By Joshua Stein
Shares in Ams AG fell on Tuesday after the Austrian sensor maker reported a lower profit for the fourth quarter of 2020 and released its guidance for the first quarter.
Ams reported a quarterly net profit of $41 million compared with $171 million in the same period last year. Quarterly revenue rose to $1.68 billion from $705 million. The earnings include the results of Osram Licht AG, which it has consolidated since July last year.
At 1049 GMT, AMS shares were trading down 7.1% at CHF22.91.
Revenue in 2020 increased to $4.17 billion from $2.24 billion the previous year, driven by the consolidation of Osram and the performance of the company's consumer business, the company said.
For the first quarter of this year, the company expects its ams business to post revenue of between $500 million and $540 million, which would be an increase of 4% year-on-year at the midpoint, with an adjusted operating margin of 20%-22%.
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(END) Dow Jones Newswires