Amkor Q2 Profit Rises

(RTTNews) - Amkor Technology, Inc. (AMKR) reported net Income for the second quarter of $50 million or $0.21 per share, compared to $30 million or $0.14 per share for the year-ago quarter.

The latest quarter results includes a net gain of $18 million or $0.08 per share related to the sale of Amkor's Japanese subsidiary to J-Devices, Amkor's 60% owned joint venture in Japan.

Net Sales for the second quarter rose 3% to $767 million from $746 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.15 per share on revenue of $761.40 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts net sales of $815 million to $865 million and net income of $47 million to $70 million, or $0.20 to $0.29 per share. Analysts currently expect the company to earn $0.24 per share on revenue of $826.71 million for the third quarter.