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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (3319)	2/13/2008 4:48:02 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

But here... Amkor blows away estimates posting earnings of 46c instead of 28c. Also, the Q1 outlook is a bit better than expected. Stock up 25%. The semis remain unpredictable as ever. Amkor Reports Strong Fourth Quarter 2007 Results Wednesday February 13, 4:05 pm ET CHANDLER, Ariz.--(BUSINESS WIRE)--Amkor Technology, Inc. (NASDAQ: AMKR - News) today reported its financial results for the fourth quarter and year ended December 31, 2007. Net sales of $747 million for the fourth quarter of 2007 were up 8.4% from the third quarter of 2007 and up 9.4% from the fourth quarter of 2006. Fourth quarter net income was $94 million, up 54.5% from the third quarter of 2007 and 58.6% from the fourth quarter of 2006. Fourth quarter earnings per diluted share was $0.46, up 53.3% from $0.30 in both the third quarter of 2007 and fourth quarter of 2006. For the full year 2006 and 2007, Amkor’s net sales were $2.7 billion. Amkor’s full year 2007 net income of $220 million was up $50 million, or 29.3%, from $170 million for the full year 2006. Full year 2007 earnings per diluted share was $1.11, up 23.3% from $0.90 for the full year 2006. “We exceeded both our sales and profitability targets in the fourth quarter of 2007 with stronger than expected customer demand primarily for high-end wireless communications, computing and gaming applications,” said James Kim, Amkor’s chairman and chief executive officer. "Our strong fourth quarter performance demonstrates that our business model is working, as we enrich our product mix, leverage our advanced packaging technologies and maintain a disciplined approach to capital spending.” “We anticipate solid first quarter 2008 sales when compared with historical levels,” said Kim. “However, in view of exceptionally strong sales in the fourth quarter of 2007, we expect first quarter 2008 sales to be down 7% to 9% sequentially, which is generally in line with seasonal expectations.” “Net sales for the fourth quarter of 2007 increased $58 million or 8.4% sequentially, while unit shipments increased 4.2% with higher unit volumes across most of our product lines,” said Joanne Solomon, Amkor’s chief financial officer. “Fourth quarter 2007 sales reflect the increasing importance of our advanced packaging technologies and the benefit of our investments in flip chip and wafer level packaging, 3D packaging and test. For the full year 2007 compared with 2006, unit shipments were down slightly reflecting a shift in our mix from traditional leadframe packages to advanced technologies including flip chip and 3D packaging,” said Solomon. Gross margin in the fourth quarter of 2007 was 27.2%, up from 24.7% in the third quarter of 2007 and 25.3% in the fourth quarter of 2006. The improvement principally reflects the operating leverage of higher revenues and the enriched product mix. Amkor generated $367 million of free cash flow in 2007, an increase of $159 million or 76% from the $208 million of free cash flow generated in 2006. “Total debt at the end of 2007 was $1.8 billion down $241 million from the prior year. Our cash balance at the end of 2007 was $410 million. We will repay $88 million of 9.25% senior notes at maturity on February 15, 2008 and repay approximately $64 million of maturing debt held by our subsidiaries throughout 2008. Net interest expense for 2007 decreased $31 million from 2006 reflecting the results of ongoing debt reduction efforts and selective refinancing of high cost debt in prior periods,” said Solomon. “Capital additions totaled $101 million in the fourth quarter of 2007 and $294 million for the full year,” said Solomon. “Capital additions as a percentage of revenues, or capital intensity, were 10.7% for 2007 compared with 11.0% for 2006. We expect our capital intensity for 2008 to be around 11% to 14% of revenues, of which approximately 70% is expected to be in support of packaging, 20% for test and 10% for infrastructure. For the first quarter of 2008 we expect around $110 million of capital additions which are focused on specific opportunities for our largest customers and ongoing infrastructure investments. We currently expect our capital spending will be weighted more heavily in the first half of 2008 as a result of investments to expand our wafer bumping capacity.” The effective income tax rate for 2007 was 5.4%, and the anticipated effective tax rate for 2008 is approximately 10%. This increase is primarily attributable to the full utilization of foreign net operating loss carry-forwards and tax credit carry-forwards in Taiwan. At December 31, 2007, Amkor had U.S. net operating losses available for carry-forward totaling $364 million, expiring through 2027, and $48 million of non-U.S. operating losses available for carry-forward, expiring through 2012. Selected operating data for the fourth quarter 2007 is included in a section before the financial tables. Business Outlook On the basis of customers’ forecasts, we have the following expectations for the first quarter of 2008: Sales – Down 7% to 9% from the fourth quarter of 2007 Gross Margin – in the range of 24% to 25% Net income – in the range of $0.25 to $0.29 per diluted share Amkor will conduct a conference call on February 13, 2008 at 5:00 p.m. eastern time. The call can be accessed by dialing 303-262-2190, or by visiting the investor relations page of our website: www.amkor.com or CCBN’s website: www.companyboardroom.com. An archive of the webcast can be accessed through the same links, and will be available until our next quarterly earnings conference call. An audio replay of the call will be available for 48 hours following the conference call by dialing 303-590-3000 passcode: 11105972. About Amkor Amkor is a leading provider of semiconductor assembly and test services.

To: RockyBalboa who wrote (3319)	7/23/2008 5:33:03 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

Poor company or inept? Crashed $13 to $38.50 July 23 (Reuters) - MEMC Electronic Materials Inc (WFR.N: Quote, Profile, Research, Stock Buzz) posted lower-than-expected quarterly profit as it was hurt by disruptions at two of its facilities, and also cut its 2008 outlook, knocking its shares down 29 percent after the bell. The company, which supplies silicon wafers to the chip and solar industries, also gave a weak third-quarter revenue outlook, citing uncertainty in demand for its semiconductor application, mainly due to a weak economy. Second-quarter net income rose to $176.1 million, or 76 cents a share, from $163.6 million, or 70 cents per share, a year earlier. Excluding items, it earned 92 cents a share. >>>> The company said it suffered a "premature failure of a relatively new heat exchanger" at its Merano, Italy facility, while a loose pipe fitting caused a fire at its Pasadena, Texas facility during the quarter