Osram warns of a weak first quarter as it cuts jobs

With no let-up in sight to the financial strains of transforming its business model, of relying on a soft automotive market, and of dealing with global trade wars, Osram warned that its 2019 first quarter will be weak when it reports results in two weeks. It also announced job cuts. In a short statement, the Munich-based company said that operating revenue would fall by 15% on a comparable basis, from €939 million ($107M) in October through December quarter a year ago to €828M ($945M) in its new fiscal year. Osram also warned that its adjusted EBITDA margin will likely take about a 40% hit, coming in at 11.3% compared to 18.5% a year ago.