Amkor Technology Q3 Profit Rises

(RTTNews) - Amkor Technology Inc. (AMKR) Monday reported an increased third-quarter profit that also trumped analysts estimates.

Net income for the quarter rose to $60 million or $0.25 per share from $28 million or $0.12 per share last year. Net sales for the quarter rose to $1.09 billion from $734 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.21 per share and revenues of $1.06 billion.

Gross margin for the quarter improved to 19.7 percent from 17.2 percent last year.

For the fourth quarter, the company expects sales of $990 million to $1.07 billion and earnings of $0.19 to $0.34 per share. For the full year 2016, Amkor expects sales of about $3.9 billion and earnings of around $0.55 per share.