Chipmos Technologies Inc. (NASDAQ:IMOS)

FOURTH QUARTER 2019 FINANCIAL RESULTS

• Revenue for the fourth quarter of 2019 was NT$5,571.5 million or US$186.3 million, an increase of 3.2% from NT$5,399.1 million or US$180.5 million in the third quarter of 2019 and an increase of 12.1% from NT$4,972.3 million or US$166.2 million for the same period in 2018.  
  
• Net profit attributable to equity holders of the Company for the fourth quarter of 2019 was NT$530.0 million or US$17.7 million, and NT$0.73 or US$0.02 per basic common share, as compared to net profit attributable to equity holders of the Company for the third quarter of 2019 of NT$585.9 million or US$19.6 million, and NT$0.81 or US$0.03 per basic common share, and compared to net profit attributable to equity holders of the Company in the fourth quarter of 2018 of NT$516.6 million or US$17.3 million, and NT$0.71 or US$0.02 per basic common share. 
  
• Net earnings for the fourth quarter of 2019 were US$0.49 per basic ADS, compared to US$0.54 per basic ADS for the third quarter of 2019 and US$0.48 per basic ADS in the fourth quarter of 2018.

S.J. Cheng, Chairman and President of ChipMOS, said, "This was a strong year for us as we achieved 10.1% revenue growth for the full year 2019 over 2018 – both a record high revenue level and the highest annual revenue growth since 2015.  We also achieved meaningful improvements in profitability, reporting net earnings of NT$3.55 per basic common share or US$2.38 per basic ADS.  We continue to drive improvements in our business and financial metrics, while prudently balancing high-return investments to support growth across our base of diversified customers and end markets.  Of note, we improved our overall utilization to 76% in Q4 from 74% in Q3, as we benefitted from increased demand for TDDI products given the higher content per unit in newer phones, combined with robust demand trends in our memory business in the second half of the year.  We expect these drivers to remain in place as we move through 2020, positioning us to benefit from long-term catalysts driving higher demand from increased AI and automation, larger displays and the ongoing proliferation of smart phone advancements.  Importantly, we are executing with close oversight on operating and capital expenses, as we focus on improving revenue growth and higher profitability in the current macroeconomic environment.  We are slowing down our CapEx investments and focusing on improvements through automation, while maintaining a strong financial position and balance sheet in order to maintain our leading market position, while navigating the current fluid market situation."  

Silvia Su, Vice President of Finance and Accounting, commented, "We achieved 10.1% revenue growth for the full year 2019 compared to 2018, while decreasing CapEx over the same period.  Our focus on leveraging our high margin businesses and high return programs allowed us to expand our gross margin to 22.7% in Q4 up from 21.4% in Q3, and 19.3% for the full year 2019 up from 18.6% in 2018.  We meaningfully increased our cash generation with US$200.4 million generated in cash from operations in 2019, and ended the year with a cash and cash equivalents balance of US$157.3 million.  During 2019, we distributed our latest cash dividend to investors of NT$1.2 per common share or US$0.764 per ADS, on August 30th to common stock holders and on September 9th to ADS holders, as we remain focused on building further value for the Company and its shareholders.  In addition, our Board has approved a resolution to distribute NT$1.80 per share pending shareholder approval at our AGM on June 9, 2020. This underscores the Company's position as a high cash dividend, high yield investment vehicle for investors."

HSINCHU, Jan. 8, 2020 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of December 2019. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.91 to US$1.00 as of December 31, 2019.

Revenue for the fourth quarter of 2019 was NT$5,571.5 million or US$186.3 million, representing an increase of 3.2% from the third quarter of 2019, and an increase of 12.1% from the fourth quarter of 2018.  This represents the highest quarterly revenue level since the first quarter of 2015. The Company noted that it benefitted from continued growth throughout 2019 led by demand strength in its core business, the addition of new NAND flash business, diversification of gold bumping for DDIC to wafer bumping for non-DDIC products, stronger TDDI demand, all of which resulted in higher utilization levels.

Revenue for the month of December 2019 was NT$1,823.5 million or US$61.0 million, a decrease of 1.4% from the month of November 2019 and an increase of 18.6% from the same period in 2018.  

HSINCHU, Dec. 10, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of November 2019. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.50 to US$1.00 as of November 29, 2019.

Revenue for the month of November 2019 was NT$1,849.1 million or US$60.6 million, a decrease of 2.6% from the month of October 2019 and an increase of 14.1% from the same period in 2018. The month over month decline reflects one less operating day in November as compared to October. The Company is otherwise benefiting from stability in its core business and utilization levels.

HSINCHU, Taiwan, Nov. 15, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 andNASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), announced that Mr. S.J. Cheng, Chairman and President of ChipMOS, today filed a report with the competent authority in Taiwan regarding a planned transfer of certain shares in ChipMOS held by him to Haohsiang Investment Co., Ltd. ("Haohsiang"), a limited company incorporated under the laws of Taiwan, whose share capital is wholly owned by Mr. Cheng.

This is not a share sale to an unrelated third party or reduction in Mr. Cheng's beneficial ownership.  Upon completion of the planned transfer, Mr. Cheng's direct and indirect shareholding (through Haohsiang) in ChipMOS will remain identical to what it was prior to the planned transfer.  Under Taiwan's Securities and Exchange Act, the planned transfer needs to be reported to the competent authority, which was made today; the planned share transfer to Haohsiang can then occur three days after such report.

Mr. Cheng currently holds an aggregate of 12,150,161 Common Shares, representing 1.67% of the total issued share capital in ChipMOS (727,240,126 shares). Upon completion of this transfer, Mr. Cheng will transfer 6,000,000 Common Shares in ChipMOS held by him, representing 0.83% of the total issued share capital in ChipMOS, to the transferee, which is expected to be Haohsiang.  Haohsiung currently holds 244,777 Common Shares in ChipMOS, which has been reported to the competent authority in Taiwan regularly as the holding vehicle of Mr. Cheng.

S.J. Cheng, Chairman and President of ChipMOS, said, "Under the planned share transfer my beneficial ownership level will remain unchanged.  The transfer is solely for my personal asset planning purposes based on the advice of my financial and tax advisors.  My confidence in the long-term business prospects for ChipMOS remains very high given the company's strong fundamentals, expanded revenue and profit reported in 2019, and outlook."

THIRD QUARTER 2019 RESULTS

• Revenue for the third quarter of 2019 was NT$5,399.1 million or US$173.9 million, an increase of 10.1% from NT$4,905.3 million or US$158.0 million in the second quarter of 2019 and an increase of 7.9% from NT$5,005.2 million or US$161.2 million for the same period in 2018.
• Net earnings for the third quarter of 2019 were US$0.52 per basic ADS, compared to US$1.13 per basic ADS for the second quarter of 2019 and US$0.36 per basic ADS in the third quarter of 2018. 
  

S.J. Cheng, Chairman and President of ChipMOS, said, "Strength in our core business and continued execution is helped us drive double digit revenue growth with a significant gross margin improvement.  We achieved 10.1% revenue growth compared to Q2 and improved our gross margin to 21.4% from 17.1% over the same period.  Revenue in our Flash business grew 22.5% in Q3 from Q2, led by increased demand from the industrial and automotive end markets and higher demand from new module house customers.   We also benefitted from strong demand in our 12" gold bump and TDDI businesses with increasing TDDI product penetration of the HD panel segment for smartphones given higher content per unit in newer phones.  We did experience some softness at the end of the quarter in demand related to the TV market, which we expect to more than offset in order to achieve stable revenue and margins over the near-term.  Adding to our confidence, high-end wafer test capacity has been tightening, led by increasing OLED panel driver IC demand, and we are benefitting from higher efficiency programs including increased usage of AI and automation at our facilities."

Silvia Su, Vice President of Finance and Accounting, commented, "We are pleased with the positive operating leverage in our business as we focus on expansion of our higher margin business, continued operating expense control and controlled CapEx. We generated US$123.8 million in cash from operating activities in the third quarter compared to US$87.5 million in the year ago period.  While our CapEx level has been tracking below 2018 for most of 2019, we made the strategic decision to invest US$59.5 million in CapEx in the third quarter to expand capacity to meet current and expected higher customer demand levels, mainly for DDIC test and 12" fine pitch COF.  Our focus on profitability and operating cash flow expansion also allowed us to reward investors with our latest cash dividend, NT$1.2 per common share or US$0.764 per ADS, which was distributed on August 30th to common stock holders and on September 9th to ADS holders.  We remain focused on building further value for the company and its shareholders."

HSINCHU, Oct. 9, 2019 /PRNewswire-FirstCall/ --ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of September 2019 and for the third quarter ended September 30, 2019. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$31.05 to US$1.00 as of September 30, 2019.

Revenue for the third quarter of 2019 was NT$5,399.1 million or US$173.9 million, representing an increase of 10.1% from the second quarter of 2019, and an increase of 7.9% from the third quarter of 2018. This represents the highest quarterly revenue level since the first quarter of 2015. The Company noted that it benefited from continued growth led by the addition of new NAND flash business, diversification of gold bumping for DDIC to wafer bumping of non-DDIC products, and stronger TDDI demand.

Revenue for the month of September 2019 was NT$1,749.6 million or US$56.3 million, a decrease of 8.5% from the month of August 2019 and an increase of 3.2% from the same period in 2018. The decline from August 2019, which was the Company's highest monthly revenue level since December 2014, reflects a normal demand level for the September period combined with the impact of broader DDIC market softness related to softer TV demand.

HSINCHU, Sept. 3, 2019 /PRNewswire/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), announced today that a US$0.764 cash dividend per ADS will be distributed on September 9, 2019. ADS holders will receive approximately US$0.583 per ADS, after the Taiwan withholding tax and Citibank, N.A.'s depositary fees. The Company's latest dividend was approved by shareholders at its AGM this past June.

S.J. Cheng, Chairman and President of ChipMOS, said, "The latest distribution reflects our Board of Directors and management's confidence in ChipMOS's business, prospects for growth and the strength of our balance sheet. This is an important part of our overall strategy to increase value for shareholders, as we continue to successfully execute on our business."

HSINCHU, Taiwan, Aug. 6, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of July 2019.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$31.09 to US$1.00 as of July 31, 2019.

Revenue for the month of July 2019 was NT$1,737.3 million or US$55.9 million, an increase of 6.1% from the month of June 2019 and an increase of 10.2% from the same period in 2018. The Company noted that it is benefiting from continued growth led by the addition of new NAND flash business, diversification of gold bumping for DDIC to wafer bumping of non-DDIC products, and improved customer inventory levels.

HSINCHU, Taiwan, June 28, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 andNASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), announced it has submitted a dividend/distribution form to NASDAQ, as notification of the below actions for the Company's American Depositary Shares ("ADRs"). The Company's Board proposed on March 7, 2019 that NT$1.2 per common share or approximately US$0.77 per ADS be distributed to shareholders from earnings. This was approved by shareholders at the Company's AGM on June 10, 2019.

• Type of Distribution: Cash Dividend
• Declaration Date: June 27, 2019
• Ex-Dividend Date: August 7, 2019
• ADR Dividend Record Date: August 8, 2019
• ADR Dividend Distribution Date: To be determined by the Depositary, Citibank NA ("Citi"), once Citi receives the distribution from the Company on August 30, 2019
• ADR books will be closed from August 6, 2019 to August 13, 2019 to coincide with the Taiwan local share book close period of August 9, 2019 to August 13, 2019
• The final dividend amount to be distributed in the United States Dollars will be determined by the Depositary, Citibank NA, once it receives the distribution from the Company on August 30, 2019, converts the amount from New Taiwan Dollars into United States Dollars and deducts appropriate taxes and fees.

S.J. Cheng, Chairman and President of ChipMOS, said, "This latest distribution continues our track record of consistently building value for investors. Our successful business execution and cash flow generation has put ChipMOS in a solid position with a strong balance sheet, able to support our current and long-term priority growth drivers."

FIRST QUARTER 2019 FINANCIAL RESULTS

• Revenue at US$144.6 Million Compared to US$161.1 Million, with Q1'19 Up 11.2% as Compared to Q1'18
• Net profit attributable to equity holders of the Company for the first quarter of 2019 was NT$193.7 million or US$6.3 million, and NT$0.27 or US$0.01 per basic common share, as compared to net profit attributable to equity holders of the Company for the fourth quarter of 2018 of NT$516.6 million or US$16.8 million, and NT$0.71 or US$0.02 per basic common share, and compared to net profit attributable to equity holders of the Company in the first quarter of 2018 of NT$22.8 million or US$0.7 million, and NT$0.03or US$0.001 per basic common share.  Net earnings for the first quarter of 2019 were US$0.17 per basic ADS, compared to US$0.46 per basic ADS for the fourth quarter of 2018 and US$0.02 per basic ADS in the first quarter of 2018. 

