Ams AG said Tuesday that its revenue and adjusted profit rose year-on-year amid strong growth in its business for 3D sensing and advanced light sensing.
The Swiss technology company AMS, +4.00% reported adjusted profit of $ 158.9 million in the fourth quarter compared with $ 1.6 million year-on-year, with adjusted profit for the full year reaching $ 331.6 million from $ 11.8 million the previous year.
Revenue for the fourth quarter rose to $ 655.3 million from $ 476.5 million, with revenue for the full year rising to $ 2.09 billion from $ 1.58 billion.
The company reported adjusted earnings before interest and taxes for the quarter of $ 184.3 million compared with $ 60.1 million in the fourth quarter the previous year, while adjusted EBIT for the year increased to $ 433.4 million from $ 141.2 million.
Ams said it expects its business to “continue to perform well” in the first quarter of 2020, adding that it anticipates revenues in the first quarter of between $ 480 million and $ 520 million.
