HSINCHU, Taiwan, April 10, 2017 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of March 2017 and for the first quarter ended March 31, 2017.
Revenue for the first quarter of 2017, excluding revenue from ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), was NT$4,560.3 million or US$150.1 million, representing a decrease of 2.3% from the fourth quarter of 2016, and an increase of 2.5% from the first quarter of 2016. Revenue for the first quarter of 2017 was above the Company's prior guidance which called for a decline of approximately 4% to 8%, as compared to the fourth quarter of 2016. The better than expected results reflect further strength from diverse applications, including handsets and computing, and an improvement in the Company's LCD driver and memory businesses.
Revenue for the month of March 2017, excluding revenue from ChipMOS Shanghai, was NT$1,582.8 million or US$52.1 million, an increase of 11.4% from the month of February 2017 and an increase of 3.6% from the same period in 2016. The figures noted below in Table 1 exclude revenue from ChipMOS Shanghai under International Financial Reporting Standards Note (1). The figures referenced in Table 2 below reflect the inclusion of revenue from ChipMOS Shanghai.
All U.S. figures in this release are based on the exchange rate of NT$30.38 to US$1.00 as of March 31, 2017.
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Table 1: Consolidated Monthly Revenues (Unaudited; Excludes ChipMOS Shanghai Revenue) Note (1) | |||||
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|
March 2017 |
February 2017 |
March 2016 |
MoM Change |
YoY Change |
|
Revenues (NT$ million) |
1,582.8 |
1,421.0 |
1,527.3 |
11.4% |
3.6% |
|
Revenues (US$ million) |
52.1 |
46.8 |
50.3 |
11.4% |
3.6% |
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Table 1: Consolidated Quarterly Revenues (Unaudited; Excludes ChipMOS Shanghai Revenue) Note (1)) | |||||
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|
First Quarter 2017 |
Fourth Quarter 2016 |
First Quarter 2016 |
QoQ Change |
YoY Change |
|
Revenues (NT$ million) |
4,560.3 |
4,667.1 |
4,447.5 |
-2.3% |
2.5% |
|
Revenues (US$ million) |
150.1 |
153.6 |
146.4 |
-2.3% |
2.5% |
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Note (1): |
On November 30, 2016, the Company held a meeting of its Board of Directors and approved the authorization of its subsidiary, ChipMOS TECHNOLOGIES (BVI) LTD., to sell and transfer 54.98% equity interests of the wholly-owned subsidiary ChipMOS Shanghai. As of December 31, 2016, the Company had not yet transferred the equity interest to the transaction counterparties. As a result, ChipMOS Shanghai was classified under International Financial Reporting Standards as a discontinued operation of ChipMOS and the revenue generated by ChipMOS Shanghai was excluded from the revenue disclosed above as it will be on an ongoing basis. The Company will, however, recognize 45.02% of the net income generated from ChipMOS Shanghai upon closure of its proposed joint-venture agreement. The transaction was completed in March, 2017. |
Below table reflects monthly revenue including revenue generated by ChipMOS Shanghai.
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Table 2: Consolidated Monthly Revenues (Unaudited; Includes ChipMOS Shanghai Revenue) | |||||
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|
March 2017 |
February 2017 |
March 2016 |
MoM Change |
YoY Change |
|
Revenues (NT$ million) |
1,666.2 |
1,486.0 |
1,626.0 |
12.1% |
2.5% |
|
Revenues (US$ million) |
54.8 |
48.9 |
53.5 |
12.1% |
2.5% |
