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ChipMOS TECHNOLOGIES (Bermuda) LTD. – IMOS – Another strong quarter

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ChipMOS TECHNOLOGIES (Bermuda) LTD. (Nasdaq: IMOS) reported unaudited consolidated financial results for the second quarter ended June 30, 2012.  All U.S. dollar figures in this release are based on the exchange rate of NT$29.80 against US$1.00 as of June 29, 2012.

Net revenue on a US GAAP basis for the second quarter of 2012 was NT$4,829.3 million or US$162.1 million, an increase of 10.2% from NT$4,384.0 million or US$147.1 million in the first quarter of 2012 and an increase of 3.4% from NT$4,671.0 million or US$156.7 million for the second quarter of 2011.

Net income on a US GAAP basis for the second quarter of 2012 was NT$300.4 million or US$10.1 million, and NT$11.00 or US$0.37 per basic and NT$10.68 or US$0.36 per diluted common share, which compares to net loss of NT$170.0 million or US$5.7 million, and NT$6.29 or US$0.21 per basic and diluted common share, for the first quarter of 2012 and to a net loss of NT$4.1 million or US$0.1 million and NT$0.15 or US$0.01 per basic and diluted common share, for the second quarter of 2011.

The unaudited consolidated financial results of ChipMOS for the second quarter ended June 30, 2012 included the financial results of ChipMOS TECHNOLOGIES INC., ChipMOS U.S.A., Inc., MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor Corp.

IMOS Highlights:

  • 2Q12 Net Revenue Increases 10.2% Compared to 1Q12
  • 2Q12 Net Income of US$0.37 per Basic Share Compared to a Net Loss of US$0.21 in 1Q12
  • 2Q12 Gross Margin More than Doubled to 12.8% Compared to 6.2% in 1Q12
  • Company Generates US$16.0 Million of Free Cash Flow in 2Q12
  • Board Authorizes Management to Determine Whether to Enter into a New Repurchase Program
  • Company Expects 3Q12 Revenue Growth of 4% to 8% Compared to 2Q12, with Gross Margin on a Consolidated Basis in the Range of Approximately 12% to 18%

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:  – IMOS

ChipMOS (IMOS) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

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edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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