{"id":31157,"date":"2024-11-05T08:00:00","date_gmt":"2024-11-05T08:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4548403_HK48403_0"},"modified":"2024-11-05T08:00:00","modified_gmt":"2024-11-05T08:00:00","slug":"chipmos-reports-third-quarter-2024-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=31157","title":{"rendered":"ChipMOS REPORTS THIRD QUARTER 2024 RESULTS"},"content":{"rendered":"<div id=\"dvContent\" readability=\"132.44723957454\">\n<ul type=\"disc\">\n<li><b>4.4% Increase in 3Q24 Revenue Compared to 2Q24, 8.7% Growth Compared to 3Q23<\/b><\/li>\n<li><b>3.4% Expansion of 3Q24 Gross Profit Compared to 2Q24<\/b><\/li>\n<li><b>Overall Utilization Rate Remains Healthy at 67%<\/b><\/li>\n<li><b>Net Earnings of <span class=\"xn-money\">NT$0.41<\/span> per Basic Common Share or <span class=\"xn-money\">US$0.26<\/span> per Basic ADS Compared to Net Earnings of <span class=\"xn-money\">NT$0.62<\/span> per Basic Common Share or <span class=\"xn-money\">US$0.39<\/span> per Basic ADS in 2Q24<\/b><\/li>\n<li><b>Strong Financial Position and Liquidity with <span class=\"xn-money\">NT$13,776.6 Million<\/span> or <span class=\"xn-money\">US$435.3 Million<\/span> Balance of Cash and Cash Equivalents<\/b><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\">HSINCHU, <span class=\"xn-location\">Taiwan<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 5, 2024<\/span><\/span> \/PRNewswire-FirstCall\/ &#8212;&nbsp;ChipMOS TECHNOLOGIES INC. (&#8220;ChipMOS&#8221; or the &#8220;Company&#8221;) (Taiwan Stock Exchange: <a href=\"https:\/\/finance.yahoo.com\/quote\/8150.TW?p=8150.TW\" target=\"_blank\" rel=\"nofollow noopener\">8150<\/a> and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (&#8220;OSAT&#8221;), today reported consolidated financial results for the third quarter ended <span class=\"xn-chron\">September 30, 2024<\/span>. All U.S. dollar figures cited in this press release are based on the exchange rate of <span class=\"xn-money\">NT$31.65<\/span> against <span class=\"xn-money\">US$1.00<\/span> as of <span class=\"xn-chron\">September 30, 2024<\/span>.<\/p>\n<p>All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (&#8220;Taiwan-IFRS&#8221;).<\/p>\n<p>Revenue for the third quarter of 2024 was <span class=\"xn-money\">NT$6,068.0 million<\/span> or <span class=\"xn-money\">US$191.7 million<\/span>, an increase of 4.4% from <span class=\"xn-money\">NT$5,809.6 million<\/span> or <span class=\"xn-money\">US$183.6 million<\/span> in the second quarter of 2024 and an increase of 8.7% from <span class=\"xn-money\">NT$5,581.5 million<\/span> or <span class=\"xn-money\">US$176.4 million<\/span> for the same period in 2023.<\/p>\n<p>Net non-operating expenses in the third quarter of 2024 were <span class=\"xn-money\">NT$65.3 million<\/span> or <span class=\"xn-money\">US$2.1 million<\/span>, compared to net non-operating income of <span class=\"xn-money\">NT$127.6 million<\/span> or <span class=\"xn-money\">US$4.0 million<\/span> in the second quarter of 2024, and net non-operating income of <span class=\"xn-money\">NT$230.9 million<\/span> or <span class=\"xn-money\">US$7.3 million<\/span> in the third quarter of 2023. Third quarter of 2024 results were impacted by a foreign exchange loss of <span class=\"xn-money\">NT$73 million<\/span> or <span class=\"xn-money\">US$2.3 million<\/span>, compared to a foreign exchange gain of <span class=\"xn-money\">NT$25 million<\/span> or <span class=\"xn-money\">US$0.8 million<\/span> in the second quarter of 2024, and a foreign exchange gains of <span class=\"xn-money\">NT$167 million<\/span> or <span class=\"xn-money\">US$5.3 million<\/span> in the third quarter of 2023. Third quarter of 2024 results include&nbsp;a decrease of&nbsp;a gain on disposal of non-current assets held for sale of <span class=\"xn-money\">NT$72 million<\/span> or <span class=\"xn-money\">US$2.3 million<\/span>, and a gain on valuation of financial assets at fair value through profit or loss of <span class=\"xn-money\">NT$18 million<\/span> or <span class=\"xn-money\">US$0.6 million<\/span> compared to the second quarter of 2024. Third quarter of 2024 results also include the adverse impact of a loss on the share of associates accounted for using equity method of <span class=\"xn-money\">NT$5 million<\/span> or <span class=\"xn-money\">US$0.1 million<\/span>, compared to a profit on the share of associates accounted for using equity method of <span class=\"xn-money\">NT$63 million<\/span> or <span class=\"xn-money\">US$2.0 million<\/span> in the third quarter of 2023.