Amkor Technology misses Q2 and guidance estimates; shares down 5.5%

Published 07/31/2017, 05:37 PM
© Reuters.  Amkor Technology misses Q2 and guidance estimates; shares down 5.5%
AMKR
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  • Amkor Technology (NASDAQ:AMKR) reports Q2 with revenue and EPS misses. Advanced product sales were up 12.5% on the year to $431M and Mainstream product sales were up 5% to $558M.
  • Notable events: Amkor completed the acquisition of wafer-level packaging company Nanium in May and sold the K1 factory in Korea for $142M, recognized as a $82M after-tax gain.
  • Q3 outlook puts net sales between $1.04B and $1.12B, which represents a year-over-year growth of 5% to 13%. Consensus estimates put revenue at $1.16B. Amkor also expects gross margin of 17% to 20%.
  • Press release
  • Amkor shares are down 5.5% aftermarket.
  • Previously: Amkor Technology misses by $0.09, misses on revenue (July 31)
  • Now read: United: Time To Land?


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