- Amkor Technology (NASDAQ:AMKR +17.5%) Q2 results came in easily topping estimates, highlighted by 24.5% Y/Y revenue ($917M) growth. Sequential revenue grew 5.6%.
- The company anticipates impact of the Japan earthquakes to be insignificant in its FY results.
- Gross margin of 14.3%, a 150 basis point reduction resulting from $13M of incremental earthquake expenses. Net income came in at $5M.
- Projects Q3 revenue to grow 15% sequentially, powered by the launch of mobile devices across multiple lines and strong growth in advanced SiP, Greater China and automotive.
- Projects Q3 net sales of $1.01B-$1.09B (10%-19% growth), gross margin of 16%-20% and net income of $29M-$65M. Projects FY 2016 capital expenditures to be approximately $650M.
- Steve Kelley, Amkor president and CEO: "Strong Android smartphone demand and a quicker recovery at our earthquake-damaged Kumamoto factory were the key drivers of our financial performance for the quarter. Our growth in sequential sales also drove an 8.1% improvement in EBITDA."
- Press release
- Earnings call transcript