Boston, MA 05/01/2014 (wallstreetpr) – Amkor Technology, Inc. (NASDAQ:AMKR) the $1.7 billion semiconductor assembly and testing company has big plans for its future. And it hopes the plan will excite investors looking for greater value in the fast-growing semiconductor business. The announcement about expansion of business comes on the back of a record earnings and revenue performance in Q12014.
The company said its performance in the latest quarter was helped by big demand for mobile semiconductor. It expects the Q2 and Q3 to also come out strongly given the expected widespread launch of new mobile products throughout 2014.
However, as the company seeks to expand its market and capture bigger revenue, internal improvements are also on the cards. The company believes that adjustment in costs and expenses can significantly support its bottom-line and that is an area the management is keen to address.
China and Taiwan as new markets
Amkor Technology, Inc. (NASDAQ:AMKR) already has a presence in Asia, thanks to its majority stake in Japanese semiconductor assembly company J-Devices Corporation. It owns 60 percent stake in the company. The Japanese company also handles semiconductor testing services for outsourcing clients. Amkor expects to fully consolidate its position in the Japanese business in the near future. J-Devices has $1 billion revenue outlook for the current fiscal year. Amkor CEO Steve Kelly believes the business is progressing excellently.
In addition to the Japanese investment, the company said it will expand its Asian operations to China and Taiwan. The planned expansions in Asia are expected to broaden the company’s customer base besides stimulating growth across its product portfolio.
Q1 performance in summary
Amkor Technology, Inc. (NASDAQ:AMKR) reported Q1 profit of $21.2 million, translating to 9 cents per share. The profit came on revenue of $696 million in the quarter. The figures in the latest quarter exceeded performance in the same quarter a year earlier during which profit was $13.8 million or 7 cents per share on $688 million revenue.
The company reported fiscal 2013 full-year revenue of $3 billion but expects fiscal 2014 to exceedingly strong going by the market indicators.
