Post-Earnings Snapshots and Review - Amkor Technology

LONDON, November 13, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings review on Amkor Technology Inc. (NASDAQ: AMKR). On October 27, 2014, the company reported its financial results for Q3 FY14 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Amkor Technology Inc. (Amkor). Steve Kelley, Amkor's President and CEO, announced that during Q3 FY14 the company's sales grew 6% sequentially and year-over-year, following a 10% sequential growth in Q2 FY14. Amkor's diluted EPS also saw an increase of $0.09 from Q3 FY13. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, Amkor reported net sales of $812.82 million compared to $767.99 million in Q3 FY13. The company's net sales during the reported quarter came below Bloomberg analysts' forecast of $843.33 million. The company's gross margin for Q3 FY14 increased marginally to 18.8% from 18.4% in Q3 FY13. Further, operating income increased to $75.18 million, from $58.01 million in Q3 FY13. The company's net income increased to $47.10 million, or $0.20 per diluted share, in Q3 FY14, from $25.35 million, or $0.11 per diluted share in Q3 FY13. Analysts from Bloomberg had expected the company to report net income of $57.20 million, or $0.23 per diluted share, in Q3 FY14. The free research on AMKR can be downloaded as in PDF format at:

www.Investor-Edge.com/AMKRFreeReport

Commenting on the results, Mr. Kelley stated that the company delivered record sales in Q3 FY14, driven by gains in the mobile device market. He further informed that the company had expected even stronger growth in Q3 FY14, but fell short of its goal, primarily due to reduced demand for high-end Android smartphones. The company's CEO added that looking ahead to Q4 FY14, the company sees growth in mobile communications, offset by seasonal declines in the consumer, computing and industrial end markets.

Amkor's Executive Vice President and Chief Financial Officer Ms. Joanne Solomon said that although the company saw solid sales growth in the quarter, gross profit remained flat as Amkor invested in its infrastructure ahead of the originally expected higher levels of demand. Sign up and read the free analyst's notes on AMKR at:

www.Investor-Edge.com/AMKR-13112014

For Q4 FY14, the company expects net sales of $755 million to $805 million, down 1% to 7% from the prior quarter, and net income of $17 million to $41 million, or $0.07 to $0.17 per diluted share. For FY14, the company anticipates net sales of $3,030 million to $3,080 million, up 3% to 4% from the prior-year. The company also expects capital expenditures to be around $675 million for FY14.

Stock Performance 

On the day following the earnings release, October 28, 2014, Amkor's stock saw a sharp decline of 15.49%, and ended the session at $6.33. The stock has witnessed both positive and negative movements since then, and on the last close, Wednesday, November 12, 2014, it finished at $6.44, down 1.23%, after vacillating between $6.32 and $6.54. A total of 0.93 million shares were traded, which was below its three months average volume of 1.71 million shares. Over the previous three trading sessions and from the beginning of 2014, the company's shares have advanced 0.78% and 5.06%, respectively. However, the stock has fallen by 10.31% over the last one month. Amkor's shares closed below their 50-day and 200-day moving averages of $8.04 and $8.40, respectively. Furthermore, the stock traded at a PE ratio of 9.68 and has a Relative Strength Index (RSI) of 41.24. Visit Investor-Edge and access the latest research on AMKR at:

www.Investor-Edge.com/AMKREarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month, there were four insider transactions by four individuals. On November 01, 2014, John Charles Stone, EVP-Global Sales and Marketing at Amkor, sold 313 shares of the company at a price of $6.78 per share. On the same day, Gil C. Tily, EVP, Chief Administrative Officer, General Counsel at Amkor, and Joanne Solomon, EVP and CFO of Amkor, sold 730 and 626 shares of the company, respectively, at a price of $6.78 per share. Additionally, on November 08, 2014, Stephen D. Kelley, President and CEO of Amkor, disposed 22,477 shares of the company at a price of $6.39 per share. Complimentary in-depth research on AMKR is available at:

www.Investor-Edge.com/AMKRInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

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