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艾克尔Technology Reports Financial Results for the First Quarter 2019

First Quarter Highlights

  • 第一季度净销售 $895 million
  • Operating income $13 million
  • 净利润增长 ($23) million,earnings per diluted share ($0.10)
  • 息税折旧摊销前利润 153美元million

TEMPE, Ariz.--(BUSINESS WIRE)--May 2, 2019-- 艾克尔Technology, Inc.(NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the first quarter ended 2019年3月31日.

“我们对第一季度的经营结果超出了预期，毛利率高于我们指导的高端，” Steve Kelley, 艾克尔'spresident and chief executive officer. "Better than expected gross profit and EBITDA were largely due to cost control efforts."

Results Q1 2019 Q4 2018 Q1 2018
（百万美元，每股数据除外）
Net sales $895 $1,081 $1,025
Gross margin 13.5% 16.9% 15.4%
Operating income $13 $75 $36
净利润增长在tributable to Amkor (1) ($23) $28 $10
Earnings per diluted share (1) ($0.10) $0.12 $0.04
息税折旧摊销前利润(2) 153美元 $219 $175

1） 2019年第一季度净收入包括 1500万美元non-cash discrete income tax charge, or $0.06per diluted share, to reduce the value of certain deferred tax assets. Q4 2018 net income includes a $17 milliondiscrete income tax charge, or $0.07通过最终确定美国税收改革的核算来驱动每个摊薄份额。
2)息税折旧摊销前利润is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under "Selected Operating Data."

“我们实现了一个稳健的季度，营业收入远高于预期，”他说 梅根浮士德, 艾克尔's公司副总裁兼首席财务官。”我们还成功地进行了再融资 5.25亿美元在我们的高级票据中，通过将期货到2027年扩展到2027年，实现了管理业务的更大的财务灵活性。“

净债务约为 $800 million在 2019年3月31日.

Business Outlook

"We expect second quarter 2019 revenue to be flat to the first quarter, reflecting a more stable market," said Kelley. "We plan to maintain our strong focus on cost and CAPEX.纪律。”

2019年第二季度展望（除非另有说明）：

  • Net sales of 8.5亿至9.3亿美元
  • Gross margin of 9% to 14%
  • 净利润增长of ($59) millionto ($10) million,or ($0.25) to ($0.04)per diluted share
  • Full year 2019 capital expenditures of approximately $475 million

电话会议信息

艾克尔将进行一次电话会议 Thursday, May 2, 2019，在 5:00 p.m. Eastern Time.This call may include material information not included in this press release. This call is being webcast and can be accessed at 艾克尔's网站：www.www.changhe-china.com.You may also access the call by dialing 1-877-645-6380 or 1-404-991-3911. A replay of the call will be made available at 艾克尔's或拨打1-855-859-2056或1-404-537-3406（会议ID 8289834）。该网络广播还通过纳斯达克OMX的投资者分销网络向机构投资者和个人投资者分发。机构投资者可以通过纳斯达克OMX的密码保护事件管理网站Street Events访问该电话(万博体育max网页版登录www.streetevents.com).

关于 艾克尔Technology, Inc.

艾克尔Technology, Inc.is one of the world’s largest providers of outsourced semiconductor packaging and test services. Founded in 1968, 艾克尔pioneered the outsourcing of IC packaging and test, and is now a strategic manufacturing partner for more than 250 of the world’s leading semiconductor companies, foundries and electronics OEMs. Amkor’s operational base includes production facilities, product development centers, and sales and support offices located in key electronics manufacturing regions in 亚洲, Europeand the USA.For more information, visitwww.www.changhe-china.com.

AMKOR TECHNOLOGY, INC.

Selected Operating Data
Q1 2019 Q4 2018 Q1 2018
净销售额数据：
Net sales (in millions):
高级产品（1） $ 422 $ 564 $ 476
主流产品（2） 473 517 549
总净销售额 $ 895 $ 1,081 $ 1,025
Packaging services 82 % 84 % 81 %
Test services 18 % 16 % 19 %
来自十大客户的净销售额 66 % 61 % 69 %
End Market Data:
Communications (smartphones, tablets, handheld devices) 38 % 45 % 42 %
Automotive, industrial and other (driver assist, infotainment, safety, performance) 28 % 25 % 26 %
计算（数据中心、基础设施、PC/笔记本电脑、存储） 20 % 18 % 19 %
消费者（机顶盒、电视、联网家庭、个人电子产品、视觉成像） 14 % 12 % 13 %
总 100 % 100 % 100 %
Gross Margin Data:
Net sales 100.0 % 100.0 % 100.0 %
销售成本：
材料 38.0 % 38.8 % 36.9 %
劳动 17.4 % 16.0 % 17.5 %
Other manufacturing 31.1 % 28.3 % 30.2 %
Gross margin 13.5 % 16.9 % 15.4 %

1) Advanced products include flip chip and wafer-level processing and related test services
2)主流产品包括wirebond包装and related test services

