公司Technology Reports Financial Results for the Second Quarter 2018

第二季度的亮点

Record second quarter net sales 10.066亿美元, up 4% sequentially
Net Income $33 million, earnings per diluted share $0.14
EBITDA $208 million, up 19% sequentially
Advanced SiP $226 million, up 14% sequentially

TEMPE, Ariz.--(BUSINESS WIRE)--Jul. 30, 2018-- 公司Technology, Inc.(NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the second quarter ended June 30, 2018.

"Second quarter results exceeded expectations, with sequential growth in net sales, operating margin and earnings per share," said Steve Kelley, 公司'sCEO。“我们所有终端市场的需求较高。通讯特别强劲。”

结果	2018年第2季度	Q1 2018	2017年第2季度
	($ in millions, except per share data)
Net sales	$1,066	$1,025	$1,008
Gross margin	15.9%	15.4%	17.5%
Net income attributable to Amkor¹	$33	$10	119美元
Earnings per diluted share¹	$0.14	$0.04	$0.50
EBITDA^1,2	$208	$175	$321

1) Q2 2017 net income included the sale of our K1 factory in Korea. The sale price was $142 million, and we recognized an after-tax gain of $82 million ($0.34 per diluted share).
2) EBITDA is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under "Selected Operating Data."

"Net sales growth drove sequentially higher profits and EBITDA," said Megan Faust, Amkor’s CFO. "In addition, we are in the process of refinancing the remaining $200 million6.625% Senior Notes due 2021 with proceeds from a recently completed foreign bank loan. This refinancing is expected to generate net annualized interest savings of approximately $11 million."

Business Outlook

"We expect third quarter 2018 net sales to be about 140亿美元, up 7% sequentially, primarily due to seasonal strength in the communications market," said Kelley.

Third quarter 2018 outlook (unless otherwise noted):

Net sales of $ 1110亿美元至180亿美元
Gross margin of 15% to 17%
Net income of $28 million to $55 million, or 0.12美元至0.23美元per diluted share
Full year capital expenditures of approximately $600 million

Conference Call Information

公司将于2018年7月30日星期一进行会议电话会议 5:00 p.m. Eastern Time. This call may include material information not included in this press release. This call is being webcast and can be accessed at 公司'swebsite:www.www.chenyuhi.com. You may also access the call by dialing 1-877-645-6380 or 1-404-991-3911. A replay of the call will be made available at 公司's网站或拨打1-855-859-2056或1-404-5373406 (conference ID 5995127). The webcast is also being distributed over NASDAQ OMX's investor distribution network to both institutional and individual investors. Institutional investors can access the call via NASDAQ OMX's password-protected event management site, Street Events (www.streetevents.com).

About 公司Technology, Inc.

公司Technology, Inc.is one of the world’s largest providers of outsourced semiconductor packaging and test services. Founded in 1968, 公司开创了IC包装和考验的外包，现在是世界领先的半导体公司，铸造厂和电子OEM的250多家战略制造合作伙伴。bob软件Amkor的运营基地包括位于关键电子制造地区的生产设施，产品开发中心和销售和支持办事处 Asia, Europeand the USA. For more information, visitwww.www.chenyuhi.com.

AMKOR TECHNOLOGY, INC.
Selected Operating Data

	2018年第2季度			Q1 2018			2017年第2季度
Net Sales Data:
Net sales (in millions):
高级产品*	$	496		$	476		$	445
Mainstream products**		570			549			563
总净销售额	$	1,066		$	1,025		$	1,008

Packaging services		83	%		81	%		81	%
Test services		17	%		19	%		19	%

来自十大客户的净销售额		65	%		69	%		67	%

End Market Data:
Communications (smartphones, tablets, handheld devices)		42	%		42	%		40	%
Automotive, industrial and other (driver assist, infotainment, safety, performance)		26	%		26	%		27	%
Computing (datacenter, infrastructure, PC/laptop, storage)		19	%		19	%		19	%
Consumer (set-top boxes, televisions, connected home, personal electronics, visual imaging)		13	%		13	%		14	%
全部的		100	%		100	%		100	%

Gross Margin Data:
Net sales		100.0	%		100.0	%		100.0	%
销售成本：
材料		38.9	%		36.9	%		35.3.	%
Labor		16.0	%		17.5	%		16.4	%
Other manufacturing		29.2	%		30.2	%		30.8	%
Gross margin		15.9	%		15.4	%		17.5	%


*		Advanced products include flip chip and wafer-level processing and related test services
**		Mainstream products include wirebond packaging and related test services

In the press release above we provide EBITDA, which is not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. We believe EBITDA to be relevant and useful information to our investors because it provides additional information in assessing our financial operating results. Our management uses EBITDA in evaluating our operating performance, our ability to service debt and our ability to fund capital expenditures. However, EBITDA has certain limitations in that it does not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of EBITDA to U.S. GAAP net income.

