ChipMOS ticks higher after posting June sales


ChipMOS (IMOS +1.5%) had June revenue of $60.3M, -1.6% M/M and +4.7% Y/Y. For the whole of Q2, revenue was $181.2M, +8.5% Q/Q and +9.6% Y/Y.

The company previously guided for Q2 revenue to rise 8%-12% Q/Q thanks to strong LCD driver and memory market demand. ChipMOS notes both small- and large-panel LCD driver sales were soft during 2H June.

Nonetheless, gross margin is now expected to be at the high end of a prior guidance range of 21%-24%. Q1 GM was 19.8%.

Comments (3)
  • Philip Marlowe
    , contributor
    Comments (1513) | Send Message
     
    Pretty good news. Yes we are a little bit below the previous +10% YoY revenue clip but June of last year was pretty strong. The slight weakness in LCD driver ICs will probably go away soon. There already is a shortage of large size TV sets as US demand is recovering. Cell phone sales will ramp up in the second half of the year as the cheap 4G models start coming out.
    9 Jul 2014, 01:35 PM Reply Like
  • abdullah999
    , contributor
    Comments (894) | Send Message
     
    Agree - a little disappointing but I think the longer term story remains intact. Still lots of moving parts given the corporate structure, but business momentum is strong.
    11 Jul 2014, 09:29 PM Reply Like
  • Jaret Wilson
    , contributor
    Comments (1192) | Send Message
     
    Not surprised by LCD drivers being temporarily slower. There were yellow flags from Himax/Samsung.

     

    I expect third quarter to show nice growth. Maybe more important for the stock price in the near term, we'll probably see an announcement of some kind of deal of cash + ADRs in the next couple months.
    12 Jul 2014, 01:43 AM Reply Like
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