AMKR - Amkor shares gain as smartphones auto drive Q4 upside

Amkor Technology (AMKR) shares gain 1.6% after hours on Q4 beats with EPS of $0.52, which was $0.14 above consensus estimates.Net sales were up 16% Y/Y to $1.37B.Gross margin was 20% compared to 18.9% in last year's quarter. Operating margin was 11.6%.Adjusted EBITDA improved from $244M to $288M.The company ended the quarter with $832M in cash and equivalents and $1.15B in debt.“Better than expected demand for smartphone and automotive products drove fourth quarter revenue up 16% year on year to a record $1.37 billion,” says CEO Giel Rutten. “For full year 2020, we delivered record revenue of $5.05 billion, an increase of nearly $1 billion over 2019. Demand for advanced packages, particularly advanced SiP, drove strong growth in the consumer, communications and computing end markets.”For Q1, Amkor expects net sales of $1.27-1.37B (consensus: $1.2BB), gross margin of 17-20%, and $0.29-0.48 diluted EPS (consensus: $0.20).Full-year capex is expected around $700M.Press release.

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Amkor shares gain as smartphones, auto drive Q4 upside