First Quarter and Business Highlights
- Net sales $914 million, 5% year-on-year growth
- Gross margin 15.6%
- Net cash provided by operating activities $103 million and free cash flow $17 million
- Strong Q2 outlook of around 9% sequential revenue growth
TEMPE, Ariz. — (BUSINESS WIRE) — April 27, 2017 — Amkor Technology, Inc. (NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the first quarter ended March 31, 2017.
"First quarter operating results came in as expected, with revenues up 5% year-on-year," said Steve Kelley, Amkor's president and chief executive officer. "Although the smartphone market experienced a seasonal slowdown in the first quarter, demand in other end markets was healthy."
| Results | Q1 2017 | Q4 2016 | Q1 2016 | |||
| ($ in millions, except per share data) | ||||||
| Net sales | $914 | $1,022 | $869 | |||
| Gross margin* | 15.6% | 22.2% | 14.1% | |||
| Net income (loss) | ($10) | $100 | ($1) | |||
| Earnings per diluted share | ($0.04) | $0.42 | $— | |||
| EBITDA** | $154 | $280 | $155 | |||
| Net cash provided by operating activities | $103 | $238 | $138 | |||
| Free cash flow** | $17 | $117 |
($61) |
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