{"id":458243,"date":"2021-03-16T02:33:27","date_gmt":"2021-03-16T06:33:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=458243"},"modified":"2021-03-16T02:33:27","modified_gmt":"2021-03-16T06:33:27","slug":"chipmos-reports-fourth-quarter-and-full-year-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/chipmos-reports-fourth-quarter-and-full-year-2020-results\/","title":{"rendered":"ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2020 RESULTS"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <b><br \/>\n          <u>Full Year 2020 Highlights (as compared to the Full Year 2019):<\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>13.1% Increase in Revenue to <span class=\"xn-money\">US$819.5 Million<\/span> from <span class=\"xn-money\">US$724.3 Million<\/span>, with Record Quarterly Revenue Through 2020<\/b>\n        <\/li>\n<li>\n          <b>28.2% Expansion of Gross Profit to <span class=\"xn-money\">US$179.2 Million<\/span> from <span class=\"xn-money\">US$139.8 Million<\/span>, Reflecting Higher Utilization Levels and Strategic Price Increases<\/b>\n        <\/li>\n<li>\n          <b>260 Basis Point Improvement in Gross Margin to 21.9% from 19.3%<\/b>\n        <\/li>\n<li>\n          <b>Net Earnings of <span class=\"xn-money\">NT$3.26<\/span> or <span class=\"xn-money\">US$0.12<\/span> per Basic Common Share or <span class=\"xn-money\">US$2.32<\/span> per Basic ADS Compared to Net Earnings of <span class=\"xn-money\">NT$3.55<\/span> or <span class=\"xn-money\">US$0.13<\/span> per Basic Common Share or <span class=\"xn-money\">US$2.53<\/span> per Basic ADS<\/b>\n        <\/li>\n<li>\n          <b><br \/>\n            <span class=\"xn-money\">US$55.5 Million<\/span> of Full Year Free Cash Flow, with a <span class=\"xn-money\">US$146.5 Million<\/span> Balance of Cash and Cash Equivalents at Year End <\/b>\n        <\/li>\n<li>\n          <b><br \/>\n            <span class=\"xn-money\">NT$2.2<\/span> Per Share Distribution Authorized by Board Pending Shareholder Approval at <span class=\"xn-chron\">May 2021<\/span> AGM, as Company Continues to Build Value and Deliver a Higher Yield to Shareholders<\/b>\n        <\/li>\n<\/ul>\n<p>HSINCHU, <span class=\"xn-chron\">March 15, 2021<\/span><span id=\"spanHghlt299c\">\/PRNewswire-FirstCall\/ &#8212;<\/span> ChipMOS TECHNOLOGIES INC. (&#8220;ChipMOS&#8221; or the &#8220;Company&#8221;)\u00a0(Taiwan Stock Exchange:\u00a0<a target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/8150.TW?p=8150.TW\" rel=\"nofollow noopener noreferrer\">8150<\/a> and NASDAQ: IMOS),\u00a0an industry leading provider of outsourced semiconductor assembly and test services (&#8220;OSAT&#8221;),\u00a0today reported consolidated financial results for the fourth\u00a0quarter and full year ended <span class=\"xn-chron\">December 31<\/span>, 2020.\u00a0All U.S. dollar figures cited in this press release are based on the exchange rate of <span class=\"xn-money\">NT$28<\/span>.08\u00a0against <span class=\"xn-money\">US$1.00<\/span> as of <span class=\"xn-chron\">December 31, 2020<\/span>.<\/p>\n<p>All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (&#8220;Taiwan-IFRS&#8221;). <\/p>\n<p>Revenue for the fourth quarter of 2020\u00a0was <span class=\"xn-money\">NT$6,310.3<\/span> million\u00a0or <span class=\"xn-money\">US$224<\/span>.7\u00a0million, an increase\u00a0of 11.0%\u00a0from <span class=\"xn-money\">NT$5,686.1 million<\/span> or <span class=\"xn-money\">US$202.5<\/span> million\u00a0in the third quarter of 2020 and an increase\u00a0of 13.3%\u00a0from <span class=\"xn-money\">NT$5,571<\/span>.5\u00a0million or <span class=\"xn-money\">US$198.4 million<\/span> for the same period in 2019. \u00a0Revenue for the fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2020\u00a0was <span class=\"xn-money\">NT$23,011<\/span>.4\u00a0million\u00a0or <span class=\"xn-money\">US$819<\/span>.5\u00a0million, an increase of 13.1%\u00a0from <span class=\"xn-money\">NT$20,337.9 million<\/span> or <span class=\"xn-money\">US$724.3 million<\/span> for the fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2019.