Non-GAAP Financial Measure Reconciliation:
	2018年第2季度		Q1 2018		2017年第2季度
	（数百万）
EBITDA Data:
Net income	$	33	$	10	$	120
Plus: Interest expense		21		20		22
Plus: Income tax expense		11		2		34
Plus: Depreciation & amortization		143		143		145
EBITDA*	$	208	$	175	$	321

* 2017 (Q2) EBITDA包括108美元的税前收入million related to the sale of our K1 factory in Korea.


AMKOR TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
		2018			2017*			2018			2017*
	(In thousands, except per share data)
Net sales	$	1,065,684		$	1,008,385		$	2,091,003		$	1,907,669
Cost of sales		895,967			831,769			1,763,515			1,594,819
Gross profit		169,717			176,616			327,488			312,850
Selling, general and administrative		74,700			67,785			155,423			144,067
研究与开发		41,076			44,281			82,005			85,849
Gain on sale of real estate		—			(108,109	)		—			(108,109	)
全部的operating expenses		115,776.			3,957			237,428			121,807
营业收入		53,941			172,659			90,060			191,043
Interest expense		21,127			22,158			41,138			43,412
Interest expense, related party		—			293			—			1,535
Other (income) expense, net		(11,001	)		(3,288	)		(7,569	)		7,893
全部的other expense, net		10,126			19,163			33,569			52,840
Income before taxes		43,815			153,496			56,491			138,203
Income tax expense		10,631			33,466			13,112			32,141
Net income		33,184			120,030			43,379			106,062
归属于非控股利益的净收入		(593	)		(1,017	)		(1244	)		(1,835	)
Net income attributable to Amkor	$	32,591		$	119,013		$	42,135		$	104,227

Net income attributable to Amkor per common share:
基本的	$	0.14		$	0.50		$	0.18		$	0.44
Diluted	$	0.14		$	0.50		$	0.18		$	0.44

Shares used in computing per common share amounts:
基本的		239,351			238,863			239,283			238,774
Diluted		239,804			239,679			239,805			239,601

* Effective January 1, 2018, we adopted Accounting Standards Update (ASU) No. 2014-09,Revenue from Contracts with Customers (Topic 606), utilizing the full retrospective transition method. The prior periods presented here have been revised to reflect this change.


AMKOR TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)

	June 30,			December 31,
		2018			2017
	（成千上万）
ASSETS
Current assets:
Cash and cash equivalents	$	380,262		$	596,364
Restricted cash		2,000			2,000
Accounts receivable, net of allowances		795,750			798,264
Inventories		243,019			213,649
Other current assets		37,148			33,727
全部的current assets		1,458,179			1,644,004
Property, plant and equipment, net		2,754,960			2,695,065
Goodwill		25,472			25,036
Restricted cash		3,503			4,487
Other assets		139,567			139,796
总资产	$	4,381,681		$	4,508,388
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings and current portion of long-term debt	$	115,057		$	123,848
Trade accounts payable		553,475			569,085
Capital expenditures payable		238,772			294,258
Accrued expenses		254,348			330,868
全部的current liabilities		1,161,652			1,318,059
Long-term debt		1,214,535			1,240,581
Pension and severance obligations		184,072			182,216
Other non-current liabilities		51,264			47,823
全部的liabilities		2,611,523			2,788,679

股东权益：
Preferred stock		—			—
Common stock		285			285
Additional paid-in capital		1,906,936			1,903,357
保留收益（累计赤字）		28,232			(13,903	)
Accumulated other comprehensive income (loss)		26,385			22,519.
Treasury stock		(216,087	)		(215,982	)
全部的公司stockholders’ equity		1,745,751			1,696,276
Non-controlling interests in subsidiaries		24,407			23,433
全部的equity		1,770,158			1,719,709.
全部的liabilities and equity	$	4,381,681		$	4,508,388


