Amkor Reports $451M Loss for 2001
Online staff -- Electronic News, 1/30/02
Amkor Technology Inc. today reported fourth quarter revenues of $352 million, up 5 percent over the previous quarter, but down 45 percent from the same period a year ago.
Assembly and test revenue was $297 million while wafer fab revenues totaled $55 million, the Chandler, Ariz.-based company said.
Including charges, the company reported a net loss of f $137 million, or 85 cents per share, compared with a profit of $41 million, or 26 cents per share, for the fourth quarter of 2000.
For the full year, Amkor posted revenues of $1.5 billion, down 36 percent from last year. The company’s net loss for 2001, including charges, was $451 million, or $2.87 per share, compared with a profit of $154 million, or $1.02 per share, for 2000.
Amkor said it is confident the current trend in outsourcing will continue.
"There is ongoing evidence that the current downturn will act as a catalyst for additional outsourcing as semiconductor companies fine tune their business models and rationalize their manufacturing infrastructure," said James Kim, Amkor’s chairman and CEO, in a statement.
While its customers have been meeting their forecasts, the quarter has still been difficult, the company said, adding that it does not expect to see a turnaround until the second quarter.
"During the fourth quarter we saw modest increases in factory utilization as the supply chain continued to absorb excess inventory and some end-markets realized strong seasonal builds," said John Boruch, Amkor’s president, in a statement. " … We currently expect the first quarter to be impacted by seasonally weak demand. However, visibility is improving and our customer's long-range forecasts are beginning to trend up. We are getting increasingly optimistic about the second quarter and beyond."
Capital spending was $24 million for the fourth quarter and $159 million for the year, Amkor said. The company’s capital budget for 2002 is expected to be about $100 million.
Amkor is predicting first quarter assembly and test revenue will be flat to down 5 percent sequentially while wafer fab revenue will be up slightly. |
