SAN JOSE, Calif. Amkor Technology Inc. said sales of $652 million for the second quarter of 2007 were flat from the first quarter of 2007 and down 5 percent from $687 million for the second quarter of 2006.
Second quarter net income was $31 million, or $0.16 per diluted share, compared with net income of $24 million, or $0.13 per diluted share, in the second quarter of 2006.
''During the second quarter of 2007, sales of our wirebond packages were strong, in support of a broad array of wireless, consumer, networking, and gaming applications,'' said James Kim, chairman and chief executive of Amkor, in a statement.
''This was not enough, however, to offset reduced levels of modules business and lower than expected sales of our flip chip assembly and test services to certain customers in the computing and gaming sectors who experienced inventory corrections during the quarter,'' said Kim.
''With first quarter seasonal weakness behind us and our belief that our customers have largely worked off excess inventories in the first six months of 2007, I expect modest growth to resume in the third quarter," said Kim.
Amkor projects Q3 sales will grow 4 percent to 7 percent from the second quarter of 2007. Net income in the range of $0.23 to $0.28 per diluted share.