Business
Amkor Technology Reports Record Financial Results for the Third Quarter 2021
Third Quarter Highlights Record net sales $1.68 billion, up 20% sequentially and 24% year-on-year Record gross profit $325 million, record operating income
About this update from Amkor Technology, Inc.
[{"type":"text","content":"\nThird Quarter Highlights\n\n\nRecord net sales $1.68 billion, up 20% sequentially and 24% year-on-year\n\n\nRecord gross profit $325 million, record operating income $211 million\n\n\nGross margin 19.3%, operating income margin 12.6%\n\n\nRecord net income $181 million, record earnings per diluted share $0.74\n\n\nRecord EBITDA $358 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 third quarter ended September 30, 2021.\n\n“We delivered an outstanding third quarter with record revenue of $1.68 billion, up $274 million from the second quarter, reflecting a 20% sequential increase. All of our end markets set new record revenue levels this quarter,” said Giel Rutten, Amkor’s president and chief executive officer. “The organization rapidly and efficiently scaled for substantial growth, including ramps of multiple new product introductions in Communications and Consumer.”\n\n\n\nResults\n\n\n\n \n\n\n\nQ3 2021\n\n\n\n \n\n\n\nQ2 2021\n\n\n\n \n\n\n\nQ3 2020\n\n\n\n\n\n \n\n\n\n \n\n\n\n($ in millions, except per share data)\n\n\n\n\n\nNet sales\n\n\n\n \n\n\n\n$1,681\n\n\n\n \n\n\n\n$1,407\n\n\n\n \n\n\n\n$1,354\n\n\n\n\n\nGross margin\n\n\n\n \n\n\n\n19.3%\n\n\n\n \n\n\n\n19.4%\n\n\n\n \n\n\n\n17.8%\n\n\n\n\n\nOperating income\n\n\n\n \n\n\n\n$211\n\n\n\n \n\n\n\n$155\n\n\n\n \n\n\n\n$127\n\n\n\n\n\nOperating income margin\n\n\n\n \n\n\n\n12.6%\n\n\n\n \n\n\n\n11.0%\n\n\n\n \n\n\n\n9.4%\n\n\n\n\n\nNet income attributable to Amkor\n\n\n\n \n\n\n\n$181\n\n\n\n \n\n\n\n$126\n\n\n\n \n\n\n\n$92\n\n\n\n\n\nEarnings per diluted share\n\n\n\n \n\n\n\n$0.74\n\n\n\n \n\n\n\n$0.51\n\n\n\n \n\n\n\n$0.38\n\n\n\n\n\nEBITDA (1)\n\n\n\n \n\n\n\n$358\n\n\n\n \n\n\n\n$295\n\n\n\n \n\n\n\n$255\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n(1) EBITDA 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\n“High utilization and excellent factory execution drove record profitability in the third quarter,” said Megan Faust, Amkor’s executive vice president and chief financial officer. “With gross profit of $325 million and operating income of $211 million, we posted EPS of $0.74, nearly double the prior year period.”\...