Amkor Technology Q2 Profit Jumps

(RTTNews) - Amkor Technology Inc. (AMKR) on Monday reported an increase in profit for the second quarter, driven by double-digit revenue growth reflecting strength in its Computing and Automotive & Industrial end markets. The semiconductor packaging and test services provider also issued upbeat guidance for the third quarter.

For the second quarter, net income increased to $173.8 million or $0.70 per share from $54.4 million or $0.22 per share in the prior-year quarter.

Quarterly net sales rose 26% to a record $1.90 billion from $1.51 billion last year. Gross margin rose to 16.8% from 12.0%.

For the third quarter, Amkor expects net sales of $1.95 billion to $2.05 billion, gross margin of 18.5% to 19.5%, and earnings of $0.72 to $0.82 per share.