TEMPE, Ariz.--(BUSINESS WIRE)--Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, and GlobalFoundries (GF), one of the world’s leading semiconductor manufacturers, will officially kick off their strategic partnership in Europe with a ribbon cutting ceremony at Amkor’s Porto, Portugal, facility on January 16, 2024. Since February 2023, GF has transferred 50 tools from its Dresden site to Amkor in Porto, with first customer products being qualified on th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-29472 AMKOR TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) Delaware 23-1722724 (State of incorporation) (I.R.S ...

Amkor Technology, Inc. (NASDAQ:AMKR) Q3 2023 Earnings Call Transcript October 30, 2023 5:00 PM ET Company Participants Jennifer Jue - Head of Investor Relations Giel Rutten - Chief Executive Officer Megan Faust - Chief Financial Officer Conference Call Participants Tom Diffely - D.A. Davidson Randy Abrams - UBS Steve Barger - KeyBank Capital Markets Operator Good day, ladies and gentlemen, and welcome to the Amkor Technology Third Quarter 2023 Earnings Conference Call. My name is Diego and I will be your co ...

Amkor Technology, Inc. Q3 2023 Earnings Call October 30, 2023 © 2023 Amkor Technology, Inc. 1 Presenter Introductions Jennifer Jue Vice President, Investor Relations Giel Rutten President and Chief Executive Officer Megan Faust Executive Vice President and Chief Financial Officer © 2023 Amkor Technology, Inc. 2 Disclaimer Non-GAAP Measures This presentation contains certain measures that are not defined terms under U.S. generally accepted accounting principles ("GAAP"). These non-GAAP measures should not be ...

Amkor Technology, Inc. (NASDAQ:AMKR) Q2 2023 Earnings Conference Call July 31, 2023 5:00 PM ET Company Participants Jennifer Jue - Head of Investor Relations Giel Rutten - Chief Executive Officer Megan Faust - Chief Financial Officer Conference Call Participants Randy Abrams - Credit Suisse Tom Diffely - D.A. Davidson Operator Good day, ladies and gentlemen and welcome to the Amkor Technology Second Quarter 2023 Earnings Conference Call. My name is Diego and I will be your conference facilitator today. [Ope ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-29472 AMKOR TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) Delaware 23-1722724 (State of incorporation) (I.R.S. Emp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-29472 AMKOR TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) Delaware 23-1722724 (State of incorporation) (I.R.S. Em ...

Amkor Technology, Inc. (NASDAQ:AMKR) Q1 2023 Earnings Conference Call May 2, 2023 5:00 PM ET Company Participants Jennifer Jue - Head of Investor Relations Giel Rutten - Chief Executive Officer Megan Faust - Chief Financial Officer Conference Call Participants Randy Abrams - Credit Suisse Tom Diffely - D.A. Davidson Operator Good day ladies and gentlemen and welcome to the Amkor Technology First Quarter 2023 Earnings Conference Call. My name is Diego and I will be your conference facilitator today. [Operato ...

Revenue and Sales Performance - Net sales increased by $953.3 million (15.5%) to $7,091.6 million in 2022 compared to $6,138.3 million in 2021, driven by higher sales of advanced products across all end markets[208] - Sales in the communications end market represented 61% of the net sales increase, driven by content and market share gains within premium tier 5G smartphones[214] - The automotive and industrial end market represented 18% of the net sales increase, driven by increased silicon content in vehicles for advanced features like ADAS and infotainment[214] - Net sales for 2022 reached $7.091 billion, a 15.5% increase from $6.138 billion in 2021[291] - Direct sales to the two largest customers accounted for 20.6% and 10.1% of net sales for the year ended December 31, 2022[317] Profitability and Margins - Gross margin decreased to 18.8% in 2022 from 20.0% in 2021, primarily due to higher material content in products sold and underutilization of the Shanghai factory during the second quarter[208] - Operating income margin expanded by 30 basis points to 12.7% in 2022 from 12.4% in 2021, driven by favorable foreign currency exchange rate movements[209] - Gross profit for 2022 was $1.329 billion, up 8.5% from $1.225 billion in 2021[291] - Operating income in 2022 grew 17.5% to $897.186 million compared to $763.433 million in 2021[291] - Net income attributable to Amkor for 2022 was $765.823 million, a 19.1% increase from $642.995 million in 2021[291] - Basic earnings per share for 2022 were $3.13, up from $2.64 