Amkor Technology Q1 Profit Surges

(RTTNews) - Amkor Technology, Inc. (AMKR) Monday reported first-quarter net income of $120 million or $0.49 per share, up from $64 million or $0.26 per share last year.

Net sales for the quarter increased to $1.33 billion from $1.15 billion last year.

For the second quarter, the company expects net sales of $1.29 billion to $1.39 billion and earnings of $0.32 to $0.52 per share.

"Amkor delivered a first quarter revenue record of $1.33 billion, a 15% increase over the first quarter of last year," said Giel Rutten, Amkor's president and chief executive officer. "Continued strength in Advanced packaging and year-on-year growth of 13% in our Mainstream business led to better than seasonal results in Communications and to sequential growth in Automotive & Industrial, Consumer, and Computing end markets."