/2008 EBIT figure
is EUR 8.7m, 6% up compared to EUR 8.2m year-on-year. In Q1/2008, AIXTRON
reports a net result of EUR 5.9m down from EUR 7.6m year-on-year, mainly
due to a higher tax rate following consistently positive results. The free
cash flow improved from negative -6.1 to 12.9m in Q1/2008, the positive
development being mainly due to a higher operating cash flow. The equipment
order intake increased significantly in Q1/2008 by 111% to EUR 85.5m
compared to EUR 40.5m in Q1/2007. Order backlog stood at EUR 157.3m at the
end of the first Quarter of 2008, a 125 percent increase compared with
Q1/2007 (EUR 70.0m).
Management Review
Paul Hyland, President & Chief Executive Officer at AIXTRON, comments: 'I
am very pleased to report another quarter with a very high order intake
figure reflecting the strong demand mainly for equipment to produce LEDs
for emerging backlighting applications. As reported before and as expected,
we have seen some evidence of softening in inquiry levels, which lead us to
believe that we are probably at the apex of the current demand cycle.
However, speaking at the mid way point in Q2, we already have a positive
view of the Order Intake development in this quarter. This is a very
encouraging start to what we are projecting to become one of the most
successful years in the companys 25 year history.'
Outlook
Following the continued positive revenue and EBIT development, AIXTRON
management reiterated the full year 2008 guidance of EUR 270m-300m revenues
and an EBIT Margin of 10-12% for the calendar year.
Financial Tables
The consolidated interim financial statements (balance sheet, income
statement, cash flow statement, statement of changes in equity) relating to
this press release are available on www.aixtron.com, section 'Investors',
subsection 'Financial Data', subsection 'Reports', as part of AIXTRONs
Group interim report for the first three months ended March 31, 2008.
Investor Conference Call
AIXTRON will host a financial analyst and investor conference call on
Thursday, May 8th, 2008, 3:00 p.m. CEST (6:00 a.m. PDT, 9:00 a.m. EDT) to
review the first quarter 2008 results. From 2:45 p.m. CET (5:45 a.m. PDT,
8:45 a.m. EDT) you may dial in to the call at +49 (30) 86871799. Both a
conference call audio replay and a transcript of the conference call will
be available at http://www.aixtron.com, section 'investors', following the
conference call.
Contact:
Guido Pickert
Investor Relations and Corporate Communications:
T: +49-241-8909-444
F: +49-241-8909-445
invest@aixtron.com
For further information on AIXTRON AG (FSE: AIX, ISIN DE0005066203; NASDAQ:
AIXG, ISIN US0096061041) please consult our website at: www.aixtron.com.
Forward-Looking Statements
This news release may contain forward-looking statements about the
business, financial condition, results of operations and earnings outlook
of AIXTRON within the meaning of the 'safe harbor' provisions of the United
States Private Securities Litigation Reform Act of 1995. Words such as
'may', 'will', 'expect', 'anticipate', 'contemplate', 'intend', 'plan',
'believe', 'continue' and 'estimate', and variations of these words and
similar expressions, identify these forward-looking statements. The
forward-looking statements reflect our current views and assumptions and
are subject to risks and uncertainties. You should not place undue reliance
on the forward-looking statements. The following factors, and others which
are discussed in AIXTRONs public filings and submissions with the U.S.
Securities and Exchange Commission, are among those that may cause actual
and future results and trends to differ materially from our forward-looking
statements: actual customer orders received by AIXTRON; the extent to which
chemical vapor deposition, or CVD, technology is demanded by the market
place; the timing of final acceptance of products by customers; the
financial climate and accessibility of financing; general conditions in the
thin film equipment market and in the macro-economy; cancellations,
rescheduling or delays in product shipments; manufacturing capacity
constraints; lengthy sales and qualification cycles; difficulties in the
production process; changes in semiconductor industry growth; increased
competition; exchange rate fluctuations; availability of government
funding; variability and availability of interest rates; delays in
developing and commercializing new products; general economic conditions
being less favorable than expected; and other factors. The forward-looking
statements contained in this news release are made as of the date hereof
and AIXTRON does not assume any obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, unless required by law.
Contact:
Investor Relations and Corporate Communications
AIXTRON AG, Kackertstr. 1517, 52072 Aachen, Germany
Phone: +49 241 8909 444, Fax: +49 241 8909 445, invest@aixtron.com
www.aixtron.com
DGAP 08.05.2008
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Language: English
Issuer: AIXTRON AG
Kackertstr. 15-17
52072 Aachen
Deutschland
Phone: +49 (0)241 8909-444
Fax: +49 (0)241 8909-40
E-mail: invest@aixtron.com
Internet: www.aixtron.com
ISIN: DE0005066203, US0096061041
WKN: 506620
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) Nasdaq
End of News DGAP News-Service
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DGAP-News: AIXTRON with strong orders and revenues in Q1/2008
| Source: EQS Group AG