BERLIN (dpa-AFX) - OSRAM Licht AG (OSAGF.PK) reported that its first-quarter net income attributable to shareholders increased to 16 million euros or 0.17 euros per share from last year's 7 million euros or 0.08 euros per share reflecting favorable business momentum.
Net income for the quarter was 7 million euros compared to a loss of 2 million euros in the previous year.
Revenue for the quarter declined to 840 million euros from 873 million euros last year.
As part of ongoing portfolio evaluation, the company said it has decided to start the search process for a new best owner for the DI lighting components business. Meanwhile, OSRAM and ams are working together to complete the business combination, pending court procedures regarding DPLTA registration.
Looking ahead, the company now expects fiscal 2021 comparable revenue growth to be in the range of 10% - 14% and adjusted EBITDA margin of 12% - 15%. Previously, the company expected fiscal 2021 comparable revenue growth to be in the range of 6% - 10%, and adjusted EBITDA margin between 9% and 11%.
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