Amkor Q3 Profit Misses Estimate

(RTTNews) - Amkor Technology, Inc. (AMKR) reported net income for the third quarter of $47.1 million or $0.20 per share, compared to 25.3 million or $0.11 per share for the year-ago quarter.

Net sales for the third quarter rose to $812.82 million from $767.99 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.24 per share on revenue of $843.30 million for the third quarter.

Looking ahead to the fourth quarter, the company forecasts net sales of $755 million to $805 million and net income of $17 million to $41 million, or $0.07 to $0.17 per share. Analysts currently expect the company to earn $0.25 per share on revenue of $859.57 million for the fourth quarter.

The company also forecasts full year 2014 net sales of $3.030 billion to $3.080 billion. Analysts currently expect the company to post revenue of $3.17 billion for the full year 2014.