\u00a0 <\/p>\n<p>Net non-operating expenses in fourth quarter of 2020 was <span class=\"xn-money\">NT$277.6 million<\/span> or <span class=\"xn-money\">US$9.9 million<\/span>, compared\u00a0to <span class=\"xn-money\">NT$178.5 million<\/span> or <span class=\"xn-money\">US$6.4 million<\/span> in the third quarter of 2020. The increase compared to the third quarter of 2020 is mainly due to an increase of the share of loss of associates accounted for using equity method and foreign exchange loss, combined with a higher foreign exchange loss against the U.S. dollar. \u00a0Net non-operating expenses in fourth quarter of 2019 was <span class=\"xn-money\">NT$224.7 million<\/span> or <span class=\"xn-money\">US$8.0 million<\/span>. Net non-operating expenses of the Company for the fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2020\u00a0was <span class=\"xn-money\">NT$593.1 million<\/span> or <span class=\"xn-money\">US$21.1 million<\/span>, compared to net non-operating income of <span class=\"xn-money\">NT$573.2 million<\/span> or <span class=\"xn-money\">US$20.4 million<\/span> for the fiscal year ended <span class=\"xn-chron\">December 31, 2019<\/span>. The decline in 2020 compared to 2019 is mainly due to a decrease of the gain on disposal of investment accounted for using equity method and a higher foreign exchange loss.\u00a0\u00a0<\/p>\n<p>Net profit attributable to equity holders of the Company for the fourth quarter of 2020 was <span class=\"xn-money\">NT$686.4 million<\/span> or <span class=\"xn-money\">US$24.4 million<\/span>, and <span class=\"xn-money\">NT$0.94<\/span> or <span class=\"xn-money\">US$0.03<\/span> per basic common share, as compared to <span class=\"xn-money\">NT$423.4 million<\/span> or <span class=\"xn-money\">US$15.1 million<\/span>, and <span class=\"xn-money\">NT$0.58<\/span> or <span class=\"xn-money\">US$0.02<\/span> per basic common share in the third quarter of 2020.\u00a0 This compares to <span class=\"xn-money\">NT$530.0 million<\/span> or <span class=\"xn-money\">US$18.9 million<\/span>, and <span class=\"xn-money\">NT$0.73<\/span> or <span class=\"xn-money\">US$0<\/span>.03\u00a0per basic common share in the fourth quarter of 2019.\u00a0\u00a0Net earnings for the fourth quarter of 2020 were <span class=\"xn-money\">US$0.67<\/span> per basic ADS, compared to <span class=\"xn-money\">US$0.41<\/span> per basic ADS for the third quarter of 2020 and <span class=\"xn-money\">US$0.52<\/span> per basic ADS in the fourth quarter of 2019.\u00a0 Net profit attributable to equity holders of the Company for the fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2020\u00a0was <span class=\"xn-money\">NT$2,367.5 million<\/span> or <span class=\"xn-money\">US$84.3 million<\/span>, and <span class=\"xn-money\">NT$3.26<\/span> or <span class=\"xn-money\">US$0.12<\/span> per basic common share, compared to net profit attributable to equity holders of the Company for the fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2019\u00a0was <span class=\"xn-money\">NT$2,584.2 million<\/span> or <span class=\"xn-money\">US$92.0 million<\/span>, and <span class=\"xn-money\">NT$3.55<\/span> or <span class=\"xn-money\">US$0.13<\/span> per basic common share. Net earnings for the fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2020\u00a0were <span class=\"xn-money\">US$2.32<\/span> per basic ADS, compared to <span class=\"xn-money\">US$2.53<\/span> per basic ADS for the fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2019.\u00a0 The decline primarily reflects a one-time gain of <span class=\"xn-money\">NT$982 million<\/span> recognized in 2019 on the disposal of investment accounted for using equity method, the increase of foreign exchange loss of <span class=\"xn-money\">NT$200 million<\/span>, income tax expense of <span class=\"xn-money\">NT$159.7 million<\/span>, was which was partially offset by the increase of gross profit of <span class=\"xn-money\">NT$1,106.1 million<\/span>.<\/p>\n<p>Free cash flow for the fiscal year ended <span class=\"xn-chron\">December 31, 2020<\/span> was <span class=\"xn-money\">NT$1,558.9 million<\/span> or <span class=\"xn-money\">US$55.5 million<\/span>, with a balance of cash and cash equivalents was <span class=\"xn-money\">NT$4,113.7<\/span> million\u00a0or <span class=\"xn-money\">US$146.5 million<\/span>.<\/p>\n<p>\n        <b>Fourth<\/b><br \/>\n        <b>\u00a0Quarter <\/b><br \/>\n        <b>and Full Year <\/b><br \/>\n        <b>2020 Investor Conference Call \/ Webcast Details<\/b>\n      <\/p>\n<p id=\"indentid\" class=\"prnml40\">Date: <span class=\"xn-chron\">Tuesday, March 16, 2021<\/span><br \/>Time: 3:00PM <span class=\"xn-location\">Taiwan<\/span> (<span class=\"xn-chron\">3:00AM<\/span><span class=\"xn-location\">New York<\/span>)<br \/>Dial-In: +886-2-21928016<br \/>Password: 723607 #<br \/>Webcast of Live Call and Replay: <a target=\"_blank\" href=\"https:\/\/www.chipmos.com\/chinese\/ir\/info2.aspx\" rel=\"nofollow noopener noreferrer\">https:\/\/www.chipmos.com\/chinese\/ir\/info2.aspx<\/a><br \/>Replay Starting 2 Hours After Live Call Ends<br \/><b>Language: Mandarin<\/b><\/p>\n<p>\n        <b>Note: <\/b>An English translation audio and transcript will be made available on the Company&#8217;s website following the Mandarin conference call to help ensure transparency, and to facilitate a better understanding of its financial results and operating environment.