Amkor Technology Reports Financial Results for the Second Quarter 2022

About this update from Amkor Technology, Inc.

[{"type":"text","content":" 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, 2022.\n\nSecond Quarter 2022 Highlights\n\n\nNet sales $1.5 billion\n\n\nNet income $125 million, earnings per diluted share $0.51\n\n\nEBITDA $302 million\n\n\n“Amkor delivered record second quarter revenue of $1.5 billion. Demand for Advanced packaging solutions remained strong and drove our Automotive & Industrial end market to 16% year-on-year growth and a new record,” said Giel Rutten, Amkor’s president and chief executive officer. “We have returned to normal output levels in Shanghai after a government mandated COVID-19 lockdown, and our global factory network is prepared to support the growth expected in the second half of the year.”\n\nQuarterly Financial Results\n\n\n\n \n\n\n($ in millions, except per share data)\n\n\n\n \n\n\n\nQ2 2022\n\n\n\n \n\n\n\nQ1 2022\n\n\n\n \n\n\n\nQ2 2021\n\n\n\n\n\nNet sales\n\n\n\n \n\n\n\n$1,505\n\n\n\n \n\n\n\n$1,597\n\n\n\n \n\n\n\n$1,407\n\n\n\n\n\nGross margin\n\n\n\n \n\n\n\n16.6%\n\n\n\n \n\n\n\n20.4%\n\n\n\n \n\n\n\n19.4%\n\n\n\n\n\nOperating income\n\n\n\n \n\n\n\n$143\n\n\n\n \n\n\n\n$210\n\n\n\n \n\n\n\n$155\n\n\n\n\n\nOperating income margin\n\n\n\n \n\n\n\n9.5%\n\n\n\n \n\n\n\n13.2%\n\n\n\n \n\n\n\n11.0%\n\n\n\n\n\nNet income attributable to Amkor\n\n\n\n \n\n\n\n$125\n\n\n\n \n\n\n\n$171\n\n\n\n \n\n\n\n$126\n\n\n\n\n\nEarnings per diluted share\n\n\n\n \n\n\n\n$0.51\n\n\n\n \n\n\n\n$0.69\n\n\n\n \n\n\n\n$0.51\n\n\n\n\n\nEBITDA (1)\n\n\n\n \n\n\n\n$302\n\n\n\n \n\n\n\n$363\n\n\n\n \n\n\n\n$295\n\n\n\n\n\n\n(1)\n\n\n\n\nEBITDA is a non-GAAP financial measure. The reconciliation to the most directly comparable GAAP financial measure is included below under “Selected Operating Data.” \n\n\n\n\nAt June 30, 2022, total cash and short-term investments was $1.1 billion, and total debt was $1.1 billion.\n\nThe company paid a quarterly dividend of $0.05 per share on June 27, 2022. 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.\n\nBusiness Outlook\n\nThe following information presents Amkor’s guidance for the third quarter 2022 (unless otherwise noted):\n\n\nNet sales of $1.88 billi...

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