S.J. Cheng, Chairman and President of ChipMOS, said, "We continue to take action in our business and focus on the priority growth drivers, while further improving our balance sheet and working to build value for investors.  Customer demand remains healthy in our TDDI and 12" fine pitch COF businesses with growth expected to continue led by higher demand for new bezel-less smartphone panels, 4K TVs, displays and other applications. Importantly, we believe we have moved beyond the typical low season having reported 19.2% revenue growth for the month of March 2019, as compared to the month of February 2019.  We expect to benefit from further gains in our TDDI, and 12" fine pitch COF business, along with new customer programs in our NAND flash business. Finally, we are pleased to have realized a return in April on our strategic investment in JMC.  The proceeds will be used to further strengthen our Company's financial structure, while increasing our balance of working capital and decreasing the debt ratio." 

HSINCHU, Taiwan, April 10, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 andNASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of March 2019 and for the first quarter ended March 31, 2019.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.86 to US$1.00 as of March 29, 2019.

Revenue for the month of March 2019 was NT$1,583.6 million or US$51.3 million, an increase of 19.2% from the month of February 2019 and an increase of 8.2% from the same period in 2018.

Revenue for the first quarter of 2019 was NT$4,462.0 million or US$144.6 million, representing a decrease of 10.3% from the fourth quarter of 2018, and an increase of 11.2% from the first quarter of 2018.

The Company noted that while revenue growth in March benefitted from continued strong demand of TDDI combined with an uptick in orders for Niche DRAM and Flash product, the first quarter normally represents the low period of the year for the industry, followed by revenue growth in Q2, Q3 and Q4. This is due to fewer working days around the Chinese New Year holiday and semiconductor chain inventory rebalancing at the start of the New Year.

FOURTH QUARTER 2018 FINANCIAL RESULTS

• Revenue Increases to US$603.8 Million from US$586.1 Million
• Net profit attributable to equity holders of the Company for the fourth quarter of 2018 was NT$516.6 million or US$16.9 million, and NT$0.71 or US$0.02 per basic common share, as compared to net profit attributable to equity holders of the Company for the third quarter of 2018 of NT$439.6 million or US$14.4 million, and NT$0.56 or US$0.02 per basic common share, and compared to net profit attributable to equity holders of the Company in the fourth quarter of 2017 of NT$163.0 million or US$5.3 million, and NT$0.19 or US$0.01 per basic common share. Net earnings for the fourth quarter of 2018 were US$0.46 per basic ADS, compared to US$0.37 per basic ADS for the third quarter of 2018 and US$0.13 per basic ADS in the fourth quarter of 2017.

S.J. Cheng, Chairman and President of ChipMOS, said, "2018 was marked by significant accomplishments, including the completion of our capital reduction and the expansion of our higher margin TDDI business.  We exited the year with our gross margin at 22.8% in Q4 up from 19.5% in Q3, and gross margin also up on a full year basis in 2018 compared to 2017.  We achieved this improvement on modest revenue growth, as we benefitted from stable utilization and pricing levels combined with the benefit of ongoing operating efficiency improvements.  This helped us to offset headwinds impacting the entire industry in the Niche DRAM business.  While uncertainty remains around the trade tensions and the overall macroeconomic environment, ChipMOS is in a strong position entering 2019 having completed our capital reduction, fortified our balance sheet and secured long-term financing agreements on favorable terms from our banking partners.  We are focused on achieving profitable annual revenue growth in 2019.  We are confident we will be able to achieve our goals as we benefit from healthy demand in our COF business, led by stable demand from 4K TV customers and demand created by new smartphone models featuring bezel-less panels."

Silvia Su, Vice President of Finance and Accounting, commented, "We are encouraged with our improved financial positon exiting Q4, which enables us to fully support existing customer programs, while having the capacity to support new growth opportunities, including those in our DDIC business.  Revenue for the full year 2018 increased 3.0%, with net earnings of US$0.90 per basic ADS or net earnings of US$0.04 per basic common share.  We generated US$134.9 million cash from operations in 2018, ending 2018 with a cash and cash equivalents balance of US$151.7 million.  This is after we distributed a cash dividend of US$8.4 million and capital reduction of US$42.0 million to shareholders; and invested US$161.6 million in CapEx.  We continue to take a conservative approach to our CapEx plan as we invest based on customer forecasts and demand trends.  We remain focused on leveraging ChipMOS's technical expertise, geographic footprint and financial strength to build further shareholder value."

HSINCHU, Taiwan, March 7, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 andNASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of February 2019. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.83 to US$1.00 as of February 28, 2019.

Revenue for the month of February 2019 was NT$1,328.5 million or US$43.1 million, a decrease of 14.3% from the month of January 2019 and an increase of 9.8% from the same period in 2018. The Company noted that growth from higher TDDI demand and favorable pricing was offset by softness impacting the broader industry in the memory business and a lower number of working days around the New Year Holiday. Based on historical trends, the Company expects the first quarter overall representing the low point for the year due to the above noted factors.

HSINCHU, Taiwan, Jan. 10, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 andNASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of December 2018 and for the fourth quarter ended December 31, 2018.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.61 to US$1.00 as of December 31, 2018.

Revenue for the month of December 2018 was NT$1,538.0 million or US$50.2 million, a decrease of 5.1% from the month of November 2018 and an increase of 9.0% from the same period in 2017.

Revenue for the fourth quarter of 2018 was NT$4,972.3 million or US$162.4 million, representing a decrease of 0.7% from the third quarter of 2018, and an increase of 12.8% from the fourth quarter of 2017.

The Company noted it is continuing to benefit from strong demand for TDDI with higher utilization levels of related wafer test, and mixed signal product. Revenue growth was adversely impacted by broader macro softness in the memory market.

HSINCHU, Taiwan, Dec. 10, 2018 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of November 2018.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.83 to US$1.00 as of November 30, 2018.

Revenue for the month of November 2018 was NT$1,620.8 million or US$52.6 million, a decrease of 10.6% from the month of October 2018 and an increase of 11.0% from the same period in 2017.

The Company noted that while it is continuing to benefit from strong demand of TDDI and higher utilization levels of related wafer test, revenue growth in November was adversely impacted primarily by shorter work days in the month compared to October combined with broader macro softness in Niche DRAM.

THIRD QUARTER 2018 FINANCIAL RESULTS

• Net revenue for the third quarter of 2018 was NT$5,005.2 million or US$164.3 million, an increase of 11.4% from NT$4,491.6 million or US$147.5 million in the second quarter of 2018 and an increase of 13.0% from NT$4,431.1 million or US$145.5 million for the same period in 2017.
• Net earnings for the third quarter of 2018 were US$0.37 per basic ADS, compared to US$0.10 per basic ADS for the second quarter of 2018 and US$0.13 per basic ADS in the third quarter of 2017.

S.J. Cheng, Chairman and President of ChipMOS, said, "We are pleased with third quarter results.  We achieved 11.4% revenue growth compared to Q2 and improved our gross margin to 19.5% from 16.4% over the same period.  We are benefitting from higher utilization levels, a more favorable product mix and higher prices for our services.  We expect continued revenue and profit growth led by existing customer programs, higher volume allocations and ongoing competitive share gains.  We also continue to benefit from higher customer demand in our TDDI and 12" fine pitch COF businesses.  TDDI test demand remains strong as smartphones shift to full screen panels and narrow bezel models, with test programs that run an average of 3 times longer than that of DDIC programs.  This puts our capacity at an even higher premium."

Silvia Su, Vice President of Finance and Accounting, commented, "ChipMOS is positioned for growth with higher utilization rates, healthy demand in our key markets and a strong balance sheet.  We ended the third quarter with a balance of cash and cash equivalents of US$199.2 million, a net debt balance of US$135.2 million, and a net debt to equity ratio of 23.5%.  This is after CapEx of $32.8 million in the third quarter, the majority of which was invested to meet higher customer demand levels for our DDIC related capacity, mainly for DDIC wafer test, and our mixed-signal product testing.  We finalized our Capital Reduction in October, which reduced our outstanding shares by approximately 15%, and we distributed NT$1.5 per common share to shareholders.  Separately, we distributed a cash dividend to shareholders in October of NT$0.3 per common share.  Our focus remains on improving profitability and building shareholders' value."

HSINCHU, Taiwan, Aug. 13, 2018 /PRNewswire/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), announced it has submitted a dividend/distribution form to NASDAQ, as notification of the following actions for the Company's American Depositary Shares ("ADRs"):

Type of Distribution: Cash Dividend
Declaration Date: August 9, 2018
Ex-Dividend Date: October 18, 2018
ADR Dividend Record Date: October 19, 2018
ADR Dividend Distribution Date: To be determined by the Depositary, Citibank NA ("Citi"), once Citi receives the distribution from the Company on October 31, 2018
ADR books will be closed from October 17, 2018 to October 25, 2018 to coincide with the Taiwan local share book close period of October 21, 2018 to October 25, 2018.
The final dividend amount to be distributed in the United States Dollars will be determined by the Depositary, Citibank NA, once it receives the distribution from the Company on October 31, 2018, converts the amount from New Taiwan Dollars into United States Dollars and deducts appropriate taxes and fees.

SECOND QUARTER 2018 FINANCIAL RESULTS

• Net revenue for the second quarter of 2018 was NT$4,491.6 million or US$147.6 million, an increase of 12.0% from NT$4,010.9 million or US$131.8 million in the first quarter of 2018 and a decrease of 1.1% from NT$4,541.2 million or US$149.2 million for the same period in 2017.
• Net earnings for the second quarter of 2018 were US$0.10 per diluted ADS, compared to US$0.02 per diluted ADS for the first quarter of 2018 and US$0.25 per diluted ADS in the second quarter of 2017.

S.J. Cheng, Chairman and President of ChipMOS, said, "This was a strong quarter for us as we delivered on our financial goals and efforts to increase shareholder value. We achieved 12% revenue growth in Q2 compared to Q1 and improved our gross margin to 16.4% from 14.6% in the prior quarter. Based on capacity constraints and market demand we raised our DDIC prices in May. DDIC demand growth is expected to continue through the second half of 2018 led by gold bumping and mixed-signal testing and assembly services related to new, narrow bezel, full screen smartphone models, among other areas. We continue to manage our capacity levels closely in support of growth areas, including 12" fine pitch chip-on-film and TDDI, where revenue grew in the double digits compared to Q1 to represent in the high single digit of our total Q2 revenue. TDDI test programs require up to 3 times the test time of regular DDIC test programs, putting our capacity at an even higher premium as customers seek to secure the needed support for their expected growth.  We are also encouraged by growth in our flash assembly and test business, which is benefiting from diverse demand drivers, including IoT, smart speakers and gaming products.  As a result, our flash business revenue grew more than 15% in Q2 compared to Q1, and represented nearly 23% of total Q2 revenue. Overall, we think the rest of the year can be quite positive as we benefit from our growth strategy and improved capital structure."

Silvia Su, Vice President of Finance and Accounting, commented, "We held our operating expenses in check as we carefully manage our resources and operating structure in support of the higher demand levels we are seeing. Our focus on expense controls, along with increased demand and our DDIC price increase in May, helped us improve gross margin to 16.4% in Q2. We expect to see further improvement in gross margin as we move through 2018 based on current market conditions. We ended the second quarter with a balance of cash and cash equivalents of US$134.2 million, and a net debt balance of US$141.4 million with a net debt to equity ratio of 23.3%. This is after CapEx of $32.1 million in the second quarter, the majority of which was invested in expanding our LCD driver capacity to meet customer demand levels, mainly for DDIC test and 12" fine pitch chip-on-film. Our balance sheet is allowing us to reward shareholders through the issuance of cash dividend and a capital return related to our 2018 Capital Reduction plan. The dividend and the 2018 Capital Reduction plan have been approved by shareholders and Taiwan's Competent Authority, with distributions expected in the fourth quarter of 2018."

FIRST QUARTER 2018 FINANCIAL RESULTS

• Net Revenue at US$137.8 Million Compared to US$151.5 Million.
• Net earnings for the first quarter of 2018 were US$0.02 per diluted ADS, compared to US$0.13 per diluted ADS for the fourth quarter of 2017 and US$1.90 per diluted ADS in the first quarter of 2017.

S.J. Cheng, Chairman and President of ChipMOS, said, "Revenue for the first quarter of 2018 was in-line with expectations and reflects the typical low season, as compared to the fourth quarter, and reflects the subsequent lower allocation from the Company's largest DRAM customer, as compared to the first quarter of 2017. Despite the headwinds, first quarter of 2018 revenue benefited from demand growth from the industrial and automotive markets, and cryptocurrency applications. Our DRAM revenue increased 12.2% compared to the fourth quarter of 2017, with Test site revenue holding flat. Importantly, we have moved beyond the low season having reported 20.9% revenue growth for the month of March 2018, as compared to the month of February 2018. While our growth rate will fluctuate, the fundamentals of our business remain strong across a diverse base of customers and end markets, giving us confidence as we target quarter over quarter revenue growth in 2018. According to industry and customer' feedback, we expect to benefit from strong Niche DRAM demand, and an increased revenue contribution from TDDI, OLED, and 12 inch fine pitch chip on film ("COF") solutions. In-line with the growth we noted and capacity utilization levels, we are raising prices in our COF and gold bumping starting this month, which will partially benefit results in the current second quarter, with the full benefit to be seen in the second half of 2018."

Silvia Su, Senior Director of Finance and Accounting, commented, "The underlying fundamentals of our business remain strong and we are encouraged by the broad-based demand we are seeing. Results in the first quarter of 2018 reflect an unfavorable comparison with the first quarter of 2017 given the non-recurrence of a US$65.6 million benefit to net profit in the first quarter of 2017, in which the Company completed the ChipMOS Shanghai equity interest transfer to Tsinghua Unigroup led strategic investors combined with the subsequent lower allocation from the Company's largest DRAM customer, which impacted revenue in the first quarter of 2018. We expect gross margin will gradually improve from 14.6% in the low first quarter of 2018, as we move through 2018 based on current demand and capacity utilization levels. We ended the first quarter with a balance of cash and cash equivalents of US$229.8 million, and a net debt balance of US$138.6 million. We continue to execute on our core business, target sustainable higher margin growth opportunities, and prioritize capital expenditures in support of our long-term growth strategy. As a next step, our Board resolved on March 15, 2018 that NT$0.30 per common share will be distributed to shareholders from earnings and NT$1.50 per common share will be distributed to shareholders from a capital reduction in cash at a ratio of 15%. The total amount of cash to be distributed is approximately NT$1,586.3 million or US$54.5 million. On an ADS basis, the total cash distribution to shareholders will be approximately US$0.21 per ADS from earnings and US$1.03 per ADS from the capital reduction. The distribution dates are pending shareholders' approval of the distributions at the Company's annual general meeting on June 26, 2018."

HSINCHU, Taiwan, April 9, 2018 /PRNewswire/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of March 2018 and for the first quarter ended March 31, 2018. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.10 to US$1.00 as of March 30, 2018.

Revenue for the month of March 2018 was NT$1,463.6 million or US$50.3 million, an increase of 20.9% from the month of February 2018 and a decrease of 7.5% from the same period in 2017. The revenue growth reflects strong demand from Niche DRAM, and 12" gold bumping for TDDI in March. The Company's memory test businesses were operating at full capacity with increasing demand from cryptocurrency-mining-related programs, and the automotive market.

Revenue for the first quarter of 2018 was NT$4,011.0 million or US$137.8 million, representing a decrease of 9.0% from the fourth quarter of 2017, and a decrease of 12.0% from the first quarter of 2017, reflecting the impact of softer demand in the first two months of the first quarter of 2018 low season.

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2017. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.64 against US$1.00 as of December 29, 2017.

All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards ("Taiwan-IFRS"). In March 2017, the Company completed the sale and transfer of 54.98% equity interests of its former wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai") to Tsinghua Unigroup led investors ("Strategic Investors").  Under Taiwan-IFRS, starting in Q1 2017 the revenue generated by ChipMOS Shanghai is no longer included in the Company's consolidated revenue.  The Company, however, recognizes 45.02% of the net income generated from ChipMOS Shanghai on an ongoing basis.  Revenue from ChipMOS Shanghai has been excluded from all periods indicated.

Net revenue for the fourth quarter of 2017 was NT$4,408.2 million or US$148.7 million, a decrease of 0.5% from NT$4,431.1 million or US$149.5 million in the third quarter of 2017 and a decrease of 5.5% from NT$4,667.1 million or US$157.5 million for the same period in 2016.  Net profit attributable to equity holders of the Company for the fourth quarter of 2017 was NT$163.0 million or US$5.5 million, and NT$0.19 or US$0.01 per basic common share and NT$0.19 or US$0.01 per diluted common share, as compared to net profit attributable to equity holders of the Company for the third quarter of 2017 of NT$162.0 million or US$5.5 million, and NT$0.19 or US$0.01 per basic common share and NT$0.19 or US$0.01 per diluted common share, and compared to net profit attributable to equity holders of the Company in the fourth quarter of 2016 of NT$613.9 million or US$20.7 million, and NT$0.72 or US$0.02 per basic common share and NT$0.72 or US$0.02 per diluted common share.

Net revenue for the fiscal year ended December 31, 2017 was NT$17,940.8 million or US$605.3 million, a decrease of 2.4% from NT$18,387.6 million or US$620.4 million for the fiscal year ended December 31, 2016.  Net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2017 was NT$3,026.5 million or US$102.1 million, and NT$3.57 or US$0.12 per basic and NT$3.50 or US$0.12 per diluted common share, compared to net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2016 was NT$1,532.3 million or US$51.7 million, and NT$1.78 or US$0.06 per basic and NT$1.76 or US$0.06 per diluted common share.

S.J. Cheng, Chairman and President of ChipMOS, said, "We are pleased that we were able to achieve revenue in Q4 flat with Q3, despite the continued headwinds in our business, including the lower allocation from our largest DRAM customer, product mix changes in our Niche DRAM business and demand softness for gold bumping services.  Our ability to offset the pressure was due to the customer, business and geographic diversification strategy we have been executing for the past few years.  As a result, we benefitted from growth in DDIC demand, which is being led by higher driver demand from smartphone customers and stable demand from 4K TV customers.  We are also encouraged by strong demand for our NOR Flash business, led by wafer test services, which has resulted in NOR wafer test capacity being fully utilized.  Overall, we are optimistic for 2018 and expect to benefit from an increased revenue contribution from higher growth markets, including Automotive and Industrial, 3D optical sensing, TDDI, OLED, and 12 inch fine pitch chip on film ("COF").  Many of these growth opportunities are related to mobile devices, including 18:9 screens and new smartphone models featuring bezel-less panels, along with tablets, and wearable devices.  By offering tailored, reliable turnkey solutions that integrate wafer bumping and assembly, with leading edge OSAT services ChipMOS is positioned to drive growth in revenue and profitability capable of building further Shareholder value in 2018 and beyond."

Silvia Su, Senior Director of Finance and Accounting, commented, "We exited 2017 in a very strong competitive and financial position, with net earnings of US$2.36 per diluted ADS or net earnings of US$0.12 per diluted common share.  Our core business remains healthy led by our diversification efforts.  Our geographic diversification strategy further enhanced our competitive position and long-term growth potential. Importantly, we generated US$160.4 million cash from operations in 2017, ending 2017 with a cash and cash equivalents balance of US$271.1 million.  This is after we distributed cash (including cash dividend and capital surplus) of US$28.9 million to shareholders, and invested US$158.7 million in CapEx during 2017. We continue to make significant progress in our efforts to increase return on investment and shareholder value, with catalysts in 2017 including the completion of the sale and transfer of 54.98% equity interests of ChipMOS TECHNOLOGIES (Shanghai) LTD. to Tsinghua Unigroup led strategic investors, and funding of the manufacturing facility.  We will maintain a prudent CapEx strategy in 2018 as we continue to support our customers' efforts in existing program areas and in new, high potential growth markets where we can further leverage ChipMOS's technical expertise, geographic footprint and financial strength."

HSINCHU, Taiwan, March 15, 2018 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. (TWSE: 8150; NASDAQ: IMOS; "ChipMOS") announced today that its Board of Directors (the "Board") approved a capital reduction plan (the "2018 Capital Reduction Plan"), under which ChipMOS will reduce its capital by 15%.  As a result, 15% of the total number of issued shares will be cancelled, proportionately to the shareholding of each of the Company's shareholders (the "Shareholder").  The capital to be returned to each Shareholder will be approximately NT$1.5 per common share or approximately NT$30 per American Depositary Shares ("ADSs").  For the fiscal year 2017, ChipMOS reported earnings per basic share of NT$3.57 or earnings of NT$71.49 per basic ADS.  Separately, the Board approved a cash dividend distribution to Shareholders of approximately NT$0.3 per common share or approximately NT$6 per ADS.

Upon approval of the Shareholders and competent authority, each Shareholder will receive an amount calculated by approximately NT$1.8 per common share and each holder of ADS will receive an amount calculated by approximately NT$36 per ADS under the combined 2018 Capital Reduction Plan and separate cash dividend distribution.

As of today, ChipMOS has 886,297,061 shares issued.  Under the 2018 Capital Reduction Plan, ChipMOS' capital will be reduced by NT$1,329,445,590 and 132,944,559 shares will be cancelled.

S.J. Cheng, Chairman and President of ChipMOS, said, "We are pleased to reward shareholders with the 2018 Capital Reduction Plan and the approval of our annual dividend.  ChipMOS continues to execute on its business plan by securing our strategic leadership with growth platforms in Taiwan, mainland China, the United States and other markets critical to our global customer base.  While focusing on profitable revenue growth, margin stability, cash flow growth and building shareholder value, we have achieved considerable success.  The 2018 Capital Reduction plan approved by our Board of Directors is the latest action to return capital to our shareholders as we have previously done through both dividends and other cash distributions.  We believe the capital reduction will serve to further improve our return on equity, while giving us the proper capital structure to support our customers, and improving the Company's competitiveness, business performance and profit-earning ability."

For information about taxation of Shareholders and ADS' holders, please see information contained in ChipMOS's annual report for the year ended December 31, 2016, on Form 20-F filed with the United States Securities and Exchange Commission (SEC). ChipMOS advises shareholders and holders of ADSs to consult their own tax advisors with respect to tax aspects of the planned distribution.

HSINCHU, Taiwan, Feb. 9, 2018 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of January 2018.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.16 to US$1.00 as of January 31, 2018.

Revenue for the month of January 2018, was NT$1,337.0 million or US$45.9 million, a decrease of 5.3% from the month of December 2017 and a decrease of 14.1% from the same period in 2017. 

HSINCHU, Taiwan, Jan. 9, 2018 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of December 2017 and for the fourth quarter ended December 31, 2017. All U.S. dollar figures cited in this release are based on the exchange rate of NT$29.64 to US$1.00 as of December 29, 2017.

Revenue for the fourth quarter of 2017 was NT$4,408.3 million or US$148.7 million, representing a decrease of 0.5% from the third quarter of 2017, and a decrease of 5.5% from the fourth quarter of 2016.

Revenue for the month of December 2017 was NT$1,411.6 million or US$47.6 million, a decrease of 3.3% from the month of November 2017 and a decrease of 11.1% from the same period in 2016. 

HSINCHU, Taiwan, Dec. 8, 2017 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of November 2017.

Revenue for the month of November 2017, was NT$1,459.6 million or US$48.7 million, a decrease of 5.0% from the month of October 2017 and a decrease of 3.8% from the same period in 2016.  Results were affected by seasonality and product mix.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.98 to US$1.00 as of November 30, 2017.

THIRD QUARTER 2017 FINANCIAL RESULTS

• Net Revenue at US$146.1 Million Compared to US$149.7 Million.
• Net Earnings of US$0.13 Per Diluted ADS Compared to US$0.25 Per Diluted ADS; Net Earnings of US$0.01 Per Diluted Common Share Compared to US$0.01 Per Diluted Common Share.

Silvia Su, Senior Director of Finance and Accounting, commented, "Our gross margin was impacted by several items in the third quarter, including, the lower allocation from our largest DRAM customer, production disruption and loss from Taiwan's massive August power outage.  We reduced our short-term bank loans by about US$34.0 million.  We also paid cash dividend of approximately US$28.2 million in the third quarter.   We continue to execute on our core business, target sustainable higher margin growth opportunities, and prioritize capital expenditures in support of our long-term growth strategy."

SECOND QUARTER 2017 FINANCIAL RESULTS

• Net Revenue at US$149.5 Million Compared to US$150.1 Million
• Net Earnings of US$0.25 Per Diluted ADS Compared to US$1.82 Per Diluted ADS; Net Earnings of US$0.01 Per Diluted Common Share Compared to US$0.09 Per Diluted Common Share; 1Q17 Includes a Net Income Benefit of US$62.8 Million from the ChipMOS Shanghai Equity Interest Transfer to Tsinghua Unigroup Led Strategic Investors, which Did Not Repeat in 2Q17.

