ChipMOS REPORTS SECOND QUARTER 2014 RESULTS

Third Quarter 2014 Outlook

The Company expects revenue of third quarter of 2014 to increase approximately 3% to 7% as compared to the second quarter of 2014. The Company expects gross margin on a consolidated basis to be in the range of approximately 23% to 26% for the third quarter of 2014.  The Company expects depreciation and amortization expenses for the third quarter of 2014 to be approximately US$25 million.  Operating expenses are expected to be approximately 6% to 8% of revenues in the third quarter of 2014.  The Company expects CapEx spending in support of existing customer demand to be approximately US$24 million in the third quarter of 2014, with CapEx spending for the full year 2014 to be approximately US$110 million. The total number of the Company's outstanding common shares at the end of the third quarter of 2014 is expected to be approximately 29 million.

Investor Conference Call / Webcast Details

ChipMOS will review detailed second quarter 2014 results on Tuesday, August 12, 2014 at 7:00 p.m. Eastern Time (7:00 a.m. Taiwan time, Wednesday, August 13, 2014). The conference call-in number is +1-201-689-8562.  A live webcast of the conference call will be available at ChipMOS' website at http://www.chipmos.com.  The playback is scheduled to be available in 2 hours after the conclusion of the conference call and will be accessible by dialing +1-858-384-5517, with confirmation ID number 13587160.

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:

ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) ( http://www.chipmos.com) is an industry leading provider of semiconductor assembly and testing services. 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. The Company's majority-owned subsidiary, ChipMOS Taiwan, is listed on TWSE under Stock Ticker 8150.

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 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.

- FINANCIAL TABLES FOLLOW BELOW -


 

ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended Jun. 30, Mar. 31, 2014, and Jun. 30, 2013

Figures in Million of U.S. dollars (USD) (1)

Except for Per Share Amounts and Shares Outstanding



3 months ended


Jun. 30, 2014


Mar. 31, 2014


Jun. 30, 2013


USD


USD


USD

Revenue

181.2


167.0


165.4

Cost of revenue

(138.5)


(134.0)


(139.9)

Gross profit

42.7


33.0


25.5







Other operating income

1.4


0.6


9.2

Research and development expenses                                                            

(5.6)


(5.7)


(4.7)

Sales and marketing expenses

(0.8)


(0.9)


(0.9)

Administrative and general expenses

(7.1)


(5.9)


(6.3)

Other operating expenses

(2.4)


(0.5)


(2.2)







Operating profit

28.2


20.6


20.6







Non-operating income (expense), net

(4.4)


4.0


0.5







Profit (loss) before tax

23.8


24.6


21.1







Income tax benefit (expense)

(8.5)


(8.7)


(6.5)







Profit (loss) for the year

15.3


15.9


14.6







Attributable to:






Equity holders of the Company

5.7


11.1


12.0

  Non-controlling interests

9.6


4.8


2.6


15.3


15.9


14.6







Profit (loss) for the year

15.3


15.9


14.6

Other comprehensive income (loss):






Exchange differences on translation of  foreign 
  operations

(0.4)


0.1


0.3

Net actuarial losses

-


-


-

Income tax effect

-


-


-

Total other comprehensive income (loss)

(0.4)


0.1


0.3







Total comprehensive income (loss)

14.9


16.0


14.9







Attributable to:






Equity holders of the Company

5.4


11.1


12.3

  Non-controlling interests

9.5


4.9


2.6


14.9


16.0


14.9







Earnings (loss) per share attributable to the 
  Company – basic

0.19


0.37


0.41

Shares outstanding (in thousands) – basic

29,801


29,727


29,197

Net income (loss) attributable to the Company – 
  diluted

5.7


11.1


12.0

Earnings (loss) per share attributable to the 
  Company – diluted

0.19


0.36


0.40

Shares outstanding (in thousands) – diluted

30,522


30,467


29,884







Note:

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$29.87 against US$1.00 as of Jun. 30, 2014. The

convenience translation should not be construed as representations that the NT dollar amounts have been, or could be in the future be,

converted into US dollars at this or any other exchange rate.

 


 


ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended Jun. 30, Mar. 31, 2014, and Jun. 30, 2013

Figures in Million of NT dollars (NTD)

Except for Per Share Amounts and Shares Outstanding



3 months ended


Jun. 30, 2014


Mar. 31, 2014


Jun. 30, 2013


NTD


NTD


NTD

Revenue

5,413.4


4,989.0


4,939.2

Cost of revenue

(4,135.7)


(4,003.0)


(4,179.2)

Gross profit

1,277.7


986.0


760.0







Other operating income

40.5


19.2


275.5

Research and development expenses

(169.0)


(170.0)


(141.8)

Sales and marketing expenses

(24.4)


(27.3)


(26.8)

Administrative and general expenses

(210.8)


(176.1)


(187.9)

Other operating expenses

(73.1)


(15.6)


(64.4)







Operating profit

840.9


616.2


614.6







Non-operating income (expense), net

(130.4)


118.6


14.0







Profit (loss) before tax

710.5


734.8


628.6







Income tax benefit (expense)

(253.8)


(258.9)


(192.6)







Profit (loss) for the year

456.7


475.9


436.0







Attributable to:






Equity holders of the Company

169.8


331.1


358.5

  Non-controlling interests

286.9


144.8


77.5


456.7


475.9


436.0







Profit (loss) for the year

456.7


475.9


436.0

Other comprehensive income (loss):






Exchange differences on translation of foreign 
  operations        

(12.5)


2.3


9.4

Net actuarial losses

-


-


-

Income tax effect

-


-


-

Total other comprehensive income (loss)

(12.5)


2.3


9.4







Total comprehensive income (loss)

444.2


478.2


445.4







Attributable to:






