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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.