S.J. Cheng, Chairman and President of ChipMOS, said, "We are pleased that we were able to expand our gross margin to 20.1% in 2Q17 from 17.9% in 1Q17 on relatively flat revenue.  This underscores the leverage in our business model, as we further improved our overall utilization level to 77%, led by strength in our higher margin testing business.  Revenue growth was offset primarily by a lower allocation from our largest DRAM customer, and continued China handset market softness, which is impacting small panel LCD driver demand.  We are confident we will be able to offset the softness with more financially attractive business diversification led by new programs we are now ramping with some of world's largest consumer and technology product companies, combined with the progress we are making at our Shanghai facility. We also expect DDIC demand will continue to improve as we benefit from the ongoing 4K2K/UHD TV market development, combined with new model/feature introductions and requirements from smartphones, including OLED, TDDI, narrow bezel and larger screens.  In addition to increased driver volumes, these trends mean longer test times.  With respect to the China market, we were pleased to report that our China JV is now funded, ramping production and qualifying a variety of new customer programs.  Our strategic partners' buildout of their semiconductor ecosystem is now expected to be even more aggressive and on a larger scale than originally contemplated.  The fact that ChipMOS is positioned as the OSAT services company within the Unigroup ecosystem gives us excellent growth prospects as DDIC ramps in the near-term followed by growth in domestic China memory production over the longer-term."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "This was an unfavorable quarter on quarter comparison as net income in the first quarter of 2017 included US$62.8 million related to the completion of ChipMOS Shanghai equity interest transfer to Strategic Investors, which did not repeat in the second quarter of 2017.  Our gross margin moved to 20.1%, with some additional room for improvement likely as the DRAM revenue declining is being replaced with higher margin revenue opportunities.  We also expect to see some improvement for stabile to higher utilization levels.  We remain in a financially strong position, ending the second quarter with a balance of cash and cash equivalents of US$364.7 million, and a net debt balance of US$48.8 million with net debt to equity ratio of 8.3%.  This is after CapEx of US$45.9 million in the quarter, the majority of which was invested in expanding our DDIC test capacity to meet customer demand levels.  We continue to execute on our core business, target sustainable higher margin growth opportunities, and prioritize capital expenditures in support of our long-term growth strategy in both Taiwan and China."

HSINCHU, Taiwan, July 10, 2017 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of June 2017 and for the second quarter ended June 30, 2017.  Both periods exclude revenue from ChipMOS Shanghai (see Note 1 below).

Revenue for the second quarter of 2017, was NT$4,541.3 million or US$149.5 million, representing a decrease of 0.4% from the first quarter of 2017, and an increase of 0.8% from the second quarter of 2016.

Revenue for the month of June 2017, was NT$1,411.1 million or US$46.4 million, a decrease of 7.5% from the month of May 2017 and a decrease of 8.1% from the same period in 2016.

S.J. Cheng, Chairman and President of ChipMOS, said, "We are at various stages of ramping new programs with some of the world's largest consumer and technology product companies.  These programs are expected to give us added business diversity and further improvements in utilization rates starting in the second half of this year.  Some of the growth is likely to be offset in the near term by fluctuations at companies where a multi-source relationship exists or where a product focus changes, which is typical of the OSAT industry and can lead to our loading volumes flexing up and down in any given period. As always, our focus remains on execution and not on monthly fluctuations.  Importantly, over the next 12 months or so we will be executing our China JV buildout and ramp; ramping the wins we have in-place with some of the world's largest consumer and technology product companies; and continuing to grow with our existing customers as we have successfully done over the years."

FIRST QUARTER 2017 FINANCIAL RESULTS

• Net Revenue Above Guidance at US$150.1 Million Compared to US$153.6 Million.
• Net income attributable to equity holders of the Company for the first quarter of 2017 was NT$2,380.1 million or US$78.3 million, and NT$2.82 or US$0.09 per basic common share and NT$2.77 or US$0.09 per diluted common share, as compared to net income attributable to equity holders of the Company for the fourth quarter of 2016 of NT$613.9 million or US$20.2 million, and NT$0.72 or US$0.02 per basic common share and NT$0.72 or US$0.02 per diluted common share, and compared to net income attributable to equity holders of the Company in the first quarter of 2016 of NT$348.4 million or US$11.5 million, and NT$0.40 or US$0.01 per basic common share and NT$0.40 or US$0.01 per diluted common share.

S.J. Cheng, Chairman and President of ChipMOS, said, "Revenue for the first quarter of 2017 came in above our guidance in what is traditionally the seasonally lowest quarter for the OSAT sector.  This reflects strength in our LCD driver business, led by demand from both small and large panels.  We expect the LCD driver demand environment will continue to improve in as we benefit from the ongoing 4K2K TV and UHD market development, combined with the anticipated smartphone recovery, led by new model introductions and technology innovations, including OLED, 3D sensing and fingerprint sensors.  There was a mixed performance in our memory business, with commodity DRAM demand slightly higher in Q1 and flash-related revenue down approximately 9% compared to the prior fourth quarter.  Revenue in our mixed-signal business was down slightly compared to 4Q16, which was offset by an uptick in our WLCSP revenue.  We exited Q1 with our balance sheet in the strongest position in the Company's history and our growth prospects highly robust, bolstered by the diversification of our end markets, our unique position in the Taiwan and China supply chain and the positive demand outlooks of our key customers.  With respect to the China market, we were pleased to report on March 24, 2017 that we completed the previously disclosed equity interest transfer to a group of Strategic Investors.  We are excited to move forward with our partner Tsinghua Unigroup given the synergies, financial and strategic support, and critical advocacy of a powerful partner in the fast growing China market, which we expect to be central to our longer-term success."

First Quarter 2017 Financial Results

Revenue for the first quarter of 2017, excluding revenue from ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), was NT$4,560.3 million or US$150.1 million, representing a decrease of 2.3% from the fourth quarter of 2016, and an increase of 2.5% from the first quarter of 2016.

HSINCHU, Taiwan, March 24, 2017 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) today announced the completion of its previously disclosed equity interest transfer to a group of investors led by Tsinghua Unigroup ("Strategic Investors").

Under the joint-venture agreement approved by the Board of ChipMOS on November 30, 2016, ChipMOS TECHNOLOGIES (BVI) LTD. ("ChipMOS BVI"), a wholly owned subsidiary of ChipMOS, sold 54.98% of the equity interest of its wholly owned subsidiary, ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), to Strategic Investors for approximately US$72 million. ChipMOS BVI will continue to own 45.02% of the equity interests of ChipMOS Shanghai, Tsinghua Unigroup through its subsidiary, Tibet Unigroup Guowei Investment Co., Ltd. ("Unigroup Guowei") will own 48%, and other strategic investors, including a limited partnership owned by ChipMOS Shanghai's employees will own 6.98%.

Upon receipt of the proceeds from the equity interest sale, the Company plans to reinvest back into ChipMOS Shanghai approximately RMB 484 million (approximately US$70 million) pro rata, resulting in the total additional investment of RMB 1,074 million (approximately US$155 million) to ChipMOS Shanghai, which will allow for the expansion of the capacity of and services offered by ChipMOS Shanghai. The reinvestment is expected to occur in two tranches, one by the end of the first half of 2017 and one depending on the CapEx plan of ChipMOS Shanghai, which is directly aligned with the operation's strategic growth plan.

S.J. Cheng, Chairman of ChipMOS, commented, "This is another major step forward that strengthens our competitive position, significantly expands the growth potential of our ChipMOS Shanghai's operations, and creates a higher return for our company and shareholders. We appreciate the confidence expressed by Tsinghhua Unigroup and our other strategic investors in selecting ChipMOS Shanghai as their partner given the expected growth of China's domestic semiconductor supply chain and the critical role OSAT services will play in ensuring higher quality yields and supporting the overall expected expansion. With the benefit of the additional financial and strategic partnership resources, we can now further accelerate the planned expansion for LCD driver ICs, touch driver, AMOLED, OLED and memory testing, assembly and bumping services offered by ChipMOS Shanghai.  We look forward to working closely with Tsinghua Unigroup to grow ChipMOS Shanghai's revenue and profit, while promoting the interests of all shareholders and employees."

HSINCHU, Taiwan, March 16, 2017 /PRNewswire/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today provided its consolidated financial forecast for the first quarter of 2017 pursuant to a request from the Taiwan Stock Exchange. This is intended to provide additional information on the underlying financial forecast of the first quarter of 2017 guidance provided by the Company on March 9, 2017 and does not represent a change in that guidance.

Based on Taiwan's applicable regulations, a publicly listed company is prohibited from providing any financial forecast or business guidance publicly if its sum total of the non-operating income and expenses on the consolidated (or individual) financial reports for the most recent four quarters accounts for more than 10 percent of the sum total of the profit before tax.  Otherwise a company may be required to publish a simplified financial forecast for the period concerned.  ChipMOS provided guidance for the first quarter of 2017 in its press release issued on March 9, 2017 as well as in the accompanying investor conference calls hosted by the Company.  Given the Company's non-operating income and expenses for the most recent four quarters are accounted for 18% of the profit before tax, the Taiwan Stock Exchange deemed it was necessary for the Company to publish a simplified financial forecast, as listed below.

FOURTH QUARTER 2016 FINANCIAL RESULTS

• Net Revenue of US$567.5 Million Compared to US$581.4 Million.
• Net Earnings of US$0.06 Per Basic Common Share and US$0.05 Per Diluted Common Share Compared to US$0.08 Per Basic Common Share and US$0.08 Per Diluted Common Share.

.J. Cheng, Chairman and President of ChipMOS, said, "The fourth quarter developed as expected with revenue in-line with guidance and gross margin above the high-end of guidance. Our memory business remained relatively stable due to the industry's favorable supply / demand position. We expect to benefit from growth in the DRAM and NAND flash markets after the tradition Q1 seasonal trough and fewer working days in the quarter due to Chinese New Year closures. Demand is coming from diverse applications including handsets and computing. Revenue from our LCD driver business declined compared to the prior quarter and year ago period reflecting industry-wide headwinds due to a channel inventory adjustment and capacity shift for some applications, like smartphones, to OLED solutions, where we are also expanding our business. We expect to see demand improve as we move past the first quarter led by further penetration of the 4K2K opportunity, demand from the smartphone market and expected growth out of China. Finally, we believe our previously announced ChipMOS Shanghai joint-venture, with strategic investors led by Tsinghua Unigroup, will likely close by the end of the first quarter of 2017. We expect this joint-venture will serve as a cornerstone for our long-term growth by allowing us accelerate the planned expansion of ChipMOS Shanghai, while adding on new lines to service the higher demand we are seeing for our LCD driver ICs, touch driver, AMOLED, OLED and memory back-end services. Tsinghua Unigroup committed to actively supporting the joint-venture across its comprehensive semiconductor supply chain investment portfolio. We look forward to working to mutually grow the sustainable revenue and profit of ChipMOS Shanghai, while promoting the interests of all shareholders and employees."

S.K. Chen, Vice President of ChipMOS, said, "We continue to execute on our core business while prioritizing OpEx efficiencies, cash flow generation and debt reduction. Net earnings per common share of fourth quarter of 2016 benefitted from a net foreign exchange gain of US$6.2 million, the reversal of accrued income tax of US$6.4 million related to the merger of ChipMOS Bermuda and ChipMOS Taiwan, and a change in the company's depreciation schedule of the production equipment to 8 years from 6 years. We ended 2016 with US$233.7 million in cash and cash equivalents and our net debt to equity ratio was 19.8% as of December 31, 2016. This is after we generated US$109.5 million in cash from operations, distribution of a US$55.3 million cash dividend, distribution to shareholders of US$101.7 million in cash consideration related to the merger of ChipMOS Taiwan and ChipMOS Bermuda, and a CapEx investment of US$96.4 million."

First Quarter 2017 Outlook

The Company expects revenue for the first quarter of 2017 to be approximately 4% to 8% lower, as compared to the fourth quarter of 2016 reflecting traditional seasonality and fewer working days in the quarter due to Chinese New Year closures. The Company expects gross margin on a consolidated basis to be in the range of approximately 16% to 20% for the first quarter of 2017. The Company expects depreciation and amortization expenses for the first quarter of 2017 to be approximately US$22 million. Operating expenses are expected to be approximately 9% to 11% of revenues in the first quarter of 2017. The Company expects CapEx spending to be approximately US$43 million in the first quarter of 2017. The total number of the Company's outstanding common shares at the end of the first quarter of 2017 is expected to be approximately 856 million, whereas the total outstanding ADS number was 21.2 million units, 49.6% of the outstanding common shares, as of February 28, 2017.

HSINCHU, Taiwan, Jan. 9, 2017 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of December 2016 and for the fourth quarter ended December 31, 2016.

