The gross margin, net income and earnings per diluted share information presented above under Non-GAAP Results excludes charges relating to the settlement of litigation and are non-GAAP measures. The charges are $87 million ($77 million, net of tax) in the fourth quarter 2014. The reconciliation to the comparable GAAP measures is included below under "Selected Operating Data."

Cash and cash equivalents were $494 million, and total debt was $1.5 billion, at March 31, 2015.

Business Outlook

"We anticipate that second quarter 2015 revenues will be flat sequentially, primarily due to inventory adjustments and other issues at a major customer," said Kelley. "We expect demand will strengthen in the second half of 2015 driven by the launch of flagship mobile devices with high Amkor content. Our full year 2015 capital expenditure estimate of around $600 million, including around $150 million of spending for our new K5 facility, remains unchanged."

Based upon currently available information, we have the following expectations for the second quarter 2015:

• Net sales of $725 million to $775 million, down 2% to up 4% from the prior quarter
• Gross margin of 16% to 19%
• Net income of $12 million to $35 million, or $0.05 to $0.15 per diluted share

Conference Call Information

Amkor will conduct a conference call on Monday, April 27, 2015, at 5:00 p.m. Eastern Time. This call may include material information not included in this press release. This call is being webcast and can be accessed at Amkor's website: www.amkor.com. You may also access the call by dialing 1-877-645-6380 or 1-404-991-3911. A replay of the call will be made available at Amkor's website or by dialing 1-855-859-2056 or 1-404-537-3406 (conference ID 23579914). The webcast is also being distributed over NASDAQ OMX's investor distribution network to both institutional and individual investors. Institutional investors can access the call via NASDAQ OMX's password-protected event management site, Street Events ( www.streetevents.com).

About Amkor

Amkor is a leading provider of semiconductor packaging and test services to semiconductor companies and electronics OEMs. More information about Amkor is available from the company's filings with the Securities and Exchange Commission and at Amkor's website: www.amkor.com.

AMKOR TECHNOLOGY, INC.
Selected Operating Data
		Q1 2015						Q4 2014						Q1 2014
Net Sales Data:
Net sales (in millions):
Advanced products*		$	373					$	462					$	302
Mainstream products**		370						391						394
Total net sales		$	743					$	853					$	696
Packaging services		85			%			85			%			85			%
Test services		15			%			15			%			15			%
Net sales from top ten customers		60			%			64			%			60			%
Packaged units (in millions):
Advanced products*		1,188						1,174						650
Mainstream products**		2,671						3,001						3,217
Total packaged units		3,859						4,175						3,867
End Market Distribution Data (an approximation including representative devices and applications based on a sampling of our largest customers) :
Communications (smart phones, tablets, handheld devices, wireless LAN)		57			%			60			%			53			%
Consumer (television, set top boxes, gaming, portable media, digital cameras)		12			%			11			%			15			%
Automotive, industrial and other (infotainment, safety, performance, comfort)		11			%			10			%			12			%
Networking (servers, routers, switches)		11			%			10			%			10			%
Computing (PCs, hard disk drive, printers, peripherals, servers)		9			%			9			%			10			%
Total		100			%			100			%			100			%
Gross Margin Data:
Net sales		100.0			%			100.0			%			100.0			%
Cost of sales:
Materials		36.7			%			36.0			%			36.8			%
Labor		14.2			%			13.2			%			14.7			%
Other manufacturing		30.9			%			27.9			%			30.0			%
Litigation settlement		—			%			8.8			%			—			%
Gross margin		18.2			%			14.1			%			18.5			%
Earnings per Share Data:
Net income available to Amkor common stockholders - basic		$	29					$	13					$	20
Adjustment for dilutive securities on net income:
Interest on 6.0% convertible notes due 2014, net of tax		—						—						1
Net income attributable to Amkor - diluted		$	29					$	13					$	21
Weighted average shares outstanding - basic		237						237						216
Effect of dilutive securities:
6.0% convertible notes due 2014		—						—						19
Weighted average shares outstanding - diluted		237						237						235
Net income attributable to Amkor per common share:
Basic		$	0.12					$	0.06					$	0.09
Diluted		$	0.12					$	0.06					$	0.09

*Advanced products include flip chip and wafer-level processing and related test services

**Mainstream products include wirebond packaging and related test services

AMKOR TECHNOLOGY, INC.

Selected Operating Data

In the press release above we provide non-GAAP gross margin, non-GAAP net income and non-GAAP earnings per diluted share for the fourth quarter 2014. We present these non-GAAP amounts to demonstrate the impact of the charges we recognized related to the settlement of our litigation with Tessera. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). These measures have limitations, including that they exclude the charges for the settlement payments, which are amounts that the company will ultimately have to pay in cash, and should be considered in addition to, and not as a substitute for, or superior to, gross margin, net income and earnings per diluted share prepared in accordance with U.S. GAAP. Below is the reconciliation of non-GAAP gross margin, non-GAAP net income and non-GAAP earnings per diluted share to U.S. GAAP gross margin, net income and earnings per diluted share.

