Amkor Technology (AMKR) Lowers Q2 Sales Outlook
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Amkor Technology (NASDAQ: AMKR) announced that net sales for the second quarter of 2008 are expected to be down 1% to 2% from the first quarter of 2008, compared to the previous guidance of a sequential increase in net sales of 1% to 3%.
The estimated decrease in net sales is due primarily to the previously disclosed disruptions in production resulting from the implementation of an enterprise resource planning system at its Philippine facilities. At this time, the Company is unable to determine the impact that its reduced net sales will have on its previous guidance for gross margin and net income.
Shares of AMKR closed at $9.52, up $0.56 (+6.25%), but in after-hours tradings, shares have fallen $0.96 (-10.08%).
Amkor Technology, Inc. (Amkor) is a subcontractor of semiconductor packaging (sometimes referred to as assembly) and test services. [SM]
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