Amkor’s Q1 Losses Increase
Online staff -- Electronic News, 5/2/2002
e-insite.net
Amkor Technology Inc. today posted a first quarter net loss of $188 million, or $1.15 per share, on revenue of $350 million.
The Chandler, Ariz., company’s net loss included charges of $97 million, or 59 cents per share, and a one-time gain of $12 million, or 7 cents per share, related to its equity investment in Anam Semiconductor Inc. The company reported a net loss of $40 million, or 45 cents per share, in the previous quarter, and a net loss of $69.2 million, or 45 cents per share, a year ago.
Revenue was down 1 percent sequentially from $352 million and 27 percent below last year’s $480.6 million. Assembly and test revenue was $289 million, down from $439.4 million a year-ago. Wafer fab revenue was $61 million, compared with $41.2 million last year.
"Our first quarter revenue tracked largely to plan and confirmed expectations that improving business conditions would transcend the seasonal weakness typically associated with the first quarter," said James Kim, Amkor’s chairman and CEO, in a statement.
Amkor said it is seeing signs that semiconductor companies are speeding up their outsourcing plans. Based on forecasts from its customers, Amkor is predicting second quarter test and assembly revenue will increase 20 percent sequentially. The company did not provide an overall revenue forecast. |
