Amkor Technology Inc., West Chester, Pa., announced that its 2000 year revenue rose 25% to $2.39 billion, marking the company's fifteenth consecutive year of revenue growth.
However, the recent tightening economic conditions caused John Boruch, Amkor's President, to express concern over the first quarter of 2001.
``During January, however, industry conditions continued to deteriorate, and customer forecasts have weakened across theboard. We expect the first quarter of 2001 to be very challenging, and we will be implementing measures to manage our operating costs in line with expected levels of business activity,'' said Boruch. "Our current view is that second-quarter revenues will be higher than in Q1 2000.''
Fourth-quarter revenue was $637 million, an increase of 18% from $538 million in the fourth quarter of 1999. Assembly and test revenue rose 16% to $529 million from $457 million in the year-ago quarter. Wafer fab revenue was $108 million compared with $81 million in the fourth quarter of 1999.
For 2000, net income before amortization of goodwill and acquired intangibles more than doubled, to $242 million, or $1.60 per share, compared to $96 million, or 77 cents per share, for 1999. Including amortization of goodwill and acquired intangibles, 2000 net income was $154 million, or $1.02 per share, compared with $77 million, or 63 cents per share, in 1999.
"Given the unexpectedly severe and broad-based weakness in economic activity that developed toward the end of the year,
we are satisfied with our fourth quarter and full year operating results,'' said Boruch,. "While we experienced a general pullback in die shipments during the fourth quarter, combined revenues from four of our five largest customers actually increased by 10% in Q4.''