Osram Licht AG (OSRn.DE)
Thu, May 3 2018
* SAYS TO FOCUS ON SEMICONDUCTOR-BASED HIGH-TECH PRODUCTS, BUYS 3D IDENTIFICATION SPECIALIST VIXAR
FRANKFURT Shares in German lighting group Osram dropped to a 15-month low on Wednesday after the group cut its 2018 core profit guidance due to "muted" business in the first half of the year and a weak dollar versus the euro.
* Shares drop 11 percent (Recasts, adds share price, analyst comments)
FRANKFURT, April 24 German lighting group Osram stepped up cutbacks and slashed its guidance for adjusted core profit and earnings per share in fiscal 2018, citing a weak dollar and slower business development.
* JOINT VENTURE INVOLVING AROUND 1,500 EMPLOYEES SCHEDULED TO START IN THE SECOND HALF OF 2018
* Q1 adj EBITDA falls less than expected (Recasts with CFO comment on guidance, sales figures)