Revenue for the fourth quarter of 2016 was NT$4,925.9 million or US$152.0 million, representing a decrease of 1.8% from the third quarter of 2016, and an increase of 3.6% from the fourth quarter of 2015. This was in-line with the Company's guidance, which called for revenue to be approximately flat to down in the low single digits, as compared to the third quarter of 2016, and was in-line with typical seasonality.

Revenue for the month of December 2016 was NT$1,677.6 million or US$51.8 million, an increase of 4.6% from the month of November 2016 and an increase of 6.5% from the same period in 2015.  All U.S. figures in this release are based on the exchange rate of NT$32.40 to US$1.00 as of December 30, 2016.

HSINCHU, Taiwan, Dec. 9, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of November 2016.

Revenue for the month of November 2016 was NT$1,603.1 million or US$50.2 million, a decrease of 2.6% from the month of October 2016 and an increase of 1.7% from the same period in 2015. This is consistent with the Company's guidance provided on November 10, 2016 that it expects revenue for the fourth quarter of 2016 to be approximately flat to down in the low single digits, as compared to the third quarter of 2016, in-line with typical seasonality. The Company now expects gross margin on a consolidated basis to be approximately 12% to 16% for the fourth quarter of 2016, primarily reflecting the adverse impact of expenses related to the Company's recent merger and the subsequent 54.98% equity interest sale of ChipMOS Shanghai, and the Company's  provision for slow-moving material and spare parts, all of which are expected to have an aggregate impact of approximately 5.0% in the fourth quarter. The sale of the 54.98% equity interest is expected to result in a gain to ChipMOS in the fourth quarter of 2016 of approximately NT$2,288 million (approximately NT$2.67 per ChipMOS share) primarily due to a gain on the appreciation of fixed assets and land use rights.

All U.S. figures in this release are based on the exchange rate of NT$31.92 to US$1.00 as of November 30, 2016.

HSINCHU, Taiwan, Nov. 30, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. (listed on the Taiwan Stock Exchange under Stock Ticker 8150 and on the NASDAQ under Stock Ticker IMOS; hereinafter "ChipMOS Taiwan" or "ChipMOS") and Tsinghua Unigroup Ltd. ("Tsinghua Unigroup") today announced an agreement to form a joint-venture and to mutually terminate Tsinghua Unigroup's earlier private placement plan.

Under the joint-venture agreement, ChipMOS TECHNOLOGIES (BVI) LTD. ("ChipMOS BVI"), a wholly owned subsidiary of ChipMOS Taiwan, will sell 54.98% of the equity interests of its wholly owned subsidiary, ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), to a group led by Tsinghua Unigroup ("strategic investors"), for approximately RMB 498.4 million (approximately NT$2,437 million or US$77 million). After the consummation of such equity interest transfer, ChipMOS BVI will own 45.02% of the equity interests of ChipMOS Shanghai, Tsinghua Unigroup through its subsidiary, Tibet Unigroup Guowei Investment Co., Ltd. ("Unigroup Guowei") will own 48%, and other strategic investors, including a limited partnership owned by ChipMOS Shanghai's employees will own 6.98%. The investment will be used to expand the capacity of and services offered by ChipMOS Shanghai. The joint-venture agreement has been approved by the Board of Directors of ChipMOS Taiwan.

S.J. Cheng, Chairman of ChipMOS, commented, "We are pleased to reach this joint-venture agreement with Tsinghua Unigroup, which has been at the forefront of the rapidly evolving global semiconductor value chain. As a leader of the semiconductor assembly and test segment, ChipMOS will be able to leverage our extensive expertise and relationships, R&D resources and technology roadmap to meet a critical need within the Tsinghua Unigroup portfolio as it works to meet expanding domestic China market. The joint-venture will allow us accelerate the planned expansion of ChipMOS Shanghai, while adding on new lines to given the higher demand we are seeing for our LCD driver ICs, touch driver, AMOLED, OLED and memory testing, assembly and bumping services. Tsinghua Unigroup is committed to actively supporting the company across its comprehensive semiconductor supply chain investment portfolio, as we work to mutually grow the sustainable revenue and profit of ChipMOS Shanghai over the long-term, while promoting the interests of all shareholders and employees."

Details of Joint-Venture Agreement and Termination Agreement:

A mutual agreement was reached between ChipMOS and Tsinghua Unigroup to terminate Tsinghua Unigroup's participation in a planned private placement of ChipMOS Taiwan:

On December 11, 2015, the Board of Directors of ChipMOS Taiwan adopted a resolution to approve a private placement of common shares in which 299,252,000 private placement shares issued by ChipMOS Taiwan would be subscribed by a controlled entity of Tsinghua Unigroup at NT$ 40 per share, and ChipMOS Taiwan and Tsinghua Unigroup entered into the Share Subscription Agreement with other transaction documents on the same date. The aforementioned private placement was subsequently approved by a resolution of ChipMOS Taiwan's shareholders meeting on January 28, 2016, and the subscriber, Tibet MaoYeChuangXin Investment LTD., also entered into another Share Subscription Agreement and other transaction documents with ChipMOS Taiwan.

All parties have agreed to mutually terminate the Share Subscription Agreement and other transaction documents. ChipMOS Taiwan held a Board meeting to terminate the aforementioned private placement, and entered into the Termination Agreement with Tsinghua Unigroup and the subscriber, respectively.
Under the joint-venture agreement announced today, ChipMOS BVI, a wholly owned subsidiary of ChipMOS Taiwan, will sell 54.98% of the equity interests of its China subsidiary, ChipMOS Shanghai, to strategic investors led by Tsinghua Unigroup, and will further increase the capital of ChipMOS Shanghai with such strategic investors according to their respective shareholding ratio. The sale of the 54.98% equity interest is expected to result in a gain to ChipMOS Taiwan of approximately NT$2,288 million (approximately NT$2.67 per ChipMOS Taiwan share) upon the transaction's close primarily due to a gain on the appreciation of fixed assets and land use rights.

ChipMOS BVI, a wholly owned subsidiary of ChipMOS Taiwan, originally owned 100% of equity interests of ChipMOS Shanghai. ChipMOS and ChipMOS BVI entered into the Equity Interest Purchase Agreement and the Agreement for China-Foreign Joint Venture with each strategic investor respectively, such as Unigroup Guowei, an indirectly wholly owned subsidiary of Tsinghua Unigroup, and the limited partnership owned by ChipMOS Shanghai's employees, selling 54.98% of equity interests of ChipMOS Shanghai at the price of around RMB 498.4 million to strategic investors including Unigroup Guowei and others, and the limited partnership owned by ChipMOS Shanghai's employees (hereinafter collectively as "Purchasers"). After the consummation of such equity interest transfer, ChipMOS BVI will own 45.02% of equity interests of ChipMOS Shanghai, Unigroup Guowei will own 48% of equity interests of ChipMOS Shanghai, and other strategic investors and the limited partnership owned by ChipMOS Shanghai's employees will own 6.98% of equity interests of ChipMOS Shanghai. ChipMOS BVI will increase capital to ChipMOS Shanghai, by the funds obtained from selling equity interests of ChipMOS Shanghai, with the Purchasers according to their respective shareholding ratio, and except the foregoing funds, ChipMOS BVI does not inject any additional funds to ChipMOS Shanghai. ChipMOS Shanghai is expected to gain additional cash of approximately RMB 1,074.0 million from a capital increase after the deal closes. 
S.J. Cheng, Chairman of ChipMOS, added, "We have been steadily ramping production at ChipMOS Shanghai as part of a three-year capacity expansion plan, which is aligned with the increasing customer demand levels for semiconductor testing and assembly services in Mainland China and our goal of achieving sustainable profitability at ChipMOS Shanghai. Other than the US$42 million capital contribution invested and US$33 million bank loan facility secured formerly, the additional RMB 1,074.0 million capital contribution will help us achieve our targeted economies of scale and our long-term goals. We are also pleased as the joint-venture structure brings powerful strategic partners to ChipMOS Shanghai in a structure that will benefit all shareholders."

THIRD QUARTER 2016 FINANCIAL RESULTS

• Net Revenue of US$160.4 Million Compared to US$151.2 Million
• Net Earnings of US$0.01 Per Basic Common Share and US$0.01 Per Diluted Common Share Compared to US$0.01 Per Basic Common Share and US$0.01 Per Diluted Common Share

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We are pleased to be reporting today as the newly merged ChipMOS Taiwan and ChipMOS Bermuda. We are now able to focus all of our efforts on the priority opportunities that we expect will drive our growth and ultimately create value for shareholders. Revenue for the third quarter came in at the high-end of our guidance, up 6.1% as compared to Q2. We are benefitting from strong DDI demand in small panels. This uptick started in late Q216 and is expected to continue through Q416 due to inventory tightness across the supply chain. We expect this to be one of many favorable catalysts in our business. We are also pleased with the timing of capacity adds in our bumping business, which increased to 78% utilization from 67% in the prior quarter even as we absorbed the new capacity coming online. Our memory services also saw demand strength led by DRAM and flash, including Mask ROM, while revenue of our mixed signal business grew near 20% sequentially. Overall, we are confident in the prospects for our business, with utilization levels expected to trend higher through the first half of 2017 based on customer feedback, an expected inventory replenishment, and higher demand for our MEMS, finger print sensor, touch driver, AMOLED, and OLED testing and assembly services. We also remain fully focused on moving forward with our expansion in China and look forward to updating you on our progress. Finally, our Board of Directors approved a cash dividend payable on December 19 to shareholders of record of December 3 (NT$2.0 per share without and NT$1.5 per share with Unigroup Private Placement). We will continue to evaluate the capital needs of our business and will also consider the reinstatement of our share repurchase, if and when the Board determines the timing appropriate in relation to our other capital needs, including the expansion in China and ongoing CapEx needs as we support existing and forecast customer demand levels. Based on the Taiwan Securities and Exchange Act, in relation to the declaration and distribution of a dividend, we cannot repurchase shares during the period from the notification to two days before the book closure date. As a result, the Company is not allowed to repurchase its own shares prior to November 27."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "Our Q316 gross margin was 19.0%, which came in at the high end of our guidance due to product mix and higher utilization levels. We generated US$84.3 million in cash from operations in the first three quarters of 2016, with US$45.9 million invested in CapEx, and US$0.6 million used in the repurchase of shares from the open market in 3Q16. We made further progress with Tsinghua Unigroup on its proposed investment, which was already overwhelmingly approved by shareholders early this year. We still require regulatory approval in Taiwan but expect to reach a decision by the end of December as our private placement agreement will expire on December 11 and would require another shareholder vote to extend. Regardless of the outcome, we expect material growth in China in 2017 and should have the necessary funding in place. Beyond 2017, if the Tsinghua Unigroup investment is not approved by the Taiwan regulators we would likely pursue a joint venture structure in Shanghai to secure the more significant investment required to achieve our long-term growth targets."

Fourth Quarter 2016 Outlook

The Company expects revenue for the fourth quarter of 2016 to be approximately flat to down in the low single digits, as compared to the third quarter of 2016, in-line with typical seasonality. The Company expects gross margin on a consolidated basis to be in the range of approximately 16% to 20% for the fourth quarter of 2016. The Company expects depreciation and amortization expenses for the fourth quarter of 2016 to be approximately US$24 million. Operating expenses are expected to be approximately 11% to 14% of revenues in the fourth quarter of 2016. The Company expects CapEx spending to be approximately US$35 million in the fourth quarter of 2016, as the Company continues to build-up LCD driver capacity at its Shanghai facility. The total number of the Company's outstanding common shares at the end of the fourth quarter of 2016 is expected to be approximately 856 million.

HSINCHU, Taiwan, Aug. 12, 2016 /PRNewswire-FirstCall/ --  ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today announced that its shareholders have approved the merger (the "Merger") of ChipMOS with and into ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan", Taiwan Stock Exchange: 8150), a company limited by shares incorporated under the laws of the Republic of China and a 58.3% directly owned subsidiary of ChipMOS as of January 21, 2016, with ChipMOS Taiwan being the surviving company after the Merger at ChipMOS's annual general meeting of shareholders (the "Annual General Meeting") held today.  It was announced that 83.41% of the outstanding shares ChipMOS were voted in favor of the Merger (1.03% of the outstanding shares of ChipMOS were voted against the Merger, 0.44% abstained, and 15.12% did not vote).  In addition, 83.66% of the outstanding shares ChipMOS Taiwan were voted in favor of the Merger at the ChipMOS Taiwan Extraordinary General Meeting, which was also held today (0.0% of the outstanding shares of ChipMOS were voted against the Merger, 5.84% abstained, and 10.50% did not vote). Both ChipMOS and ChipMOS Taiwan expect to close the Merger by October 31, 2016.