in 2021[291] - Net income for 2022 was $767.04 million, an increase from $645.61 million in 2021 and $340.50 million in 2020[294] - Comprehensive income attributable to Amkor for 2022 was $762.54 million, compared to $635.70 million in 2021 and $346.29 million in 2020[294] - Net income attributable to Amkor common stockholders increased from $643.0 million in 2021 to $765.8 million in 2022[390] - Basic earnings per share increased from $2.64 in 2021 to $3.13 in 2022, while diluted earnings per share increased from $2.62 to $3.11[390] Capital Expenditures and Investments - Capital expenditures totaled $908.3 million (12.8% of net sales) in 2022, primarily focused on investments in advanced packaging and test equipment and a new manufacturing facility in Bac Ninh, Vietnam[209] - The Bac Ninh facility in Vietnam is expected to begin production in the fourth quarter of 2023, providing a cost-competitive high-volume manufacturing location with supply chain diversification[202] - Capital expenditures totaled $908.3 million in 2022, representing approximately 12.8% of net sales, with an expected $800 million in capital expenditures for 2023[241][242] - Payments for property, plant, and equipment in 2022 were $908,294, up from $779,779 in 2021[247] - Payments for property, plant and equipment in 2022 were $908,294 thousand, a 16.5% increase from $779,779 thousand in 2021[303] Cash Flow and Liquidity - Net cash provided by operating activities was $1,098.8 million in 2022, a decrease from $1,121.3 million in 2021, primarily due to changes in working capital and advanced payments[209] - The company paid total quarterly cash dividends of $55.1 million in 2022, with a 50% increase in the quarterly dividend rate to $0.075 per share[210] - The company held $1.24 billion in cash and cash equivalents and short-term investments as of December 31, 2022, with $1.09 billion held offshore by foreign subsidiaries[229] - Operating cash flow decreased by $22.5 million to $1.10 billion in 2022 compared to $1.12 billion in 2021, primarily due to changes in working capital and advanced payments[244] - The company paid $55.1 million in total quarterly cash dividends in 2022 and anticipates continuing quarterly dividend payments in the future[239] - Free cash flow for 2022 was $193,610, a decrease from $344,777 in 2021, calculated as net cash from operating activities minus payments for property, plant, and equipment plus proceeds from asset sales[247] - Net cash provided by operating activities in 2022 was $1,098,756, slightly lower than $1,121,295 in 2021[247] - Cash flow used in investing activities increased by $63.3 million in 2022 compared to 2021, primarily due to higher payments for property, plant, and equipment and foreign exchange forward contracts[245] - Cash, cash equivalents and restricted cash at the end of 2022 were $962,406 thousand, a 15.7% increase from $831,521 thousand at the end of 2021[303] - Proceeds from issuance of long-term debt in 2022 were $366,386 thousand, a 3.6% increase from $353,587 thousand in 2021[303] - Cash paid for income taxes in 2022 was $97,333 thousand, a 305.3% increase from $24,011 thousand in 2021[305] Debt and Interest - Interest expense increased to $58.6 million in 2022, up 13.7% from $51.5 million in 2021, driven by higher finance lease obligations, increased average outstanding debt, and rising interest rates[221] - Interest income rose to $12.8 million in 2022, a significant increase from $1.1 million in 2021, primarily due to higher interest rates on available-for-sale debt investments[222] - The company had $1.23 billion in total debt as of December 31, 2022, with $143.8 million payable within 12 months and interest payment obligations of $219.6 million over the remaining term[233] - Total debt maturities for 2023 are $143.813 million, with fixed rate debt accounting for $133.771 million and variable rate debt for $10.042 million[270] - The average interest rate for fixed rate debt in 2023 is 1.3%, increasing to 1.8% by 2026 and 6.0% in 2027[270] Taxes - Income tax expense increased to $89.9 million in 2022, up from $69.5 million in 2021, with an effective tax rate of 10.5% compared to 9.7% in 2021[223] - Income tax expense for 2022 was $89.89 million, compared to $69.459 million in 2021[291] - The company recorded net deferred tax assets of $78.2 million and unrecognized tax benefits of $33.3 million as of December 31, 2022[284] - Deferred tax assets decreased from $285.9 million in 2021 to $277.9 million in 2022, with a valuation allowance of $101.9 million in 2022 compared to $122.4 million in 