"Better than expected gross profit and EPS were driven primarily by improved operating leverage," said Megan Faust, Amkor’s CFO. "We also completed a debt refinancing which will generate annual interest savings of approximately $11 million."
Business Outlook
Fourth quarter 2018 outlook (unless otherwise noted):
- Net sales of $1.02 billion to $1.10 billion
- Gross margin of 13% to 15%
- Net income of $5 million to $34 million, or $0.02 to $0.14 per diluted share
- Full year capital expenditures of approximately $600 million
Conference Call Information
Amkor will conduct a conference call on Monday, October 29, 2018, at 5:00 p.m. Eastern Time. This call may include material information not included in this press release. This call is being webcast and can be accessed at Amkor's website: www.amkor.com. You may also access the call by dialing 1-877-645-6380 or 1-404-991-3911. A replay of the call will be made available at Amkor's website or by dialing 1-855-859-2056 or 1-404-537-3406 (conference ID 8196238). The webcast is also being distributed over NASDAQ OMX's investor distribution network to both institutional and individual investors. Institutional investors can access the call via NASDAQ OMX's password-protected event management site, Street Events ( www.streetevents.com).
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 more than 250 of 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 www.amkor.com.
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AMKOR TECHNOLOGY, INC. |
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Selected Operating Data |
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| Q3 2018 | Q2 2018 | Q3 2017 | ||||||||||
| Net Sales Data: | ||||||||||||
| Net sales (in millions): | ||||||||||||
| Advanced products* | $ | 582 | $ | 496 | $ | 563 | ||||||
| Mainstream products** | 562 | 570 | 586 | |||||||||
| Total net sales | $ | 1,144 | $ | 1,066 | $ | 1,149 | ||||||
| Packaging services | 84 | % | 83 | % | 82 | % | ||||||
| Test services | 16 | % | 17 | % | 18 | % | ||||||
| Net sales from top ten customers | 62 | % | 65 | % | 67 | % | ||||||
| End Market Data: | ||||||||||||
| Communications (smartphones, tablets, handheld devices) | 47 | % | 42 | % | 46 | % | ||||||
| Automotive, industrial and other (driver assist, infotainment, safety, performance) | 25 | % | 26 | % | 24 | % | ||||||
| Computing (datacenter, infrastructure, PC/laptop, storage) | 17 | % | 19 | % | 17 | % | ||||||
| Consumer (set-top boxes, televisions, connected home, personal electronics, visual imaging) | 11 | % | 13 | % | 13 | % | ||||||
| Total | 100 | % | 100 | % | 100 | % | ||||||
| Gross Margin Data: | ||||||||||||
| Net sales | 100.0 | % | 100.0 | % | 100.0 | % | ||||||
| Cost of sales: | ||||||||||||
| Materials | 40.3 | % | 38.9 | % | 36.9 | % | ||||||
| Labor | 15.1 | % | 16.0 | % | 15.1 | % | ||||||
| Other manufacturing | 27.1 | % | 29.2 | % | 28.5 | % | ||||||
| Gross margin | 17.5 | % | 15.9 | % | 19.5 | % | ||||||
