Loss-making AMS positive on consumer markets
The company made an adjusted net loss of US$9.5 million in 1Q19 compared to net income of US$92.3 million for the same period 2018.
Driven largely by its consumer business AMS performed well despite subdued end-market environments in addition to the seasonality of the consumer market, which tends to have quiet first quarters and strong second halves in each calendar year.
AMS is a leading supplier of 3D sensing including VCSEL (Vertical Cavity Surface-Emitting Laser)-based illumination as well as structured light (SL), time-of-flight (iToF), and active stereo vision (ASV) detection. AMS is now set to benefit from anticipated positive momentum for wider adoption of 3D sensing. AMS reported the start of Android smartphone launches that include the firm’s 3D technology in the first quarter. AMS said it expects additional 3D sensing-enabled Android devices with ams 3D illumination to be launched over the course of 2019.
AMS’ automotive, industrial and medical businesses showed moderate performance in line with expectations.
AMS said that it has implemented a series of cost cutting measures in its Singapore operations since the beginning of the year but that the volumes of VCSEL AMS anticipates being required will be supported by the outsourced supply chain.
Meanwhile the internal VCSEL production line in Singapore intended for differentiated designs is on course for production to start around the end of year, AMS said.
AMS said it expects 2Q19 revenues of between US$390 million and $430 million, which represents an increase of 62 percent at the mid-point.
Related links and articles: