ChipMOS REPORTS NOVEMBER 2011 REVENUE; REITERATES OUTLOOK; COMMENCES SHARE REPURCHASE
Poster: SySAdmin
Posted on December 15, 2011 at 8:21:01 AM
ChipMOS REPORTS NOVEMBER 2011 REVENUE; REITERATES OUTLOOK; COMMENCES SHARE REPURCHASE
HSINCHU, Taiwan, Dec. 15, 2011 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today reported its unaudited consolidated revenue for the month of November 2011. The Company also announced it has commenced its previously announced share repurchase program of up to US$10 million of the Company's common shares. The Board approved share repurchase underscores the Company's continued commitment to its shareholders.
Revenue for the month of November 2011 was NT$1,524.9 million or US$50.3 million, a decrease of 6.0% from the month of October 2011 and an increase of 9.3% from the same period in 2010. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$30.31 against US$1.00 as of November 30, 2011.)
The Company noted that with revenue of NT$3,147.8 million or US$103.8 million for the first two months of the fourth quarter 2011, the quarter is developing inline with prior guidance reflecting customer order stability despite weakness in the broader global market. Strength in higher margin testing services helped offset expected declines in bumping and assembly services. The Company continues to expect fourth quarter of 2011 revenue to be flat to up or down in the single digits, as compared to third quarter of 2011 revenue of NT$4,461.5 million with gross margin on a consolidated basis in the range of 4.0% to 9.0%.
Consolidated Monthly Revenues (Unaudited)
November October November MoM YoY
2011 2011 2010 Change Change
--------- -------- --------- ------ ------
Revenues 1,524.9 1,622.9 1,394.8 -6.0% 9.3%
(NT$
million)
Revenues 50.3 53.5 46.0 -6.0% 9.3%
(US$
million)
ChipMOS' November 2011 consolidated revenues included revenues of ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), ChipMOS U.S.A., Inc., MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), and ThaiLin Semiconductor Corp. ("ThaiLin").
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS (http://www.chipmos.com) 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.
Forward-Looking Statements
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.
Contacts:
In Taiwan In the U.S.
--------- -----------
Dr. S.K. Chen Chesha Gibbons
ChipMOS TECHNOLOGIES Director of Investor
(Bermuda) LTD. Relations
+886-6-507-7712 +1-415-730-1307
s.k._chen@chipmos.com chesha_gibbons@chipmos.com
David Pasquale
Global IR Partners
+1-914-337-8801
dpasquale@globalirpartners.com
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.
ChipMOS TECHNOLOGIES (Bermuda) LTD.
Web Site: http://www.chipmos.com
HSINCHU, Taiwan, Dec. 15, 2011 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today reported its unaudited consolidated revenue for the month of November 2011. The Company also announced it has commenced its previously announced share repurchase program of up to US$10 million of the Company's common shares. The Board approved share repurchase underscores the Company's continued commitment to its shareholders.
Revenue for the month of November 2011 was NT$1,524.9 million or US$50.3 million, a decrease of 6.0% from the month of October 2011 and an increase of 9.3% from the same period in 2010. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$30.31 against US$1.00 as of November 30, 2011.)
The Company noted that with revenue of NT$3,147.8 million or US$103.8 million for the first two months of the fourth quarter 2011, the quarter is developing inline with prior guidance reflecting customer order stability despite weakness in the broader global market. Strength in higher margin testing services helped offset expected declines in bumping and assembly services. The Company continues to expect fourth quarter of 2011 revenue to be flat to up or down in the single digits, as compared to third quarter of 2011 revenue of NT$4,461.5 million with gross margin on a consolidated basis in the range of 4.0% to 9.0%.
Consolidated Monthly Revenues (Unaudited)
November October November MoM YoY
2011 2011 2010 Change Change
--------- -------- --------- ------ ------
Revenues 1,524.9 1,622.9 1,394.8 -6.0% 9.3%
(NT$
million)
Revenues 50.3 53.5 46.0 -6.0% 9.3%
(US$
million)
ChipMOS' November 2011 consolidated revenues included revenues of ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), ChipMOS U.S.A., Inc., MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), and ThaiLin Semiconductor Corp. ("ThaiLin").
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS (http://www.chipmos.com) 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.
Forward-Looking Statements
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.
Contacts:
In Taiwan In the U.S.
--------- -----------
Dr. S.K. Chen Chesha Gibbons
ChipMOS TECHNOLOGIES Director of Investor
(Bermuda) LTD. Relations
+886-6-507-7712 +1-415-730-1307
s.k._chen@chipmos.com chesha_gibbons@chipmos.com
David Pasquale
Global IR Partners
+1-914-337-8801
dpasquale@globalirpartners.com
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.
ChipMOS TECHNOLOGIES (Bermuda) LTD.
Web Site: http://www.chipmos.com