ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2014 RESULTS

First Quarter 2015 Outlook

The Company expects first quarter of 2015 revenue to decrease approximately 8% to 12%, as compared to the fourth quarter of 2014, primarily reflecting seasonality in LCD driver for small panels and memory products. The Company expects gross margin on a consolidated basis to be in the range of approximately 21% to 24% for the first quarter of 2015.  The Company anticipates depreciation and amortization expenses for the first quarter of 2015 to be approximately US$24 million.  Operating expenses are expected to be approximately 6% to 8% of revenues in the first quarter of 2015.  The Company expects CapEx spending to be approximately US$37 million in the first quarter of 2015, with CapEx spending for the full year 2015 to be less than US$125 million.  The total number of the Company's outstanding common shares at the end of the first quarter of 2015 is expected to be approximately 29 million.

Investor Conference Call / Webcast Details

ChipMOS will review detailed fourth quarter 2014 results on Thursday, March 12, 2015 at 7:00PM Eastern Time (7:00 AM Taiwan time, Friday, March 13, 2015). 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 13600924.

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 test 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 and the Year Ended Dec. 31, 2014 and Dec. 31, 2013

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

Except for Per Share Amounts and Shares Outstanding



3 months ended


Year ended


Dec. 31, 2014


Dec. 31, 2013


Dec. 31, 2014


Dec. 31, 2013


USD


USD


USD


USD

Revenue                                                                    

183.4


154.7


696.4


612.7

Cost of revenue

(137.2)


(125.3)


(531.1)


(503.9)

Gross profit

46.2


29.4


165.3


108.8









Other operating income

3.1


0.4


5.8


14.0

Research and development expenses

(5.6)


(5.1)


(21.5)


(17.9)

Sales and marketing expenses

(0.7)


(0.8)


(3.2)


(3.4)

Administrative and general expenses

(6.1)


(6.1)


(23.9)


(22.1)

Other operating expenses

0.0


(1.1)


(4.6)


(3.2)









Operating profit

36.9


16.7


117.9


76.2









Non-operating income (expenses), net

5.2


1.9


7.9


3.4









Profit (loss) before tax

42.1


18.6


125.8


79.6









Income tax benefit (expense)

(10.2)


(11.8)


(32.8)


(26.2)









Profit (loss) for the year

31.9


6.8


93.0


53.4









Attributable to:








Equity holders of the Company

18.7


5.4


52.6


42.2

  Non-controlling interests

13.2


1.4


40.4


11.2


31.9


6.8


93.0


53.4









Profit (loss) for the year

31.9


6.8


93.0


53.4

Other comprehensive income (loss)








Exchange differences on translation of
  foreign operations

0.7


0.3


0.9


0.9

Net actuarial losses

(0.5)


(1.0)


(0.5)


(1.0)

Income tax effect

0.1


0.2


0.1


0.2

Total other comprehensive income (loss)

0.3


(0.5)


0.5


0.1









Total comprehensive income (loss)

32.2


6.3


93.5


53.5









Attributable to:








Equity holders of the Company

18.7


4.5


52.8


41.9

  Non-controlling interests

13.5


1.8


40.7


11.6


32.2


6.3


93.5


53.5









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

0.64


0.18


1.78


1.44

Shares outstanding (in thousands) - basic

29,003


29,621


29,527


29,319

Net income (loss) attributable to the
  Company -diluted

18.6


5.4


52.6


42.2

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

0.63


0.18


1.74


1.40

Shares outstanding (in thousands) - diluted

29,627


30,357


30,244


30,162









Note:

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$31.60 against US$1.00 as of Dec. 31, 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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