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艾克尔Technology Reports Financial Results for the First Quarter 2012

First Quarter 2012

  • Net sales 6.55亿美元
  • Gross margin 16%
  • 净利润增长 $12 million
  • Earnings per diluted share $0.06

CHANDLER, Ariz.--(BUSINESS WIRE)--Apr. 26, 2012-- 艾克尔Technology, Inc.(NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the first quarter ended 3月31日，2012净销售额6.55亿美元，净收入1200万美元，稀释每股收益 $0.06.净利润增长在里面cludes a charge of $7million（其中 $5 millionwas recorded in cost of sales and $2 million在出售、一般和行政费用以及每股摊薄的收益中，包括以下费用： $0.03，用于重组与减少劳动力相关的成本 Japan.

“First quarter results came in at the high end of our expectations,” said Ken Joyce, 艾克尔'spresident and chief executive officer. “Our strong position in wireless communications continues to drive our business and we saw notable improvement in our test services segment. We also benefited from additional leadframe packaging business from some customers whose supply chains were disrupted by the flooding in Thailandduring the fourth quarter of 2011.”

Selected financial information for the first quarter 2012 is as follows:

  • 净销售额：6.55亿美元，较上季度的6.84亿美元下降4%，较2011年第一季度的6.65亿美元下降1%
  • Gross Margin: 16%, compared to 16% in the prior quarter, and 19% in the first quarter of 2011
  • Net Income: $12 million, down from $25 million in the prior quarter, and down from $25 million in the first quarter of 2011
  • 稀释股份收益： $0.06,down from 0.11美元在里面the prior quarter, and down from $0.10在里面the first quarter of 2011

“Capital additions were 1.24亿美元during the first quarter, primarily in support of specific business for customers in smartphones and tablets,” said 乔安妮·所罗门, 艾克尔'sexecutive vice president and chief financial officer.

艾克尔's董事会previously authorized $300 millionfor the repurchase of our common stock; $150 million在里面 2011年8月and $150 million在里面 February 2012.During the first quarter 2012 the company repurchased 1.0 million shares at a purchase price of $4.5 million,for a total of 29.6 million shares at a purchase price of $133.4 millionsince the program commenced.

现金及现金等价物为 3.81亿美元，净债务为9.74亿美元，在 3月31日，2012.

2012年第一季度的选定经营数据包括在财务报表前的下一节中。

Business Outlook

Based upon the currently available information, we have the following expectations for the second quarter 2012:

  • Net sales of $670 million至7亿美元，比上季度增长2%至7%
  • Gross margin of 16% to 18%
  • 净利润增长of $17 million to $36 million, or $0.08 to $0.16per diluted share
  • 周围资本增加 2亿美元第二季度，全年约5.5亿美元

“我们预计在2012年下半年稳定增长,” noted Joyce. “Several of our major customers that sell into smartphones and tablets have substantially increased their demand forecasts with us and we are raising our estimate of 2012 capital additions to around $550 millionto meet these specific new opportunities. However, our sales and capital additions may vary depending on a number of factors including the supply of 28 nanometer wafers for some of our customers.”

电话会议信息

艾克尔will conduct a conference call on 2012年4月26日，在 5： 东部夏令时下午00:00.This call may include material information not included in this press release. This call is being webcast and can be accessed at 艾克尔'sweb site:www.www.chenyuhi.com.You may also access the call by dialing 1-888-561-1799. A replay of the call will be made available at 艾克尔'sweb site or by dialing 800-406-7325 (access pass code #4532650). The webcast is also being distributed over 汤姆森路透Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through 汤姆森路透个人投资者中心www.companyboardroom.com或者通过访问 汤姆森路透Individual Investor Network. Institutional investors can access the call via 汤姆森路透password-protected event management site, Street Events (www.streetevents.com).

