ChipMOS REPORTS SECOND QUARTER 2015 RESULTS

S.K. Chen, Chief Financial Officer of ChipMOS, said, "We generated US$93.4 million cash from our operations in 2Q15 and ended the quarter with a balance of US$475.1 million in cash and cash equivalents. Our net debt to equity ratio was -41.4% as of June 30, 2015 compared to -52.3% as of March 31, 2015, with a net cash balance of US$200.6 million as of June 30, 2015. This is after we paid US$46.8 million in cash related to the ThaiLin merger on June 17, 2015 and after investing US$22.8 million in 2Q15 CapEx. We incurred income tax expenses of US$11.7 million in Q215, which included US$7.5 million for a dividend distribution withholding tax. We also incurred a US$1.7 million foreign exchange loss in 2Q15, which led to the increase of our non-operating expenses to US$1.9 million. Overall, we continue to maintain a healthy gross margin and generate strong free cash flow levels, while investing in the customer programs and technologies that will drive our future growth, and while actively reducing our balance of outstanding debt."

Selected Operation Data







2Q15

1Q15

Revenue by segment



   Testing

24%

23%

   Assembly

31%

31%

   LCD Driver 

27%

26%

Bumping

18%

20%




Utilization by segment



   Testing

65%

68%

   Assembly

62%

64%

   LCD Driver

75%

78%

Bumping

71%

75%

   Overall

68%

71%




CapEx

US$22.8 million

US$32.7 million

   Testing

22%

24%

   Assembly

29%

17%

LCD Driver

30%

50%

   Bumping

19%

9%




Depreciation and amortization expenses

US$24.4 million

US$23.7 million







Condensed consolidated statements of cash flows


Period ended

Jun. 30, 2015


Period ended

Jun. 30, 2014



US$ million


US$ million

Net cash generated from (used in) operating activities


93.4


87.0

Net cash generated from (used in) investing activities


(85.6)


(58.1)

Net cash generated from (used in) financing activities


(27.6)


(23.0)

Net increase (decrease) in cash and cash equivalents


(19.8)


5.9

Effect of exchange rate changes on cash


0.5


0.1

Cash and cash equivalents at beginning of period


494.4


433.1

Cash and cash equivalents at end of period


475.1


439.1


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