Monday, Amkor Technology Inc. (AMKR), a provider of semiconductor assembly and test services, said it is raising its net sales and gross margin guidance for the fourth quarter 2009 on a sequential basis.
Chandler, Arizona-based Amkor Tech expects net sales for the fourth quarter to be up around 6% from the third quarter of 2009, mainly due to higher than expected customer demand across the company's product lines. The company earlier expected net sales to be flat, plus or minus 2%.
Amkor Tech also expects fourth quarter gross margin to be around 26%, higher than its previous guidance of 23% to 25%, based on the expected improved level of net sales.
Wall street analysts currently expect revenues of $610.95 million for the quarter.
Amkor Tech expects fourth quarter net income in the range of $0.17 to $0.23 per share as said previously. Analysts expect earnings of $0.16 per share.
AMKR closed Monday's regular trading at $6.51, up $0.03 or 0.46% on a volume of 1.67 million shares and in after hours the stocks further rose 8.45% or $0.55 trading at $7.06 on the Nasdaq.
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