Amkor Technology Reports Financial Results for the Third Quarter 2016

Third Quarter Highlights

  • Net sales $1.09 billion, 18.4% sequential growth
  • Gross margin 19.7%
  • Net income $60 million, earnings per diluted share $0.25 and EBITDA $248 million
  • Notable strength in mobile communications across multiple tiers
  • Solid sales growth in Automotive, Greater China and advanced SiP

TEMPE, Ariz. — (BUSINESS WIRE) — October 31, 2016 — Amkor Technology, Inc. (NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the third quarter ended September 30, 2016.

"Third quarter results were at the high end of our guidance," said Steve Kelley, Amkor's president and chief executive officer. "We saw notable strength in smartphones across multiple tiers. Sales in Automotive, Greater China and advanced SiP were all up sequentially reflecting the continued success of our strategic initiatives in these key areas. Our 18% sequential growth in sales generated substantial cash and profits for the quarter.”

 
Results       Q3 2016     Q2 2016     Q3 2015
      ($ in millions, except per share data)
Net sales $1,086     $917     $734
Gross margin 19.7% 14.3% 17.2%
Net income (loss) $60 $5 $28
Earnings per diluted share $0.25 $0.02 $0.12
EBITDA* $248 $168 $187
 

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