X-Factor Helps Sensor Maker Ams Defy Stock-Market Slump
February 06 2018 - 07:05AM
Dow Jones News
By Marc Navarro Gonzalez
Shares in ams AG (AMS.EB) climbed Tuesday despite an overall
market drop after the Austrian company reported a significant rise
in its fourth-quarter net profit, driven in part by Apple Inc.
(AAPL) incorporating a 3D sensor in its iPhone X.
The sensor maker said net profit for the period was 102.6
million euros ($127.6 million), more than seven times its EUR13.7
million net profit a year earlier. Revenue jumped to EUR470.3
million compared with EUR133.6 million, ams said.
At 1125 GMT, shares of the Switzerland-listed Austrian company
were trading 9% higher at CHF95.0, with the overall market in
Zurich down 1.8%.
Bryan Garnier said the results were driven by the use of a 3D
sensor in Apple's new iPhone X. Fourth-quarter results were "well
above the street's expectations," Bryan Garnier said. The European
bank said the semiconductor company also provided a "great outlook"
for 2018 and 2019.
Based on higher revenue pipeline visibility, ams has increased
its revenue-growth estimates for 2016-2019 to 60% compound annual
growth rate.
Write to Marc Navarro Gonzalez at
marc.navarrogonzalez@dowjones.com
(END) Dow Jones Newswires
February 06, 2018 06:50 ET (11:50 GMT)
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