ChipMOS REPORTS FIRST QUARTER 2015 RESULTS

 

 

Condensed consolidated statements of cash flows


Period ended

Mar. 31, 2015


Period ended

Mar. 31, 2014



US$ million


US$ million

Net cash generated from (used in) operating activities


66.2


45.4

Net cash generated from (used in) investing activities


(58.5)


(34.8)

Net cash generated from (used in) financing activities


22.0


(44.7)

Net increase (decrease) in cash and cash equivalents


29.7


(34.1)

Effect of exchange rate changes on cash


0.1


0.0

Cash and cash equivalents at beginning of period


488.6


428.1

Cash and cash equivalents at end of period


518.4


394.0

 

Second Quarter 2015 Outlook

The Company expects second quarter of 2015 revenue to be flat to down in the low single digits as compared to the first quarter of 2015. The Company expects gross margin on a consolidated basis to be in the range of approximately 20% to 24% for the second quarter of 2015.  The Company anticipates depreciation and amortization expenses for the second quarter of 2015 to be approximately US$24 million.  Operating expenses are expected to be approximately 6% to 8% of revenues in the second quarter of 2015.  The Company expects CapEx spending to be approximately US$28 million in the second 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 second quarter of 2015 is expected to be approximately 29 million.

Investor Conference Call / Webcast Details

ChipMOS will review detailed first quarter 2015 results on Monday, May 11, 2015 at 7:00 PM Eastern Time (7:00 AM Taiwan time, Tuesday, May 12, 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 13606725.

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 assembly and test 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 Mar. 31, 2015, Dec. 31, and Mar. 31, 2014

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

Except for Per Share Amounts and Shares Outstanding



3 months ended


Mar. 31, 2015


Dec. 31, 2014


Mar. 31, 2014


USD


USD


USD

Revenue

167.0


185.5


159.7

Cost of revenue

(128.2)


(138.8)


(128.1)

Gross profit

38.8


46.7


31.6







Other operating income

0.8


3.1


0.6

Research and development expenses

(5.5)


(5.6)


(5.5)

Sales and marketing expenses

(0.8)


(0.7)


(0.9)

Administrative and general expenses

(5.5)


(6.3)


(5.6)

Other operating expenses

0.0


(0.0)


(0.5)







Operating profit

27.8


37.2


19.7







Non-operating income (expenses), net

(1.0)


5.3


3.8







Profit (loss) before tax

26.8


42.5


23.5







Income tax benefit (expense)

(4.9)


(10.3)


(8.3)







Profit (loss) for the year

21.9


32.2


15.2







Attributable to:






Equity holders of the Company

12.1


18.8


10.6

  Non-controlling interests

9.8


13.4


4.6


21.9


32.2


15.2







Profit (loss) for the year

21.9


32.2


15.2

Other comprehensive income (loss)






Exchange differences on translation of  foreign operations

(0.2)


0.8


0.1

Net actuarial losses

-


(0.5)


-

Income tax effect

-


0.1


-

Total other comprehensive income (loss)

(0.2)


0.4


0.1







Total comprehensive income (loss)

21.7


32.6


15.3







Attributable to:






Equity holders of the Company

12.0


19.0


10.6

  Non-controlling interests

9.7


13.6


4.7


21.7


32.6


15.3







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

0.42


0.65


0.36

Shares outstanding (in thousands) - basic

28,549


29,003


29,727

Net income (loss) attributable to the Company - diluted

12.1


18.8


10.6

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

0.42


0.64


0.35

Shares outstanding (in thousands) - diluted

29,125


29,627


30,467







Note:

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$31.24 against US$1.00 as of Mar. 31, 2015. 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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