Osram Cuts Earnings and Sales Forecast - Energy Watch News


Osram Cuts Earnings and Sales Forecast

The elephant came to the front of the IoT lighting room, as Osram warned that fiscal year 2018 revenue will grow only about half as much as previously forecast, hitting earnings and forcing layoffs that the company hopes to eventually reverse by recasting its workforce into a more high-tech gearing. The world’s second-largest lighting company said that revenue for the year that ends Sept. 30 will now increase by 3–5%, down from its earlier guidance of 5.5–7.5%, based on current exchange rates. It lowered its forecast for adjusted EBITDA by around 9%, to about US$779.4 million from $852.4 million. The downward adjustment was a reminder that the lighting industry’s attempt to transform itself from an illumination provider into an industry that establishes the lighting infrastructure as the backbone to data communications networks — making lights indispensable “things” within the Internet of Things — will not come easy. http://www.ledsmagazine.com/articles/2018/04/osram-cuts-earnings-and-sales-forecast.html

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