July 23, 2018 / 4:13 PM / 3 months ago

BRIEF-Ams AG Q2 Adj EBIT Was A Loss Of USD 48.6 Mln

July 23 (Reuters) - ams AG:

* Q2 GROUP REVENUES WERE USD 252.8 MILLION, DOWN 42% SEQUENTIALLY COMPARED TO Q1

* GROUP REVENUES FOR FIRST HALF OF 2018 WERE USD 685.5 MILLION, UP 76% COMPARED TO USD 388.7 MILLION YEAR AGO

* Q2 ADJUSTED EBIT WAS A LOSS OF USD 48.6 MILLION DECREASING FROM USD 1.6 MILLION IN SAME PERIOD 2017

* ADJUSTED NET INCOME FOR Q2 WAS A LOSS OF USD 103.5 MILLION COMPARED TO A LOSS OF USD 20.9 MILLION FOR SAME PERIOD 2017

* FOR Q3 2018, AMS SEES STEEP SEQUENTIAL GROWTH

* EXPECTS Q3 REVENUES TO GROW STRONGLY TO USD 450-490 MILLION, UP 78-94% SEQUENTIALLY AND 46-59% YEAR-ON-YEAR

* DRIVEN BY THESE LARGE SCALE CONSUMER RAMPS, CURRENTLY EXPECTS A RECORD LEVEL OF REVENUES FOR SECOND HALF OF 2018

* ADJUSTED OPERATING MARGIN FOR Q3 IS EXPECTED TO SHOW A SIGNIFICANT SEQUENTIAL INCREASE TO A LOW TEENS PERCENTAGE

* ENDORSES ITS GROWTH TARGET FOR AMS REVENUES OF 60% CAGR FOR 2016-2019 PERIOD

* ALSO ENDORSES REACHING TARGET OF 30% ADJUSTED EBIT MARGIN FOR AMS IN 2020 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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