在上述新闻稿中，我们提供了息税折旧摊销前利润（EBITDA），这不是美国公认会计准则的定义。我们将息税折旧摊销前利润定义为扣除利息费用、所得税费用和折旧摊销前的净收入。我们相信息税折旧摊销前利润对我们的投资者是相关和有用的信息，因为它为评估我们的财务经营业绩提供了额外的信息。我们的管理层使用息税折旧摊销前利润来评估我们的经营业绩、偿债能力和资本支出融资能力。然而，息税折旧摊销前利润有一定的局限性，因为它不能反映某些费用对我们合并损益表的影响，包括利息费用，利息费用是我们成本的一个必要因素，因为我们借钱来万博体育max网页版登录为我们的经营、所得税费用、以及，这是我们成本的一个必要因素，因为税收是由法律规定的，折旧和摊销是我们成本的一个必要因素，因为我们使用资本资产来产生收入。息税折旧摊销前利润应作为营业收入、净收入或根据美国公认会计准则编制的其他财务业绩指标的补充，而不是替代或优于营业收入、净收入或其他财务业绩指标。此外，我们对息税折旧摊销前利润的定义可能无法与其他公司报告的类似标题的指标进行比较。以下是我们将息税折旧摊销前利润与美国公认会计准则净收入的对账。

非公认会计原则财务指标调节：
Q1 2019 Q4 2018 Q1 2018
（数百万）
息税折旧摊销前利润数据：
净利润增长 $ (23 ) $ 29 $ 10
加：利息支出 19 18 20
Plus: Income tax expense 21 29 2
Plus: Depreciation & amortization 136 143 143
息税折旧摊销前利润 $ 153 $ 219 $ 175

AMKOR TECHNOLOGY, INC.

合并损益表

(Unaudited)

For the Three Months Ended
3月31日，
2019 2018
(In thousands, except per share data)
Net sales $ 894,964 $ 1,025,319
Cost of sales 774,203 867,548
毛利润 120,761 157,771
Selling, general and administrative 71,587 80,723
研究与开发 35,754 40,929
营业费用合计 107,341 121,652
Operating income 13,420 36,119
Interest expense 19,273 20,011
Other (income) expense, net (4,565 ) 3,432
总other expense, net 14,708 23,443
Income (loss) before taxes (1,288 ) 12,676
所得税费用 21,380 2,481
净收入（亏损） (22,668 ) 10,195
归属于非控股利益的净收入 (211 ) (651 )
净收入（亏损）在tributable to Amkor $ (22,879 ) $ 9,544
净收入（亏损）在tributable to Amkor per common share:
基础 $ (0.10 ) $ 0.04
Diluted $ (0.10 ) $ 0.04
Shares used in computing per common share amounts:
基础 239,414 239,214
Diluted 239,414 239,816

AMKOR TECHNOLOGY, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)
3月31日，
2019		 December 31,
2018
（成千上万）
资产
流动资产：
Cash and cash equivalents $ 1,055,402 $ 681,569
Restricted cash 2,589 2,589
应收账款，扣除备抵 684,914 724,456.
Inventories 227,502 230,589
其他流动资产 32,522 32,005
流动资产总额 2,002,929 1,671,208
物业、厂房及设备净值 2,564,177 2,650,448
Operating lease right of use asset * 122,982 —
商誉 25,449 25,720
Restricted cash 2,929 3,893
Other assets 128,720 144,178
总assets $ 4,847,186 $ 4,495,447
LIABILITIES AND EQUITY
Current liabilities:
短期借款和长期债务的流动部分 $ 638,702 $ 114,579
Trade accounts payable 459,383 530,398
应付资本支出 123,737 255,237
Accrued expenses 245,796 258,209
总current liabilities 1,467,618 1,158,423
长期债务 1,215,262 1,217,732
Pension and severance obligations 181,826 184,321
Long-term operating lease liability * 73,876 —
Other non-current liabilities 76,022 79,071
总liabilities 3,014,604 2,639,547
股东权益：
Preferred stock — —
普通股 285 285
Additional paid-in capital 1,911,179 1,909,425
Retained earnings 90,310 113,189
累计其他综合收益（损失） 21,456 23,812
库存股 (216,219 ) (216,171 )
Amkor股东权益合计 1,807,011 1,830,540
Non-controlling interests in subsidiaries 25,571 25,360
权益总额 1,832,582 1,855,900
总liabilities and equity $ 4,847,186 $ 4,495,447

*Effective January 1, 2019,we adopted Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). Upon adoption, we recorded a right-of-use asset and lease liability on our balance sheet. Prior period financial statements were not required to be adjusted for the effects of this new standard.

