ChipMOS REPORTS 10.7% YEAR-OVER-YEAR INCREASE IN 2Q20 REVENUE; JUNE MONTHLY REVENUE INCREASES 9.0% YEAR-OVER-YEAR

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ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS) reported its unaudited consolidated revenue for June 2020 and Q2 2020. Q2 revenue reached NT$5,428.1 million (US$184.4 million), marking a 10.7% increase year-over-year but a 2.8% decline from Q1 2020. June revenue was NT$1,784.5 million (US$60.6 million), up 9.0% from June 2019 but down 0.3% from May 2020. The company noted high demand for DRAM and NOR flash due to growth in cloud storage, 5G networks, and gaming, despite ongoing challenges in the smartphone and TV sectors.

Positive

• Q2 2020 revenue of NT$5,428.1 million (US$184.4 million) increased by 10.7% YoY.
• June 2020 revenue of NT$1,784.5 million (US$60.6 million) rose by 9.0% YoY.
• Achieved six-year record high for second quarter revenue.
• Strong demand for DRAM and NOR flash driven by cloud services and gaming.

Negative

• Q2 revenue decreased by 2.8% compared to Q1 2020.
• June revenue slightly declined by 0.3% from May 2020.
• DDIC revenue affected by softness in smartphone and TV markets.

HSINCHU, July 10, 2020 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of June 2020 and for the second quarter ended June 30, 2020. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.44 to US$1.00 as of June 30, 2020.

Revenue for the second quarter of 2020 was NT$5,428.1 million or US$184.4 million, representing an increase of 10.7% from the second quarter of 2019, and a decrease of 2.8% from the first quarter of 2020.

Revenue for the month of June 2020 was NT$1,784.5 million or US$60.6 million, representing an increase of 9.0% from June 2019, and a decrease of 0.3% from May 2020.  

The Company noted this represents a six year record high for its second quarter revenue. ChipMOS continues to benefit from growth in its memory business, led by DRAM and NOR flash demand in support of cloud-based storage services and applications, ongoing 5G network buildouts worldwide, and higher demand from the gaming market and in support of increased work and school from home needs.  Within its DRAM business, commodity DRAM was stronger in the second quarter 2020 than niche DRAM.  DDIC revenue was impacted by continued softness in smartphones and TVs, both of which are positioned for a potential rebound in growth in the second half of 2020 due to rationalized inventory in the supply chain along with an expected demand recovery.

Consolidated Monthly Revenues (Unaudited)
	June 2020	May 2020	June 2019	MoM Change	YoY Change
Revenues (NT$ million)	1,784.5	1,789.3	1,636.7	-0.3%	9.0%
Revenues (US$ million)	60.6	60.8	55.6	-0.3%	9.0%

 

Consolidated Quarterly Revenues (Unaudited)
	Second Quarter 2020	First Quarter 2020	Second Quarter 2019	QoQ Change	YoY Change
Revenues (NT$ million)	5,428.1	5,586.8	4,905.3	-2.8%	10.7%
Revenues (US$ million)	184.4	189.8	166.6	-2.8%	10.7%

 

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries. 

Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors, including the potential impact of COVID-19.  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.

Contacts:

In Taiwan Jesse Huang ChipMOS TECHNOLOGIES INC. +886-6-5052388 ext. 7715 IR@chipmos.com

In the U.S. David Pasquale Global IR Partners +1-914-337-8801 dpasquale@globalirpartners.com

 

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SOURCE ChipMOS TECHNOLOGIES INC.

FAQ

What was ChipMOS's revenue for Q2 2020?

ChipMOS reported NT$5,428.1 million (US$184.4 million) in revenue for Q2 2020.

What was the year-over-year revenue increase for ChipMOS in Q2 2020?

ChipMOS experienced a 10.7% year-over-year increase in revenue for Q2 2020.

How did ChipMOS's revenue in June 2020 compare to June 2019?

In June 2020, ChipMOS's revenue was NT$1,784.5 million (US$60.6 million), reflecting a 9.0% increase from June 2019.

What are the main drivers behind ChipMOS's revenue growth?

ChipMOS's revenue growth is primarily driven by strong demand for DRAM and NOR flash in cloud storage, 5G networks, and gaming.

Was there any decline in ChipMOS's revenue in June 2020?

Yes, ChipMOS's revenue in June 2020 decreased by 0.3% compared to May 2020.

What challenges did ChipMOS face in Q2 2020?

ChipMOS faced challenges due to reduced demand in the smartphone and TV markets, impacting DDIC revenue.