Amkor Technology climbs to 4th-quarter profit from year-ago loss that included hefty charge

Amkor Technology climbs to profit on lower costs

CHANDLER, Ariz. — Amkor Technology Inc. said Wednesday it climbed to a profit in the fourth quarter, reversing a year-ago loss linked to a major charge. The chip assembly and testing services company said its revenue climbed 22 percent as demand for its packaging services improved.

For the quarter that ended Dec. 31, Amkor earned $88 million, or 33 cents per share. That compares with a loss of $623 million, or $3.40 per share, in the year-ago quarter, which included a charge of $671 million to write down the value of some of its assets.

Revenue rose 8 percent to $668 million from $616 million, with revenue from its packaging services segment growing 24 percent to $597 million.

For the full year, Amkor earned $156 million, or 67 cents per share, compared with a loss of $457 million, or $2.50 per share, in 2008. Sales slipped 18 percent to $2.18 billion from $2.66 billion.

“We began the year with an unprecedented drop in sales as the electronics industry significantly cut inventories in response to the global recession. The markets have rebounded more quickly than most people anticipated at the start of the year, and the current outlook is positive as we enter 2010,” said Ken Joyce, Amkor’s president and CEO.

Shares of Amkor fell 39 cents, or 6.2 percent, to $5.95 in after-hours trading. The stock earlier closed regular trading up 41 cents, or 6.9 percent, at $6.34.