Amkor Technology Reports Financial Results for the Fourth Quarter and Full Year 2018

Fourth Quarter 2018 Highlights:

  • Fourth quarter net sales $1,081 million
  • Net income $28 million, earnings per diluted share $0.12
  • Gross margin 16.9%

Full Year 2018 Highlights:

  • Record sales $4.3 billion, 3% year-on-year growth
  • Net income $127 million, earnings per diluted share $0.53
  • EBITDA $837 million
  • Net cash from operations $663 million and free cash flow $120 million
  • Fourth consecutive year of positive free cash flow

TEMPE, Ariz. — (BUSINESS WIRE) — February 11, 2019 — 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, 2018.

“Both revenue and earnings were stronger than expected in the fourth quarter," said Steve Kelley, Amkor’s president and chief executive officer. “For full year 2018, sales increased 3% year over year to a record $4.3 billion. Broad customer engagement across multiple end markets drove our balanced growth.”

“Favorable product mix resulted in profitability that was above expectations for the quarter,” said Megan Faust, Amkor’s corporate vice president and chief financial officer. “We delivered $120 million of free cash flow in 2018, our fourth consecutive year of positive free cash flow. As a result, we ended the year with over $1 billion in liquidity, including $682 million of cash on hand.”

Results   Q4 2018   Q3 2018   Q4 2017     2018       2017  
  ($ in millions, except per share amounts)
Net sales $ 1,081   $ 1,144   $ 1,150   $ 4,316   $ 4,207
Gross margin 16.9 % 17.5 % 19.5 % 16.5 % 18.1 %
Net income attributable to Amkor (1) $ 28 $ 57 $ 100 $ 127 $ 264
Earnings per diluted share (1) $ 0.12 $ 0.24 $ 0.42 $ 0.53 $ 1.10
EBITDA (1)(2) $ 219 $ 235 $ 254 $ 837 $ 975
Annual free cash flow (1)(2) $ 120 $ 209

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