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BRIEF-AMS reports Q1 revenues at 149.3 mln euros
April 24, 2017 / 4:10 PM / 7 months ago

BRIEF-AMS reports Q1 revenues at 149.3 mln euros

April 24 (Reuters) - AMS AG:

* Expects sequential revenue growth for Q2 2017 with revenues of 174-181 million euros and adjusted operating margin around break-even

* Q1 group revenues were 149.3 million euros ($161.93 million), above upper end of ams’ previous guidance, up 12% sequentially compared to Q4 and increasing 9% from eur 137.2 million in same quarter 2016

* On a constant currency basis, q1 revenues were up 6% compared to q1 last year

* Excluding Heptagon business, q1 revenues were slightly up sequentially compared to q4 2016, which was also above previous guidance

* Adjusted EBIT (excluding acquisition-related and share-based compensation costs) for Q1 was 4.1 million euros or 3% of revenues which was above previous guidance, decreasing from 28.2 million euros in same period 2016

* Excluding Heptagon business, Q1 adjusted EBIT margin stood at 14%, which was well above previous guidance

* Net result for Q1 was -16.2 million euros compared to 13.6 million euros in same period last year

* Ams is receiving positive market feedback on acquisition of Princeton Optronics which ams announced in quarter

* Expects significant high volume ramp-ups in its consumer business in second half of 2017

* Ams’ preparation for these growth opportunities is fully on track and related activities are progressing to plan

* Is seeing significantly increased customer forecasts and a higher revenue pipeline for 2017 and particularly 2018 while ams is adding new projects and additional design-wins

* Now expects group capital expenditures of around 400-450 million euros in 2017

* Ams’ mid-term revenue growth target is currently under upward revision Source text for Eikon: Further company coverage: ($1 = 0.9220 euros) (Gdynia Newsroom)

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