Amkor Revises Second Quarter Outlook
Amkor now expects second quarter assembly and test revenues to be approximately 30% below the first quarter of 2001, compared with earlier guidance of up to a 20% sequential decline. Total revenue for the second quarter, including wafer fab sales, should be approximately $350 million, compared with $481 million in the first quarter of 2001.
Amkor will release its results for the second quarter of 2001 on July 24, 2001 after the close of the market.
John Boruch, Amkor's president, commented "Even though we believe we are gaining market share, we are certainly being impacted by the most severe semiconductor industry downturn in history. Excess inventory within the electronics industry, together with sluggish end market demand, have contributed to a lack of visibility throughout the supply chain that has made forecasting very difficult."
"Based on available data, we are cautiously optimistic that we are at the bottom part of this cycle. In spite of current market conditions, we are committed to extending our industry leadership. We have made strategic investments in both technology and geographical expansion that should reap substantial dividends when semiconductor demand recovers," continued Boruch.
Amkor will hold a brief conference call and webcast today, July 2, 2001 at 5:00 p.m. Eastern time. The call can be accessed by dialing 212/519-0802 (Pass code: Amkor) or through Amkor's website at www.amkor.com.
About Amkor Technology: Amkor Technology, Inc. is the world's largest provider of contract microelectronics assembly and test services.
The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services, including deep sub-micron wafer fabrication; wafer probe, wafer mapping, characterization and reliability testing; IC packaging design and assembly; multi-chip module design and assembly; and final testing.
More information on Amkor is available from the company's SEC filings and on Amkor's web site: www.amkor.com.
Forward-Looking Statements: Statements about our estimates of revenues for the quarter ended June 30, 2001 are forward-looking and involve risks and uncertainties that could cause actual results to differ from anticipated results.
Information on risk factors that could affect the outcome of events set forth in these statements and that would affect the company's operating results and financial condition is detailed in the company's filings with the Securities and Exchange Commission, including the Report on Form 10-Q for the period ended March 31, 2001.
CONTACT: Amkor Technology, Inc.
Jeffrey Luth, 610/431-9600 ext. 5613
jluth@amkor.com
or
Ken Jensen, 480/821-2408 ext. 5130
kjens@amkor.com