Business
Amkor Technology Reports Financial Results for the Second Quarter 2020
Second Quarter Highlights Second quarter net sales $1.17 billion, up 31% year-on-year Operating income $87 million, operating margin 7.4% Net income $55
About this update from Amkor Technology, Inc.
[{"type":"text","content":"\nSecond Quarter Highlights\n\n\n\nSecond quarter net sales $1.17 billion, up 31% year-on-year\n\n\nOperating income $87 million, operating margin 7.4%\n\n\nNet income $55 million, earnings per diluted share $0.23\n\n\nEBITDA $209 million\n\n\n TEMPE, Ariz.--(BUSINESS WIRE)--\nAmkor Technology, Inc. (NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the second quarter ended June 30, 2020.\n\n\n“Broad based demand drove revenue well above the high end of expectations,” said Giel Rutten, Amkor’s president and chief executive officer. “The strategic investments we made in both advanced packaging technology and manufacturing capacity enabled significant growth in revenue and profitability.”\n\n\n\n\nResults\n\n\n\n \n\n\n\nQ2 2020\n\n\n\n \n\n\n\nQ1 2020\n\n\n\n \n\n\n\nQ2 2019\n\n\n\n\n\n \n\n\n\n \n\n\n\n($ in millions, except per share data)\n\n\n\n\n\nNet sales\n\n\n\n \n\n\n\n$1,173\n\n\n\n \n\n\n\n \n\n\n\n$1,153\n\n\n\n \n\n\n\n \n\n\n\n$895\n\n\n\n \n\n\n\n\n\nGross margin\n\n\n\n \n\n\n\n16.4\n\n\n\n%\n\n\n\n \n\n\n\n16.4\n\n\n\n%\n\n\n\n \n\n\n\n13.8\n\n\n\n%\n\n\n\n\n\nOperating income\n\n\n\n \n\n\n\n$87\n\n\n\n \n\n\n\n \n\n\n\n$84\n\n\n\n \n\n\n\n \n\n\n\n$23\n\n\n\n \n\n\n\n\n\nOperating margin\n\n\n\n \n\n\n\n7.4\n\n\n\n%\n\n\n\n \n\n\n\n7.3\n\n\n\n%\n\n\n\n \n\n\n\n2.5\n\n\n\n%\n\n\n\n\n\nNet income attributable to Amkor*\n\n\n\n \n\n\n\n$55\n\n\n\n \n\n\n\n \n\n\n\n$64\n\n\n\n \n\n\n\n \n\n\n\n($9\n\n\n\n)\n\n\n\n\n\nEarnings per diluted share*\n\n\n\n \n\n\n\n$0.23\n\n\n\n \n\n\n\n \n\n\n\n$0.26\n\n\n\n \n\n\n\n \n\n\n\n($0.04\n\n\n\n)\n\n\n\n\n\nEBITDA**\n\n\n\n \n\n\n\n$209\n\n\n\n \n\n\n\n \n\n\n\n$210\n\n\n\n \n\n\n\n \n\n\n\n$149\n\n\n\n \n\n\n\n\n\n\n\n*Q2 2019 net income includes an $8 million charge, or $0.03 per share, related to the early redemption of $525 million of senior notes due 2022.\n\n\n\n\n\n**EBITDA is a non-GAAP financial measure. The reconciliation to the comparable GAAP financial measure is included below under “Selected Operating Data.”\n\n\n\n\n\n“The strong revenue performance and disciplined expense management resulted in operating income margin of 7.4% and earnings per diluted share of $0.23,” said Megan Faust, Amkor’s executive vice president and chief financial officer. “Our profitability and focus on free cash flow ...