MUNICH, Germany Automotive chip manufacturer Elmos AG (Dortmund, Germany), has continued its growth in the third quarter. Now the company plans to widen its capacity.
Sales in the third quarter climbed 9.8 percent against the prior-year quarter and reached 45.5 million (about $65.5 million). Net income, adjusted for one-time charges associated with restructuring efforts in two plants, rose 19.4 percent to 3.6 million.
For the year ahead, the company predicts growth rates above market average. Sales will climb between 7 and 9 percent with an EBIT margin between 12 and 14 percent, the company said.
The company plans to convert parts of its existing 150-mm production line to 200-mm in the coming year, enhancing its manufacturing capacities. Nevertheless, capex spending will be lower than in the current year.