Amkor Technology Reports Financial Results for the First Quarter 2017

* Advanced products include flip chip and wafer-level processing and related test services
** Mainstream products include wirebond packaging and related test services
*** Fourth quarter 2016 results include approximately $26 million (250 basis points to gross margin) of insurance proceeds related to the second quarter 2016 Japan earthquakes

AMKOR TECHNOLOGY, INC.
Selected Operating Data

In the press release above we provide EBITDA, which is not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. We believe EBITDA to be relevant and useful information to our investors because it provides additional information in assessing our financial operating results. Our management uses EBITDA in evaluating our operating performance, our ability to service debt and our ability to fund capital expenditures. However, EBITDA has certain limitations in that it does not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of EBITDA to U.S. GAAP net income.

 
Non-GAAP Financial Measure Reconciliation:
 
  Q1 2017   Q4 2016   Q1 2016
(in millions)
EBITDA Data:
Net income (loss) attributable to Amkor $ (10 ) $ 100 $ (1 )
Plus: Interest expense 22 22 17
Plus: Income tax expense 19 2
Plus: Depreciation & amortization 142   139   137  
EBITDA $ 154   $ 280   $ 155  
 

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