In connection with the Merger, the Annual General Meeting has also approved (i) the Agreement and Plan of Merger dated January 21, 2016 (the "Merger Agreement") by and between ChipMOS and ChipMOS Taiwan and the transactions contemplated therein, (ii) the statutory merger agreement between ChipMOS and ChipMOS Taiwan (the "Bermuda Merger Agreement") and the transactions contemplated therein and (iii) ChipMOS's adoption of the Merger Agreement and the Bermuda Merger Agreement, and has authorized any one or more of the directors of ChipMOS to execute and deliver documents on his behalf and on behalf of ChipMOS in connection with, and to do all things necessary to give effect to, the Merger, the Merger Agreement, the Bermuda Merger Agreement and the matters contemplated thereby.

All other proposals at the Annual General Meeting were approved by the ChipMOS shareholders, including the re-election to the Board of Directors of ChipMOS (the "Board") of Messrs. John Yee Woon Seto, Chao-Jung Tsai and Rong Hsu, as directors for three-year terms; and the re-appointment of PricewaterhouseCoopers, Taiwan, as the independent auditors of ChipMOS, to hold office until the close of the next annual general meeting, and the authorization of the Board to determine their remuneration.

Under the Merger Agreement, ChipMOS's shareholders will receive US$3.71 in cash, without interest, and 0.9355 American Depository Shares ("ADS" and each ADS representing 20 new common shares, par value of NT$10 each, to be issued by ChipMOS Taiwan ("ChipMOS Taiwan Shares")) representing 18.71 ChipMOS Taiwan Shares in exchange for each ChipMOS common share of par value US$0.04 held immediately prior to the closing of the Merger. This would represent US$22.30 in total consideration as of August 11, 2016 and a premium of 16.5%, based on the average closing prices of ChipMOS and ChipMOS Taiwan on the Nasdaq and the Taiwan Stock Exchange on August 11, 2016 and an exchange rate of NT$31.3 to US$1.0.  On closing of the Merger, all common shares of ChipMOS and ChipMOS Taiwan Shares currently held by ChipMOS will be cancelled.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS and ChipMOS Taiwan, commented, "Today's overwhelmingly positive vote is a strong endorsement of the strategic rationale and potential cost savings to the Company. We are very excited to be near the end of our multi-year corporate streamlining process. We will now work to secure the two approvals required in Taiwan, as we have already received necessary approvals by the U.S. Securities and Exchange Commission and Bermuda authorities. Our goal is to now finalize the merger on an accelerated schedule by October 31, 2016. Importantly, we will be moving forward as a unified, more efficient company with diverse and compelling near and longer term growth opportunities."

SECOND QUARTER 2016 RESULTS 

• Net Revenue of US$146.7 Million Compared to US$146.6 Million.
• Net Earnings of US$0.02 Per Basic Common Share and US$0.02 Per Diluted Common Share Compared to US$0.10 Per Basic Common Share and US$0.10 Per Diluted Common Share

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Second quarter results were as expected. Growth in our LCD driver business was led by a rebound in small panel LCD drivers, which started in late 2Q16. Our memory services business was lower due to the macro DRAM segment. Mixed signal demand stable. Overall, we feel good about our capacity levels and expect to see utilization levels trend higher in the second half of 2016 based on customer feedback, an expected inventory replenishment, and higher demand for our MEMS, finger print sensor, touch driver, AMOLED, and OLED testing and assembly services. We are confident we can meet the improving demand outlook through our existing Taiwan and Shanghai facilities. Importantly, our outlook has improved over the past few weeks, following several specific customer demand indications, which will help drive sequential revenue growth in both the third and fourth quarters of 2016. Importantly, we are on track with our proposed merger of ChipMOS Taiwan and the Company having received support from shareholders and favorable recommendations from leading independent proxy voting and corporate governance advisory firms, Institutional Shareholder Services ("ISS") and Glass Lewis. We will hold our annual general meeting of shareholders on August 12, 2016, at 9:00AM (Taipei Time) and look forward reporting the results to shareholders. We are aggressively working for closure of the Merger, with an internal target of the end of October 2016." S.K. Chen, Chief Financial Officer of ChipMOS, said, "Our gross margin was 17.1% for 2Q16. We ended the second quarter with a net cash balance of US$102.2 million, after generating US$59.3 million in cash from operations, with US$26.1 million invested in CapEx, and US$16.1 million used for the repurchase of shares of ChipMOS Taiwan on the open market. We also invested an additional US$42.0 million into our Shanghai facility as we ramp our capacity to support the vast existing Domestic China demand and compelling longer-term growth opportunities. We continue to work with Tsinghua Unigroup on its proposed investment. We feel confident we will be able to reach a positive outcome as we work through the regulatory approval process but we have put back-up financing in place so that we can move forward on our own if there is a delay given the extensive opportunities for growth in China."

Third Quarter 2016 Outlook

The Company expects revenue for the third quarter of 2016 will increase approximately 3% to 7% as compared to the second quarter of 2016. The Company expects gross margin on a consolidated basis to be in the range of approximately 16% to 20% for the third quarter of 2016. The Company expects depreciation and amortization expenses for the third quarter of 2016 to be approximately US$26 million. Operating expenses are expected to be approximately 8% to 11% of revenues in the third quarter of 2016. The Company expects CapEx spending to be approximately US$43 million in the third quarter of 2016, as the Company continues to build-up LCD driver capacity at its Shanghai facility. The total number of the Company's outstanding common shares at the end of the third quarter of 2016 is expected to be approximately 27 million.

HSINCHU, Taiwan, July 12, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today announced that through its majority-owned subsidiary ChipMOS TECHNOLOGIES INC. (TWSE:8150), ChipMOS TECHNOLOGIES (SHANGHAI) LTD. ("ChipMOS Shanghai"), has secured a new US$33 million, three-year, floating rate, secured, non-revolving credit line.  Bank of Taiwan acted as lead manager of the syndicate, which also included Land Bank of Taiwan.

ChipMOS Shanghai expects to use the proceeds from the credit facility to further build out its assembly and test capacity for LCD drivers and to provide additional working capital for general corporate purposes.

Mr. S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, and representatives from the bank syndicate were present at the signing ceremony held in office of Bank of Taiwan in Shanghai, China.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We appreciate the continued excellent partnership of Taiwan's most prominent banking institutions in support of our growth plan.  As in the past, we are strategically adding capacity in a conservative manner in order to best match anticipated customer demand requirements with our OSAT footprint.  Our ongoing China expansion remains central to our longer-term success, and will help ensure our leadership position as the semiconductor industry supply chain continues to dynamically evolve at a rapid pace."

HSINCHU, Taiwan, May 16, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS") (IMOS) announced today that its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan") (8150.TW), has secured two new credit lines (aggregated as the "Credit Facility") from a syndicate of eleven Taiwan banks. The first credit line is a NT$8.3 billion (approximately US$257.9 million), five-year, floating rate, secured, non-revolving credit line. The second is a NT$4.9 billion (approximately US$152.3 million) unsecured, floating rate, revolving credit line. ChipMOS Taiwan expects to use the proceeds from the Credit Facility to refinance its existing bank debt and to provide additional working capital for general corporate purposes. 

Land Bank of Taiwan acted as lead manager, Bank of Taiwan and Taiwan Cooperative Bank acted as co-lead, of the syndicate, which also included Yuanta Bank, Taishin International Bank, Hua Nan Bank, Ta Chong Bank, Chang Hwa Bank, Bank of Panhsin, and Shin Kong Bank. Mr. S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, and representatives from the bank syndicate were present at the signing ceremony held in head offices of Land Bank of Taiwan in Taipei, Taiwan.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We appreciate the continued support and excellent partnership of Taiwan's most prominent banking institutions. The new Credit Facility will allow ChipMOS Taiwan to refinance its existing debt obligations on more favorable financial terms, while maintaining financial flexibility to support the Company's growth plans. The Company's strong financial health, market leadership and compelling growth opportunities in both core product areas and new expansion markets were all strong factors in securing this latest strategic opportunity."

FIRST QUARTER 2016 FINANCIAL RESULTS

• Net Revenue of US$146.8 Million Compared to US$147.8 Million
• Net income attributable to equity holders of the Company for the first quarter of 2016 was NT$92.4 million or US$2.9 million, and NT$3.38 or US$0.11 per basic common share and NT$3.35 or US$0.10 per diluted common share, as compared to net income attributable to equity holders of the Company for the fourth quarter of 2015 of NT$65.9 million or US$2.0 million, and NT$2.42 or US$0.08 per basic common share and NT$2.38 or US$0.07 per diluted common share, and compared to net income attributable to equity holders of the Company in the first quarter of 2015 of NT$377.6 million or US$11.7 million, and NT$13.23 or US$0.41 per basic common share and NT$12.96 or US$0.40 per diluted common share.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "First quarter revenue and gross margin were in-line with expectations in a traditionally seasonally weak quarter.  We expect this to represent a trough point for 2016 quarterly revenue and our overall capacity utilization level.  Given our positive outlook and view that our shares remain undervalued, our Board of Directors authorized a new repurchase program for 15 million shares of ChipMOS Taiwan from the open market in Taiwan during the period of May 13 to July 12, 2016.  From a business standpoint, we expect to benefit starting in Q2 from a channel inventory rebuild related to the broader 4K2K TV market, and new product cycles in smartphones later in the year.  We continued to gain momentum in Q1 in our LCD driver business, led by strength for large panels.  Demand was seasonally softer from customers in our small panel LCD driver business.  In memory, we also saw a mixed performance, with commodity DRAM demand higher and Flash related revenue slightly lower.  We continue to gain traction in growth areas, with revenue in our mixed-signal business up 20.6% compared to 4Q15, and our WLCSP revenue up 71.9% compared to 4Q15. Overall, we are very optimistic about our prospects moving forward based on customer demand requirements, growth initiatives and expected improvements in the macro market.  Our planned China expansion remains central to our longer-term success.  Of note, we continue to work through the regulatory approval process related Tsinghua Unigroup's proposed investment in ChipMOS Taiwan.  While we are optimistic we will have a favorable outcome, we do not control the regulatory approval process or ultimate outcome.  Importantly, our strong balance sheet will enable us to move forward in the near-term, if we need to, by self-financing our planned China expansion in the event of any delay on Tsinghua Unigroup's investment.  In line with this, our Board of Directors authorized ChipMOS Taiwan to enter a NT$13.2 billion (approximately US$410.2 million) syndication loan agreement in order to refinance our existing credit facilities on more favorable terms and to provide additional working capital for general corporate purposes.  We expect to sign the new agreement with a syndicate of 10 Taiwan banks on May 16, 2016.  Finally, we continue to make progress in the proposed merger of ChipMOS Taiwan and ChipMOS Bermuda.  We filed our prospectus on February 26 with the U.S. Securities and Exchange Commission and filed an amendment to our prospectus on April 18.  We are hopeful that we can hold shareholder votes in 3Q16, with a targeted closure on track for later in 3Q16."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "We held gross margin at 19.3% in 1Q16 on slightly lower revenue.  Our core operating results were actually better than reported if not for the negative impact of a US$5.3 million foreign exchange loss.  We ended the first quarter with a net cash balance of US$131.9 million, after generating US$39.0 million in cash from operations, with US$35.0 million invested in CapEx, and US$14.7 million used for the repurchase of shares of ChipMOS Taiwan in 1Q16.  We plan to spend US$134 million on CapEx for the full year 2016, including approximately US$53 million for LCD driver capacity build up at our China facility.  This is part of our conservative, strategic investment approach, notwithstanding the lower utilization rate in 1Q16, which reflects seasonality.  In fact, 87% of our driver assembly and test capacity for our higher margin LCD TV business is currently being utilized.  Demand will only increase further as the market is moving to the 4K spec., which requires a significant increase in LCD driver content.  As a result, it is imperative that we continue to add capacity in order to maintain our market share and to solidify our position in China's rapidly expanding market."

Second Quarter 2016 Outlook

The Company expects revenue for the second quarter of 2016 will increase in the low single digits as compared to the first quarter of 2016. The Company expects gross margin on a consolidated basis to be in the range of approximately 17% to 21% for the second quarter of 2016.  The Company expects depreciation and amortization expenses for the second quarter of 2016 to be approximately US$26 million.  Operating expenses are expected to be approximately 8% to 11% of revenues in the second quarter of 2016.  The Company expects CapEx spending to be approximately US$36 million in the second quarter of 2016.  The total number of the Company's outstanding common shares at the end of the second quarter of 2016 is expected to be approximately 27 million.

HSINCHU, Taiwan, May 10, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of April 2016.

