|
Condensed consolidated statements of cash flows |
|
Period ended Mar. 31, 2014 |
|
Period ended Mar. 31, 2013 |
|
|
|
US$ million |
|
US$ million |
|
Net cash generated from (used in) operating activities |
|
46.6 |
|
42.8 |
|
Net cash generated from (used in) investing activities |
|
(35.7) |
|
(20.5) |
|
Net cash generated from (used in) financing activities |
|
(45.9) |
|
(34.6) |
|
Net increase (decrease) in cash and cash equivalents |
|
(35.0) |
|
(12.3) |
|
Effect of exchange rate changes on cash |
|
(0.0) |
|
(0.2) |
|
Cash and cash equivalents at beginning of period |
|
439.2 |
|
291.1 |
|
Cash and cash equivalents at end of period |
|
404.2 |
|
278.6 |
Taiwan Listing Update
Our subsidiary, ChipMOS Taiwan, commences trading on TWSE on April 11, 2014 under Stock Ticker 8150, with 864.6 million shares outstanding, of which the Company owns approximately 522.1 million or 60.4% of the shares outstanding. Shares that previously traded on the Gre Tai Securities Market now trade on the TWSE and ceased trading on the Gre Tai Securities Market.
Second Quarter 2014 Outlook
Led by expected demand from the LCD driver and memory market for both mobile applications and UHD TVs, the Company expects second quarter of 2014 revenue to increase approximately 8% to 12% as compared to the first quarter of 2014. The Company expects gross margin on a consolidated basis to be in the range of approximately 21% to 24% for the second quarter of 2014. The Company expects depreciation and amortization expenses for the second quarter of 2014 to be approximately US$24 million. Operating expenses are expected to be approximately 6% to 8% of revenues in the second quarter of 2014. The Company expects CapEx spending to be approximately US$24 million in the second quarter of 2014, with CapEx spending for the full year 2014 to be less than US$80 million. The total number of the Company's outstanding common shares at the end of the second quarter of 2014 is expected to be approximately 30 million.
Investor Conference Call / Webcast Details
ChipMOS will review detailed first quarter 2014 results on Wednesday, May 14, 2014 at 8:00 a.m. Eastern Time (8:00 p.m. Taiwan time, Wednesday, May 14, 2014). The conference call-in number is +1-201-689-8562. A live webcast of the conference call will be available at ChipMOS' website at http://www.chipmos.com. The playback is scheduled to be available in 2 hours after the conclusion of the conference call and will be accessible by dialing +1-858-384-5517, with confirmation ID number 13580784.
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) ( http://www.chipmos.com) is an industry leading provider of semiconductor assembly and testing services. 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. The Company's majority-owned subsidiary, ChipMOS Taiwan, is listed on TWSE under Stock Ticker 8150.
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 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 Dr. S.K. Chen ChipMOS TECHNOLOGIES (Bermuda) LTD. +886-6-507-7712 |
In the U.S. David Pasquale Global IR Partners +1-914-337-8801 |
- FINANCIAL TABLES FOLLOW BELOW -
|
ChipMOS TECHNOLOGIES (Bermuda) LTD. | |||||
|
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||||
|
For the Three Months Ended Mar. 31, 2014, Dec. 31, and Mar. 31, 2013 | |||||
|
Figures in Million of U.S. dollars (USD) (1) | |||||
|
Except for Per Share Amounts and Shares Outstanding | |||||
|
| |||||
|
|
3 months ended | ||||
|
|
Mar. 31, 2014 |
|
Dec. 31, 2013 |
|
Mar. 31, 2013 |
|
|
USD |
|
USD |
|
USD |
|
Revenue |
163.8 |
|
160.6 |
|
145.2 |
|
Cost of revenue |
(131.4) |
|
(130.1) |
|
(125.0) |
|
Gross profit |
32.4 |
|
30.5 |
|
20.2 |
|
|
|
|
|
|
|
|
Other operating income |
0.6 |
|
0.4 |
|
3.8 |
|
Research and development expenses |
(5.6) |
|
(5.3) |
|
(4.1) |
|
Sales and marketing expenses |
(0.9) |
|
(0.8) |
|
(0.7) |
|
Administrative and general expenses |
(5.8) |
|
(6.3) |
|
(4.6) |
|
Other operating expenses |
(0.5) |
|
(1.1) |
|
(0.1) |
|
|
|
|
|
|
|
|
Operating profit |
20.2 |
|
17.4 |
|
14.5 |
|
|
|
|
|
|
|
|
Non-operating income (expense), net |
3.9 |
|
2.0 |
|
4.0 |
|
|
|
|
|
|
|
|
Profit (loss) before tax |
24.1 |
|
19.4 |
|
18.5 |
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
(8.5) |
|
(12.3) |
|
(3.4) |
|
|
|
|
|
|
|
|
Profit (loss) for the year |
15.6 |
|
7.1 |
|
15.1 |
|
|
|
|
|
|
|
|
Attributable to: |
|
|
|
|
|
|
Equity holders of the Company |
10.9 |
|
5.6 |
|
11.9 |
|
Non-controlling interests |
4.7 |
|
1.5 |
|
3.2 |
|
|
15.6 |
|
7.1 |
|
15.1 |
|
|
|
|
|
|
|
|
Profit (loss) for the year |
15.6 |
|
7.1 |
|
15.1 |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
Exchange differences on translation of foreign operations |
0.1 |
|
0.3 |
|
0.5 |
|
Net actuarial losses |
- |
|
(1.0) |
|
- |
|
Income tax effect |
- |
|
0.2 |
|
- |
|
Total other comprehensive income (loss) |
0.1 |
|
(0.5) |
|
0.5 |
|
|
|
|
|
|
|
|
Total comprehensive income (loss) |
15.7 |
|
6.6 |
|
15.6 |
|
|
|
|
|
|
|
|
Attributable to: |
|
|
|
|
|
|
Equity holders of the Company |
10.9 |
|
4.7 |
|
12.3 |
|
Non-controlling interests |
4.8 |
|
1.9 |
|
3.3 |
|
|
15.7 |
|
6.6 |
|
15.6 |
|
|
|
|
|
|
|
|
Earnings (loss) per share attributable to the Company – basic |
0.37 |
|
0.19 |
|
0.41 |
|
Shares outstanding (in thousands) – basic |
29,727 |
|
29,621 |
|
28,893 |
|
Net income (loss) attributable to the Company –diluted |
10.9 |
|
5.6 |
|
11.9 |
|
Earnings (loss) per share attributable to the Company – diluted |
0.36 |
|
0.18 |
|
0.40 |
|
Shares outstanding (in thousands) – diluted |
30,467 |
|
30,357 |
|
29,542 |
|
|
|
|
|
|
|
|
Note: (1) All U.S. dollar figures in this release are based on the exchange rate of NT$30.45 against US$1.00 as of
| |||||
