ChipMOS REPORTS APRIL 2024 YEAR-OVER-YEAR REVENUE GROWTH

Rhea-AI Summary

ChipMOS Technologies Inc. reported a year-over-year revenue growth in April 2024, with a decrease of 3.4% from March 2024 but an increase of 2.5% from April 2023. The company attributed the sequential decline to one less working day in April compared to March, while noting broader end-market trends with continued momentum and inventory stabilization.

Insights

Financial Analyst

The reported revenue from ChipMOS for April 2024 indicates a slight year-over-year growth of 2.5%, which is a positive signal of the company's steady progress in the semiconductor industry. However, the 3.4% month-over-month decline is not necessarily a red flag, as it is attributed to operational factors, such as one less working day in April compared to March. This kind of seasonal fluctuation is common in the industry and typically doesn't reflect underlying business issues. From a retail investor's perspective, the key takeaway is the company's ability to maintain an upward trajectory in a year-over-year comparison, which suggests resilience in their business model and potential stability in their market segment. While short-term volatility is to be expected, the focus should be on the company's long-term ability to leverage industry trends and maintain inventory stabilization.

Semiconductor Industry Analyst

ChipMOS's announcement also sheds light on the broader semiconductor industry trends, highlighting inventory stabilization and sustained end-market momentum. These factors are critical in assessing ChipMOS's operational efficiency and market demand for its OSAT services. The semiconductor industry is known for its cyclical nature and inventory levels are a strong indicator of future production and demand. An increase in revenue year-over-year suggests that ChipMOS is aligning well with industry growth patterns, which could be due to new technology adoptions or expansion in market share. Additionally, the ability to maintain revenue streams despite seasonal and operational headwinds speaks to the strength of customer relations and the company's strategic planning. Retail investors should consider these aspects when evaluating ChipMOS's performance, as they signal the company's adeptness in navigating the semiconductor assembly and test services market.

HSINCHU, May 10, 2024 /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 April 2024. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$32.58 to US$1.00 as of April 30, 2024.

Revenue for the month of April 2024 was NT$1,867.6 million or US$57.3 million, representing a decrease of 3.4% from March 2024, and an increase of 2.5% from April 2023. The Company noted that its year-over-year growth in April reflects broader end-market trends with continued momentum and inventory stabilization, while the slight sequential decline reflects one less working day in April compared to March.

Consolidated Monthly Revenues (Unaudited)
	April 2024	March 2024	April 2023	MoM Change	YoY Change
Revenues    (NT$ million)	1,867.6	1,933.2	1,821.7	-3.4 %	2.5 %
Revenues    (US$ million)	57.3	59.3	55.9	-3.4 %	2.5 %

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

 

 

View original content:https://www.prnewswire.com/news-releases/chipmos-reports-april-2024-year-over-year-revenue-growth-302142035.html

SOURCE ChipMOS TECHNOLOGIES INC.

FAQ

What was ChipMOS Technologies Inc.'s revenue growth in April 2024?

ChipMOS Technologies Inc. reported a decrease of 3.4% from March 2024 but an increase of 2.5% from April 2023.

What were ChipMOS Technologies Inc.'s consolidated monthly revenues in April 2024?

The consolidated monthly revenues for April 2024 were NT$1,867.6 million or US$57.3 million.

What exchange rate was used in the press release for April 2024 revenue figures?

The exchange rate of NT$32.58 to US$1.00 was used for the revenue figures in April 2024.

What was the reason cited for the sequential decline in revenue from March 2024 to April 2024?

One less working day in April compared to March was cited as the reason for the sequential decline in revenue.