Wednesday, February 25, 2009

Amkor 10K

Packaging and test volume: "In 2008, we tested over 4.2 billion units. We tested 49%, 48% and 44% of the units that we packaged in 2008, 2007 and 2006, respectively."

Gross margin models:
  • Packaging Gross Profit. Gross profit for packaging decreased $8.6 million to $577.8 million, or 23.8% of packaging net sales, in 2007 from $586.3 million, or 23.9% of packaging net sales, in 2006. The packaging gross profit decrease was primarily due to a decrease in our traditional leadframe packages offset by favorable product mix, consisting of an increase in our advanced package technologies including flip chip and 3D packages.
  • Test Gross Profit. Gross profit for test in 2007 increased $13.9 million to $103.4 million, or 33.4% of test net sales from $89.6 million, or 32.0% of test net sales, in 2006.

Top 25 customers in alphabetical order: "Altera Corporation, Analog Devices, Inc., Atheros Communication, Inc., Atmel Corporation, Avago Technologies Limited, Broadcom Corporation, Conexant Systems, Inc., Entropic Communications Limited, Freescale Semiconductor, Inc., Global Unichip Corp., Infineon Technologies AG, Intel Corporation, IBM, LSI Corporation, NEC Corporation, NXP Semiconductors, ON Semiconductor Corp., QUALCOMM Incorporated, RF Micro Devices, Inc., Samsung Electronics Co., Ltd., Sony Electronics Inc., ST Microelectronics, Texas Instruments Inc., Toshiba Corporation, Xilinx, Inc.....Our top 25 customers accounted for 73.5% of our net sales in 2008, and our ten largest customers accounted for approximately 49.8%, 47.0% and 43.6% of our net sales for the years ended December 31, 2008, 2007 and 2006, respectively. No customer accounted for more than 10% of our net sales in 2008, 2007 or 2006."

Employees: "As of December 31, 2008, we had 20,500 full-time employees. Of the total employee population, 14,900 were engaged in manufacturing services, 3,700 were engaged in manufacturing support, 300 were engaged in research and development, 300 were engaged in marketing and sales and 1,300 were engaged in finance, business management and administration. We expect to reduce our work force by an estimated 1,700 employees during the three months ending March 31, 2009."

Concentration of ownership: "As of December 31, 2008, Mr. James J. Kim, our Chief Executive Officer and Chairman of the Board, members of Mr. Kim’s immediate family and certain family trusts beneficially owned approximately 44% of our outstanding common stock."