TEMPE, Ariz. — (BUSINESS WIRE) — August 1, 2022 — Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the second quarter ended June 30, 2022.
Second Quarter 2022 Highlights
- Net sales $1.5 billion
- Net income $125 million, earnings per diluted share $0.51
- EBITDA $302 million
“Amkor delivered record second quarter revenue of $1.5 billion. Demand for Advanced packaging solutions remained strong and drove our Automotive & Industrial end market to 16% year-on-year growth and a new record,” said Giel Rutten, Amkor’s president and chief executive officer. “We have returned to normal output levels in Shanghai after a government mandated COVID-19 lockdown, and our global factory network is prepared to support the growth expected in the second half of the year.”
Quarterly Financial Results
($ in millions, except per share data) |
|
Q2 2022 |
|
Q1 2022 |
|
Q2 2021 |
Net sales |
|
$1,505 |
|
$1,597 |
|
$1,407 |
Gross margin |
|
16.6% |
|
20.4% |
|
19.4% |
Operating income |
|
$143 |
|
$210 |
|
$155 |
Operating income margin |
|
9.5% |
|
13.2% |
|
11.0% |
Net income attributable to Amkor |
|
$125 |
|
$171 |
|
$126 |
Earnings per diluted share |
|
$0.51 |
|
$0.69 |
|
$0.51 |
EBITDA (1) |
|
$302 |
|
$363 |
|
$295 |
(1) |
EBITDA is a non-GAAP financial measure. The reconciliation to the most directly comparable GAAP financial measure is included below under “Selected Operating Data.” |
At June 30, 2022, total cash and short-term investments was $1.1 billion, and total debt was $1.1 billion.
The company paid a quarterly dividend of $0.05 per share on June 27, 2022. The declaration and payment of future dividends, as well as any record and payment dates, are subject to the approval of the Board of Directors.
Business Outlook
The following information presents Amkor’s guidance for the third quarter 2022 (unless otherwise noted):
- Net sales of $1.88 billion to $1.98 billion, a sequential increase of 25% to 32% and a year-on-year increase of 12% to 18%
- Gross margin of 19.0% to 21.0%
- Net income of $200 million to $250 million, or $0.82 to $1.02 per diluted share
- Full year 2022 capital expenditures of approximately $950 million
Conference Call Information
Amkor will conduct a conference call on Monday, August 1, 2022, at 5:00 p.m. Eastern Time. This call may include material information not included in this press release. To access the live audio webcast and the accompanying slide presentation, visit the Investor Relations section of Amkor’s website, located at
ir.amkor.com . The live call can also be accessed by dialing 1-877-407-4019 or 1-201-689-8337.