AMKOR TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Three Months Ended
3月31日，
2019 2018
（成千上万）
Cash flows from operating activities:
净收入（亏损） $ (22,668 ) $ 10,195
折旧和摊销 135,835. 142,509
Other operating activities and non-cash items 15,928 (4,734 )
Changes in assets and liabilities (77,038 ) (339 )
Net cash provided by operating activities 52,057 147,631
Cash flows from investing activities:
Payments for property, plant and equipment (203,216 ) (230,603 )
出售物业、厂房及设备所得款项 180 342
财产、厂房和设备的保险赔偿收益 1,538 —
Other investing activities (569 ) 656
Net cash used in investing activities (202,067 ) (229,605 )
Cash flows from financing activities:
Proceeds from short-term debt 29,781 —
Payments of short-term debt (10,588 ) (17,352 )
从签发长期债务的收益 572,375 —
Payments of long-term debt (63,636 ) (6,220 )
支付融资租赁债务 (1,376 ) (808 )
Other financing activities (2,848 ) 455

筹资活动提供（使用）的现金净额

 523,708 (23,925 )
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash (829 ) 3,892
Net increase (decrease) in cash, cash equivalents and restricted cash 372,869 (102,007 )
现金，现金等价物和限制现金，期初 688,051 602,851
Cash, cash equivalents and restricted cash, end of period $ 1,060,920 $ 500,844

前瞻性声明免责声明

This press release contains forward-looking statements within the meaning of federal securities laws. All statements other than statements of historical fact are considered forward-looking statements including all of the statements made under "Business Outlook" above. These forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could affect future results and cause actual results and events to differ materially from historical and expected results and those expressed or implied in the forward-looking statements, including, but not limited to, the following:

  • the highly unpredictable nature, cyclicality, and rate of growth of the semiconductor industry;
  • 与生产能力相关的订单时间和数量，以及无法实现高产能利用率、控制成本和提高盈利能力的情况；
  • laws, rules, regulations and policies imposed by the U.S. or foreign governments in areas such as tariffs, customs, duties and other restrictive trade barriers, national security, data privacy and cybersecurity, antitrust and competition, tax, currency and banking, privacy, labor, environmental, health and safety, and in particular the recent increase in protectionist measures considered or adopted by the U.S. and foreign governments;
  • laws, rules, regulations and policies within China和其他可能有利于国内公司过度非国内公司的国家，包括客户或政府支持促进当地竞争对手的发展和增长的努力;
  • 消费者需求的波动性、客户的双重预订以及我们的客户对包含我们的半导体封装的产品预测的恶化，包括智能手机或其他移动设备的需求放缓或客户预测的变化，以及电子设备的软终端市场需求；狗万滚球官网
  • delays, lower manufacturing yields and supply constraints relating to wafers, particularly for advanced nodes and related technologies;
  • dependence on key customers, the impact of changes in our market share and prices for our services with those customers and the business and financial condition of those customers;
  • the performance of our business, interest rate fluctuations and other economic and market conditions, the cash needs and investment opportunities for the business, the need for additional capacity and facilities to service customer demand and the availability of cash flow from operations or financing;
  • 全球经济对信贷市场，金融机构，客户，供应商和消费者的影响，包括不确定的宏观经济环境;
  • 诉讼和其他法律活动的高度不可预测的性质和成本以及诸如此问题的不利成果的风险以及其他法律诉讼的影响;
  • 税率和税收变化的结果ges in U.S. or foreign tax law or the interpretations thereof (including the impact of recent U.S. tax reform), changes in our organizational structure, changes in the jurisdictions in which our income is determined to be earned and taxed, the outcome of tax reviews, audits and ruling requests, our ability to realize deferred tax assets and the expiration of tax holidays;
  • curtailment of outsourcing by our customers;
  • 我们的大量债务和限制性契约;
  • failure to realize sufficient cash flow or access to other sources of liquidity to fund capital expenditures;
  • 全球主要经济体经济放缓的影响；
  • 由于收购业务（尤其是J-Devices）的整合，或由于我们的企业资源规划、工厂车间系统和其他管理信息系统的实施、安全和变更，导致我们的业务中断或控制缺陷；
  • there can be no assurance regarding when our new K5 factory and research and development center in 韩国will be fully utilized, or that the actual scope, costs, timeline or benefits of the project will be consistent with our expectations;
  • 恐怖袭击，政治不稳定，自然灾害与军事冲突的经济影响;
  • 竞争，竞争性定价和平均售价下跌;
  • fluctuations in packaging and test manufacturing yields;
  • dependence on international operations and sales and fluctuations in foreign currency exchange rates, particularly in 日本and 韩国;
  • dependence on raw material and equipment suppliers and changes in raw material and precious metal costs;
  • 对关键人员的依赖；
  • enforcement of and compliance with intellectual property rights; and
  • technological challenges.

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's Annual Report on Form 10-K for the year ended December 31, 2018and in the company's subsequent filings with the Securities and Exchange Commissionmade prior to or after the date hereof. 艾克尔无义务审查或更新任何前瞻性声明，以反映本新闻稿日期后发生的事件或情况。

Source: 艾克尔Technology, Inc.

文森特基南
Vice President, Investor Relations
480-786-7594
文森特基南@www.changhe-china.com