SECURITIES AND EXCHANGE COMMISSION
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
April 27, 2004
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
AMKOR TECHNOLOGY, INC.
Delaware | 000-29472 | 23-1722724 | ||
(State of other jurisdiction of incorporation) | (Commission Identification Number) | (IRS Employer Identification Number) |
1345 ENTERPRISE DRIVE
WEST CHESTER, PA 19380
(Address of principal executive offices and zip code)
(610) 431-9600
(Registrants telephone number, including area code)
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. | ||||||||
ITEM 12. DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION. | ||||||||
Exhibit Index: | ||||||||
SIGNATURES | ||||||||
TEXT OF PRESS RELEASE DATED MAY 5, 2004 |
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) | Exhibits. | |||
99.1 | Text of Press Release dated May 5, 2004 |
ITEM 12. DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
The purpose of this Form 8-K/A is to amend our Form 8-K filed on April 27, 2004. The information provided in this Form 8-K report is being furnished and shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended, unless specifically stated so therein.
On April 27, 2004, Amkor announced its financial results for the three months ended March 31, 2004 and certain other information. Subsequently, on May 5, 2004, Amkor announced that it reached resolution with Koninklijke Philips Electronics (Philips) on pending litigation involving allegedly defective epoxy mold compound manufactured by Sumitomo Bakelite (Sumitomo). This resolution was reached on April 29, 2004. Amkor has agreed to pay Philips $1.5 million plus a contingent amount ranging between $0.0 and $2.0 million based on the resolution of Philips claims against Sumitomo. The trial of Philips claims against Sumitomo is scheduled to start on August 2, 2004.
In accordance with U.S. generally accepted accounting principles, Amkor is revising its previously announced earnings for its first quarter ended March 31, 2004 by recording the $1.5 million payment to Philips as a pre-tax charge for such quarter, as reflected in Amkors Report on Form 10-Q filed with the Securities and Exchange Commission on March 5, 2005. As a result of this charge, Amkors net income for the quarter ended March 31, 2004 is $10.9 million, or $0.06 per share, compared with $12.2 million, or $0.07 per share, as reported on April 27, 2004.
Exhibit Index:
99.1 Text of Press Release dated May 5, 2004.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AMKOR TECHNOLOGY, INC. | ||||
By: | /s/ KENNETH T. JOYCE | |||
Kenneth T. Joyce Chief Financial Officer |
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Dated: May 5, 2004 |
Exhibit 99.1
News Release |
DRAFT NOT FOR RELEASE
Amkor Resolves Outstanding Mold Compound Dispute with Philips
CHANDLER, Ariz., May 5, 2002 Amkor Technology, Inc. (NASDAQ: AMKR) today announced that on April 29, 2004 it reached resolution with Koninklijke Philips Electronics (Philips) on pending litigation involving allegedly defective epoxy mold compound manufactured by Sumitomo Bakelite (Sumitomo). Amkor has agreed to pay Philips $1.5 million plus a contingent amount ranging between $0.0 and $2.0 million based on the resolution of Philips claims against Sumitomo. The trial of Philips claims against Sumitomo is scheduled to start on August 2, 2004.
In accordance with U.S. generally accepted accounting principles, Amkor is revising its previously announced earnings for its first quarter ended March 31, 2004 by recording the $1.5 million payment to Philips as a pre-tax charge for such quarter, which will be included in Amkors Report on Form 10-Q being filed with the Securities and Exchange Commission today. As a result of this charge, Amkors net income for the quarter ended March 31, 2004 is $11 million, or $0.06 per share, compared with $12 million, or $0.07 per share, as reported on April 27, 2004.
We view this resolution in a very positive light and believe that it compares favorably to the legal expenses we would likely incur in continuing to defend against Philips claims, said Ken Joyce, Amkors chief financial officer. Philips is one of five cases related to the mold compound, and we will continue to incur legal expenses in regard to those other cases. Nonetheless, we believe the resolution with Philips is a favorable development in this litigation.
About Amkor:
Amkor Technology, Inc. is a leading provider of contract semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services. More information on Amkor is available from the companys SEC filings and on Amkors web site: www.amkor.com.
Contact:
Amkor Technology
Jeffrey Luth
VP Corporate Communications
(480) 821-2408 Ext. 5130
jluth@amkor.com