<\/p>\n<p>Net profit attributable to equity holders of the Company for the third quarter of 2024 was <span class=\"xn-money\">NT$299.4 million<\/span> or <span class=\"xn-money\">US$9.5million<\/span>, and <span class=\"xn-money\">NT$0.41<\/span> or <span class=\"xn-money\">US$0.01<\/span> per basic common share, as compared to <span class=\"xn-money\">NT$450.6 million<\/span> or <span class=\"xn-money\">US$14.2 million<\/span>, and <span class=\"xn-money\">NT$0.62<\/span> or <span class=\"xn-money\">US$0.02<\/span> per basic common share in the second quarter of 2024. This compares to <span class=\"xn-money\">NT$580.6 million<\/span> or <span class=\"xn-money\">US$18.3 million<\/span>, and <span class=\"xn-money\">NT$0.80<\/span> or <span class=\"xn-money\">US$0.03<\/span> per basic common share in the third quarter of 2023.&nbsp; Net earnings for the third quarter of 2024 were <span class=\"xn-money\">US$0.26<\/span> per basic ADS, compared to <span class=\"xn-money\">US$0.39<\/span> per basic ADS for the second quarter of 2024 and <span class=\"xn-money\">US$0.50<\/span> per basic ADS in the third quarter of 2023.<\/p>\n<p>Net free cash outflow for the first nine months of 2024 was <span class=\"xn-money\">NT$400.6 million<\/span> or <span class=\"xn-money\">US$12.7 million<\/span>, primarily in support of capacity additions in the Company&#8217;s long-term growth segments, with a strong balance of cash and cash equivalents of <span class=\"xn-money\">NT$13,776.6 million<\/span> or <span class=\"xn-money\">US$435.3 million<\/span>.<\/p>\n<p><b>Third Quarter 2024 Investor Conference Call \/ Webcast Details<\/b><\/p>\n<p><b>Date:<\/b>&nbsp;Tuesday, November 5, 2024<\/p>\n<p><b>Time:<\/b>&nbsp;4:00PM <span class=\"xn-location\">Taiwan<\/span> (<span class=\"xn-chron\">3:00AM<\/span> <span class=\"xn-location\">New York<\/span>)<\/p>\n<p><b>Dial-In:<\/b>&nbsp;+886-2-33961191<\/p>\n<p><b>Password:<\/b>&nbsp;1625505&nbsp; #<\/p>\n<p><b>Webcast and Replay:<\/b> <a href=\"https:\/\/www.chipmos.com\/chinese\/ir\/info2.aspx\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.chipmos.com\/chinese\/ir\/info2.aspx<\/a>&nbsp;<\/p>\n<p><b>Replay:<\/b>&nbsp;Starts approximately 2 hours after the live call ends<\/p>\n<p><b>Language: Mandarin<\/b><\/p>\n<p><b>Note: <\/b>A transcript will be provided on the Company&#8217;s website in English following the conference call to help ensure transparency, and to facilitate a better understanding of the Company&#8217;s financial results and operating environment.<\/p>\n<p><b>About ChipMOS TECHNOLOGIES INC.:<\/b><\/p>\n<p>ChipMOS TECHNOLOGIES INC. (&#8220;ChipMOS&#8221; or the &#8220;Company&#8221;) (Taiwan Stock Exchange: <a href=\"https:\/\/finance.yahoo.com\/quote\/8150.TW?p=8150.TW\" target=\"_blank\" rel=\"nofollow noopener\">8150<\/a> and Nasdaq: IMOS) (<a href=\"http:\/\/www.chipmos.com\" rel=\"nofollow\">www.chipmos.com<\/a>) 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 <span class=\"xn-location\">Taiwan<\/span>, 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.<\/p>\n<p><b>Forward-Looking Statements <\/b><\/p>\n<p>This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as &#8216;believes,&#8217; &#8216;expects,&#8217; &#8216;anticipates,&#8217; &#8216;projects,&#8217; &#8216;intends,&#8217; &#8216;should,&#8217; &#8216;seeks,&#8217; &#8216;estimates,&#8217; &#8216;future&#8217; 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&#8217;s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) and in the Company&#8217;s other filings with the SEC.<\/p>\n<\/p><\/div>\n<p>Source: ChipMOS TECHNOLOGIES INC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>4.4% Increase in 3Q24 Revenue Compared to 2Q24, 8.7% Growth Compared to 3Q23 3.4% Expansion of 3Q24 Gross Profit Compared to 2Q24 Overall Utilization Rate Remains Healthy at 67% Net Earnings of NT$0.41 per Basic Common Share or US$0.26 per Basic ADS Compared to Net Earnings of NT$0.62 per Basic Common Share or US$0.39 per [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-31157","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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