Amkor Technology Inc. recorded a second quarter net loss of $384 million, or $2.33 per share, on sales of $409.9 million. The loss includes a $311 million, or $1.89 per share, impairment charge for Amkor's equity investment in Anam Semiconductor Inc.
The pro-forma loss before charges was $73 million, or 44 cents per share, meeting the guidance of First Call analysts.
In the year-ago second quarter, Amkor reported a net loss of $88 million, or 57 cents per share, on sales of $350 million.
Assembly & test revenue rose 21% to $350.5 million, from $289 million in the first quarter. Wafer fab revenue was $59.4 million compared with $61 million in the first quarter. Second quarter gross margin increased to 3% from negative 4% in the first quarter.
During the second quarter, Amkor consolidated several U.S. offices and closed its San Jose test facility, centralizing test development in its primary test development center in Wichita, Kansas.
The company projects third-quarter assembly & test revenue to rise 5% over the second quarter, with wafer fab revenue to fall modestly. Gross margins are expected to rise sequentially from 3% to 9%, reflecting lower operating expenses and levels of depreciation.