Amkor Q4 Results Surpass Estimates, Upbeat Q1 Guidance; Stock Jumps 17%

(RTTNews) - Amkor Technology Inc (AMKR), a provider of outsourced semiconductor packaging and test services, on Monday reported fourth-quarter net earnings to equity holders of $13 million or $0.06 per share compared with $41 million or $0.18 per share last year.

Excluding items, adjusted earnings for the quarter were $0.38 per share compared with $0.18 per share a year ago.

Revenues for the quarter were $853 million compared with $755 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.14 per share on revenues of $780.5 million for the quarter. Analysts' estimates typically exclude special items.

"Driven by notable strength in mobile communications using our advanced packaging and test technologies, we saw record sales for the quarter and full year, and a substantial improvement in profitability," said CEO Steve Kelley.

Net earnings for the quarter were hurt by a slide in gross margin to 14.1% from 19.9% a year ago, the company said.

For the first quarter, the company expects earnings of $0.04 to $0.14 per share on revenues of $715 million to $765 million. Analysts expect earnings of $0.09 per share on revenues of $731 million.