艾克尔Technology Reports Financial Results for the Third Quarter 2014

Third Quarter 2014

  • Net sales 8.13亿美元
  • Gross margin 18.8%
  • 净利润增长 $47 million
  • Earnings per diluted share $0.20

CHANDLER, Ariz.--(商报讯)2014年10月27日-- 艾克尔Technology, Inc.(NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the third quarter ended 2014年9月30日,with net sales of $813 million, net income of $47 million, and earnings per diluted share of $0.20.

"We delivered record sales this quarter, driven by gains in the mobile device market," said Steve Kelley, 艾克尔's总裁兼首席执行官。”继第二季度连续增长10%之后,销售额同比增长6%。我们原本预计第三季度会有更强劲的增长,但没有达到我们的目标,主要原因是高端安卓智能手机的需求减少。”

Selected financial information for the third quarter 2014 is as follows:

  • Net Sales: $813 million, up 6% from $767 million in the prior quarter, and up 6% from $768 million in the third quarter of 2013
  • Gross Margin: 18.8%, compared to 19.6% in the prior quarter, and adjusted gross margin of 19.7% in the third quarter of 2013
  • Net Income: $47 million,而上一季度净收入为5000万美元,调整后净收入为 $三5 millionin the third quarter of 2013. Second quarter 2014 net income includes a net gain of 1800万美元related to the sale of a subsidiary to J-Devices
  • 稀释每股收益: $0.20,与稀释每股收益相比 $0.21在第一季度,di调整后的每股收益luted share of $0.15in the third quarter of 2013. Second quarter 2014 earnings per diluted share includes $0.08related to the sale of a subsidiary to J-Devices

“Although we saw solid sales growth in the quarter, gross profit remained flat as we invested in our infrastructure ahead of the originally expected higher levels of demand,” said 乔安妮·所罗门, 艾克尔'sexecutive vice president and chief financial officer.

The adjusted gross margin, adjusted net income and adjusted earnings per diluted share information presented above excludes loss contingency charges relating to our pending patent license litigation and are non-GAAP measures. The loss contingency charge was $11million( $10 million2013年第三季度。上述所有期间的选定运营数据,以及与可比GAAP衡量标准的对账,在财务报表前的下面一节中列出。

现金及现金等价物 $486 million,and total debt was 15亿美元,在 2014年9月30日.

Business Outlook

“Looking ahead to the fourth quarter, we see growth in mobile communications, offset by seasonal declines in the consumer, computing and industrial end markets," noted Kelley.

Based upon currently available information, we have the following expectations for the fourth quarter 2014:

  • Net sales of $755 million to $805 million,down 1% to 7% from the prior quarter
  • 2014年全年净销售额 30.3亿至30.8亿美元,up 3% to 4% from the prior year
  • Gross margin of 17% to 20%
  • 净利润增长of $17 million to $41 million,or $0.07 to $0.17per diluted share
  • Full year 2014 capital expenditures of around $675 million

电话会议信息

艾克尔will conduct a conference call on 2014年10月27日,星期一,在 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 艾克尔's网站: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 艾克尔's或拨打1-855-859-2056或1-404-537-3406(会议ID 9026503)。网络广播也在网上分发 纳斯达克OMXinvestor distribution network to both institutional and individual investors. Institutional investors can access the call via 纳斯达克OMXpassword-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 Commission 艾克尔's网站:www.www.chenyuhi.com.

AMKOR TECHNOLOGY, INC.

Selected Operating Data

自2013年第四季度以来,我们按以下类别公布了净销售额数据:高级产品和主流产品。我们还提供了2012年和2013年的季度和年度净销售额,以及在我们网站的投资者关系部分修改后的净销售额报告类别下的一揽子单位www.www.chenyuhi.com.

Q3 2014 Q2 2014 Q3 2013
净销售额数据:
Net sales (in millions):
Advanced products* $ 411 $ 三64 $ 三49
主流产品** 402 403 419
Total net sales $ 813 $ 767 $ 768
Packaging services 86 % 86 % 85 %
Test services 14 % 14 % 15 %
Net sales from top ten customers 60 % 58 % 63 %
Packaged units (in millions):
Advanced products* 1,012 910 746
主流产品** 三,545 三,三79 三,101
Total packaged units 4,557 4,289 三,847
End Market Distribution Data(近似值包括基于我们最大客户抽样的代表性设备和应用程序):
Communications (smart phones, tablets, handheld devices, wireless LAN) 56 % 53 % 53 %
Consumer (television, set top boxes, gaming, portable media, digital cameras) 1三 % 15 % 15 %
Automotive, industrial and other (infotainment, safety, performance, comfort) 11 % 12 % 10 %
Networking (servers, routers, switches) 11 % 11 % 11 %
计算机(PC、硬盘、打印机、外围设备、服务器) 9 % 9 % 11 %
Total 100 % 100 % 100 %
毛利数据:
Net sales 100.0 % 100.0 % 100.0 %
Cost of sales:
材料 三7.5 % 三7.2 % 三9.0 %
劳动 14.1 % 14.0 % 14.1 %
Other manufacturing 29.6 % 29.2 % 27.2 %
Loss contingency % % 1.三 %
Gross margin 18.8 % 19.6 % 18.4 %
每股收益数据:
归属于Amkor的净收入- basic $ 47 $ 50 $ 25
Adjustment for dilutive securities on net income:
Interest on 6.0% convertible notes due 2014, net of tax 1
归属于Amkor的净收入- diluted $ 47 $ 50 $ 26
加权平均流通股-基本 236 233 216
Effect of dilutive securities:
Stock options 1 1
6.0% convertible notes due 2014 19
加权平均流通股-摊薄 237 237 235
归属于Amkor的净收入per common share:
Basic $ 0.20 $ 0.21 $ 0.12
Diluted $ 0.20 $ 0.21 $ 0.11

