Amkor Reports First Quarter 2008 Results

Our net income guidance includes an estimated $9.7 million gain, with no net tax effect, from a real estate transaction that closed in April 2008.

Amkor will conduct a conference call on April 30, 2008 at 5:00 p.m. eastern time. The call can be accessed by dialing 303-205-0033, or by visiting the investor relations page of our website: www.amkor.com or CCBNs website: www.companyboardroom.com. An archive of the webcast can be accessed through the same links, and will be available until our next quarterly earnings conference call. An audio replay of the call will be available for 48 hours following the conference call by dialing 303-590-3000 passcode: 11110795.

About Amkor

Amkor is a leading provider of semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronics design and manufacturing services. More information on Amkor is available from the companys SEC filings and on Amkors website: www.amkor.com.

Forward Looking Statement Disclaimer

This press release contains forward-looking statements within the meaning of federal securities laws. All statements other than statements of historical fact are considered forward looking statements including, without limitation, statements regarding the following: our stability within a challenging economy; our anticipated revenue growth; our anticipated level of debt repayment in 2008; our focus on continuing a disciplined approach to capital spending; our expectations regarding capital intensity and the allocation of capital expenditures among our businesses; the expected dollar amount of our capital additions and the focus of our capital spending; the timing of our capital spending during the year; expectations regarding our effective tax rate for 2008; and the statements regarding sales, gross margin and net income per diluted share contained under Business Outlook. These forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could affect future results and cause actual results and events to differ materially from historical and expected results and those expressed or implied in the forward looking statements, including, but not limited to, the following: the highly unpredictable nature of the semiconductor industry; inability to achieve high capacity utilization rates; volatility of consumer demand for products incorporating our semiconductor packages; weakness in the forecasts of Amkors customers; customer modification of and follow through with respect to forecasts provided to Amkor; curtailment of outsourcing by our customers; our substantial indebtedness and restrictive covenants; failure to realize sufficient cash flow to fund capital expenditures; deterioration of the U.S. or other economies; the highly unpredictable nature and costs of litigation and other legal activities and the risk of adverse results of such matters, including our litigation with Tessera; the outcome of the pending SEC investigation; worldwide economic effects of terrorist attacks, natural disasters and military conflict; competitive pricing and declines in average selling prices; timing and volume of orders relative to production capacity; fluctuations in manufacturing yields; competition; dependence on international operations and sales; dependence on raw material and equipment suppliers and changes in raw material costs; exchange rate fluctuations; dependence on key personnel; difficulties in managing growth; enforcement of intellectual property rights; environmental and other governmental regulations; and technological challenges.

Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect our operating results and financial condition are discussed in the companys Annual Report on Form 10-K for the year ended December 31, 2007 and in the companys subsequent filings with the Securities and Exchange Commission made prior to or after the date hereof. Amkor undertakes no obligation to review or update any forward looking statements to reflect events or circumstances occurring after the date of this press release.

AMKOR TECHNOLOGY, INC.

Selected Operating Data

 
Sales Data: Q1 2008 Q4 2007 Q1 2007
 
Packaging services:
Wirebond - Leadframe 29 % 31 % 32 %
Wirebond - Laminate 40 % 40 % 38 %
Flip chip and wafer level processing   19 %   18 %   19 %
Packaging services 88 % 89 % 89 %
Test services   12 %   11 %   11 %
Total Sales   100 %   100 %   100 %
 
Packaged units (in billions) 2.2 2.4 2.0
Net sales from top ten customers 50 % 49 % 44 %
Capacity utilization 80 % 86 % 75 %
 

End Market Distribution Data (an approximation based on sampling of our largest customers):

Communications 41 % 40 % 38 %
Consumer 32 % 34 % 32 %
Computing 17 % 17 % 20 %
Other   10 %   9 %   10 %
Total   100 %   100 %   100 %
 
Earnings per Share Data: Q1 2008 Q4 2007 Q1 2007
(in millions)
 

Net income

$ 72 $ 94 $ 35

Adjustment for dilutive securities on net income:

Interest on 2.5% convertible notes due 2011, net of tax

1 1 1
Interest on 6.25% convertible notes due 2013, net of tax   2     2     1  
Net income - diluted $ 75   $ 97   $ 37  
 
Weighted average shares outstanding - basic 182 182 179
Effect of dilutive securities:
Stock options 1 1 2
2.5% convertible notes due 2011 13 13 13
6.25% convertible notes due 2013   13     13     13  
Weighted average shares outstanding - diluted   209     209     207  
 
Q1 2008 Q4 2007 Q1 2007
(in millions)
Capital Investment Data:
Capital additions $ 95 $ 101 $ 55
Net change in related accounts payable and deposits   (6 )   (25 )   (4 )
Payments for property, plant and equipment $ 89   $ 76   $ 51  
Depreciation and amortization $ 74 $ 72 $ 71
 
Free Cash Flow Data:
Net cash provided by operating activities $ 181 $ 189 $ 123
Less payments for property, plant and equipment   (89 )   (76 )   (51 )
Free cash flow* $ 92   $ 113   $ 72  

« Previous Page 1 | 2 | 3 | 4  Next Page »



Review Article Be the first to review this article
CST: Webinar

Aldec Simulator Evaluate Now

Featured Video
Jobs
Senior DSP Firmware Engineer for Cirrus Logic, Inc. at Austin, TX
ASIC Hardware Engineer for BAE Systems Intelligence & Security at Arlington, VA
RF IC Design Engineering Manager for Intel at Santa Clara, CA
ASIC Design Engineer for Infinera Corp at Sunnyvale, CA
Acoustic Systems Test Engineer for Cirrus Logic, Inc. at Austin, TX
Upcoming Events
Essentials of Electronic Technology: A Crash Course at Columbia MD - Jan 16 - 18, 2018
Essentials of Digital Technology at MD - Feb 13 - 14, 2018
IPC APEX EXPO 2018 at San Diego Convention Center San Diego CA - Feb 24 - 1, 2018
CST: Webinar series



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise