ChipMOS REPORTS OCTOBER 2024 REVENUE

Rhea-AI Summary

ChipMOS Technologies reported unaudited consolidated revenue of NT$1,784.9 million (US$55.8 million) for October 2024, showing a decrease of 5.5% from September 2024 and a decline of 9.4% from October 2023. The company's performance aligns with previous guidance, indicating DRAM improvements from better end markets, while NAND flash and DDIC segments faced challenges due to weaker market demand, conservative ordering patterns, and ongoing customer inventory adjustments.

Positive

• DRAM segment shows improvement due to better end market conditions

Negative

• Monthly revenue decreased 5.5% MoM to NT$1,784.9 million
• Year-over-year revenue declined 9.4%
• NAND flash and DDIC segments experiencing weak market demand
• Customers implementing conservative ordering and inventory adjustments

News Market Reaction

-4.12%

1 alert

-4.12% News Effect

On the day this news was published, IMOS declined 4.12%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HSINCHU, Nov. 8, 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 October 2024. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$32.01 to US$1.00 as of October 31, 2024.

Revenue for the month of October 2024 was NT$1,784.9 million or US$55.8 million, representing a decrease of 5.5% from September 2024, and a decrease of 9.4% from October 2023. The Company's revenue is inline with its comments on its November 5, 2024 earnings call, which noted DRAM would benefit from improving end markets, while NAND flash and DDIC were expected to be impacted by a weaker market demand, conservative ordering and inventory adjustments at customers.

Consolidated Monthly Revenues (Unaudited)
	October 2024	September 2024	October 2023	MoM Change	YoY Change
Revenues    (NT$ million)	1,784.9	1,888.9	1,970.0	-5.5 %	-9.4 %
Revenues    (US$ million)	55.8	59.0	61.5	-5.5 %	-9.4 %

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-october-2024-revenue-302299535.html

SOURCE ChipMOS TECHNOLOGIES INC.

FAQ

What was ChipMOS (IMOS) revenue for October 2024?

ChipMOS reported revenue of NT$1,784.9 million (US$55.8 million) for October 2024.

How did ChipMOS (IMOS) October 2024 revenue compare to previous periods?

October 2024 revenue decreased 5.5% from September 2024 and declined 9.4% compared to October 2023.

Which segments of ChipMOS (IMOS) business were affected by weak demand in October 2024?

NAND flash and DDIC segments were affected by weak market demand, conservative ordering, and inventory adjustments at customers.

Which segment of ChipMOS (IMOS) showed improvement in October 2024?

The DRAM segment showed improvement due to better end market conditions.