Amkor Technology Reports Financial Results for the Fourth Quarter and Full Year 2016

Full Year 2016 Highlights:

  • Record sales $3.9 billion
  • Gross margin 17.9%
  • Net income $164 million, earnings per diluted share $0.69, EBITDA $852 million, net cash provided by operating activities $729 million and free cash flow $140 million
  • Successful consolidation of J-Devices
  • Notable second-half strength in mobile communications across multiple tiers
  • Solid sales growth in automotive, Greater China and advanced SiP

TEMPE, Ariz. — (BUSINESS WIRE) — February 13, 2017 — Amkor Technology, Inc. (NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the fourth quarter and full year ended December 31, 2016.

“Fourth quarter revenues were up $350 million year-over-year. For the full year, revenues were up $1 billion,” said Steve Kelley, Amkor’s president and chief executive officer. “The consolidation of J-Devices and the success of our automotive, Greater China and advanced SiP initiatives fueled the growth in revenue, which in turn drove significantly improved profitability and cash flow.”

                   
Results**     Q4 2016     Q3 2016     Q4 2015     2016     2015
($ in millions, except per share amounts)
Net sales $1,022 $1,086 $671 $3,894 $2,885
Gross margin 22.2% 19.7% 15.3% 17.9% 16.6%
Net income (loss) $100 $60 $(11) $164 $51
Earnings per diluted share $0.42 $0.25 $(0.04) $0.69 $0.22
EBITDA* $280 $248 $130 $852 $659

Net cash provided by operating activities

$238 $219 $154 $729 $585
Free cash flow* $117 $106 $(29) $140 $54
 

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