REUTERS - Chipmaker AMS, a supplier of components to companies such as Apple and Samsung Electronics, reported third-quarter revenue at the low end of its own forecast but higher year-on-year, thanks to a sharp increase in demand for its optical sensors.
AMS said its quarterly revenue rose 79 percent on a year ago to 262.6 million euros ($309 million), compared with a forecast range of between 260 million euros and 290 million.
The company said it expects a robust fourth quarter, with revenue of between 440 million euros and 480 million, and an adjusted EBIT margin of 26 to 29 percent.
The company said it had seen strong growth in demand for the optical sensors it makes that help adjust the brightness and colours on smartphone screens.
The iPhone components supplier also reported a quarterly net profit of 20.2 million euros compared with 55.9 million a year earlier and reiterated its mid-term growth targets, published in July.
AMS also said it had initiated the formation of an independent software services company to boost software development for its sensor offerings.
($1 = 0.8511 euros)
Reporting by Anna Serafin; Editing by David Holmes