Stock Alert: Amkor Technology Up After Q4 Results

(RTTNews) - Shares of outsourced semiconductor packaging and test services provider Amkor Technology, Inc. (AMKR) are climbing more than 18% in morning trade after reporting upbeat fourth-quarter earnings.

Net income in the fourth quarter was $99 million or $0.41 per share compared with $28 million or $0.12 per share. Analysts polled by Thomson Reuters were expecting $0.23.

Net sales also grew to $1.178 billion in the quarter from $1.081 billion in the comparable quarter last year. Sales growth was helped by strong demand for advanced packages in the mobile and consumer markets.

For the first quarter, Amkor expects net sales in the range of $1.08 billion to $1.16 billion and EPS in the range of $0.09 to $0.24. Analysts see earnings of $0.14 per share on revenue of $1.01 billion.

"Gross margin and EPS were well above the high end of guidance due to record revenue," said Megan Faust, Amkor's executive vice president and chief financial officer.

The stock is currently trading at $13.68, close to its 52-week high of $15.24.