2021[376] - Net deferred tax assets increased from $72.6 million in 2021 to $78.2 million in 2022[376] - U.S. federal NOLs decreased from $21.4 million in 2021 to $13.0 million in 2022, with expiration dates between 2023-2024[380] - Foreign NOLs increased significantly from $155.3 million in 2021 to $240.7 million in 2022, with expiration dates between 2024-2036[380] - U.S. foreign tax credits decreased from $57.2 million in 2021 to $54.1 million in 2022, with expiration dates between 2026-2032[381] - Unrecognized tax benefits decreased by $4.0 million from $37.3 million in 2021 to $33.3 million in 2022, primarily due to settlements and the lapse of statutes of limitations[385] Research and Development - Research and development expenses decreased by $16.6 million (10.0%) in 2022, primarily due to favorable foreign currency exchange rate movements and projects moving into production[220] - Research and development costs are expensed as incurred and include labor, materials, and facility-related expenses[344] Shareholder Equity and Dividends - The company has a stock repurchase program with $91.6 million remaining available for repurchases as of December 31, 2022[240] - Total stockholders' equity grew from $1.99 billion in 2019 to $3.70 billion in 2022[300] - Retained earnings increased from $234.1 million in 2019 to $1.87 billion in 2022[300] - Cash dividends declared per common share increased from $0.04 in 2020 to $0.225 in 2022[300] - Share-based compensation expenses were $8.0 million in 2020, $11.0 million in 2021, and $13.6 million in 2022[300] - Treasury stock cost decreased from $217.5 million in 2019 to $219.2 million in 2022[300] - Accumulated other comprehensive income (loss) fluctuated from $19.1 million in 2019 to $16.7 million in 2022[300] - Noncontrolling subsidiaries' interest in total equity increased from $26.5 million in 2019 to $30.9 million in 2022[300] Foreign Exchange and Hedging - Foreign currency appreciation of 10% against the U.S. dollar would have reduced operating income by approximately $133 million in 2022[264] - Approximately 90% of net sales in 2022 were denominated in U.S. dollars, with the remaining primarily in Japanese yen[264] - 55% of cost of sales and operating expenses in 2022 were denominated in U.S. dollars, with the rest in Asian currencies[264] - Foreign exchange rate translation resulted in a loss of $10.7 million in 2022, recognized in other comprehensive income[265] - The company uses natural hedging techniques and forward contracts to mitigate foreign currency risk[262] - A 10% appreciation of foreign currencies against the U.S. dollar would have reduced income before taxes by approximately $11 million in 2022[263] Assets and Liabilities - Total assets increased to $6.82 billion in 2022 from $6.04 billion in 2021[297] - Current assets rose to $3.30 billion in 2022, up from $2.86 billion in 2021[297] - Cash and cash equivalents grew to $959.07 million in 2022 from $826.74 million in 2021[297] - Accounts receivable increased to $1.37 billion in 2022 from $1.26 billion in 2021[297] - Inventories rose to $629.58 million in 2022, up from $484.96 million in 2021[297] - Total liabilities were $3.12 billion in 2022, slightly up from $3.07 billion in 2021[297] - Retained earnings increased to $1.87 billion in 2022 from $1.16 billion in 2021[297] - Total equity grew to $3.70 billion in 2022 from $2.97 billion in 2021[297] - The combined book value of assets and liabilities associated with Philippine realty corporations was $17.2 million and $0.1 million, respectively, as of December 31, 2022[311] - Unbilled receivables as of December 31, 2022, were $301.7 million, up from $224.7 million in 2021[341] - Contract liabilities as of December 31, 2022, were $170.6 million, with $81.5 million classified as short-term[343] Share-Based Compensation - Share-based compensation for 2022 was $13.6 million, with deferred income tax benefits of $1.7 million[348] - The 2021 Equity Incentive Plan has 21.9 million shares available for grant as of December 31, 2022[351] - Stock options are generally granted with an exercise price equal to the market price at the grant date and vest over one to four years[352] - The company used the Black-Scholes option pricing model to calculate the fair value of stock options, with expected volatilities based on historical stock performance and a risk-free interest rate based on the U.S. Treasury yield curve[353] - As of December 31, 2022, the company had 2,376 thousand stock options outstanding with a weighted-average exercise price of $10.54 per share and a