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Ams AG Q4 Adj. Profit Surges, Revenues Up 38% - Quick Facts

Austrian sensor manufacturer ams AG on Tuesday reported that its adjusted net income for the fourth quarter of 2019 was $158.9 million, up sharply from $1.6 million in the year-ago period. Adjusted earnings per share for the fourth quarter were $1.78, compared to $0.02 per share in the prior-year quarter.

Revenues for the fourth quarter grew 38 percent to $655.3 million from $476.5 million in the same quarter of the previous year, and were above the company's guidance range.
This growth was particularly driven by ams' consumer business including 3D sensing and advanced light sensing in the second half of 2019.

Looking ahead to the first quarter, ams expects revenues of $480 million to $520 million with significantly improved profitability year-on-year.

The outlook reflects less pronounced first-quarter consumer market seasonality as well as revenue deconsolidation and assuming no meaningful negative impact from coronavirus infections.

The company expects adjusted operating or EBIT margin for the first quarter to be 19 percent to 21 percent, reflecting ongoing operational efficiencies in manufacturing and showing a very significant improvement year-on-year.

Looking forward and based on current information, ams expects another year of business growth for 2020.

ams noted that in December 2019, it was successful with an all-cash public tender offer for Osram Licht AG (OSAGF.PK).

The company said it is pursuing the acquisition of Osram as a highly compelling and complementary strategic transaction with the aim to create a global leader in sensor solutions and photonics.

The acquisition of Osram is progressing as expected with regulatory approval proceedings underway and the legal basis for implementing the planned rights issue in place, the company noted.

Encouraged by the constructive relationship with Osram and overwhelming positive feedback on the strategic merits of the transaction, ams expects to successfully close the transaction as envisaged.

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