ChipMOS Q2 Revenue Down 6.7% YoY; Expects Revenue Stabilization In H2

(RTTNews) - ChipMOS TECHNOLOGIES (Bermuda) LTD. (IMOS) reported that revenue for the second quarter of 2016 was NT$4.73 billion or $146.7 million, representing a decrease of 6.7% from the same period in 2015. Revenue for the month of June 2016 was NT$1.62 billion or $50.2 million, a decrease of 4.2% from the same period in 2015.

The company noted it expects revenue to be approximately $150 million in third, and fourth quarters of 2016, reflecting the more cautious, near-term post-Brexit market environment facing its customers, and ongoing macro softness in the small panel market, notably for LCD drivers targeted for use in mobile phones and consumer devices. The company expects this period of revenue stabilization to be followed by a return to revenue growth into 2017, as it ramps production in its Shanghai facility.