关于 艾克尔

艾克尔is a leading provider of semiconductor packaging and test services to semiconductor companies and electronics OEMs. More information about 艾克尔is available from the company's filings with the Securities and Exchange Commissionand on 艾克尔's网站：www.www.chenyuhi.com.

前瞻性声明免责声明

This press release contains forward-looking statements within the meaning of federal securities laws. All statements other than statements of historical fact are considered forward-looking statements including, without limitation, all of the statements made under "Business Outlook" above. These forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could affect future results and cause actual results and events to differ materially from historical and expected results and those expressed or implied in the forward-looking statements, including, but not limited to, the following:

  • the highly unpredictable nature of the semiconductor industry;
  • 全球经济对信贷市场、金融机构、客户、供应商和消费者的影响；
  • timing and volume of orders relative to production capacity and inability to achieve high capacity utilization rates;
  • volatility of consumer demand and weakness in forecasts from our customers for products incorporating our semiconductor packages;
  • dependence on key customers;
  • 我们的业务表现、经济和市场状况、业务的现金需求和投资机会、需要额外的能力和设施来满足客户需求以及运营或融资现金流的可用性；
  • 提供28纳米晶片；
  • customer modification of and follow through with respect to forecasts provided to us;
  • changes in tax rates and taxes as a result of changes in tax law, the jurisdictions in which our income is determined to be earned and taxed, the outcome of tax audits and tax ruling requests, our ability to realize deferred tax assets and the expiration of tax holidays;
  • curtailment of outsourcing by our customers;
  • our substantial indebtedness and restrictive covenants;
  • failure to realize sufficient cash flow or access to other sources of liquidity to fund capital additions;
  • the effects of a recession or other downturn in the U.S. and other economies worldwide;
  • 由于实施新的企业资源规划系统，我们的控制中断或不足；
  • the highly unpredictable nature and costs of litigation and other legal activities and the risk of adverse results of such matters;
  • worldwide economic effects of terrorist attacks, natural disasters and military conflict;
  • 我们控制成本的能力；
  • competition, competitive pricing and declines in average selling prices;
  • fluctuations in manufacturing yields;
  • dependence on international operations and sales;
  • dependence on raw material and equipment suppliers and changes in raw material and precious metal costs;
  • 汇率波动；
  • 对关键人员的依赖；
  • 管理增长方面的困难；
  • 知识产权的执行和遵守；
  • environmental and other governmental regulations; and
  • technological challenges.

其他可能影响本报表中所述事件结果并可能影响我们经营成果和财务状况的重要风险因素，将在公司截至2011年12月31日止年度10-K的年度报告中以及公司随后提交的文件中讨论 Securities and Exchange Commissionmade prior to or after the date hereof. 艾克尔不承担审查或更新任何前瞻性声明，以反映本新闻稿发布日期后发生的事件或情况。

AMKOR TECHNOLOGY, INC.

Selected Operating Data
2012年第一季度 Q4 2011 2011年第一季度
Sales Data (prior periods were revised for a refinement of our classifications):
Packaging services (in millions):
芯片规模封装 $ 250 $ 276 $ 231
引线框架 168 158 169
Ball grid array 117 128 145
Other packaging 47 53 53
Packaging services 582 615 598
试验services 73 69 67
Total sales $ 655 $ 684 $ 665
包装服务：
芯片规模封装 38 % 40 % 35 %
引线框架 26 % 23 % 25 %
Ball grid array 18 % 19 % 22 %
Other packaging 7 % 8 % 8 %
Packaging services 89 % 90 % 90 %
试验services 11 % 10 % 10 %
Total sales 100 % 100 % 100 %
Packaged units (in millions):
芯片规模封装 409 445 478
引线框架 1,457 1,287 1,572
Ball grid array 40 40 48
Other packaging 14 9 15
Total packaged units 1,920 1,781 2,113
Net sales from top ten customers 65 % 66 % 57 %
产能利用率
Packaging 73 % 73 % 71 %
试验 78 % 74 % 71 %
End Market Distribution Data(an approximation including representative devices and applications based on a sampling of our largest customers):
通信（手机、平板电脑、无线局域网、手持设备） 47 % 49 % 43 %
消费者（游戏、电视、机顶盒、便携式媒体、数码相机） 20 % 21 % 23 %
Computing (PCs, laptops, hard disk drives, servers, displays, printers, peripherals) 13 % 11 % 12 %
网络（网络服务器、路由器、交换机） 11 % 11 % 12 %
Other (auto, industrial) 9 % 8 % 10 %
Total 100 % 100 % 100 %
Gross Margin Data:
Net sales 100 % 100 % 100 %
Cost of sales:
材料 45 % 45 % 43 %
劳动 14 % 14 % 14 %
Other manufacturing 25 % 25 % 24 %
Gross margin 16 % 16 % 19 %

