ChipMOS TECHNOLOGIES (IMOS) Announces November Revenue and $10 Million Buyback Plan
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ChipMOS TECHNOLOGIES (Nasdaq: IMOS) today reported its unaudited consolidated revenue for the month of November 2011. The Company also announced it has commenced its previously announced share repurchase program of up to US$10 million of the Company's common shares. The Board approved share repurchase underscores the Company's continued commitment to its shareholders.
Revenue for the month of November 2011 was NT$1,524.9 million or US$50.3 million, a decrease of 6.0% from the month of October 2011 and an increase of 9.3% from the same period in 2010. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$30.31 against US$1.00 as of November 30, 2011.)
The Company noted that with revenue of NT$3,147.8 million or US$103.8 million for the first two months of the fourth quarter 2011, the quarter is developing inline with prior guidance reflecting customer order stability despite weakness in the broader global market. Strength in higher margin testing services helped offset expected declines in bumping and assembly services. The Company continues to expect fourth quarter of 2011 revenue to be flat to up or down in the single digits, as compared to third quarter of 2011 revenue of NT$4,461.5 million with gross margin on a consolidated basis in the range of 4.0% to 9.0%.
Revenue for the month of November 2011 was NT$1,524.9 million or US$50.3 million, a decrease of 6.0% from the month of October 2011 and an increase of 9.3% from the same period in 2010. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$30.31 against US$1.00 as of November 30, 2011.)
The Company noted that with revenue of NT$3,147.8 million or US$103.8 million for the first two months of the fourth quarter 2011, the quarter is developing inline with prior guidance reflecting customer order stability despite weakness in the broader global market. Strength in higher margin testing services helped offset expected declines in bumping and assembly services. The Company continues to expect fourth quarter of 2011 revenue to be flat to up or down in the single digits, as compared to third quarter of 2011 revenue of NT$4,461.5 million with gross margin on a consolidated basis in the range of 4.0% to 9.0%.
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