Amkor posts record sales in Q3

"We delivered record sales this quarter, driven by gains in the mobile device market," said Steve Kelley, Amkor's president and chief executive officer. "Sales grew 6% sequentially and year-over-year, following 10% sequential growth in the second quarter. We had expected even stronger growth in Q3, but fell short of our goal, primarily due to reduced demand for high-end Android smartphones." Net Sales amounted to USD 813 million, up 6% from USD 767 million in the prior quarter, and up 6% from USD 768 million in the third quarter of 2013. Gross Margin: hit 18.8%, compared to 19.6% in the prior quarter, and adjusted gross margin of 19.7% in the third quarter of 2013. Net Income ended at USD 47 million, compared to net income of USD 50 million in the prior quarter, and adjusted net income of USD 35 million in the third quarter of 2013. Second quarter 2014 net income includes a net gain of USD 18 million related to the sale of a subsidiary to J-Devices.