Amkor Outlook -2: First Call FY02 View Loss $1.39/Shr
DOW JONES NEWSWIRES
PHOENIX -- Amkor Technology Inc. (AMKR) expects strong growth in 2002 and 2003 because of strategic initiatives in 2001, together with ongoing outsourcing trends.
In a press release Friday, the company said assembly and test revenue may increase by double digits in the second quarter compared with the first quarter of 2002.
It didn't address the revenue outlook for wafer fabrication.
On Jan. 30, the company forecasted first quarter revenue from the sector flat to down 5% from the $297 million posted in the fourth quarter, with wafer fab revenue "up slightly" from $55 million in the first quarter.
Amkor said it wouldn't update its first quarter forecast, but said it now expects "a strong second half."
Investments in advanced package and test technology, together its entry into Japan, Taiwan and China, were cited for the improved outlook.
Analysts expect a loss of 58 cents a share in the first quarter ending March 31. For the second quarter, the loss is forecast at 45 cents a share, for the third quarter, the loss is forecast at 11 cents a share, and for the full year, the loss is forecast at $1.39 cents a share.
The expectation represents mean results of an analyst survey by Thomson Financial/First Call.
In the year ended Dec. 31, the loss was $450.9 million, or $2.87 a share, on revenue of $1.5 billion. Amkor plans to release its first quarter 2002 earnings May 1, when it will provide official guidance for the second quarter.
Amkor also reiterated plans to restructure its 42% ownership interest in Anam Semiconductor.
Business at Anam's foundry has strengthened over the past several quarters and is expected to continue to improve through 2002, the company said. Capital expenditures relating to the foundry will be funded by ASI.
Earlier, shares of Amkor were trading at $16.19, up $2.31 or 16.6%, on Nasdaq volume of 2.1 million shares. Average daily volume is 985,844 shares. |
