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Amkor Tech Inc has a market cap of $996.9 million; its shares were traded at around $5.01 with a P/E ratio of 13.4 and P/S ratio of 0.4.
Highlight of Business Operations:Our net sales decreased $9.9 million or 1.5% to $655.0 million for the three months ended March 31, 2012, from $665.0 million for the three months ended March 31, 2011. The decrease was driven by a decline of $16.3 million or 2.7% in packaging net sales as a result of weakness in the consumer, auto/industrial and networking end markets, partially offset by strength in the communications end market. The decrease in packaging net sales was partially offset by a $6.4 million or 9.5% increase in our test net sales. The increase in test net sales was the result of strength in the communications end market.
Our capital additions totaled $123.9 million or 18.9% of net sales for the three months ended March 31, 2012, compared to $105.0 million or 15.8% of net sales for the three months ended March 31, 2011. During the three months ended March 31, 2012, 43.2% of our capital additions were made in packaging, 39.6% in test and 17.2% for research and development and infrastructure projects.
Labor costs as a percentage of net sales decreased to 14.0% for the three months ended March 31, 2012, from 14.2% for the three months ended March 31, 2011. Labor costs as a percentage of sales, and in absolute dollars, decreased due to a decline in our severance obligation in Korea, as well as labor savings from our restructuring activities. These costs savings were partially offset by a $5.5 million charge for the restructuring activities at our manufacturing operations in Japan for the three months ended March 31, 2012.
of J-Devices. The reduction in foreign currency losses of $0.9 million during the three months ended March 31, 2012, was primarily attributable to lower net monetary liabilities denominated in foreign currencies. In addition, our equity in earnings of J-Devices increased by $0.5 million during the three months ended March 31, 2012.
Cash provided by operating activities was $56.1 million for the three months ended March 31, 2012, compared to cash provided by operating activities of $120.2 million for the three months ended March 31, 2011. We were free cash flow negative for the three months ended March 31, 2012. Free cash flow decreased $71.3 million to $(65.0) million from the prior year comparable period primarily due to increased accounts receivable, lower gross profit and increased purchases of property, plant and equipment.
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