remaining contractual term of 5.86 years[355] - The total intrinsic value of options exercised during fiscal year 2022 was $8.0 million, compared to $17.7 million in 2021 and $8.2 million in 2020[358] - The company had $1.2 million in unrecognized compensation expense from stock options as of December 31, 2022, expected to be recognized over 0.9 years[358] - Restricted shares granted to non-employee directors vest over one year, while other restricted shares vest ratably over three years, with 8.33% vesting quarterly[359] - As of December 31, 2022, the company had 109 thousand non-vested restricted shares with a weighted-average grant date fair value of $15.38 per share[360] - The company had $1.3 million in unrecognized compensation expense from restricted shares as of December 31, 2022, expected to be recognized over 0.6 years[360] - The company granted 531 thousand RSUs in 2022, with a weighted-average grant date fair value of $22.29 per share[364] - The company had $6.4 million in unrecognized compensation expense from RSUs and PSUs as of December 31, 2022, expected to be recognized over 1.6 years[364] Investments and Fair Value - Total cash equivalents for 2022 amounted to $195.53 million, with $108.42 million classified as Level 1 and $87.11 million as Level 2[394] - Short-term investments for 2022 totaled $279.27 million, with $24.05 million classified as Level 1 and $253.54 million as Level 2[394] - Total fair value of cash equivalents and short-term investments for 2022 was $473.12 million, with $132.47 million in Level 1 and $340.66 million in Level 2[394] - Total cash equivalents for 2021 amounted to $284.17 million, with $273.25 million classified as Level 1 and $10.92 million as Level 2[396] - Short-term investments for 2021 totaled $247.26 million, with $15.03 million classified as Level 1 and $231.80 million as Level 2[396] - Total fair value of cash equivalents and short-term investments for 2021 was $531.00 million, with $288.29 million in Level 1 and $242.71 million in Level 2[396] - The company sold cash equivalent investments for proceeds of $29.6 million in 2022, $12.8 million in 2021, and $27.1 million in 2020, with no realized gain or loss[397] Depreciation and Amortization - Depreciation and amortization expenses in 2022 were $612,702 thousand, an 8.7% increase from $563,582 thousand in 2021[303] Other Financial Metrics - The company's foreign subsidiaries had $615.0 million available for future borrowings under revolving credit facilities as of December 31, 2022[232] - The company's income before taxes for 2022 was $856.9 million, with $775.4 million coming from foreign sources and $81.5 million from the United States[368] - Net income for 2020 was $340.5 million, with $338.1 million attributable to Amkor stockholders and $2.4 million to noncontrolling interests[300] - Net income for 2021 increased to $645.6 million, with $643.0 million attributable to Amkor stockholders and $2.6 million to noncontrolling interests[300] - Net income for 2022 further increased to $767.0 million, with $765.8 million attributable to Amkor stockholders and $1.2 million to noncontrolling interests[300] - Net cash provided by operating activities in 2022 was $1,098,756 thousand, a decrease of 2.0% compared to $1,121,295 thousand in 2021[303] - Net income for 2022 was $767,042 thousand, an increase of 18.8% from $645,607 thousand in 2021[303] - Share-based compensation in 2022 was $13,562 thousand, a 23.6% increase from $10,970 thousand in 2021[303] - Cash and cash equivalents are primarily maintained in U.S. and foreign bank accounts, money market funds, and commercial paper[321] - Restricted cash includes short-term cash equivalents for collateralizing daily banking services and non-current collateral for foreign trade compliance[322] - Short-term investments in fixed income securities are classified as available-for-sale debt investments, recorded at fair value[323] - Inventories are stated at the lower of cost and net realizable value, with costs determined by standard cost or weighted moving average methods[325]

Amkor Technology, Inc. (NASDAQ:AMKR) Q4 2022 Earnings Conference Call February 13, 2023 5:00 PM ET Company Participants Jennifer Jue - Head of IR Giel Rutten - CEO Megan Faust - CFO Conference Call Participants Randy Abrams - Credit Suisse Tom Diffely - D.A. Davidson Operator Good day, ladies and gentlemen, and welcome to the Amkor Technology Fourth Quarter and Full Year 2022 Earnings Conference Call. My name is Diego, and I will be your conference facilitator today. At this time, all participants are in a ...