ChipMOS REPORTS 27.9% MoM INCREASE IN MARCH 2023; 1.7% QoQ DECREASE IN 1Q23 REVENUE

Rhea-AI Summary

ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS) reported its unaudited revenue for March 2023 and Q1 2023. March 2023 revenue was NT$1,837.7 million (US$60.3 million), a 27.9% increase from February but a 22.0% decrease from March 2022. Q1 2023 revenue totaled NT$4,605.1 million (US$151.1 million), down 1.7% from Q4 2022 and 31.5% year-over-year. The company attributes Q1's decline to fewer working days and seasonal trends. Despite the overall decline, the month of March marks the second consecutive month of revenue growth, driven by increased demand for LCD drivers amid industry-wide inventory adjustments.

Positive

• March 2023 revenue increased by 27.9% month-over-month.
• Second consecutive month of revenue growth indicating demand recovery.

Negative

• Q1 2023 revenue decreased by 31.5% year-over-year.
• Q1 2023 revenue down 1.7% from Q4 2022.

HSINCHU, April 10, 2023 /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 March 2023 and for the first quarter ended March 31, 2023. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.48 to US$1.00 as of March 31, 2023.

Revenue for the first quarter of 2023 was NT$4,605.1 million or US$151.1 million, representing a decrease of 1.7% from the fourth quarter of 2022, and a decrease of 31.5% from the first quarter of 2022. Q1 is typically a slower period for the industry with fewer working days than Q4.

Revenue for the month of March 2023 was NT$1,837.7 million or US$60.3 million, representing an increase of 27.9% from February 2023, and a decrease of 22.0% from March 2022. The Company noted March represents the second sequential month of revenue growth reflecting a pick-up in demand of LCD drivers. This follows industry-wide inventory adjustments, as the Company continues to work with customers to navigate demand and loading levels.

Consolidated Monthly Revenues (Unaudited)
	March 2023	February 2023	March 2022	MoM Change	YoY Change
Revenues    (NT$ million)	1,837.7	1,437.3	2,355.3	27.9 %	-22.0 %
Revenues    (US$ million)	60.3	47.2	77.3	27.9 %	-22.0 %

 

Consolidated Quarterly Revenues (Unaudited)
	First Quarter 2023	Fourth Quarter 2022	First Quarter 2022	QoQ Change	YoY Change
Revenues    (NT$ million)	4,605.1	4,686.2	6,725.2	-1.7 %	-31.5 %
Revenues    (US$ million)	151.1	153.7	220.6	-1.7 %	-31.5 %

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (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 is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.

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, strategies, 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. 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 were ChipMOS' Q1 2023 revenues?

ChipMOS reported Q1 2023 revenues of NT$4,605.1 million (US$151.1 million), a decrease of 31.5% year-over-year.

How did ChipMOS perform in March 2023?

In March 2023, ChipMOS reported revenues of NT$1,837.7 million (US$60.3 million), a 27.9% increase from February 2023.

What factors contributed to ChipMOS' revenue decline in Q1 2023?

The revenue decline in Q1 2023 was influenced by fewer working days and seasonal trends.

Is the demand for ChipMOS services improving?

Yes, March 2023 marks the second consecutive month of revenue growth, indicating a pickup in demand, particularly for LCD drivers.

How did ChipMOS' March 2023 revenue compare to March 2022?

March 2023 revenue decreased by 22.0% compared to March 2022.