EANS-Adhoc
ams AG / ams reports first quarter results in guidance range reflecting customer volume effects, revenues up 147% year-on-year; expected second quarter revenues strongly impacted by
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Key financial data for first quarter 2018
Quarterly Report
23.04.2018
Premstaetten - (PR title cont'd) ... accelerated customer product transition;
significant second quarter capacity under-utilization as product changes in
major consumer program prevent pre-production; on track for expected major
second half ramp-ups; Annual Report 2017 published
Premstaetten, Austria (23 April 2018) -- ams AG (SIX: AMS), a leading worldwide
supplier of high performance sensor solutions, reports first quarter results
with revenues and operating profitability in guidance range reflecting customer
volume effects, and revenues up 147% year-on-year. ams expects a significant
short-term impact from strongly accelerated customer-driven product transitions
related to large smartphone programs in the second quarter resulting in expected
revenues of USD 220-250 million. Due to these product transitions and product
changes in a major consumer program preventing a pre-production of parts, ams
also expects a significant under-utilization of capacity in the second quarter
leading to a negative adjusted operating margin. At the same time, preparations
for expected major ramp-ups in the second half 2018 are on track.
First quarter group revenues were USD 452.7 million, in the lower half of our
previous guidance, up 147% from USD 183.5 million in the same quarter 2017 and
22% lower sequentially compared to the previous quarter. Adjusted gross margin
for the first quarter 2018 was 36% (excluding acquisition-related and share-
based compensation costs), compared to 44% in the same quarter 2017 (33%
including acquisition-related and share-based compensation costs, compared to
40% in the same period 2017).
The adjusted result from operations (EBIT) for the first quarter was USD 77.3
million or 17% of revenues in line with previous guidance (excluding
acquisition-related and share-based compensation costs), up strongly from USD
5.0 million or 3% of revenues in the first quarter 2017 (USD 46.5 million or 10%
of revenues including acquisition-related and share-based compensation costs,
compared to USD -16.9 million or -9% of revenues in the first quarter 2017).
Adjusted net income for the first quarter was USD 99.9 million (excluding
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