Key Developments: Amkor Technology Inc (AMKR.O)
4.50USD
17 May 2013
$0.03 (+0.67%)
$4.47
$4.50
$4.52
$4.47
721,834
1,023,239
$5.57
$3.55
Latest Key Developments (Source: Significant Developments)
Amkor Technology Inc Announces Pricing Of $225 Million Of 6.375% Senior Notes Due 2022
Amkor Technology Inc announced that it has priced and increased the size of previously announced offering to $225 million aggregate principal amount of 6.375% Senior Notes due 2022 (the Notes) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The offering is expected to close on May 20, 2013. The Company expects to use the net proceeds of the Notes offering for general corporate purposes, which may include, among other things, capital additions, acquisitions and other investments. Full Article
Amkor Technology Inc Issues Q2 2013 Guidance; Revenue Guidance Above Analysts' Estimates-Conference Call
Amkor Technology Inc announced that second quarter of 2013, it expects sequential sales growth of 6% to 13% and earnings per share (EPS) to be between $0.09 and $0.19 per share. The Company reported revenue of $687.53 million in first quarter of 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $719.39 million and EPS of $0.13 second quarter of 2013. Full Article
Tessera Technologies Inc Wins $130 Million In Patent Dispute With Amkor Technology Inc-DJ
Dow Jones reported that a court has awarded Tessera Technologies Inc more than $130 million in a dispute with Amkor Technology Inc, in addition to about $20 million Amkor already paid to Tessera. The current case, which began in 2009, marks the second time the two companies have gone to the International Court of Arbitration to resolve the amount of royalties owed in connection with the now-terminated patent license agreement. Last July, Tessera said the arbitration panel confirmed it properly terminated Amkor's license agreement in February 2011, and allowed it to collect royalties on four foreign patents. Tessera was awarded $64.1 million in the first arbitration. The next part of the current arbitration will involve calculations by damages experts to determine the precise amount owed. Tessera said it will also continue to pursue additional patent damages and equitable remedies in further proceedings before the ICC, as well as in the U.S. District Court, based in part on the arbitration tribunal's finding that Amkor's advanced packaging technology uses Tessera's intellectual property. Full Article
Amkor Technology Inc Issues Q1 2013 Revenue Guidance In Line With Analysts' Estimates
Amkor Technology Inc announced that for the first quarter of 2013, it expects revenues to be down 5% to 11% from the fourth quarter 2012. The Company reported revenue of $723 million in fourth quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $648 million first quarter of 2013. Full Article
Ken Joyce To Retire As President And Chief Executive Officer Of Amkor Technology Inc
Amkor Technology Inc announced that Ken Joyce intends to retire as President and Chief Executive Officer and Director of the Company by the end of 2013, following more than 15 years of service to the Company. The Company's Board of Directors has created a search committee to identify Mr. Joyce's replacement. An executive recruiting firm has been retained to conduct an outside search and also to assist with the assessment of internal candidates. Full Article
Amkor Technology Inc Issues Q4 2012 Revenue Guidance Below Analysts' Estimates-Conference Call
Amkor Technology Inc announced that for the fourth quarter of 2012, it expects revenues to be in the range of $675 million to $725 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $752 million for the fourth quarter of 2012. Full Article
Amkor Technology Inc Completes Sale of $300 Million of 6.375% Senior Notes due 2022
Amkor Technology Inc announced that it has completed its previously announced offering of $300 million aggregate principal amount of its 6.375% Senior Notes due 2022 (the Notes). We expect to use a portion of the net proceeds of this offering to repay approximately $224.9 million of debt of certain of our subsidiaries. Any remaining net proceeds would be used for general corporate purposes. Full Article
Amkor Technology Inc Announces Pricing of $300 Million of 6.375% Senior Notes due 202
Amkor Technology Inc announced that it has priced its offering of $300 million aggregate principal amount of its 6.375% Senior Notes due 2022 (the Notes) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The offering is expected to close on September 21, 2012, subject to satisfaction of customary closing conditions. The Notes will be issued at par and will be senior unsecured obligations of the company. Interest will be payable semi-annually at a rate of 6.375% per annum on April 1 and October 1 of each year, commencing on April 1, 2013. We expect to use a portion of the net proceeds of the Notes offering to repay approximately $224.9 million of debt of certain of our subsidiaries. Any remaining net proceeds would be used for general corporate purposes. Full Article
Amkor Technology Inc Announces Proposed Offering of Senior Notes
Amkor Technology Inc announced that it intends to offer $300 million aggregate principal amount of senior notes. The Notes are expected to be due in 2022 and are to be offered in a private placement in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will be unsecured and the offering price, interest rate and other terms will be determined by negotiations between the Company and the initial purchasers. The net proceeds of the Notes offering to repay approximately $224.9 million of debt of certain of subsidiaries. Any remaining net proceeds would be used for general corporate purposes. Full Article
Federal Circuit Court Issues Favorable Ruling In Amkor Technology Inc's Patent Case Against Carsem
Amkor Technology Inc announced that U.S. Court of Appeals for the Federal Circuit issued a favorable ruling in Amkor's appeal in its patent infringement case against Carsem (M) Sdn Bhd, Carsem Semiconductor Sdn Bhd, and Carsem Inc. before the U.S. International Trade Commission. In the underlying ITC proceedings, the Administrative Law Judge had ruled that certain Carsem Dual and Quad Flat No-Lead (QFN) Packages infringe certain claims of one of Amkor’s patents (U.S. Patent No. 6,433,277) relating to MicroLeadFrame (MLF) technology. However the ITC subsequently ruled that the infringed claims were invalid and terminated the proceedings. The Federal Circuit Court has now reversed the ITC’s determination of invalidity, and remanded the matter to the ITC for further proceedings consistent with its opinion. Amkor’s U.S. District Court action in the Northern District of California has been stayed pending resolution of the ITC proceedings. In this action Amkor is seeking to enjoin Carsem from further infringement of patent claims of certain U.S. patents (including U.S. Patent No. 6,433,277), compensatory damages and treble damages due to willful infringement plus interest, costs and attorney's fees. Full Article
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