ChipMOS TECHNOLOGIES (Bermuda) LTD. (IMOS) Tops Q3 EPS by 9c

ChipMOS TECHNOLOGIES (Bermuda) LTD. (NASDAQ: IMOS) reported Q3 EPS of $0.64, $0.09 better than the analyst estimate of $0.55. Revenue for the quarter came in at $190.7 million versus the consensus estimate of $189.9 million.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Results for the third quarter were above plan, with revenue increasing 7.3% in the third quarter to US$190.7 million, as compared to 2Q14, and overall capacity utilization increasing to 81% in Q314, as compared to 77% in Q214. We continue to benefit from growth in our DRAM and LCD driver businesses, which grew 5.1% and 6.6%, respectively, compared to the second quarter of 2014. Revenue from our mixed-signal business was up 19%, as compared to the second quarter of 2014, while revenue derived from our flash business increased approximately 11%. Gross margin on a consolidated basis was 25.8% in the third quarter, which was at the high-end of our prior guidance range of approximately 23% to 26%. We remain positive in our near term outlook given the healthy dynamics driving demand in the end markets served by our customers, and we remain focused on building value for our shareholders. To put our current growth trajectory in perspective, before we built out our LCD driver business, 4Q seasonality would typically have resulted in revenue being down about 10% in the fourth quarter, as compared to the third quarter. For 2014, we expect 4Q to come in stronger than the seasonal norm, with revenue flat to down in the low single digits, as compared to the third quarter of 2014, and margins holding strong at approximately at 23% to 26%. We expect continued stability in 2015, as we successfully leverage our integrated assembly and test business strategy."

For earnings history and earnings-related data on ChipMOS TECHNOLOGIES (Bermuda) LTD. (IMOS) click here.

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