AMKOR TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

	截至6月30日止六个月，
		2018			2017
	（成千上万）
Cash flows from operating activities:
Net income	$	43,379		$	106,062
Depreciation and amortization		285,515			287,068
Gain on sale of real estate		—			(108,109	)
Other operating activities and non-cash items		(3,239	)		（4,659.	)
Changes in assets and liabilities		(119,276	)		(80,403	)
Net cash provided by operating activities		206,379			199,959
Cash flows from investing activities:
财产，植物和设备的付款		(389,568	)		(271,651	)
Proceeds from sale of property, plant and equipment		603			130,962
Acquisition of business, net of cash acquired		—			(43,771	)
Other investing activities		2,647			(2,117	)
Net cash used in investing activities		(386,318	)		(186,577	)
Cash flows from financing activities:
Proceeds from revolving credit facilities		—			75,000
Proceeds from short-term debt		7,264			41,228
Payments of short-term debt		(31,546	)		(32,110	)
从签发长期债务的收益		64,000			215,086
Payments of long-term debt		（77,015	)		(207,653	)
支付购买设施的延期考虑		—			(3,890	)
Payments of capital lease obligations		(1,689	)		(2,665	)
Other financing activities		492			561
Net cash provided by (used in) financing activities		(38,494	)		85,557
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash		1,347			9,418
Net increase (decrease) in cash, cash equivalents and restricted cash		(217,086	)		108,357
现金，现金等价物和限制现金，期初		602,851			555,495
现金，现金等价物和限制现金，期末	$	385,765		$	663,852

Forward-Looking Statement Disclaimer

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, statements regarding the refinancing of our Senior Notes due 2021 and associated interest savings, and 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, cyclicality, and rate of growth of the semiconductor industry;
timing and volume of orders relative to production capacity and the inability to achieve high capacity utilization rates, control costs and improve profitability;
laws, rules, regulations and policies imposed by the U.S. or foreign governments in areas such as tariffs, customs, duties and other restrictive trade barriers, national security, data privacy and cybersecurity, antitrust and competition, tax, currency and banking, privacy, labor, environmental, health and safety, and in particular the recent increase in protectionist measures considered or adopted by the U.S. and foreign governments;
laws, rules, regulations and policies within China和其他可能有利于国内公司过度非国内公司的国家，包括客户或政府支持促进当地竞争对手的发展和增长的努力;
volatility of consumer demand, double booking by customers and deterioration in forecasts from our customers for products incorporating our semiconductor packages, including any slowdown in demand or changes in customer forecasts for smartphones or other mobile devices and generally soft end market demand for electronic devices;
delays, lower manufacturing yields and supply constraints relating to wafers, particularly for advanced nodes and related technologies;
dependence on key customers, the impact of changes in our market share and prices for our services with those customers and the business and financial condition of those customers;
the performance of our business, interest rate fluctuations and other economic and market conditions, the cash needs and investment opportunities for the business, the need for additional capacity and facilities to service customer demand and the availability of cash flow from operations or financing;
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，包括不确定的宏观经济环境;
诉讼和其他法律活动的高度不可预测的性质和成本以及诸如此问题的不利成果的风险以及其他法律诉讼的影响;
changes in tax rates and taxes as a result of changes in U.S. or foreign tax law or the interpretations thereof (including the impact of recent U.S. tax reform), changes in our organizational structure, changes in the jurisdictions in which our income is determined to be earned and taxed, the outcome of tax reviews, audits and ruling requests, our ability to realize deferred tax assets and the expiration of tax holidays;
我们的客户缩减外包;
我们的大量债务和限制性契约;
failure to realize sufficient cash flow or access to other sources of liquidity to fund capital expenditures;
the effects of an economic slowdown in major economies worldwide;
disruptions in our business or deficiencies in our controls resulting from the integration of acquired operations, particularly J-Devices, or the implementation and security of, and changes to, our enterprise resource planning, factory shop floor systems and other management information systems;
there can be no assurance regarding when our new K5 factory and research and development center in Koreawill be fully utilized, or that the actual scope, costs, timeline or benefits of the project will be consistent with our current expectations;
恐怖袭击，政治不稳定，自然灾害与军事冲突的经济影响;
竞争，竞争性定价和平均售价下跌;
fluctuations in packaging and test manufacturing yields;
dependence on international operations and sales and fluctuations in foreign currency exchange rates, particularly in 日本and Korea;
dependence on raw material and equipment suppliers and changes in raw material and precious metal costs;
dependence on key personnel;
enforcement of and compliance with intellectual property rights; and
技术挑战。

Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect our operating results and financial condition are discussed in the company's Annual Report on Form 10-K for the year ended 2017年12月31日and in the company's subsequent filings with the Securities and Exchange Commissionmade prior to or after the date hereof. 公司undertakes no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180730005748/en/

Source: 公司Technology, Inc.

公司Technology, Inc.
Chris Chaney
Vice President, Investor Relations
480-786-7594
chris.chaney@www.chenyuhi.com

Press Releases

公司Technology Reports Financial Results for the Second Quarter 2018