2012年第一季度 Q4 2011 2011年第一季度
(In millions, except per share data)
Capital Investment Data:
物业、厂房和设备的增加 $ 124 $ 128 $ 105
应付帐款及存款净额变动 (3 ) 14 9
购买财产、厂房和设备 $ 121 $ 142 $ 114
折旧和摊销 $ 88 $ 87 $ 83
Free Cash Flow Data:
Net cash provided by operating activities $ 56 $ 141 $ 120
减少购买财产、厂房和设备 (121 ) (142 ) （114 )
Free cash flow* $ (65 ) $ (1 ) $ 6
每股收益数据：
归属于美国库尔的净收入- basic $ 12 $ 25 $ 25
Adjustment for dilutive securities on net income:
Interest on 6.0% convertible notes due 2014, net of tax 4 4 4
归属于美国库尔的净收入- diluted $ 16 $ 29 $ 29
未发行加权平均股-基本** 168 177 194
Effect of dilutive securities:
Stock options and unvested restricted shares — — 1
6.0% convertible notes due 2014 83 83 83
未发行加权平均股-稀释 251 260 278
归属于美国库尔的净收入per common share:
Basic $ 0.07 $ 0.14 $ 0.13
Diluted $ 0.06 $ 0.11 $ 0.10
* We define free cash flow as net cash provided by operating activities less purchases of property, plant and equipment. Free cash flow is not defined by U.S. GAAP. We believe free cash flow to be relevant and useful information to our investors because it provides them with additional information in assessing our liquidity, capital resources and financial operating results. Our management uses free cash flow in evaluating our liquidity, our ability to service debt and our ability to fund capital additions. However, free cash flow has certain limitations, including that it does not represent the residual cash flow available for discretionary expenditures since other, non-discretionary expenditures, such as mandatory debt service, are not deducted from the measure. The amount of mandatory versus discretionary expenditures can vary significantly between periods.
除了但不应替代或优于根据美国公认会计准则编制的其他流动性或财务业绩的措施，例如经营活动提供的现金净额，还应考虑此措施。此外，我们对自由现金流量的定义可能与其他公司报告的类似标题的措施不可比。
** 艾克尔's Board of Directors previously authorized $300 million for the repurchase of our common stock; $150 million in August 2011 and $150 million in February 2012. During the first quarter, we repurchased 1.0 million shares of common stock for a purchase price of $4.5 million. As of March 31, 2012, we had repurchased a total of 29.6 million shares under the stock repurchase program for a purchase price of $133.4 million.

AMKOR TECHNOLOGY, INC.

