CHANDLER, Ariz. — (BUSINESS WIRE) — October 28, 2013 — Amkor Technology, Inc. (NASDAQ: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the third quarter ended September 30, 2013, with net sales of $768 million, net income of $25 million, and earnings per diluted share of $0.11.
Amkor closed its acquisition of Toshiba’s power discrete semiconductor packaging and test operation in Malaysia on July 31, 2013, and from that date began consolidating the results of the acquired operations. Third quarter results include net sales of $31 million and net income of $1 million from these operations.
In October 2013, we received a new interim order from the arbitration panel in our pending patent license arbitration, and we now estimate the possible range of damages to be from $60 million to $115 million (excluding interest). Third quarter results include a charge of $11 million ($10 million, net of tax), or $0.04 per diluted share (net of tax), relating to an increase in our accrual for damages to the low end of the range. Of the total charge, $10 million was recorded as cost of goods sold and $1 million was recorded as interest expense.
The adjusted items presented above are non-GAAP measures. Selected operating data for the third quarter 2013, and a reconciliation of the non-GAAP measures presented above to the comparable GAAP measures, is included in a section below before the financial statements.
Cash and cash equivalents were $591 million, and total debt was $1.7 billion, at September 30, 2013.
Capital additions of around $70 million for the fourth quarter, and around $450 million for the full year 2013. In addition, we plan to spend around $50 million in the fourth quarter for the acquisition of land relating to our previously announced new factory and R&D center in South Korea, and around $100 million in the full year 2013.