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Amkor Technology Reports Financial Results for the First Quarter 2025

TEMPE, Ariz.--(BUSINESS WIRE)-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Highlights

• Net sales $1.32 billion
• Gross profit $158 million, operating income $32 million
• Net income $21 million, earnings per diluted share $0.09
• EBITDA $197 million

鈥淎mkor delivered first quarter results in line with expectations, with revenue of $1.32 billion and EPS of $0.09,鈥� said Giel Rutten, Amkor鈥檚 president and chief executive officer. 鈥淲e are closely monitoring the evolving landscape with tariffs and trade regulations and potential impacts on our customers鈥� supply chains. Our diversified global footprint and long-standing partnerships allow us to help our customers work through complexity and uncertainty. Within this dynamic environment, our focus remains on staying agile and delivering value by executing on our long-term strategy.鈥�

Quarterly Financial Results

(1) EBITDA is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under 鈥淪elected Operating Data.鈥�

At March 31, 2025, total cash and short-term investments was $1.6 billion, and total debt was $1.1 billion.

The company paid a quarterly dividend of $0.08269 per share on April 2, 2025. The declaration and payment of future dividends, as well as any record and payment dates, are subject to the approval of the Board of Directors.

Business Outlook

The following information presents Amkor鈥檚 guidance for the second quarter 2025 (unless otherwise noted):

• Net sales of $1.375 billion to $1.475 billion
• Gross margin of 11.5% to 13.5%
• Net income of $17 million to $57 million, or $0.07 to $0.23 per diluted share
• Full year 2025 capital expenditures of approximately $850 million

Conference Call Information

Amkor will conduct a conference call on Monday, April 28, 2025, at 5:00 p.m. Eastern Time. This call may include material information not included in this press release. To access the live audio webcast and the accompanying slide presentation, visit the Investor Relations section of Amkor鈥檚 website, located at ir.amkor.com. The live call can also be accessed by dialing 1-877-407-4019 or 1-201-689-8337.

About Amkor Technology, Inc.

Amkor Technology, Inc. is the world's largest U.S. headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, computing, automotive and industrial and consumer markets, including smartphones, data centers, artificial intelligence, electric vehicles and wearables. Amkor's operational base includes production facilities, research and development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the United States. For more information visit amkor.com.

In this press release, we refer to EBITDA, which is not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. We believe EBITDA to be relevant and useful information to our investors because it provides additional information in assessing our financial operating results. Our management uses EBITDA in evaluating our operating performance, and our ability to service debt, fund capital expenditures and pay dividends. However, EBITDA has certain limitations in that it does not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore, our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of EBITDA to U.S. GAAP net income.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws. You are cautioned not to place undue reliance on forward-looking statements, which are often characterized by terminology such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渆xpects,鈥� 鈥減lans,鈥� 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渆stimates,鈥� 鈥減redicts,鈥� 鈥減otential,鈥� 鈥渃ontinue鈥� or 鈥渋ntend,鈥� by the negative of these terms or other comparable terminology or by discussions of strategy, plans or intentions. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements as a result of various factors, including, but not limited to, the following:

• dependence on the cyclical and volatile semiconductor industry and vulnerability to industry downturns and declines in global economic and financial conditions;

• changes in costs, quality, availability and delivery times of raw materials, components and equipment;

• fluctuations in operating results and cash flows;

• competition with established competitors in the packaging and test business, the internal capabilities of integrated device manufacturers and new competitors, including foundries and contract manufacturers;

• our substantial investments in equipment and facilities to support the demand of our customers;

• warranty claims, product return and liability risks, and the risk of negative publicity if our products fail, as well as the risk of litigation incident to our business;

• difficulty achieving the relatively high-capacity utilization rates necessary to realize satisfactory gross margins given our high percentage of fixed costs;

• our absence of backlog and the short-term nature of our customers鈥� commitments;

• the historical downward pressure on the prices of our packaging and test services;

• fluctuations in our manufacturing yields;

• a downturn or lower sales to customers in the automotive industry;

• dependence on key customers or concentration of customers in certain end markets, such as mobile communications and automotive;

• difficulty funding our liquidity needs;

• challenges with integrating diverse operations;

• dependence on international factories and operations and risks relating to trade restrictions and regional conflict, including restrictive trade barriers, export controls, tariffs, customs and duties;

• our ability to develop new proprietary technology, protect our proprietary technology, operate without infringing the proprietary rights of others and implement new technologies;

• our continuing development and implementation of changes to, and maintenance and security of, our information technology systems;

• restrictive covenants in the indentures and agreements governing our current and future indebtedness;

• our substantial indebtedness;

• fluctuations in interest rates and changes in credit risk;

• the ability of certain of our stockholders to effectively determine or substantially influence the outcome of matters requiring stockholder approval;

• the possibility that we may decrease or suspend our quarterly dividend;

• difficulty attracting, retaining or replacing qualified personnel;

• maintaining an effective system of internal controls;

• any changes in tax laws, taxing authorities not agreeing with our interpretation of applicable tax laws, including whether we continue to qualify for conditional reduced tax rates, or any requirements to establish or adjust valuation allowances on deferred tax assets;

• environmental, health and safety liabilities and expenditures;

• conditions and obligations in connection with the receipt of government awards and incentives; and

• natural disasters and other calamities, health conditions or pandemics, political instability, hostilities or other disruptions.

Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect our operating results and financial condition are discussed in the company鈥檚 Annual Report on Form 10-K for the year ended December 31, 2024 (the 鈥淔orm 10-K鈥�) and from time to time in our other reports filed with or furnished to the Securities and Exchange Commission (鈥淪EC鈥�). You should carefully consider the trends, risks and uncertainties described in this press release, the Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties continues or occurs, our business, financial condition or operating results could be materially and adversely affected, the trading prices of our securities could decline, and you could lose part or all of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law.

View source version on businesswire.com:

Jennifer Jue

Vice President, Investor Relations and Finance

480-786-7594

[email protected]

Source: Amkor Technology, Inc.