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
"We delivered record sales this quarter, driven by gains in the mobile device market," said
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 million in the third quarter of 2013. Second quarter 2014 net income includes a net gain of1800万美元 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$0.15 in the third quarter of 2013. Second quarter 2014 earnings per diluted share includes$0.08 related 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
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
现金及现金等价物
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 $0.17 per diluted share - Full year 2014 capital expenditures of around
$675 million
电话会议信息
关于
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 | — | 三 | 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
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. |
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合并损益表 |
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(Unaudited) |
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For the Three Months Ended |
For the Nine Months Ended |
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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. |
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CONSOLIDATED BALANCE SHEETS |
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(Unaudited) |
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September 30, |
December 31, |
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(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. |
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
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(Unaudited) |
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For the Nine Months Ended |
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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
Source:
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