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Austria's AMS expects impact from coronavirus in Q2 to be limited

Credit: REUTERS/Arnd Wiegmann

Sensor specialist AMS said on Wednesday it expects the impact from the coronavirus in the second quarter to be limited, as it reported first-quarter revenues within the upper half of its own forecast.

VIENNA, April 29 (Reuters) - Sensor specialist AMS AMS.S said on Wednesday it expects the impact from the coronavirus in the second quarter to be limited, as it reported first-quarter revenues within the upper half of its own forecast.

Revenue came in at $501.2 million and adjusted earnings before interest and tax (EBIT) reached $101 million in the three months through March, the Austrian group, which is about to take over German lighting group Osram OSRn.DE, said on Wednesday.

AMS, generating a large chunk of its revenue with sensors for Apple's AAPL.O iPhones, had guided for $480-520 million in revenues in the first quarter and an EBIT margin of 19-21%.

For the second quarter, AMS forecast revenues of $440-480 million and an adjusted operating (EBIT) margin of 17-20%.

(Reporting by Kirsti Knolle, editing by John Miller)

((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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