Business
Amkor Technology Reports Record Financial Results for the Fourth Quarter and Full Year 2022
TEMPE, Ariz.--(BUSINESS WIRE)-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced
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 fourth quarter and full year ended December 31, 2022.\n\nFourth Quarter 2022 Highlights:\n\n\nRecord fourth quarter net sales $1.91 billion, up 11% year-on-year\n\n\nNet income $164 million, earnings per diluted share $0.67\n\n\nFull Year 2022 Highlights:\n\n\nRecord net sales $7.09 billion, up 16% year-on-year\n\n\nRecord gross profit $1.33 billion, record operating income $897 million\n\n\nGross margin 18.8%, operating income margin 12.7%\n\n\nRecord net income $766 million, record earnings per diluted share $3.11\n\n\nRecord EBITDA $1.53 billion\n\n\nNet cash from operations $1.10 billion, free cash flow $194 million\n\n\n“2022 was another great year for Amkor. We achieved record revenue of $7.1 billion and record EPS of $3.11. All end markets set new record revenue levels for the year, resulting in significant outperformance compared to the semiconductor market,” said Giel Rutten, Amkor’s president and chief executive officer. “Amkor’s strategic focus on advanced packaging, geographic diversity, and industry megatrends positions us well to continue to outperform the semiconductor industry through this cycle.”\n\nFinancial Results\n\n\n\n($ in millions, except per share data)\n\n\n\nQ4 2022\n\n\n\nQ3 2022\n\n\n\nQ4 2021\n\n\n\n2022\n\n\n\n2021\n\n\n\n\n\nNet sales\n\n\n\n$1,906\n\n\n\n$2,084\n\n\n\n$1,725\n\n\n\n$7,092\n\n\n\n$6,138\n\n\n\n\n\nGross margin\n\n\n\n17.5%\n\n\n\n20.2%\n\n\n\n21.0%\n\n\n\n18.8%\n\n\n\n20.0%\n\n\n\n\n\nOperating income\n\n\n\n$225\n\n\n\n$319\n\n\n\n$252\n\n\n\n$897\n\n\n\n$763\n\n\n\n\n\nOperating income margin\n\n\n\n11.8%\n\n\n\n15.3%\n\n\n\n14.6%\n\n\n\n12.7%\n\n\n\n12.4%\n\n\n\n\n\nNet income attributable to Amkor\n\n\n\n$164\n\n\n\n$306\n\n\n\n$217\n\n\n\n$766\n\n\n\n$643\n\n\n\n\n\nEarnings per diluted share\n\n\n\n$0.67\n\n\n\n$1.24\n\n\n\n$0.88\n\n\n\n$3.11\n\n\n\n$2.62\n\n\n\n\n\nEBITDA (1)\n\n\n\n$382\n\n\n\n$481\n\n\n\n$398\n\n\n\n$1,529\n\n\n\n$1,331\n\n\n\n\n\nNet cash provided by operating activities\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$1,099\n\n\n\n$1,121\n\n\n\n\n\nAnnual free cash flow (1)\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$194\n\n\n\n$344\n\n\n\n\n\n\n(1)\n\n\n\n\nEBITDA and free cash flow are non-GAAP m...