- 17.7% Increase in 1Q24 Revenue Compared to 1Q23
- 180 Basis Point Expansion in Gross Margin to 14.2% in 1Q24
Compared to 12.4% in 1Q23
- Net Earnings More than Doubled to NT$0.60 per Basic
Common Share Compared to NT$0.28 per
Basic Common Share in 1Q23
- Strong Financial Position and Liquidity
with NT$12,164.6 Million or US$381.0
Million Balance of Cash and Cash Equivalents
- Dividend of NT$1.8 per Common Share Authorized by the
Company's Board of Directors Pending Shareholder Approval at
May 2024 AGM
HSINCHU, May 9, 2024
/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
consolidated financial results for the first quarter ended
March 31, 2024. All U.S. dollar
figures cited in this press release are based on the exchange rate
of NT$31.93 against US$1.00 as of March 29,
2024.
All the figures were prepared in accordance with
Taiwan-International Financial Reporting Standards
("Taiwan-IFRS").
Revenue for the first quarter of 2024 was NT$5,418.7 million or US$169.7 million, a decrease of 5.4% from
NT$5,725.4 million or US$179.3 million in the fourth quarter of 2023
and an increase of 17.7% from NT$4,605.1
million or US$144.2 million
for the same period in 2023.
Net non-operating income in the first quarter of 2024 was
NT$156.3 million or US$4.9 million, compared to net non-operating
expenses of NT$137.0 million or
US$4.3 million in the fourth quarter
of 2023. The increase of net non-operating income compared to the
fourth quarter of 2023 is mainly due to an increase of the foreign
exchange gains of NT$348 million or
US$10.9 million from the foreign
exchange losses of NT$195 million or
US$6.1 million in the fourth quarter
of 2023 to the foreign exchange gains of NT$153 million or US$4.8
million in the first quarter of 2024 and partially offset by
the decrease of share of profit of associates accounted for using
equity method of NT$55 million or
US$1.7 million. Net non-operating
income was NT$43.5 million or
US$1.4 million in the first quarter
of 2023. The difference is mainly due to an increase of the
foreign exchange gains of NT$197
million or US$6.2 million from
the foreign exchange losses of NT$44
million or US$1.4 million in
the first quarter of 2023 to the foreign exchange gains of
NT$153 million or US$4.8 million in the first quarter of 2024 and
partially offset by the decrease of share of profit of associates
accounted for using equity method of NT$44
million or US$1.4 million,
rental income of NT$16 million or
US$0.5 million and interest income of
NT$13 million or US$0.4 million.
Net profit attributable to equity holders of the Company for the
first quarter of 2024 was NT$437.8
million or US$13.7 million,
and NT$0.60 or US$0.02 per basic common share, as compared to
NT$482.0 million or US$15.1 million, and NT$0.66 or US$0.02
per basic common share in the fourth quarter of 2023. This compares
to NT$202.4 million or US$6.3 million, and NT$0.28 or US$0.01
per basic common share in the first quarter of 2023. Net
earnings for the first quarter of 2024 were US$0.38 per basic ADS, compared to US$0.42 per basic ADS for the fourth quarter of
2023 and US$0.17 per basic ADS in the
first quarter of 2023.
Net free cash flow for the first quarter of 2024 was
NT$800.3 million or US$25.1 million, with a balance of cash and cash
equivalents was NT$12,164.6 million
or US$381.0 million. Given its strong
cash position and commitment to returning capital to shareholders,
the Company's Board of Directors authorized a new dividend of
NT$1.8 per common share pending
shareholder approval at the Company's May
2024 annual shareholders' meeting.
First Quarter 2024 Investor Conference Call / Webcast
Details
Date: Thursday, May 9,
2024
Time: 3:00PM Taiwan
(3:00AM New
York)
Dial-In: +886-2-33961191
Password: 1524509 #
Webcast and Replay:
https://www.chipmos.com/chinese/ir/info2.aspx
Replay: Starts approximately 2 hours after the 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: 8150 and Nasdaq: 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 in
Taiwan, 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
IR@chipmos.com
|
In the U.S.
David
Pasquale
Global IR
Partners
+1-914-337-8801
dpasquale@globalirpartners.com
|
View original
content:https://www.prnewswire.com/news-releases/chipmos-reports-first-quarter-2024-results-302140853.html
SOURCE ChipMOS TECHNOLOGIES INC.