ChipMOS REPORTS JANUARY 2023 REVENUE

Rhea-AI Summary

ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS) reported January 2023 revenue of NT$1,330.2 million (US$44.3 million), marking a 14.4% decline from December 2022 and a significant 41.5% drop compared to January 2022. The company attributes this decline to ongoing macroeconomic challenges, customer inventory adjustments, and fewer working days due to the Lunar New Year holiday. Despite these challenges, ChipMOS believes it is well-positioned for recovery, citing stronger exposure to non-consumer segments, prior improvements in operational efficiency, and a solid balance sheet.

Positive

• Strong balance sheet indicating financial stability.
• Higher exposure to non-consumer segments, potentially mitigating some market fluctuations.

Negative

• Revenue declined 14.4% month-over-month and 41.5% year-over-year.
• Continued macroeconomic weakness affecting demand.

HSINCHU, Feb. 10, 2023 /PRNewswire/ -- 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 January 2023. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.03 to US$1.00 as of January 31, 2023.

Revenue for the month of January 2023 was NT$1,330.2 million or US$44.3 million, representing a decrease of 14.4% from December 2022, and a decrease of 41.5% from January 2022.

The Company noted that its January revenue reflects continued macro weakness, inventory adjustments at customers in response to end market demand levels and a fewer number of work days in the month due to the Lunar New Year Holiday. The Company believes it is well positioned for when the situation improves given its higher exposure to non-consumer segments, its prior actions taken to improve operational efficiency and its strong balance sheet.

Consolidated Monthly Revenues (Unaudited)
	January 2023	December 2022	January 2022	MoM Change	YoY Change
Revenues    (NT$ million)	1,330.2	1,553.8	2,273.0	-14.4 %	-41.5 %
Revenues    (US$ million)	44.3	51.7	75.7	-14.4 %	-41.5 %

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.

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-january-2023-revenue-301743727.html

SOURCE ChipMOS TECHNOLOGIES INC.

FAQ

What was ChipMOS's revenue for January 2023?

ChipMOS reported revenue of NT$1,330.2 million (US$44.3 million) for January 2023.

How much did ChipMOS’s revenue decrease compared to December 2022?

Revenue decreased by 14.4% compared to December 2022.

What caused the decline in ChipMOS's revenue in January 2023?

The decline was attributed to macroeconomic challenges, customer inventory adjustments, and fewer workdays due to the Lunar New Year holiday.

What is the stock symbol for ChipMOS?

The stock symbol for ChipMOS is IMOS.

What does ChipMOS primarily provide?

ChipMOS is an industry-leading provider of outsourced semiconductor assembly and test services (OSAT).