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

**Mainstream products include wirebond packaging and related test services and since August 1, 2013,include the results of our newly acquired power discrete business in 马来西亚它的单位数量相对于收入来说很高

In the press release above we provide adjusted gross margin, adjusted net income and adjusted earnings per diluted share for the third quarter 2013. We present these non-GAAP amounts to demonstrate the impact of the loss contingency we recognized related to our pending patent license litigation. These measures have limitations, including that they exclude the charges for the arbitration panel award, which is an amount that the company may ultimately have to pay in cash. Furthermore, the final outcome of our litigation relating to the patent license dispute depends on a number of complex factors, including whether we receive favorable rulings in pending proceedings and other factors. Therefore, the final amount of the loss may be more than the amount we have recognized. Accordingly, these measures should be considered in addition to, and not as a substitute for, or superior to, net sales, gross margin, net income and earnings per diluted share prepared in accordance with U.S. GAAP. Below is the reconciliation of adjusted gross margin, adjusted net income and adjusted earnings per diluted share to U.S. GAAP gross margin, net income and earnings per diluted share.

非公认会计原则财务指标调节:
Q3 2013
Gross margin 18.4 %
Plus: Loss contingency divided by net sales 1.三 %
调整后毛利率 19.7 %
(In millions)
净利润增长 $ 25
Plus: Loss contingency, net of tax 10
Adjusted net income $ 三5
Earnings per diluted share $ 0.11
加:稀释每股损失或有费用 0.04
Adjusted earnings per diluted share $ 0.15

AMKOR TECHNOLOGY, INC.

合并损益表

(Unaudited)

For the Three Months Ended
September 30,

For the Nine Months Ended
September 30,

2014 2013 2014 2013
(In thousands, except per share data)
Net sales $ 812,824 $ 767,987 $ 2,276,327 $ 2,201,575
Cost of sales 659,607 626,979 1,843,576 1,807,235
毛利润 153,217 141,008 432,751 三94,340
Selling, general and administrative 61,600 64,347 191,698 189,524
Research and development 16,437 18,647 59,561 47,261
营业费用合计 78,037 82,994 251,259 236,785
Operating income 75,180 58,014 181,492 157,555
Interest expense 23,780 26,104 70,039 71,921
Interest expense, related party 1,243 1,243 3,727 7,927
Other (income) expense, net (9,626 ) (4,328 ) (15,289 ) 6,326
Total other expense, net 15,397 23,019 58,477 86,174
Income before taxes and equity in earnings of unconsolidated affiliate 59,783 三4,995 123,015 71,381
所得税费用 14,985 12,170 三2,425 5,961
Income before equity in earnings of unconsolidated affiliate 44,798 22,825 90,590 65,420
Equity in earnings of J-Devices 三,三72 三,179 29,169 4,679
净利润增长 48,170 26,004 119,759 70,099
净利润增长attributable to noncontrolling interests (1,073 ) (655 ) (2,508 ) (1,641 )
归属于Amkor的净收入 $ 47097年 $ 25,349 $ 117,251 $ 68,458
归属于Amkor的净收入per common share:
Basic $ 0.20 $ 0.12 $ 0.51 $ 0.38
Diluted $ 0.20 $ 0.11 $ 0.50 $ 0.33
Shares used in computing per common share amounts:
Basic 236,337 216,499 228,733 176,839
Diluted 237509年 235,143 236,672 235,119

AMKOR TECHNOLOGY, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

September 30,
2014

December 31,
2013

(In thousands)
资产
流动资产:
Cash and cash equivalents $ 485,592 $ 610,442
Restricted cash 2,681 2,681
应收账款,扣除备抵 483,330 385,542
Inventories 229,557 200,423
其他流动资产 69,225 三三,三28
流动资产总额 1,270,385 1,232,416
物业、厂房及设备净值 2,258,870 2,006,553
投资 128,444 105,214
Restricted cash 2,209 2,234
Other assets 100,033 80,881
Total assets $ 3,759,941 $ 3,427,298
LIABILITIES AND EQUITY
流动负债:
短期借款和长期债务的流动部分 $ 10,000 $ 61,350
Trade accounts payable 626,609 三65,334
Accrued expenses 292,619 264,252
Total current liabilities 929,228 690,936
长期债务 1,450,969 1,516,390
长期债务,related party 75,000 75,000
Pension and severance obligations 158,793 165,073
Other non-current liabilities 14,881 14,959
Total liabilities 2,628,871 2,462,358
艾克尔stockholders’ equity:
Preferred stock
普通股 282 262
Additional paid-in capital 1,877,452 1,812,530
Accumulated deficit (530,097 ) (647348 )
累计其他综合损失 (17,478 ) (255 )
库存股 (212,797 ) (211,449 )
Amkor股东权益合计 1,117,362 953,740
Noncontrolling interests in subsidiaries 1三,708 11,200
权益总额 1,1三1,070 964,940
Total liabilities and equity $ 3,759,941 $ 3,427,298

