ChipMOS ticks higher after posting June sales

|About: ChipMOS TECHNOLOGIES (Bermu... (IMOS)|By:, SA News Editor

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%.