ChipMOS REPORTS NOVEMBER 2022 REVENUE
ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS) reported a November 2022 revenue of NT$1,558.3 million (US$50.4 million), down 1.0% from October 2022 and 30.3% year-over-year. The declines reflect broader macroeconomic conditions, including inventory adjustments by customers due to fluctuating end-market demand. In response, ChipMOS has implemented strategies to offset impacts through reduced capital expenditures, efficiency initiatives, and operating expense cuts.
- Implemented strategies for cost reduction and operational efficiency.
- November 2022 revenue declined 30.3% year-over-year.
- Sequential revenue fell 1.0% from October 2022.
HSINCHU, Dec. 9, 2022 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of November 2022. All U.S. dollar figures cited in this press release are based on the exchange rate of NT
Revenue for the month of November 2022 was NT
The Company noted that the sequential and year over year revenue declines reflect the ongoing broader macro environment, with inventory adjustments at customers in response to end market demand levels. The Company has taken actions to mitigate the impact through reduced CapEx spending, utilization sustainability initiatives, increased factory automation and operating expense reductions.
Consolidated Monthly Revenues (Unaudited) | |||||
November 2022 | October 2022 | November 2021 | MoM Change | YoY Change | |
Revenues (NT$ million) | 1,558.3 | 1,574.0 | 2,236.5 | -1.0 % | -30.3 % |
Revenues (US$ million) | 50.4 | 51.0 | 72.4 | -1.0 % | -30.3 % |
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.
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