- Revenue Increases 18.2% Compared to 1Q23
- Gross Margin Increases 490 Basis Points from 1Q23 to 17.3%
- Overall Utilization Rate Increased to 60% from 52% in 1Q23
- Net Earnings Increase to NT$0.86 orUS$0.03per Basic Common Share orUS$0.56per Basic ADS, 207% Growth Compared to 1Q23
- Strong Financial Position and Liquidity with NT$12,293.1 Million orUS$394.8 MillionBalance of Cash and Cash Equivalents
- Distributed Cash Dividend of NT$2.3 Per Common Share onJuly 20, 2023andUS$1.477Per ADS onJuly 27, 2023
HSINCHU,Aug. 3, 2023/PRNewswire-FirstCall/ --ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange:8150andNASDAQ:IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported consolidated financial results for the second quarter endedJune 30, 2023.All U.S. dollar figures cited in this press release are based on the exchange rate ofNT$31.14againstUS$1.00as ofJune 30, 2023.
All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards ("Taiwan-IFRS").
Revenue for the second quarter of 2023 wasNT$5,444.1 millionorUS$174.8 million, an increase of 18.2% fromNT$4,605.1 millionorUS$147.9 millionin the first quarter of 2023 and a decrease of 20.5% fromNT$6,851.7 millionorUS$220.0 millionfor the same period in 2022. Revenue growth in the second quarter of 2023 was led by improvements in the Company's memory and LCD driver businesses, which drove an increase in its overall utilization rate to 60% from 52% in the first quarter of 2023.
Net non-operating income in the second quarter of 2023 wasNT$222.4 millionorUS$7.1 million, compared toNT$43.5 millionorUS$1.4 millionin the first quarter of 2023, andNT$308.9 millionorUS$9.9 millionin the second quarter of 2022. The second quarter of 2023 improvement reflects the benefit of positive foreign exchange impact ofNT$194 millionorUS$6.2 millionfrom the foreign exchange losses ofNT$44 millionorUS$1.4 millionin the first quarter of 2023 to the foreign exchange gains ofNT$150 millionorUS$4.8 millionin the second quarter of 2023. This was partially offset by a decrease in the gain on valuation of financial assets at fair value through profit or loss ofNT$21 millionorUS$0.7 million.The difference between the second quarter of 2022 is mainly due to a decrease of share of profit of associates accounted for using equity method ofNT$94 millionorUS$3.0 million, a lower foreign exchange gains ofNT$75 millionorUS$2.4 million.It was partially offset by the positive valuation of financial assets at fair value through profit or loss impact ofNT$56 millionorUS$1.8 millionfrom loss on valuation of financial assets at fair value through profit or loss ofNT$52 millionorUS$1.7 millionin the second quarter of 2022 to gain on valuation of financial assets at fair value through profit or loss ofNT$4 millionorUS$0.1 millionin the second quarter of 2023 and the decrease of net interest expense ofNT$16 millionorUS$0.5 million.
Net profit attributable to equity holders of the Company for the second quarter of 2023 wasNT$628.5 millionorUS$20.2 million, andNT$0.86orUS$0.03per basic common share, as compared toNT$202.4 millionorUS$6.5 million, andNT$0.28orUS$0.01per basic common share in the first quarter of 2023. This compares to NT$1,320.6 million orUS$42.4 million, andNT$1.82orUS$0.06per basic common share in the second quarter of 2022. Net earnings for the second quarter of 2023 wereUS$0.56per basic ADS, compared toUS$0.18per basic ADS for the first quarter of 2023 andUS$1.17per basic ADS in the second quarter of 2022.
Free cash flow for the first half of 2023 wasNT$1,950.0 millionorUS$62.6 million, with a balance of cash and cash equivalents wasNT$12,293.1 millionorUS$394.8 million.
Second Quarter 2023 Investor Conference Call / Webcast Details
Date:Thursday, August 3, 2023
Time: 3:00PMTaiwan(3:00AMNew York)
Dial-In: +886-2-33961191
Password: 9514003 #
Webcast and Replay:https://www.chipmos.com/chinese/ir/info2.aspx
Replay Starting 2 Hours After Live Call Ends
Language: Mandarin
Note:A transcript will be provided on the Company's website in English following the conference call to help ensure transparency, and to facilitate a better understanding of the Company's financial results and operating environment.
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange:8150andNASDAQ:IMOS) (www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park inTaiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.
Forward-Looking Statements
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are 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 Jesse Huang ChipMOS TECHNOLOGIES INC. +886-6-5052388 ext. 7715 |
In the U.S. David Pasquale Global IR Partners +1-914-337-8801 |
SOURCE ChipMOS TECHNOLOGIES INC.
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