AT&S Rises After Smartphone Circuits Lift Profit: Vienna Mover
AT&S Austria Technologie & Systemtechnik AG (ATS), the Austrian circuit-board maker, rose the most in seven weeks after profit jumped on demand for products it makes for smartphones.
Shares rose as much as 8.5 percent in Vienna, the most since Sept. 18, and traded at 7.52 euros at 11:38 a.m. local time. The stock has gained 16 percent over the last year, giving the Leoben, Austria-based company a market value of 292 million euros ($391.8 million).
“Because of the rising complexity of smartphones, more and more clients are asking for high-end circuit boards,” Daniel Lion, a Vienna-based analyst at Erste Group Bank AG, said via telephone. “This has a positive effect on the product mix of AT&S and boosts its profitability.”
AT&S, whose clients include most of the world’s biggest smartphone makers, said late yesterday that first-half net income jumped more than 10-fold to 22 million euros after sales climbed 18 percent to 300 million euros. The company reiterated it expects full-year fiscal 2014 sales to grow five percent.
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