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© ingrid prats dreamstime.com Components | October 26, 2012

Amkor with net sales of USD 695 million

Amkor Technology, Inc. reported net sales of USD 695 million and a net income of USD22 million for 3Q/2012 (ended September 30, 2012).
"Solid demand for wireless communications in both packaging and test was the key driver of our business in the third quarter," said Ken Joyce, Amkor's president and chief executive officer. "Lower than anticipated supply of 28 nanometer wafers in the early part of the quarter and the overall weakness in the semiconductor market and general economy constrained our growth."

Information of 3Q/2012
  • Net Sales: $695 million, up 1% from $687 million in the prior quarter, and down 6% from $740 million in the third quarter of 2011
  • Gross Margin: 17%, compared to adjusted gross margin of 17% in the prior quarter, and 17% in the third quarter of 2011
  • Net Income: $22 million, down from adjusted net income of $33 million in the prior quarter, and down from $27 million in the third quarter of 2011
  • Earnings Per Diluted Share: $0.11, down from adjusted earnings per diluted share of $0.15 in the prior quarter, and flat with $0.11 in the third quarter of 2011

“Capital additions were $173 million during the third quarter, primarily in support of customers in smartphones and tablets,” said Joanne Solomon, Amkor's executive vice president and chief financial officer. "We accelerated the purchase of some 28 nanometer test equipment to meet the ramp in demand for communications at the end of the quarter. Capital additions for the year are expected to remain around $500 million as we continue to support the growing demand for communications in the fourth quarter and beyond."

Business Outlook for 4Q/2012
  • Net sales of $675 million to $725 million, down 3% to up 4% from the prior quarter
  • Gross margin of 16% to 19%
  • Net income of $11 million to $35 million, or $0.07 to $0.16 per diluted share

“We expect solid growth in wireless communications in the fourth quarter of 2012 as our investment in this market continues to gain momentum,” noted Joyce. “The anticipated growth in communications during the quarter is expected to offset the general softening in demand we see in the other end markets due to the weak and uncertain macroeconomic environment and the normal seasonal decline in gaming."

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