ChipMOS REPORTS 15.4% YoY GROWTH IN AUGUST 2024 REVENUE, UP 2.5% MoM

Rhea-AI Summary

ChipMOS Technologies Inc. (IMOS) reported strong financial results for August 2024, with revenue reaching NT$2,115.8 million (US$66.2 million). This represents a 15.4% year-over-year increase and a 2.5% month-over-month growth. The company attributes its success to improved utilization rates and continued healthy demand for display driver ICs (DDIC). ChipMOS also noted generally lean and healthy broader inventory levels, contributing to its positive performance. As an industry-leading provider of outsourced semiconductor assembly and test services (OSAT), ChipMOS's strong financial results reflect a positive trend in the semiconductor industry.

Positive

• Revenue increased by 15.4% year-over-year to NT$2,115.8 million (US$66.2 million)
• 2.5% month-over-month revenue growth
• Improved utilization rates
• Continued healthy demand for display driver ICs (DDIC)
• Lean and healthy broader inventory levels

Negative

• None.

HSINCHU, Sept. 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 August 2024. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$31.95 to US$1.00 as of August 30, 2024.

Revenue for the month of August 2024 was NT$2,115.8 million or US$66.2 million, representing an increase of 2.5% from July 2024, and an increase of 15.4% from August 2023. The Company noted it is benefiting from a slight improvement in its utilization rate, with overall growth led by the continued healthy DDIC demand, and generally lean and healthy broader inventory levels.

Consolidated Monthly Revenues (Unaudited)
	August 2024	July 2024	August 2023	MoM Change	YoY Change
Revenues    (NT$ million)	2,115.8	2,063.4	1,833.0	2.5 %	15.4 %
Revenues    (US$ million)	66.2	64.6	57.4	2.5 %	15.4 %

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-15-4-yoy-growth-in-august-2024-revenue-up-2-5-mom-302242844.html

SOURCE ChipMOS TECHNOLOGIES INC.

FAQ

What was ChipMOS Technologies' (IMOS) revenue for August 2024?

ChipMOS Technologies (IMOS) reported revenue of NT$2,115.8 million or US$66.2 million for August 2024.

How much did ChipMOS Technologies' (IMOS) revenue grow year-over-year in August 2024?

ChipMOS Technologies (IMOS) reported a 15.4% year-over-year increase in revenue for August 2024 compared to August 2023.

What factors contributed to ChipMOS Technologies' (IMOS) revenue growth in August 2024?

ChipMOS Technologies (IMOS) attributed its revenue growth to improved utilization rates, continued healthy demand for display driver ICs (DDIC), and generally lean and healthy broader inventory levels.

How did ChipMOS Technologies' (IMOS) August 2024 revenue compare to July 2024?

ChipMOS Technologies' (IMOS) August 2024 revenue increased by 2.5% compared to July 2024.