Equity holders of the Company

162.1


332.5


366.4

  Non-controlling interests

282.1


145.7


79.0


444.2


478.2


445.4







Earnings (loss) per share attributable to the 
  Company – basic

5.70


11.14


12.28

Shares outstanding (in thousands) – basic

29,801


29,727


29,197

Net income (loss) attributable to the Company –
  diluted

169.8


331.1


358.5

Earnings (loss) per share attributable to the 
  Company – diluted

5.56


10.87


12.00

Shares outstanding (in thousands) – diluted

30,522


30,467


29,884







 


 



ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of Jun. 30, Mar. 31, 2014, and Jun. 30, 2013

Figures in Million of U.S. dollars (USD) (1)





Jun. 30, 2014


Mar. 31, 2014


Jun. 30, 2013

ASSETS

USD


USD


USD

Non-current assets






Available-for-sale financial assets

0.3


0.3


0.4

Property, plant & equipment

424.8


422.8


404.7

Other non-current assets

10.9


10.8


17.3

Total non-current assets

436.0


433.9


422.4







Current assets






Inventories

52.8


50.3


56.2

Accounts and notes receivable

145.4


139.4


143.7

Short-term deposits

9.8


9.3


6.6

Other current assets

7.3


8.7


11.8

Cash and cash equivalents

453.9


412.0


371.2

Total current assets

669.2


619.7


589.5

Total assets

1,105.2


1,053.6


1,011.9







EQUITY AND LIABILITIES






EQUITY






Issued capital

1.2


1.2


1.3

Capital surplus

398.7


394.7


390.7

Treasury stock

-


-


(19.4)

Retained earnings

60.1


54.4


34.8

Other component of equity

14.5


14.7


14.6

Equity attributable to equity holders of the Company

474.5


465.0


422.0

Non-controlling interests

252.6


242.1


141.2

Total equity

727.1


707.1


563.2







LIABILITIES






Non-current liabilities






Bank loans – non-current portion

99.0


99.4


182.5

Other non-current liabilities

19.5


19.6


15.8

Total non-current liabilities

118.5


119.0


198.3







Current liabilities






Accounts payable and payables to contractors and 
    equipment suppliers

48.3


42.1


48.8

Other current liabilities

102.2


77.4


72.5

Bank loans – current portion

74.5


75.8


82.2

Short-term bank loans

34.6


32.2


46.9

Total current liabilities

259.6


227.5


250.4

Total liabilities

378.1


346.5


448.7

Total equity and liabilities

1,105.2


1,053.6


1,011.9







Note:

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$29.87 against US$1.00 as of Jun. 30, 2014. The convenience

translation should not be construed as representations that the NT dollar amounts have been, or could be in the future be, converted into US

dollars at this or any other exchange rate.

 

 


ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of Jun. 30, Mar. 31, 2014, and Jun. 30, 2013

Figures in Million of NT dollars (NTD)




Jun. 30, 2014


Mar. 31, 2014


Jun. 30, 2013

ASSETS

NTD


NTD


NTD

Non-current assets






Available-for-sale financial assets

8.6


8.6


11.6

Property, plant & equipment

12,687.0


12,630.1


12,088.6

Other non-current assets

326.6


323.4


515.6

Total non-current assets

13,022.2


12,962.1


12,615.8







Current assets






Inventories

1,578.4


1,503.5


1,678.3

Accounts and notes receivable

4,342.5


4,162.9


4,292.3

Short-term deposits

292.9


277.3


196.2

Other current assets

217.3


258.8


353.9

Cash and cash equivalents

13,557.9


12,307.8


11,088.4

Total current assets

19,989.0


18,510.3


17,609.1

Total assets

33,011.2


31,472.4


30,224.9







EQUITY AND LIABILITIES






EQUITY






Issued capital

34.9


34.8


39.3

Capital surplus

11,909.4


11,789.2


11,669.1

Treasury stock

-


-


(581.7)

Retained earnings

1,795.6


1,625.6


1,040.8

Other component of equity

432.4


440.1


436.8

Equity attributable to equity holders of the Company

14,172.3


13,889.7


12,604.3

Non-controlling interests

7,546.1


7,233.2


4,218.4

Total equity

21,718.4


21,122.9


16,822.7







LIABILITIES






Non-current liabilities






Bank loans – non-current portion

2,957.8


2,968.2


5,449.7

Other non-current liabilities

582.4


585.6


472.2

Total non-current liabilities

3,540.2


3,553.8


5,921.9







Current liabilities






Accounts payable and payables to contractors and 
    equipment suppliers

1,443.6


1,259.1


1,458.7

Other current liabilities

3,051.2


2,311.3


2,164.2

Bank loans – current portion

2,225.0


2,263.1


2,456.5

Short-term bank loans

1,032.8


962.2


1,400.9

Total current liabilities

7,752.6


6,795.7


7,480.3

Total liabilities

11,292.8


10,349.5


13,402.2

Total equity and liabilities

33,011.2


31,472.4


30,224.9








 

Contact s :

In Taiwan

In the U.S.

Dr. S.K. Chen

David Pasquale

ChipMOS TECHNOLOGIES (Bermuda) LTD.

Global IR Partners

+886-6-507-7712

+1-914-337-8801

s.k._chen@chipmos.com  

dpasquale@globalirpartners.com

SOURCE ChipMOS TECHNOLOGIES ( Bermuda ) LTD.

Contact:
ChipMOS TECHNOLOGIES (Bermuda) LTD.
ThaiLin Semiconductor Corp.
MODERN MIND TECHNOLOGY LIMITED
ChipMOS TECHNOLOGIES (Shanghai) LTD.
ChipMOS U.S.A., Inc.
Web: http://www.chipmos.com



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