Non-GAAP Financial Measures Reconciliation:
			Q4 2014
Gross margin			14.1		%
Plus: Litigation settlement charges divided by net sales			8.8		%
Non-GAAP gross margin			22.9		%
Net income (in millions)			$	13
Plus: Litigation settlement charges, net of tax (in millions)			77
Non-GAAP net income (in millions)			$	90
Earnings per diluted share			$	0.06
Plus: Litigation settlement charges per diluted share			0.32
Non-GAAP earnings per diluted share			$	0.38

AMKOR TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
		For the Three Months Ended
		March 31,
		2015				2014
		(In thousands, except per share data)
Net sales		$	742,875			$	696,044
Cost of sales		607,928				567,224
Gross profit		134,947				128,820
Selling, general and administrative		62,942				62,424
Research and development		18,026				21,045
Total operating expenses		80,968				83,469
Operating income		53,979				45,351
Interest expense		23,777				23,722
Interest expense, related party		1,242				1,242
Other (income) expense, net		(498		)		36
Total other expense, net		24,521				25,000
Income before taxes and equity in earnings of unconsolidated affiliate		29,458				20,351
Income tax expense		5,999				4,929
Income before equity in earnings of unconsolidated affiliate		23,459				15,422
Equity in earnings of J-Devices		6,238				5,761
Net income		29,697				21,183
Net income attributable to noncontrolling interests		(916		)		(550		)
Net income attributable to Amkor		$	28,781			$	20,633
Net income attributable to Amkor per common share:
Basic		$	0.12			$	0.09
Diluted		$	0.12			$	0.09
Shares used in computing per common share amounts:
Basic		236,708				216,757
Diluted		237,424				235,497

AMKOR TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
		March 31,					December 31,
		2015					2014
		(In thousands)
ASSETS
Current assets:
Cash and cash equivalents		$	494,189				$	449,946
Restricted cash		2,681					2,681
Accounts receivable, net of allowances		433,092					469,683
Inventories		227,605					223,379
Other current assets		48,383					52,259
Total current assets		1,205,950					1,197,948
Property, plant and equipment, net		2,167,790					2,206,476
Investments		138,218					117,733
Restricted cash		2,151					2,123
Other assets		119,767					111,125
Total assets		$	3,633,876				$	3,635,405
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings and current portion of long-term debt		$	30,000				$	5,000
Trade accounts payable		287,129					309,025
Capital expenditures payable		111,646					127,568
Accrued expenses		272,620					258,997
Total current liabilities		701,395					700,590
Long-term debt		1,420,677					1,450,824
Long-term debt, related party		75,000					75,000
Pension and severance obligations		153,027					152,673
Other non-current liabilities		120,193					125,382
Total liabilities		2,470,292					2,504,469
Amkor stockholders’ equity:
Preferred stock		—					—
Common stock		282					282
Additional paid-in capital		1,880,753					1,878,810
Accumulated deficit		(488,181		)			(516,962		)
Accumulated other comprehensive loss		(31,629		)			(32,867		)
Treasury stock		(213,258		)			(213,028		)
Total Amkor stockholders’ equity		1,147,967					1,116,235
Noncontrolling interests in subsidiaries		15,617					14,701
Total equity		1,163,584					1,130,936
Total liabilities and equity		$	3,633,876				$	3,635,405

AMKOR TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
		For the Three Months Ended
		March 31,
		2015					2014
		(In thousands)
Cash flows from operating activities:
Net income		$	29,697				$	21,183
Depreciation and amortization		124,387					108,338
Other operating activities and non-cash items		(9,525		)			(4,274		)
Changes in assets and liabilities		20,465					6,699
Net cash provided by operating activities		165,024					131,946
Cash flows from investing activities:
Payments for property, plant and equipment		(106,149		)			(95,999		)
Proceeds from sale of property, plant and equipment		3,254					726
Investment in J-Devices		(12,908		)			—
Other investing activities		(322		)			(266		)
Net cash used in investing activities		(116,125		)			(95,539		)
Cash flows from financing activities:
Borrowings under revolving credit facilities		30,000					—
Proceeds from issuance of long-term debt		—					80,000
Payments of long-term debt		(35,000		)			(80,000		)
Payment of deferred consideration for an acquisition		—					(18,763		)
Proceeds from the issuance of stock through share-based compensation plans		574					438
Payments of tax withholding for restricted shares		(230		)			(122		)
Net cash used in financing activities		(4,656		)			(18,447		)
Effect of exchange rate fluctuations on cash and cash equivalents		—					183
Net increase in cash and cash equivalents		44,243					18,143
Cash and cash equivalents, beginning of period		449,946					610,442
Cash and cash equivalents, end of period		$	494,189				$	628,585

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