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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (28137)	2/10/1999 6:38:00 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

A service of Semiconductor Business News, CMP Media Inc. Story posted 6 p.m. EST/3 p.m., PST, 2/10/99 Amkor sees recovery in chip packaging arena WEST CHESTER, Pa.--Amkor Technology Inc. here today reported revenues increase 3.1% to $425 million in the fourth quarter of 1998 compared to $412 million in the same period a year ago. The world's largest chip packaging and test contractor said its net income in the fourth quarter last year fell 3.4% to $19.7 million from $20.4 million reported in the period a year ago. "While we continued to experience softness in our packaging and test business during the fourth quarter, we believe we may have reached the bottom of the cycle," said John Boruch, president of Amkor, which went public in 1998. "In addition, wafer fab sales ramped up to full-capacity production in the fourth quarter based on surprisingly strong demand from Texas Instruments for digital signal processors," he said, referring to the company's foundry services offered through Korea's Anan Group, which opened a fab with TI technology (see Nov. 10, 1997, story). "Looking ahead, we are cautiously optimistic about the prospects for a recovery in our packaging business during 1999," Boruch said. "Our business plan reflects our expectations of a more healthy growth rate in our core packaging business, and we are gearing our capital expenditure program accordingly." For 1998, Amkor revenues totaled $1.57 billion, an increase of 7.7% from $1.46 billion in 1997. The company's proforma net income for 1998 was $71.0 million compared to $39.7 million in 1997.