HSINCHU, Sept. 14 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today reported its unaudited consolidated revenue for the month of August 2010. The Company also announced it is reducing its commodity DRAM exposure and refining its niche/mobile DRAM strategic focus.
Revenue for the month of August 2010 was NT$1,621.0 million or US$50.6 million, an increase of 2.0% from the month of July 2010 and an increase of 45.7% from the same period in 2009. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$32.01 against US$1.00 as of August 31, 2010.)
| Consolidated Monthly Revenues (Unaudited) | |||||
|
|
August 2010 | July 2010 | August 2009 | MoM Change | YoY Change |
| Revenues (NT$ million) |
1,621.0 | 1,589.2 | 1,112.2 | 2.0% | 45.7% |
| Revenues (US$ million) |
50.6 | 49.6 | 34.7 | 2.0% | 45.7% |
ChipMOS' August 2010 consolidated revenues included revenues of ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), ChipMOS U.S.A., Inc., MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), and ThaiLin Semiconductor Corp. ("ThaiLin").
Company Reduces Commodity DRAM Exposure And Refines Niche/Mobile DRAM Strategic Focus:
The Company also announced recent efforts to reduce its commodity DRAM exposure and refinement of its niche/mobile DRAM strategic focus, under which the Company reorganized its DRAM final test production line. The excess testers for final testing of commodity DRAM have been disposed of to the market. In Q2, ThaiLin sold five DRAM testers and a parcel of unused land, which generated net proceeds for ThaiLin of approximately US$10.8 million. ChipMOS recognized approximately US$2.1 million gain on asset disposal as other operating income and US$10.8 million in cash on the Company's Q2 financial results.
In August, ChipMOS Taiwan sold eight DRAM testers, ten burn-in ovens, and toolings acquired from the SPIL deal announced on February 26, 2010. The transactions are expected to generate net proceeds for ChipMOS Taiwan of approximately US$14.5 million, which will be received base on the equipment acceptance schedule of customers. ChipMOS does not expect to recognize any profit from ChipMOS Taiwan's sale of the equipment in Q3 due to the identical total equipment purchase prices and net sale values. The sale will not decrease the total CapEx amount of around US$51 million in the transaction with SPIL due to the accounting treatment. The sale will, however, be additive to ChipMOS's net cash position.
In line with the Company's strategic objectives, ChipMOS Taiwan also plans to return seven high-speed DRAM testers at the end of leases, with leases that have expired or will expire during 2010 under the existing operating lease program. This will save approximately US$550,000 in monthly leasing fees.
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS (http://www.chipmos.com ) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
Forward-Looking Statements
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is 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
Dr. S.K. Chen
ChipMOS TECHNOLOGIES (Bermuda) LTD.
Tel: +886-6-507-7712
Email: s.k._chen@chipmos.com
In the U.S.
David Pasquale
Global IR Partners
Tel: +1-914-337-8801
Email: dpasquale@globalirpartners.com
