AMKR - Amkor reports record Q3 sales upside forecast on auto and communications recoveries

Amkor (AMKR) shares are up 3.4% AH reported Q3 beats with record net sales of $1.35B, up 25% Y/Y and 15% Q/Q.Gross margin was 17.8% compared to 16.4% in Q2 and 16.8% in last year's quarter.Operating income margin was 9.4% vs. 7.4% in Q2 and 7.3% last year.EBITDA totaled $255M, up from $209M in Q3 2019.Net debt now totals $400M, the lowest level since the company went public.The company initiates a regular quarterly cash dividend of $0.04/share."Stronger than expected demand in the communications and automotive and industrial end markets drove revenue above the high end of our guidance. The Board’s decision to initiate a dividend is a significant milestone for Amkor. Over the past several years, Amkor has capitalized on growth opportunities in advanced packaging technologies that target 5G, advanced automotive systems, IoT and high-performance computing, and the introduction of a regular cash dividend reflects our consistent operating performance, strong free

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Amkor reports record Q3 sales, upside forecast on auto and communications recoveries