Amkor Technology Reports Financial Results for the Fourth Quarter and Full Year 2015

Highlights:

  • 2015 Sales $2.88 Billion
  • 2015 GAAP EPS $0.24, Non-GAAP EPS $0.34
  • Completed Acquisition of J-Devices
  • Advanced System-in-Package (SiP) 2015 Sales Top $725 Million

TEMPE, Ariz. — (BUSINESS WIRE) — February 11, 2016 — 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, 2015. The GAAP financial results for the fourth quarter of 2015 include certain one-time, non-cash accounting charges related to the increase in Amkor’s ownership interest in J-Devices Corporation to 100% on December 30, 2015. These charges were excluded from Amkor’s fourth quarter guidance and we believe the table “Non-GAAP Results” below provides a basis for comparing our 2015 operating results with our fourth quarter guidance and prior periods.

“Fourth quarter results were generally in line with expectations,” said Steve Kelley, Amkor’s president and chief executive officer. “Although 2015 was challenging, early in the year we reduced our capital and operational budgets, which allowed us to generate positive free cash flow for the year.”

“During 2015 we made strong progress in many of our key initiatives,” added Kelley. “Amkor’s advanced System-in-Package (SiP) business is gaining significant traction and achieved sales of $725 million. These multi-component, multi-function products demand a variety of high precision assembly technologies, which leverage Amkor’s strengths. Automotive was also a bright spot for Amkor as sales were up 10%. Finally, our Greater China Revenues grew 20% and we have significantly expanded the number of accounts we engage with in the region.”

                   
GAAP Results     Q4 2015     Q3 2015     Q4 2014     2015     2014
($ in millions, except per share amounts)
Net sales $671 $734 $853 $2,885 $3,129
Gross margin 15.3% 17.2% 14.1% 16.6% 17.7%
Net income ($9) $28 $13 $58 $130
Earnings per diluted share ($0.04) $0.12 $0.06 $0.24 $0.55
 
                   
Non-GAAP Results*     Q4 2015     Q3 2015     Q4 2014     2015     2014
($ in millions, except per share amounts)
Net sales $671 $734 $853 $2,885 $3,129
Gross margin 15.3% 17.2% 22.9% 16.6% 20.1%
Net income $5 $28 $90 $81 $190
Earnings per diluted share $0.02 $0.12 $0.38 $0.34 $0.81
EBITDA $132 $187 $175 $666 $739
Adjusted EBITDA $146 $187 $250 $689 $796
 

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