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Ams Swung to 2Q Loss on Impairment Charge

07/30/2021 | 01:56am EDT

By Cecilia Butini

Ams AG on Friday posted a loss for the second quarter as a result of an impairment charge related to manufacturing assets in Asia in its semiconductors consumer business.

The Austrian sensor maker, which is listed in Switzerland, said the loss amounted to $190 million for the quarter compared with a profit of $6 million in the same period the year prior.

Revenue rose on year to $1.49 billion from $503 million the previous year.

For the third quarter, the company said it expects group revenue to be between $1.45 billion and $1.55 billion, with an expected adjusted operating margin of 8% to 11%.

Ams said the generation of synergies from the combination with Osram Licht AG--of which it now owns 80.4%--is fully on track.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

07-30-21 0356ET

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