amkor technology inc (AMKR) Key Developments
Amkor Technology, Inc. Presents at Credit Suisse Boston Semiconductor Supply Chain Conference, Jun-10-2014 02:00 PM
Jun 9 14
Amkor Technology, Inc. Presents at Credit Suisse Boston Semiconductor Supply Chain Conference, Jun-10-2014 02:00 PM. Venue: Credit Suisse offices, 1 Federal Street, 18th floor, Boston, Massachusetts, United States. Speakers: Greg Johnson, Senior Director of Investor Relations & Corporate Communications, Stephen D. Kelley, Chief Executive Officer, President and Director.
Tessera Technologies to Receive $145 Million Arbitration Award from Amkor Technology
May 14 14
Tessera Technologies announced that International Court of Arbitration of the International Chamber of Commerce has ruled that it shall receive a total $145 million award from Amkor Technology. The company announced that the tribunal convened by the ICC found that Amkor had intentionally and materially breached the parties license agreement, and that, as a result, Tessera properly terminated the license agreement in 2011. Another arbitration hearing addressing claims that Amkor failed to pay royalties for the use of other Tessera patents will take place in June.
Amkor Technology, Inc. Presents at Barclays High Yield Bond & Syndicated Loan Conference, May-13-2014 07:30 AM
May 6 14
Amkor Technology, Inc. Presents at Barclays High Yield Bond & Syndicated Loan Conference, May-13-2014 07:30 AM. Venue: Arizona Biltmore, Phoenix, Arizona, United States. Speakers: Greg Johnson, Senior Director of Investor Relations & Corporate Communications.
Amkor Technology, Inc. Presents at Jefferies 2014 Global Technology, Media & Telecom Conference, May-06-2014 02:00 PM
Apr 29 14
Amkor Technology, Inc. Presents at Jefferies 2014 Global Technology, Media & Telecom Conference, May-06-2014 02:00 PM. Venue: Epic Hotel, 270 Biscayne Blvd., Miami, FL 33131, United States.
Amkor Technology, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter of 2014; Revised Capital Expenditures Guidance for 2014
Apr 28 14
Amkor Technology, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, net sales were $696 million against $687.5 million in the first quarter of 2013. Operating income was $45.4 million against $41.1 million last year. Income before taxes and equity in earnings of unconsolidated affiliate was $20.4 million against $17.7 million last year. Net income attributable to the company was $20.6 million or $0.09 per basic and diluted share compared to $13.4 million or $0.07 per diluted share in the first quarter of 2013. Net cash provided by operating activities was $131.9 million against $98.7 million last year. Purchases of property, plant and equipment was $96 million against $112.5 million last year. First quarter results were stronger than anticipated, driven by incremental demand for advanced packages.
Driven by stronger customer forecasts for mobile devices and continued momentum from growth initiatives, expectations for the second quarter and full year of 2014 have improved considerably. Accordingly, the company raised expectations for full year of 2014 capital expenditures to around $575 million plus or minus to capture these growth opportunities. The company expects an effective tax rate of around 22%. The company expects Amkor revenues to grow faster than the overall semiconductor market. The company expects to be free cash flow positive for 2014 with the strength of the business in the second half in support of mobile communications.
Based upon currently available information, the company has the following expectations for the second quarter of 2014: net sales of $735 million to $785 million, up 6% to 13% from the prior quarter and net income of $18 million to $43 million, or $0.08 per diluted share to $0.18 per diluted share.