TEMPE, Ariz. — (BUSINESS WIRE) — July 31, 2023 — 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, 2023.
Second Quarter 2023 Highlights
- Net sales $1.46 billion
- Gross profit $187 million, operating income $76 million
- Net income $64 million, earnings per diluted share $0.26
- EBITDA $245 million
“Amkor’s second quarter performance was in line with our expectations, with demand for Advanced packaging solutions driving sequential growth in both the Computing and Consumer end markets,” said Giel Rutten, Amkor’s president and chief executive officer. “With our technology leadership and broad geographic footprint, Amkor is outperforming the industry and is well positioned to capitalize on the industry megatrends that we expect to propel growth beyond the current cycle.”
Quarterly Financial Results
($ in millions, except per share data) |
|
Q2 2023 |
|
Q1 2023 |
|
Q2 2022 |
Net sales |
|
$1,458 |
|
$1,472 |
|
$1,505 |
Gross margin |
|
12.8% |
|
13.2% |
|
16.6% |
Operating income |
|
$76 |
|
$69 |
|
$143 |
Operating income margin |
|
5.2% |
|
4.7% |
|
9.5% |
Net income attributable to Amkor |
|
$64 |
|
$45 |
|
$125 |
Earnings per diluted share |
|
$0.26 |
|
$0.18 |
|
$0.51 |
EBITDA (1) |
|
$245 |
|
$229 |
|
$302 |
(1) EBITDA is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under “Selected Operating Data.”
At June 30, 2023, total cash and short-term investments was $1.2 billion, and total debt was $1.1 billion.
The company paid a quarterly dividend of $0.075 per share on June 26, 2023. 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 2023 (unless otherwise noted):
- Net sales of $1.725 billion to $1.825 billion
- Gross margin of 13.5% to 15.5%
- Net income of $90 million to $130 million, or $0.36 to $0.53 per diluted share
- Full year 2023 capital expenditures of approximately $750 million
Conference Call Information
Amkor will conduct a conference call on Monday, July 31, 2023, 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.
About Amkor Technology, Inc.
Amkor Technology, Inc. is one of the world’s largest providers of outsourced semiconductor packaging and test services. Founded in 1968, Amkor pioneered the outsourcing of IC packaging and test and is now a strategic manufacturing partner for the world’s leading semiconductor companies, foundries and electronics OEMs. Amkor’s operational base includes production facilities, product development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the USA. For more information visit
amkor.com .
