AMKR stock surged more than 17% in after-hours trading on February 10, 2020, after the company reported both earnings and revenue beats.
Amkor 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. Amkor Technology reports Q4 EPS of 41c versus the consensus estimate of 22c. Revenue also beat coming in at $1.18B versus the consensus estimate of $1.1B.
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 diluted share $0.41
Net income $121 million, earnings per diluted share $0.50
EBITDA $756 million
Net cash from operations $564 million and free cash flow $104 million
Fifth consecutive year of positive free cash flow
“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.”
“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.”
“We expect first quarter 2020 revenue to be up approximately 25% year-on-year and down about 5% sequentially.” said Kelley. “Looking forward, we are well-positioned for growth in 2020. Amkor’s value proposition – centered on technology, quality, high yields and service – is resonating with customers in our target markets.”
First quarter 2020 outlook:
Net sales of $1.08 billion to $1.16 billion
Gross margin of 14.5% to 17.5%
Net income of $22 million to $59 million, or $0.09 to $0.24 per diluted share
Full year 2020 capital expenditures of around $550 million
February 17, 2020 Fan-out Panel-level Packaging Market Size by Global Industry Share, Growth, Regional Analysis, Upcoming Trends, Key Manufacturers, Technology Updates and Development Factors and 2026 Forecast TechNews.mobi ...
February 17, 2020 Semiconductor and IC Packaging Material Market (2018 to 2025) - Featuring Profiles on Amkor Technologies, DuPont, Henkel & Honeywell Among Others - ResearchAndMarkets.com Business Wire ...
February 17, 2020 New Strategic Research Report on Semiconductor Assembly and Packaging Services Market (2020 To 2027) is booming worldwide | Advanced Semiconductor Engineering (ASE), Amkor Technology, Intel, Samsung Electronics Chronicle 99 ...
February 17, 2020 System in Package (SiP) Technology Market is Dazzling Worldwide | FUJITSU SEMICONDUCTOR LIMITED, NXP Semiconductors., Si2 Microsystems Pvt. Ltd, ShunSin Technology Holdings Limited, and More Nyse Nasdaq Live ...