Business
Amkor Technology Reports Financial Results for the Fourth Quarter and Full Year 2019
Fourth Quarter 2019 Highlights: Record net sales $1.18 billion, up 9% sequentially and year-on-year Gross margin 18.9% Net income $99 million, earnings per
About this update from Amkor Technology, Inc.
[{"type":"text","content":"\nFourth Quarter 2019 Highlights:\n\n\n\nRecord net sales $1.18 billion, up 9% sequentially and year-on-year\n\n\nGross margin 18.9%\n\n\nNet income $99 million, earnings per diluted share $0.41\n\n\nEBITDA $244 million\n\n\n\nFull Year 2019 Highlights:\n\n\n\nNet sales $4.05 billion\n\n\nNet income $121 million, earnings per diluted share $0.50\n\n\nEBITDA $756 million\n\n\nNet cash from operations $564 million and free cash flow $104 million\n\n\nFifth consecutive year of positive free cash flow\n\n\n\n \n\n TEMPE, Ariz.--(BUSINESS WIRE)--\nAmkor Technology, Inc. (NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the fourth quarter and full year ended December 31, 2019.\n\n\n“Fourth quarter revenue grew 9% sequentially to a new record of $1.18 billion,” said Steve Kelley, Amkor’s president and chief executive officer. “Strong demand for advanced packages in the mobile and consumer markets drove revenue above the high end of expectations.”\n\n\n“Gross margin and EPS were also well above the high end of guidance due to record revenue,” said Megan Faust, Amkor’s executive vice president and chief financial officer. “We generated over $100 million of free cash flow while continuing to make strategic investments in advanced packaging technologies to support future growth.”\n\n\n\n\nResults\n\n\n\nQ4 2019 (1)\n\n\n\n \n\n\n\nQ3 2019\n\n\n\n \n\n\n\nQ4 2018 (2)\n\n\n\n \n\n\n\n2019 (3)\n\n\n\n \n\n\n\n2018\n\n\n\n\n\n \n\n\n\n($ in millions, except per share amounts)\n\n\n\n\n\nNet sales\n\n\n\n$1,178\n\n\n\n \n\n\n\n$1,084\n\n\n\n \n\n\n\n$1,081\n\n\n\n \n\n\n\n$4,053\n\n\n\n \n\n\n\n$4,316\n\n\n\n\n\nGross margin\n\n\n\n18.9%\n\n\n\n \n\n\n\n16.8%\n\n\n\n \n\n\n\n16.9%\n\n\n\n \n\n\n\n16.0%\n\n\n\n \n\n\n\n16.5%\n\n\n\n\n\nOperating income\n\n\n\n$118\n\n\n\n \n\n\n\n$79\n\n\n\n \n\n\n\n$75\n\n\n\n \n\n\n\n$233\n\n\n\n \n\n\n\n$258\n\n\n\n\n\nNet income attributable to Amkor\n\n\n\n$99\n\n\n\n \n\n\n\n$54\n\n\n\n \n\n\n\n$28\n\n\n\n \n\n\n\n$121\n\n\n\n \n\n\n\n$127\n\n\n\n\n\nEarnings per diluted share\n\n\n\n$0.41\n\n\n\n \n\n\n\n$0.23\n\n\n\n \n\n\n\n$0.12\n\n\n\n \n\n\n\n$0.50\n\n\n\n \n\n\n\n$0.53\n\n\n\n\n\nEBITDA (4)\n\n\n\n$244\n\n\n\n \n\n\n\n$209\n\n\n\n \n\n\n\n$219\n\n\n\n \n\n\n\n$756\n\n\n\n \n\n\n\n$837\n\n\n\n\n\nAnnual free cash flow (4)\n\n\n\n \n...