Revenue for the month of April 2016 was NT$1,558.8 million or US$48.3 million, a decrease of 4.1% from the month of March 2016 and a decrease of 9.0% from the same period in 2015.  All U.S. figures in this release are based on the exchange rate of NT$32.28 to US$1.00 as of April 29, 2016.\

HSINCHU, Taiwan, April 8, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of March 2016 and for the first quarter ended March 31, 2016.

Revenue for the first quarter of 2016 was NT$4,724.1 million or US$146.8 million, representing a decrease of 0.6% from the fourth quarter of 2015, and a decrease of 9.5% from the same period in 2015. This is better than the high end of the Company's guidance, to be approximately down in the low single digits, as compared to the fourth quarter of 2015. The Company also expects gross margin on a consolidated basis to be above the high end of its guidance for the first quarter of 2016, which called for gross margin to be 17% to 21%.

Revenue for the month of March 2016 was NT$1,626.0 million or US$50.5 million, an increase of 8.6% from the month of February 2016 and a decrease of 8.4% from the same period in 2015.  All U.S. figures in this release are based on the exchange rate of NT$32.18 to US$1.00 as of March 31, 2016.

HSINCHU, Taiwan, Feb. 12, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of January 2016.  The Company also confirmed that as noted in its press release on February 6, 2016, it resumed normal operations on February 6, 2016 after only a very minor impact at its manufacturing operations in the Tainan Science Park following the earthquake earlier that day.

Revenue for the month of January 2016 was NT$1,601.3 million or US$47.9 million, an increase of 1.7% from the month of December 2015 and a decrease of 10.7% from the same period in 2015.  All U.S. figures in this release are based on the exchange rate of NT$33.43 to US$1.00 as of January 29, 2016.

HSINCHU, Taiwan, Dec. 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of November 2015. 

Revenue for the month of November 2015 was NT$1,576.7 million or US$48.5 million, a decrease of 1.7% from the month of October 2015 and a decrease of 19.1% from the same period in 2014.  All U.S. figures in this release are based on the exchange rate of NT$32.53 to US$1.00 as of November 30, 2015.

Third Quarter 2015 Financial Results

Net revenue for the third quarter of 2015 was NT$4,827.1 million or US$146.4 million, a decrease of 4.8% from NT$5,069.1 million or US$153.7 million in the second quarter of 2015 and a decrease of 16.9% from NT$5,806.3 million or US$176.1 million for the same period in 2014. This is in-line with the Company's guidance, which called for revenue to decrease approximately 2% to 7%, as compared to the second quarter of 2015.

Net income for the third quarter of 2015 was NT$454.4 million or US$13.8 million, and NT$16.11 or US$0.49 per basic common share and NT$15.85 or US$0.48 per diluted common share, as compared to net income for the second quarter of 2015 of NT$72.3 million or US$2.2 million, and NT$2.54 or US$0.08 per basic common share and NT$2.49 or US$0.08 per diluted common share, and compared to net income in the third quarter of 2014 of NT$573.2 million or US$17.4 million, and NT$19.37 or US$0.59 per basic common share and NT$18.92 or US$0.57 per diluted common share. Net earnings benefitted from a US$10.0 million foreign exchange gain, or approximately US$0.35 per basic common share and US$0.35 per diluted common share.

The unaudited consolidated financial results of ChipMOS for the third quarter ended September 30, 2015 included the financial results of ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), ChipMOS U.S.A., Inc. and MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "The third quarter developed as expected with results inline with our guidance. The first half of the 2015 was stronger than the developing second half in large part due to an inventory correction in the later part of the year. Inventory continues to be digested in the channel but it will take time to get to a healthy level as LCD panel companies balance lower panel ASPs. The market situation has resulted in some idle capacity in our Taiwan facilities, which we plan to use to support demand that would have required a more immediate expansion of our Shanghai facility. We are continuing discussions around a potential expanded business venture in China but with more of a longer-term focus as we monitor the market inventory correction and existing capacity levels. This will allow management to focus our time on our ongoing corporate streamlining process. The Special Committee has made considerable progress since its formation a few months ago by the Board of Directors. Resolution of the final step in the streamlining of the Company is a top priority for both management and the Board. Overall, we continue to execute on our business strategy and our strategic goals. We anticipate that revenue for the fourth quarter, while lower sequentially, will come in better than typical Q4 seasonality, despite the market weakness, as we benefit from customer demand moving toward larger panels and higher resolution, driven by smartphones and 4K2K TVs."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "We were able to deliver an 18.1% gross margin on a consolidated basis in the third quarter on a lower revenue level, while generating US$118.7 million cash from our operations and reducing our non-GAAP net debt to equity ratio to -27.5% as of September 30, 2015 compared to -41.4% as of June 30, 2015. This is after we paid US$44.2 million in cash related to the share repurchase of ChipMOS Bermuda and ChipMOS Taiwan, after paying a US$25.5 million cash dividend in ChipMOS Taiwan, after paying a withholding tax of US$7.0 million, after a US$17.5 million debt repayment and after investing US$29.0 million in 3Q15 CapEx. Our non-GAAP EBITDA of 3Q15 was US$38.3 million, 26.2% of our revenue."

HSINCHU, Taiwan, Nov. 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of October 2015. 

Revenue for the month of October 2015 was NT$1,603.6 million or US$49.4 million, an increase of 0.1% from the month of September 2015 and a decrease of 17.4% from the same period in 2014.  All U.S. figures in this release are based on the exchange rate ofNT$32.46 to US$1.00 as of October 30, 2015.

HSINCHU, September 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of August 2015.

Revenue for the month of August 2015 was NT$1,588.6 million or US$48.9 million, a decrease of 2.9% from the month of July 2015 and a decrease of 18.7% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$32.49 to US$1.00 as of August 31, 2015.

SECOND QUARTER 2015 FINANCIAL RESULTS

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We achieved our 2Q15 revenue and gross margin targets, as we continue to benefit from our leadership in the LCD driver business, led by growth opportunities in small panel drivers. This gives us a competitive advantage and helped buffer softness in our DRAM and bumping business in the quarter. We also benefitted from growth in our non-driver IC business, including flash and wafer level chip scale package (WLCSP) businesses, which increased 7.7% and 33.8%, respectively, compared to 1Q15. As we look forward, we remain confident in our business over the long-term, despite any near-term macro weakness. We continue to benefit from strong, mutually beneficial, strategic customer relationships, and our leadership in the global LCD driver business and growth opportunities in our non-driver IC businesses."

"We continue to make substantial progress on the streamlining of our corporate structure. The latest actions included the completion of the merger of ChipMOS Taiwan, our 58% owned subsidiary, and ThaiLin on June 17, 2015. Subsequently, on July 14, 2015, our Board of Directors announced the formation of a Special Committee to review and evaluate the feasibility of a merger of the Company into ChipMOS Taiwan and to negotiate the contemplated action with ChipMOS Taiwan. We have already completed a significant amount of work in prior quarters around a potential top level compression of our structure. We are fully committed to such a top level compression, but the Board must secure third party valuations and related counsel. Other notable actions we have taken recently include our declaration of a cash dividend of US$0.14 per share payable on October 30, 2015 to all common shareholders of record at the close of business on October 16, 2015 and our Board authorized a US$25.0 million share repurchase program. The share repurchase has been accelerated and is expected to now commence five business days from the date on which ChipMOS and the broker entered into the plan, which is anticipated to be one business day after this release of our 2Q15 results to allow us to better take advantage of what see as an undervaluation of our Company in the market. In addition, the Board of Directors of ChipMOS Taiwan authorized a separate share repurchase program, under which 20 million shares are authorized to be repurchased on the Taiwan Stock Exchange, which would result in the ownership of ChipMOS in ChipMOS Taiwan increasing to approximately 58.2% from the current 58.0%. The repurchase impact will be slightly offset by a 15.7 million restricted share grant under the Company's incentive program to employees of ChipMOS Taiwan by August 31. And while our continued concrete results and actions have not yet been recognized in a higher valuation of the Company, we remain focused and will continue to strive to deliver higher than industry average revenue and net income growth, which will ultimately benefit both the Company and all shareholders."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "We generated US$93.4 million cash from our operations in 2Q15 and ended the quarter with a balance of US$475.1 million in cash and cash equivalents. Our net debt to equity ratio was -41.4% as of June 30, 2015 compared to -52.3% as of March 31, 2015, with a net cash balance of US$200.6 million as of June 30, 2015. This is after we paid US$46.8 million in cash related to the ThaiLin merger on June 17, 2015 and after investing US$22.8 million in 2Q15 CapEx. We incurred income tax expenses of US$11.7 million in Q215, which included US$7.5 million for a dividend distribution withholding tax. We also incurred a US$1.7 million foreign exchange loss in 2Q15, which led to the increase of our non-operating expenses to US$1.9 million. Overall, we continue to maintain a healthy gross margin and generate strong free cash flow levels, while investing in the customer programs and technologies that will drive our future growth, and while actively reducing our balance of outstanding debt."

Third Quarter 2015 Outlook

The Company expects revenue for the third quarter of 2015 will decrease approximately 2% to 7%, as compared to the second quarter of 2015. The Company expects gross margin on a consolidated basis to be in the range of approximately 17% to 21% for the third quarter of 2015. The Company anticipates depreciation and amortization expenses for the third quarter of 2015 to be approximately US$26 million. Operating expenses are expected to be approximately 6% to 8% of revenues in the third quarter of 2015. The Company expects CapEx spending to be approximately US$30 million in the third quarter of 2015, with CapEx spending for the full year 2015 to be less than US$125 million. The total number of the Company's outstanding common shares at the end of the third quarter of 2015 is expected to be approximately 28 million.

HSINCHU, August 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced that its Board of Directors has authorized an accelerated start of the Company's previously announced repurchase of US$25.0 million of the Company's common stock from the open market. Under the accelerated start, the repurchases are expected to begin five business days from the date on which ChipMOS and its broker enter into a plan, which is anticipated to occur one business day after the Company reports results for the second quarter of 2015 on August 11 (Taiwan). The share repurchase program will be in compliance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

The Company also announced that a second share repurchase program has been authorized by the Board of Directors of ChipMOS TECHNOLOGIES INC., ("ChipMOS Taiwan"; Taiwan Stock Exchange Ticker 8150), the Company's 58% owned subsidiary. Under the second program, 20,000,000 shares are authorized to be repurchased from the open market on the Taiwan Stock Exchange. The repurchase price is set at or below NT$41.34 with the total amount up to NT$826,800,000 (approximately US$26.5 million). The repurchase plan is authorized to run from August 11, 2015 to October 10, 2015. If all 20,000,000 shares are repurchased under the authorized program, it would result in the ownership of ChipMOS in ChipMOS Taiwan increasing to approximately 58.2% from 58.0%. The repurchase impact will be slightly offset by a 15.7 million restricted share grant under the Company's incentive program to employees of ChipMOS Taiwan by August 31.

Shares under both repurchase programs will be repurchased pursuant to a written plan agreed to and entered into between the respective Company and its broker. The plans specify the total value of shares of the Company's common stock that may be repurchased and the prices at which the repurchases may occur, subject to the terms and conditions of the plan and applicable law requirements. Purchases under the plans are subject to certain pricing parameters that depend in part upon market prices that fluctuate. Therefore, there is no guarantee as to the number of shares that may be repurchased under the plans. The repurchased shares will be subsequently retired and cancelled.

HSINCHU, August 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of July 2015.

Revenue for the month of July 2015 was NT$1,635.9 million or US$51.8 million, a decrease of 3.1% from the month of June 2015 and a decrease of 15.8% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$31.59 to US$1.00 as of July 31, 2015.

HSINCHU, July 14, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced that its Board of Directors has authorized the repurchase of US$25.0 million of the Company's common stock from the open market. The share repurchase program will be in compliance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Our latest Board authorized repurchase program reflects our confidence in ChipMOS's underlying business fundamentals and prospects for growth, and our belief that our Company's common stock represents a compelling value."

Shares under the new repurchase program will be repurchased pursuant to a written plan agreed to and entered into between the Company and its broker. The plan specifies the total value of shares of the Company's common stock that may be repurchased and the prices at which the repurchases may occur, subject to the terms and conditions of the plan and applicable law requirements.  Purchases under the plan are subject to certain pricing parameters that depend in part upon market prices that fluctuate. Therefore, there is no guarantee as to the number of shares that may be repurchased under the plan. The repurchased shares will be retired and cancelled

HSINCHU, July 14, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today declared a cash dividend of US$0.14 per share payable on October 30, 2015 to all common shareholders of record at the close of business onOctober 16, 2015.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "This will be our fourth consecutive annual dividend. Our latest dividend declaration is an efficient return of capital to our stockholders as we continue to build shareholder value. This is consistent with the Company's capital allocation strategy and is a direct reflection of the Company's financial strength."