<\/p>\n<p>\n        <b>About ChipMOS TECHNOLOGIES INC.:<\/b>\n      <\/p>\n<p>ChipMOS TECHNOLOGIES INC. (&#8220;ChipMOS&#8221; or the &#8220;Company&#8221;) (Taiwan Stock Exchange: <a target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/8150.TW?p=8150.TW\" rel=\"nofollow noopener noreferrer\">8150<\/a> and NASDAQ: IMOS) (<a target=\"_blank\" href=\"https:\/\/www.chipmos.com\/\" rel=\"nofollow noopener noreferrer\">https:\/\/www.chipmos.com<\/a>) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in <span class=\"xn-location\">Taiwan<\/span>, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.<\/p>\n<p>\n        <b>Forward-Looking Statements <\/b>\n      <\/p>\n<p>This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as &#8216;believes,&#8217; &#8216;expects,&#8217; &#8216;anticipates,&#8217; &#8216;projects,&#8217; &#8216;intends,&#8217; &#8216;should,&#8217; &#8216;seeks,&#8217; &#8216;estimates,&#8217; &#8216;future&#8217; or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements\u00a0may\u00a0include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors, including the potential impact of COVID-19. Further information regarding these risks, uncertainties and other factors are included in the Company&#8217;s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) and in the Company&#8217;s other filings with the SEC.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Contact<\/b><br \/>\n                  <b>s<\/b><br \/>\n                  <b>:<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u>In Taiwan <\/u><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Jesse Huang<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">ChipMOS TECHNOLOGIES INC.<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">+886-6-5052388 ext. 7715<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:jesse_huang@chipmos.com\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">IR@chipmos.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u>In the U.S.<\/u><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">David Pasquale<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Global IR Partners<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">+1-914-337-8801<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:dpasquale@globalirpartners.com\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">dpasquale@globalirpartners.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=HK10847&amp;sd=2021-03-16\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/chipmos-reports-fourth-quarter-and-full-year-2020-results-301247878.html\">http:\/\/www.prnewswire.com\/news-releases\/chipmos-reports-fourth-quarter-and-full-year-2020-results-301247878.html<\/a><\/p>\n<p>SOURCE  ChipMOS TECHNOLOGIES INC.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=HK10847&amp;Transmission_Id=202103160230PR_NEWS_USPR_____HK10847&amp;DateId=20210316\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Full Year 2020 Highlights (as compared to the Full Year 2019): 13.1% Increase in Revenue to US$819.5 Million from US$724.3 Million, with Record Quarterly Revenue Through 2020 28.2% Expansion of Gross Profit to US$179.2 Million from US$139.8 Million, Reflecting Higher Utilization Levels and Strategic Price Increases 260 Basis Point Improvement in Gross Margin to 21.9% from 19.3% Net Earnings of NT$3.26 or US$0.12 per Basic Common Share or US$2.32 per Basic ADS Compared to Net Earnings of NT$3.55 or US$0.13 per Basic Common Share or US$2.53 per Basic ADS US$55.5 Million of Full Year Free Cash Flow, with a US$146.5 Million Balance of Cash and Cash Equivalents at Year End NT$2.2 Per Share Distribution Authorized by Board Pending &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/chipmos-reports-fourth-quarter-and-full-year-2020-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2020 RESULTS&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-458243","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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