Shares of Amkor Technology Inc. (NASDAQ:AMKR) surged during Monday’s after hours session following the release of the company’s Q4 earnings report along with in-line guidance for Q1 sales and margins.
During the fourth-quarter, Amkor smashed estimates and showcased record net sales of $1.73 billion which resulted in a 26% year-over-year improvement. Additionally, the company achieved a record full year annual revenue of $6.14 billion, growing nearly 22% or $1.1 billion year-over year. As of the end of fiscal year 2021, Amkor’s total cash and short-term investments was $1.08 billion with total debt at $1.14 billion.
Amkor President and CEO Giel Rutten highlighted, “strong execution, high factory utilization, and disciplined spending drove record EPS of $2.62.” The CEO attributes the strong quarter to the company’s “differentiated technology portfolio and deep customer and supplier relationships,” believing the company has another year of growth in store.
Amkor Technology Inc. is a provider of outsourced semiconductor packaging and test services to integrated device manufacturers, fabless semiconductor companies, and contract foundries. The firm’s products are organized into advanced products and mainstream products.
At the time of publication, shares of Amkor were trading 8.75% higher during after hours at $23.00. The stock has a 52-week low of $18.04 and a 52-week high of $29.50.
