ChipMOS Tech Q3 Profit Rises; Sees Q4 Revenue To Be Sequentially Lower

(RTTNews) - ChipMOS Technologies (Bermuda) Ltd. (IMOS) reported that its third quarter of 2013 net income attributable to the company was NT$442.5 million or $15.0 million, up from NT$374.1 million or $12.7 million in the third quarter of 2012.Net income for the quarter increased to NT$14.60 or $0.49 per share, from NT$13.28 or $0.45 per share in the prior year.

Net revenue for the third quarter was NT$5.112 billion or $172.9 million, a decrease of 0.5% from NT$5.140 billion or $173.9 million for the same period in 2012.

The company expects fourth quarter of 2013 revenue to be approximately 4% to 8% lower than the third quarter of 2013, reflecting the impact of normal seasonality, along with inventory adjustments at a limited number of customers.

The company expects CapEx spending to be approximately $41 million in the fourth quarter of 2013, with CapEx spending for the full year 2013 to be approximately $122 million, as it pulls in CapEx that was previously planned for the first half of 2014 in support of growth programs. This acceleration is expected to result in full year 2014 CapEx coming in lower at approximately $70 million.