SAN JOSE, Calif. -- Citing a glitch in its information technology (IT) system, Amkor Technology Inc. lowered its forecast.
Chip-packaging provider Amkor (Chandler, Ariz.) said that net sales for the second quarter of 2008 are expected to be down 1-to-2 percent from the first quarter of 2008, compared to the previous guidance of a sequential increase in net sales of 1-to-3 percent.
The company blamed the forecast ''to the previously disclosed disruptions in production resulting from the implementation of an enterprise resource planning system at its Philippine facilities.''
First quarter net sales of $699 million were down sequentially 6.3 percent from the fourth quarter of 2007 and up 7.4 percent from the first quarter of 2007. First quarter net income was $72 million, down 23 percent from the fourth quarter of 2007 and up 108 percent from the first quarter of 2007.