By Cecilia Butini
Ams AG said Friday that it posted a loss in the third quarter due to acquisition, restructuring and share-based compensation costs.
The Austrian technology company said net loss for the period amounted to $101 million, compared with a profit of $166 million in the same quarter of 2019.
Group revenue for the quarter rose to $1.43 billion from $679 million the previous year.
Group earnings include Osram Licht AG, which was fully consolidated into the company's business as of the beginning of the third quarter, Ams said.
Considering only the Ams business, revenue for the quarter fell to $564 million, which nears the top end of previously given guidance of $530 million to $570 million.
The company expects robust sequential growth in the fourth quarter for the Ams business despite the continued effects of the coronavirus pandemic on economies and markets.
Ams expects revenue to come in between $650 million and $690 million for the fourth quarter.
Write to Cecilia Butini at email@example.com
(END) Dow Jones Newswires