Amkor Technology Reports Financial Results for the Third Quarter 2010: EPS of $0.30

Amkor Technology, Inc. AMKR, a leading provider of semiconductor assembly and test services, today announced financial results for the third quarter ended September 30, 2010, with net sales of $794 million, net income of $78 million, and earnings per diluted share of $0.30. “Amkor set a new record for sales in the third quarter reflecting solid growth across all of our end markets, with notable strength in the consumer and communications areas,” said Ken Joyce, Amkor's president and chief executive officer. “Gross margin was lower than expectations primarily due to an unanticipated shift in product mix to packages with higher material content. The lower gross margin, together with a foreign currency loss and increased income tax expense, led to lower than anticipated earnings in the quarter.” Select financial information for the third quarter 2010 is as follows: * Net Sales: $794 million, up 6% from $749 million in the prior quarter, and up 29% from $616 million in the third quarter of 2009 * Gross Margin: 24%, compared to 24% in the prior quarter and 25% in the third quarter of 2009 * Net Income: $78 million, up from $59 million in the prior quarter, and down from $81 million in the third quarter of 2009 * Earnings Per Diluted Share: $0.30, up from $0.23 in the prior quarter, and down from $0.31 in the third quarter of 2009