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Chipmaker AT&S Sees Profitability Growth on Strong Demand

VIENNA, Aug 4 (Reuters) - Austrian chipmaker AT&S on Tuesday reported a 13.2% increase in its first-quarter core profit and forecast profitability to increase in the second quarter thanks to strong demand from smartphone makers.

Earnings before interest, tax, depreciation and amortisation (EBITDA) reached 39.5 million euros ($46.5 million) on revenues of 247.9 million euros in the April-June period.

The company, which produces circuit boards for smartphones and tablets and supplies firms such as Apple, Intel and major European auto suppliers, expects its EBITDA margin to grow to 20% to 25% in the second quarter from 15.9% in the first quarter.

$1 = 0.8498 eurosReporting by Kirsti Knolle; editing by Thomas Seythal

Source: Reuters

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