AMKOR TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Nine Months Ended
September 30,

2014 2013
(In thousands)
Cash flows from operating activities:
净利润增长 $ 119,759 $ 70,099
折旧和摊销 340,089 三02,007
Loss on debt retirement 11,619
Gain on sale of subsidiary to J-Devices (9,155 )
Other operating activities and non-cash items (27,811 ) (12,728 )
Changes in assets and liabilities (17,214 ) 4,248
Net cash provided by operating activities 405,668 三75,245
Cash flows from investing activities:
Payments for property, plant and equipment (442,308 ) (402,004 )
出售物业、厂房及设备所得款项 2,170 26,505
收购业务,扣除收购现金 (41,865 )
出售子公司转让给J-Devices的现金(扣除收益) (15,774 )
Payments from J-Devices 8,843
投资J-Devices (67,372 )
Other investing activities (三89 ) (1,015 )
Net cash used in investing activities (456,301 ) (476,908 )
Cash flows from financing activities:
Borrowings under revolving credit facilities 5,000
Payments under revolving credit facilities (5,000 )
Proceeds from issuance of long-term debt 80,000 293,000
Payments of long-term debt (140,000 )
Payments for debt issuance costs (三,216 )
Payments for the retirement of debt (11,619 )
Payment of deferred consideration for an acquisition (18,763 )
Proceeds from the issuance of stock through share-based compensation plans 5,826
Payments of tax withholding for restricted shares (1,三48 ) (234 )
Net cash (used in) provided by financing activities (74,285 ) 277,931
Effect of exchange rate fluctuations on cash and cash equivalents 68 1,994
Net (decrease) increase in cash and cash equivalents (124,850 ) 178,262
期初现金及现金等价物 610,442 413,048
期末现金及现金等价物 $ 485,592 $ 591,310

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:

  • 半导体工业的高度不可预测性和周期性;bob软件
  • 与生产能力相关的订单时间和数量,以及无法实现高产能利用率、控制成本和提高盈利能力的情况;
  • 消费者需求的波动性、客户的双重预订以及我们的客户对包含我们的半导体封装的产品的预测恶化,包括智能手机或其他移动设备的需求放缓或客户预测的变化;bob软件
  • delays, lower manufacturing yields and supply constraints relating to wafers, particularly for advanced nodes and related technologies;
  • dependence on key customers and the impact of changes in our market share and prices for our services with those 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、服务客户需求的额外产能和设施的需求以及经营或融资产生的现金流的可用性;
  • the effect of the global economy on credit markets, financial institutions, customers, suppliers and consumers, including the uncertain macroeconomic environment;
  • the highly unpredictable nature and costs of litigation and other legal activities and the risk of adverse results of such matters, including the final outcome in the pending patent license litigation and the impact of other legal proceedings;
  • the negative impact on economic growth resulting from the action or inaction of the U.S. government relating to federal income tax increases for individuals or corporations, the federal debt ceiling, the federal deficit and government spending restrictions or shutdowns;
  • 的变化tax rates and taxes as a result of changes in U.S. or foreign 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 an economic slowdown in China,the U.S. and other major economies worldwide;
  • disruptions in our business or deficiencies in our controls resulting from the integration of newly acquired operations or the implementation and security of, and changes to, our enterprise resource planning, factory shop floor systems and other management information systems;
  • economic effects of terrorist attacks, natural disasters and military conflict;
  • competition, competitive pricing and declines in average selling prices;
  • fluctuations in manufacturing yields;
  • dependence on international operations and sales and exchange rate fluctuations;
  • dependence on raw material and equipment suppliers and changes in raw material and precious metal costs;
  • 对关键人员的依赖;
  • 执行和遵守知识产权;
  • environmental and other governmental regulations; and
  • technological challenges.

本公司截至2013年12月31日止年度的10-K表年度报告以及本公司随后提交给董事会的文件中讨论了其他可能影响本报表所述事件结果以及可能影响本公司经营成果和财务状况的重要风险因素 Securities and Exchange Commissionmade prior to or after the date hereof. 艾克尔无义务审查或更新任何前瞻性声明,以反映本新闻稿日期后发生的事件或情况。

Source: 艾克尔Technology, Inc.

艾克尔Technology, Inc.
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
or
格雷格·约翰逊
投资者关系和企业传播高级总监
480-786-7594
greg.johnson@www.chenyuhi.com