By Mauro Orru 

Ams AG said Tuesday that revenue and adjusted EBIT margin for the third quarter are at the top end of guidance, and that it expects strong business momentum to continue in the fourth quarter.

The Austrian sensor maker, which is listed in Switzerland, said preliminary figures excluding acquired business Osram Licht AG showed third-quarter revenue of $564 million and an adjusted earnings before interest and taxes margin of 23%, at the top end of its guidance range of revenue between $530 million and $570 million and an adjusted EBIT margin of between 21% and 24%.

"These robust results were particularly driven by continued strength in Ams's consumer business despite the macroeconomic effects of the Covid-19 pandemic and negative exchange rate developments in the quarter," Ams said in a statement.

The company guided for fourth-quarter revenue of between $650 million and $690 million for the Ams business, with an adjusted EBIT margin of between 24% and 27% of revenues.

Ams said it would publish third-quarter results including Osram Licht on Nov. 6.


Write to Mauro Orru at; @MauroOrru94


(END) Dow Jones Newswires

October 27, 2020 03:08 ET (07:08 GMT)

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