ChipMOS REPORTS THIRD QUARTER 2014 RESULTS

 

Condensed consolidated statements of cash flows


Period ended

Sep. 30, 2014


Period ended

Sep. 30, 2013



US$ million


US$ million

Net cash generated from (used in) operating activities


130.4


145.7

Net cash generated from (used in) investing activities


(88.7)


(79.8)

Net cash generated from (used in) financing activities


(10.5)


62.6

Net increase (decrease) in cash and cash equivalents


31.2


128.5

Effect of exchange rate changes on cash


(0.1)


(0.2)

Cash and cash equivalents at beginning of period


439.3


291.2

Cash and cash equivalents at end of period


470.4


419.5

Fourth Quarter 2014 Outlook

The Company expects revenue of fourth quarter of 2014 to be approximately flat to down in the low single digits, as compared to the third quarter of 2014. The Company expects gross margin on a consolidated basis to be in the range of approximately 23% to 26% for the fourth quarter of 2014.  The Company expects depreciation and amortization expenses for the fourth quarter of 2014 to be approximately US$23 million.  Operating expenses are expected to be approximately 6% to 8% of revenues in the fourth quarter of 2014.  The Company expects CapEx spending in support of existing customer demand to be approximately US$50 million in the fourth quarter of 2014, with CapEx spending for the full year 2014 to be approximately US$115 million as compared to US$110 million previously. The total number of the Company's outstanding common shares at the end of the fourth quarter of 2014 is expected to be approximately 29 million.

Investor Conference Call / Webcast Details

ChipMOS will review detailed third quarter 2014 results on Wednesday, November 12, 2014 at 7:00 p.m. Eastern Time (8:00 a.m. Taiwan time, Thursday, November  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 13592103.

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 Sep. 30, Jun. 30, 2014, and Sep. 30, 2013

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

Except for Per Share Amounts and Shares Outstanding



3 months ended



Sep. 30, 2014


Jun. 30, 2014


Sep. 30, 2013



USD


USD


USD


Revenue

190.7


177.8


167.9


Cost of revenue

(141.5)


(135.8)


(130.7)


Gross profit

49.2


42.0


37.2









Other operating income

0.9


1.3


1.3


Research and development expenses

(5.4)


(5.6)


(4.5)


Sales and marketing expenses

(0.9)


(0.8)


(1.1)


Administrative and general expenses

(5.7)


(6.9)


(5.8)


Other operating expenses

(1.9)


(2.4)


(0.1)









Operating profit

36.2


27.6


27.0









Non-operating income (expense), net

3.2


(4.3)


(2.9)









Profit (loss) before tax

39.4


23.3


24.1









Income tax benefit (expense)

(6.6)


(8.3)


(5.2)









Profit (loss) for the year

32.8


15.0


18.9









Attributable to:







Equity holders of the Company

18.8


5.6


14.5


  Non-controlling interests

14.0


9.4


4.4



32.8


15.0


18.9









Profit (loss) for the year

32.8


15.0


18.9


Other comprehensive income (loss):







Exchange differences on translation of  foreign operations

0.6


(0.4)


(0.1)


Net actuarial losses

-


-


-


Income tax effect

-


-


-


Total other comprehensive income (loss)

0.6


(0.4)


(0.1)









Total comprehensive income (loss)

33.4


14.6


18.8









Attributable to:







Equity holders of the Company

19.2


5.3


14.4


  Non-controlling interests

14.2


9.3


4.4



33.4


14.6


18.8









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

0.64


0.19


0.49


Shares outstanding (in thousands) – basic

29,585


29,801


29,554


Net income (loss) attributable to the Company –diluted

18.8


5.6


14.5


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

0.62


0.18


0.48


Shares outstanding (in thousands) – diluted

30,293


30,522


30,306



Note:

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$30.44 against US$1.00 as of Sep. 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.


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