Ad
Ad
Ad
Components | August 01, 2012

Amkor with Net sales of $687 million

Amkor Technology announced financial results for the second quarter ended June 30, 2012, with net sales of $687 million, net income of $1 million, and earnings per diluted share of $0.00.
"After adjusting for the loss contingency accrual, second quarter results were consistent with our expectations," said Ken Joyce, Amkor's president and chief executive officer. "Amkor's strong position in communications continues to drive our business with notable strength in smartphones and tablets. We also saw a seasonal increase in gaming, although lower than the levels we have seen in the past few years."

Second Quarter 2012

- Net sales $687 million
- Gross margin 13%
- Net income $1 million
- Earnings per diluted share $0.00

Second Quarter 2012 Excluding $34 Million Charge for Loss Contingency Accrual

- Adjusted gross margin 17%
- Adjusted net income $33 million
- Adjusted earnings per diluted share $0.15

Business Outlook

"We expect to see sequential third quarter sales growth of 2% to 9% driven by a seasonal increase in gaming, solid demand for communications, and a continuing recovery in the networking sector,” said Joyce. “Our growth in the third quarter is somewhat slower than anticipated due to worldwide macroeconomic uncertainties, the delay in the ramp of 28 nanometer wafer supply and the softness in end market demand by the less dominant OEMs that sell smartphones and tablets.”

"In light of these developments, we are lowering our full year 2012 capital additions expectations to around $500 million (excluding $100 million for the acquisition of land relating to our previously announced new factory and R&D center in Incheon, South Korea). Our capital additions for the first half of 2012 totaled $273 million, and we are estimating capital additions of around $150 million for the third quarter 2012, although some of that spending could move to the fourth quarter if the ramp of 28 nanometer wafer supply is pushed out," continued Joyce.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
August 13 2017 4:10 PM V8.5.9-2