合并收益表

(Unaudited)

For the Three Months Ended
3月31日，
2012 2011
(In thousands, except per share data)
Net sales $ 655,010 $ 664,950
Cost of sales 550029 538,264
毛利润 104981 126,686
Operating expenses:
Selling, general and administrative 57,255 64,558
Research and development 13,425 12,129
营业费用总额 70680 76,687
Operating income 34,301 49,999
Other expense (income):
Interest expense 18,586 18,789
Interest expense, related party 3,492 2,580
利息收入 （889 ) （587 )
外币损失 790 1,731
Equity in earnings of unconsolidated affiliate (1,988 ) (1,518 )
Other income, net (634 ) (144 )
Total other expense, net 19,357 20851
Income before income taxes 14,944 29148
所得税费用 3,362 3,382
净利润增长 11,582 25,766
归属于非控制权益的净损失（收益） 192 （663 )
归属于美国库尔的净收入 $ 11,774 $ 25,103
归属于美国库尔的净收入per common share:
Basic $ 0.07 $ 0.13
Diluted $ 0.06 $ 0.10
Shares used in computing per common share amounts:
Basic 167,866 194067年
Diluted 250,688 277,585

AMKOR TECHNOLOGY, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

3月31日，
2012

December 31,
2011
(In thousands)
资产
流动资产：
Cash and cash equivalents $ 381,132 $ 434631
Restricted cash 2,680 2,680
应收账款：
贸易，扣除津贴 345764 298,543
Other 19,746 27,197
Inventories 205,400 198427
其他流动资产 37683 35,352
流动资产总额 992,405 996,830
财产、厂房和设备、净 1,691,540 1656214
Intangibles, net 7260 8,382
投资 36567 36,707
Restricted cash 2279 4,001
Other assets 74,161 70,913
Total assets $ 2,804,212 $ 2773047
LIABILITIES AND EQUITY
流动负债：
短期借款和长期债务的流动部分 $ 53,027 $ 59,395
Trade accounts payable 424,163 424504
Accrued expenses 173,572 158,287
流动负债总额 650,762 642,186
长期债务 1,076,640 1062256
长期债务,related party 225,000 225,000
养老金和离职义务 125,413 129096年
Other non-current liabilities 19,003 13288年
Total liabilities 2,096,818 2071826
股权：
艾克尔stockholders' equity:
公关eferred stock — —
普通股 198 197
Additional paid-in capital 1,612,112 1,611,242
Accumulated deficit （786688 ) (798,462 )
Accumulated other comprehensive income 9,427 10,849
库存股 （135418 ) （130560 )
Amkor股东权益合计 699631 693266
子公司的非控制权益 7,763 7,955
权益总额 707,394 701221
Total liabilities and equity $ 2,804,212 $ 2773047

AMKOR TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Three Months Ended
3月31日，

2012 2011
(In thousands)
Cash flows from operating activities:
净利润增长 $ 11,582 $ 25,766
折旧和摊销 88,446 83,442
Other operating activities and non-cash items （1772年） ) 4896
Changes in assets and liabilities (42,150 ) 6123
Net cash provided by operating activities 56,106 120227
投资活动产生的现金流量：
购买财产、厂房和设备 (121,087 ) （113881 )
公关oceeds from the sale of property, plant and equipment 621 278
Financing lease payment from unconsolidated affiliate 7,914 3,020
Other investing activities 1,683 （1057 )
Net cash used in investing activities (110,869 ) （111640 )
Cash flows from financing activities:
短期信贷贷款借款 20,000 15,000
Payments under short-term credit facilities (15,000 ) (15,000 )
公关oceeds from issuance of long-term debt 158742 —
Payments of long-term debt (156,357 ) (20,413 )
支付回购的普通股 (4,505 ) —
公关oceeds from the issuance of stock through share-based compensation plans 69 627
Payments of tax withholding for restricted shares (353 ) (696 )
筹资活动提供（使用）的现金净额 2,596 (20,482 )
Effect of exchange rate fluctuations on cash and cash equivalents (1,332 ) (152 )
Net decrease in cash and cash equivalents （53499 ) （12047 )
期初现金及现金等价物 434631 404998
期末现金及现金等价物 $ 381,132 $ 392951

Source: 艾克尔Technology, Inc.

艾克尔Technology, Inc., Chandler
乔安妮·所罗门
执行副总裁兼首席财务官
480-786-7878
joanne.solomon@www.chenyuhi.com