Stock Monitor: Semtech Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 19, 2018 / Active-Investors.com has just released a free earnings report on Amkor Technology, Inc. (NASDAQ: AMKR) ("Amkor"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AMKR. The Company reported its financial results on February 12, 2018, for the fourth quarter and for the full fiscal year ended December 31, 2017. The Company's performance in the fourth quarter of 2017 (Q4 FY17) was above the high end of its guidance. In the reported quarter, the Company gained from the completion of its Japan factory consolidation, CapEx discipline, and prudent asset management. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Amkor Technology most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For Q4 FY17, Amkor's total revenues reached $1.15 billion, an increase of 12.41% from $1.02 billion in Q4 FY16. The Company's sales grew 1.2% y-o-y, sequentially, led by strong demand across all end markets, especially mobile communications, along with a solid execution on Amkor's strategic initiatives in automotive, Greater China, and advanced System-in-Package (SiP). The Company's revenue numbers exceeded analysts' consensus estimates of $1.09 billion.
During Q4 FY17, Amkor's total cost of sales was $922.93 million compared to $794.43 million in Q4 FY16, reflecting an increase of 16.18%. The Company's gross profit fell 0.75% to $225.49 million in the reported quarter from $227.19 million in the year ago same quarter. Amkor's gross margin declined to 19.64% in Q4 FY17 from 22.24% in Q4 FY16.
Amkor's incurred total operating expenses of $115.37 million in Q4 FY17, up 14.79% from $100.50 million in Q4 FY16. The Company's selling, general, and administrative expenses (SG&A) hiked 14.79% to $77.41 million y-o-y, and research and development (R&D) expenses increased 14.81% to $37.96 million y-o-y in Q4 FY17. The Company had an operating income of $110.13 million in the reported quarter versus $126.69 million in the year ago comparable quarter, reflecting a decrease of 13.07%. The Company's operating margin was 9.59% in Q4 FY17, down 281 basis points from Q4 FY16.
Amkor's net income attributable to common shareholders was $100.77 million in the quarter ended December 31, 2017, a slight increase of 0.51% from $100.26 million in Q4 FY16. Amkor's diluted income per share attributable to common shareholders was $0.42 in Q4 FY17, the same as in Q4 FY16. The Company's reported income in Q4 FY17 included an estimated one-time net tax benefit due to the reversal of a valuation allowance on certain US deferred tax assets as a result of the enactment of the US tax reform. On the other hand, the results in Q4 FY16 included benefits from insurance proceeds related to the second quarter 2016 Japan earthquakes. Amkor's earnings before interest, tax, depreciation, and amortization (EBITDA), excluding these special items, were $256 million for the quarter under review compared to $281 million in Q4 FY16, reflecting a decrease of 8.9%.
For the year ended December 31, 2017, Amkor generated record sales of $4.19 billion, an increase of 7.52% from $3.89 billion in FY16. The Company reported a gross profit of $757.27 million in FY17, which was an increase of 8.89% from the previous year. Amkor's net income attributable to common shareholders was $260.71 million in FY17, up 58.78% from $164.19 million in FY16. Amkor's diluted income per share attributable to common shareholders was $1.09 in FY17, an increase of 57.97% from $0.69 in FY16. The Company's adjusted EBITDA, excluding special items, were $971 million in FY17, up 13.57% from $855 million in FY16.
Segment Details
During Q4 FY17, Amkor's Advanced Products segment reported revenues of $581 million, up 28.82% from $451 million in Q4 FY16. The segment's revenues accounted for 50.61% of the total sales of Amkor in Q4 FY17 compared to 44.13% in Q4 FY16.
Amkor's Mainstream Products segment reported revenues of $567 million in Q4 FY17, a decrease of 0.70% from $571 million in Q4 FY16. The segment's revenues accounted for 49.39% of the total sales of Amkor in Q4 FY17 compared 55.87% in Q4 FY16.
Cash Matters
Amkor had cash and cash equivalents of $596.36 million as on December 31, 2017, 8.52% higher than $549.52 million as on December 31, 2016. The Company's long-term debt was $1.24 billion as on December 31, 2017, compared to $1.36 billion as on December 31, 2016.
For the twelve months ended December 31, 2017, Amkor's net cash flow from operating activities was $618.27 million, a decline of 15.24% from $729.4 million in FY16. The Company had a free cash flow of $76 million in Q4 FY17, a decline of 35.04% from $117 million in Q4 FY16.
Outlook
For the first quarter of FY18, Amkor expects net revenues of $0.98 billion to $1.06 billion, which is an increase of 7% to 16% from Q1 FY17. The Company anticipates a gross margin of 14% to 16% for Q1 FY18. Amkor expects earnings to be in the range of negative $5 million, or negative $0.02 per share, to positive $25 million, or positive $0.11 per share, in Q1 FY18. Amkor anticipates capital expenditure of around $600 million for the full fiscal year 2018.
Stock Performance Snapshot
March 16, 2018 - At Friday's closing bell, Amkor Technology's stock slightly climbed 0.36%, ending the trading session at $11.29.
Volume traded for the day: 1.42 million shares, which was above the 3-month average volume of 964.05 thousand shares.
Stock performance in the last month - up 9.51%; previous three-month period - up 11.01%; past twelve-month period - up 3.11%; and year-to-date - up 12.34%
After last Friday's close, Amkor Technology's market cap was at $2.69 billion.
Price to Earnings (P/E) ratio was at 12.35.
The stock is part of the Technology sector, categorized under the Semiconductor - Integrated Circuits industry.
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