Ams Says 3Q Revenue, Adjusted EBIT Margin Are at Top End of Guidance
October 27 2020 - 3:23AM
Dow Jones News
By Mauro Orru
Ams AG said Tuesday that revenue and adjusted EBIT margin for
the third quarter are at the top end of guidance, and that it
expects strong business momentum to continue in the fourth
quarter.
The Austrian sensor maker, which is listed in Switzerland, said
preliminary figures excluding acquired business Osram Licht AG
showed third-quarter revenue of $564 million and an adjusted
earnings before interest and taxes margin of 23%, at the top end of
its guidance range of revenue between $530 million and $570 million
and an adjusted EBIT margin of between 21% and 24%.
"These robust results were particularly driven by continued
strength in Ams's consumer business despite the macroeconomic
effects of the Covid-19 pandemic and negative exchange rate
developments in the quarter," Ams said in a statement.
The company guided for fourth-quarter revenue of between $650
million and $690 million for the Ams business, with an adjusted
EBIT margin of between 24% and 27% of revenues.
Ams said it would publish third-quarter results including Osram
Licht on Nov. 6.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 27, 2020 03:08 ET (07:08 GMT)
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