ChipMOS REPORTS JULY 2020 REVENUE; ACHIEVES SIX-YEAR HIGH

Rhea-AI Summary

ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS) reported a six-year high in consolidated revenue for July 2020, totaling NT$1,886.6 million (US$64.3 million). This reflects an 8.6% increase year-over-year and a 5.7% month-over-month rise. Growth is driven by demand in memory products, particularly Commodity DRAM and NOR flash, fueled by cloud storage and gaming market needs. The results showcase ChipMOS's strong position in the outsourced semiconductor assembly and test services market.

Positive

• Achieved July 2020 revenue of NT$1,886.6 million (US$64.3 million), a six-year high.
• 8.6% year-over-year revenue growth.
• 5.7% month-over-month revenue increase.
• Growth driven by high demand in memory products, especially from the gaming sector.

Negative

• None.

HSINCHU, Aug. 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 July 2020, which achieved a six-year high for July revenue.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.34 to US$1.00 as of July 31, 2020.

Revenue for the month of July 2020 was NT$1,886.6 million or US$64.3 million, an increase of 8.6% as compared to July 2019 and an increase of 5.7% compared to June 2020.  The Company noted it continues to benefit from growth in its memory business, led by Commodity DRAM and NOR flash demand in support of cloud-based storage services and applications and higher demand from the gaming market.  Within 8" COF of DDIC benefited from increase related to work from home demand for notebooks and monitors.

Consolidated Monthly Revenues (Unaudited)
	July 2020	June 2020	July 2019	MoM Change	YoY Change
Revenues (NT$ million)	1,886.6	1,784.5	1,737.3	5.7%	8.6%
Revenues (US$ million)	64.3	60.8	59.2	5.7%	8.6%

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 July 2020?

ChipMOS reported revenue of NT$1,886.6 million (US$64.3 million) for July 2020.

How does July 2020 revenue compare to previous months?

July 2020 revenue increased by 5.7% compared to June 2020 and by 8.6% compared to July 2019.

What factors contributed to ChipMOS's revenue growth in July 2020?

The growth was driven by increased demand for Commodity DRAM, NOR flash, and memory products linked to cloud services and the gaming market.

Is the revenue reported by ChipMOS for July 2020 audited?

The revenue reported for July 2020 is unaudited.