HSINCHU, July 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of June 2015 and for the second quarter ended June 30, 2015.

Revenue for the second quarter of 2015 was NT$5,069.2 million or US$164.2 million, representing a decrease of 2.9% from the first quarter of 2015, and a decrease of 6.4% from the same period in 2014. This is in-line with the Company's guidance, which called for revenue to be flat to down in the low single digits as compared to 1Q15. The Company's guidance remains unchanged for gross margin on a consolidated basis to be in the range of approximately 20% to 24% for the second quarter of 2015.

Revenue for the month of June 2015 was NT$1,688.6 million or US$54.7 million, an increase of 1.3% from the month of May 2015 and a decrease of 6.2% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$30.88 to US$1.00 as of June 30, 2015.

HSINCHU, June 10, 2015 /PRNewswire/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of May 2015.

Revenue for the month of May 2015 was NT$1,667.7 million or US$54.1 million, a decrease of 2.6% from the month of April 2015 and a decrease of 8.8% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$30.81 to US$1.00 as of May 29, 2015.

FIRST QUARTER 2015 RESULTS 

• Net revenue for the first quarter of 2015 was NT$5,218.1 million or US$167.0 million, a decrease of 10.0% from NT$5,796.4 million or US$185.5 million in the fourth quarter of 2014 and an increase of 4.6% from NT$4,989.0 million or US$159.7 million for the same period in 2014.
• Net income for the first quarter of 2015 was NT$377.6 million or US$12.1 million, and NT$13.23 or US$0.42 per basic common share and NT$12.96 or US$0.42 per diluted common share, as compared to net income for the fourth quarter of 2014 of NT$589.1 million or US$18.8 million, and NT$20.31 or US$0.65 per basic common share and NT$19.88 or US$0.64 per diluted common share, and compared to net income in the first quarter of 2014 of NT$331.1 million or US$10.6 million, and NT$11.14 or US$0.36 per basic common share and NT$10.87 or US$0.35 per diluted common share.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "The first quarter developed as expected and was in-line with our prior guidance. This is normally a seasonal lower quarter for the industry, with the volumes typically ramping as we move into the second half of the year. Demand strength continued for large panels in our LCD driver business, which was offset by seasonally softer demand in our small panel LCD drivers and in memory products. In memory, revenue in our DRAM business, led by softness in commodity DRAM demand, decreased 12.6% in the first quarter compared to the prior quarter. Our flash business, including Mask ROM, declined approximately 27.0% over prior quarter. Revenues from mixed-signal and gold bumping remained flat. One bright spot was our WLSCP revenue, which grew 10.9% in the first quarter compared to the fourth quarter. Reflecting the seasonally lower demand level, our overall capacity utilization rate declined to 72% in the first quarter compared to 81% in the prior fourth quarter and 77% in the same period last year. Based on our outlook, we expect weakness from the first quarter to carry over to the second quarter. We will continue to act conservatively with regards to our inventory management, CapEx spending and our operating expenses. This is evidenced by our commitment and success at lowering our debt levels and fortifying our cash position and balance sheet. We remain optimistic about our business focus and growth strategy, our CapEx plan and our continued corporate streamlining initiatives."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "The positive operating leverage in our business is seen by our gross margin which held at 23.3% on the lower quarterly revenue. We ended the first quarter with US$518.4 million in cash and cash equivalents, after generating US$66.2 million in cash from operations. As a result, we improved our net debt to equity ratio to -52.3% as of March 31, 2015 compared to -50.8% at the end of 2014, with a net cash balance of US$244.8 million as of March 31, 2015. This is after we reduced our net debt by another US$7.1 million during the first quarter and after US$32.3 million of CapEx in the quarter. On April 22, 2015, all of the necessary regulatory approvals for ThaiLin merger were rendered with no further comments. The effective date of ThaiLin merger is expected to be on June 17, 2015. This gives us added confidence as we move through the year, and pursue both corporate growth opportunities and catalysts around our restructuring efforts that can build further shareholder value."

HSINCHU, May 8, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of April 2015. The Company will hold a conference call with investors and analysts on Monday, May 11 at 7:00 p.m. Eastern Time (7:00 a.m. Taiwan time, Tuesday, May 12, 2015) to discuss its first quarter 2015 financial results and management's outlook for the second quarter 2015. The news release announcing the first quarter 2015 results will be disseminated after the NASDAQ market close on Monday, May 11.

Revenue for the month of April 2015 was NT$1,712.9 million or US$55.9 million, a decrease of 3.5% from the month of March 2015 and a decrease of 4.0% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$30.64 to US$1.00 as of April 30, 2015.

HSINCHU, April 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of March 2015 and for the first quarter ended March 31, 2015.

Revenue for the first quarter of 2015 was NT$5,218.1 million or US$167.0 million, representing a decrease of 10.0% from the fourth quarter of 2014, and an increase of 4.6% from the same period in 2014. This is in-line with the Company's guidance, which called for revenue to decrease approximately 8% to 12%, as compared to 4Q14. 1Q15 revenue reflects seasonality in LCD driver for small panels and memory products. The Company's guidance remains unchanged for gross margin on a consolidated basis to be in the range of approximately 21% to 24% for the first quarter of 2015.

Revenue for the month of March 2015 was NT$1,775.2 million or US$56.8 million, an increase of 7.5% from the month of February 2015 and an increase of 2.0% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$31.24 to US$1.00 as of March 31, 2015.

FOURTH QUARTER AND FULL YEAR 2014 RESULTS

HSINCHU, March 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of February 2015. The Company will hold a conference call with investors and analysts on Thursday, March 12 at 7:00 p.m. Eastern Time (7:00 a.m. Taiwan time, Friday, March 13, 2015) to discuss its fourth quarter 2014 financial results and management's outlook for the first quarter 2015. The news release announcing the fourth quarter 2014 results will be disseminated after the NASDAQ market close on Thursday, March 12.

Revenue for the month of February 2015 was NT$1,650.7 million or US$52.6 million, a decrease of 7.9% from the month of January 2015 and an increase of 1.4% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$31.41 to US$1.00 as of February 26, 2015.

HSINCHU, February 10, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of January 2015.

Revenue for the month of January 2015 was NT$1,792.2 million or US$56.4 million, a decrease of 5.9% from the month of December 2014 and an increase of 10.5% from the same period in 2014. All U.S. figures in this release are based on the exchange rate of NT$31.75 to US$1.00 as of January 30, 2015.

HSINCHU, January 30, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today announced that it has signed a Letter of Intent to cooperate on the development of new equipment and process automation with Tokyo Seimitsu Co., Ltd. ("ACCRETECH") at ChipMOS's Tainan fab.

Under the agreement, ACCRETECH will be responsible for the equipment design and manufacturing. This is expected to include, but will not be limited to, probers for wafer testing and wafer dicing equipment. ChipMOS will provide engineering resources for development, testing and evaluation of the jointly-developed new equipment and production lines.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Today's strategic agreement further builds upon our existing relationship, which started more than 15 years ago. By working in partnership together we believe we can ultimately decrease production costs, enhance production efficiency and increase our already strong respective competitive positions."

HSINCHU, Taiwan, Jan. 9, 2015 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of December 2014 and for the fourth quarter ended December 31, 2014.

Revenue for the fourth quarter of 2014 was NT$5,796.5 million or US$183.4 million, representing a decrease of 0.2%, as compared to the third quarter of 2014, and an increase of 18.5% from the same period in 2013.  This is at the high-end of the Company's guidance, which called for revenue to be flat to down in the low single digits, as compared to the third quarter of 2014.  The Company expects gross margin on a consolidated basis to be in the range of approximately 23% to 26% for the fourth quarter of 2014.

Revenue for the month of December 2014 was NT$1,905.5 million or US$60.3 million, a decrease of 2.2% from the month of November 2014 and an increase of 16.6% from the same period in 2013.  All U.S. figures in this release are based on the exchange rate ofNT$31.60 to US$1.00 as of December 31, 2014.

HSINCHU, December 30, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today announced that the required greater than 50% of shareholders of both ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan") and ThaiLin Semiconductor Corp. ("ThaiLin") have voted in person or by proxy to approve the proposed merger of the two ChipMOS' subsidiaries (the "Merger"). The respective special general meetings were held on December 30, 2014.

As detailed in the Company's press release November 12, 2014, the Board of Directors at ChipMOS, ChipMOS Taiwan and ThaiLin have also approved the proposed Merger. Under the terms and conditions of the Merger Agreement, ThaiLin's shareholders will be offered a combination of NT$12.5 in cash and 0.311 of one ChipMOS Taiwan share in exchange for each ThaiLin common share held. On consummation of the proposed Merger, ThaiLin will be merged with ChipMOS Taiwan. ChipMOS Taiwan will continue as the surviving merged entity and is expected to remain listed on the TWSE trading under its current stock ticker "8150".

Completion of the Merger is expected to occur in June 2015 and is further subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement and the receipt of approvals from relevant Republic Of China governing authorities, including but not limited to the Fair Trade Commission, Financial Supervisory Commission, Taiwan Stock Exchange ("TWSE") and Gre Tai Securities Market. The Company intends to work with all parties to satisfy conditions set forth in the Merger Agreement in order to complete the Merger.

The proposed merger of the two subsidiaries is the latest development in the Company's ongoing efforts to streamline its corporate and financial structure in order to better maximize potential efficiencies and to further build shareholder value. Upon consummation, the merged entity would become a 58% owned subsidiary of ChipMOS TECHNOLOGIES (Bermuda) LTD.

HSINCHU, Dec. 10, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of November 2014.

Revenue for the month of November 2014 was NT$1,948.6 million or US$62.9 million, an increase of 0.3% from the month of October 2014 and an increase of 20.2% from the same period in 2013.  The Company noted it continues to expect 4Q 2014 to come in stronger than the seasonal norm led by growth in its DRAM, LCD driver businesses and mixed-signal businesses.  Based on reported revenue for the months of October and November of 2014, the Company now expects to come in at the high-end of its prior guidance, which called for 4Q 2014 revenue to be flat to down in the low single digits, as compared to 3Q 2014. The Company continues to expect gross margin on a consolidated basis will be in the range of approximately 23% to 26% for 4Q 2014.  All U.S. figures in this release are based on the exchange rate of NT$30.99 to US$1.00 as of November 28, 2014.

THIRD QUARTER 2014 FINANCIAL RESULTS

• Net Revenue Increased 7.3% to US$190.7 Million from US$177.8 Million
• Net Earnings of US$0.64 Per Basic Common Share and US$0.62 Per Diluted Common Share Compared to US$0.19 Per Basic Common Share and US$0.18 Per Diluted Common Share

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."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "We generated an additional US$18.5 million of free cash flow from our operations. This was after we invested US$20.4 million of CapEx in the third quarter of 2014, as we work to meet increased customer demand levels and improve efficiencies, including working to remove a bottleneck at our LCD driver testing and bumping segments. Our operating expenses were US$13.9 million or 7.3% of our Q3 revenue compared to US$15.7 million or 8.8% of revenue for Q2. We ended the quarter with a strong balance of cash and cash equivalents at US$470.4 million, and a net cash position of US$215.6 million. Our net debt to equity ratio remained healthy at negative 46.8%, as of September 30, 2014. Our total debt increased by US$50.6 million to US$254.8 million at the end of Q314, reflecting the strategic drawdown of US$197.1 million from our new credit facility to replace an older long-term loan, which resulted in overall lower interest expenses in the quarter. The non-controlling interests for the third quarter of 2014 increased to US$14.0 million as compared to US$9.4 million in Q214, primarily due to an increase of US$12.9 million in net income before tax at ChipMOS Taiwan in Q314 compared to Q214. We remain focused on smart growth, being a reliable partner for quality, critical OSAT services, and executing our longer-term capacity roadmap, in order to deliver consistent financial results, with further improvement to our balance sheet and shareholder value."

HSINCHU, November 13, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced that its Board of Directors has authorized the repurchase of US$15.0 million of the Company's common stock from the open market. The share repurchase program will be in compliance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Our latest Board authorized repurchase program reflects our confidence in ChipMOS's underlying business fundamentals and prospects for growth. The Board and management believe our Company's common stock represents a compelling value. Further, the repurchase program is consistent with the Company's capital allocation strategy and our efforts to build shareholder value."

Shares under the new repurchase program will be repurchased pursuant to a written plan agreed to and entered into between the Company and its broker. The plan specifies the total value of shares of the Company's common stock that may be repurchased and the prices at which the repurchases may occur, subject to the terms and conditions of the plan and applicable law requirements. Purchases under the plan are subject to certain pricing parameters that depend in part upon market prices that fluctuate. Therefore, there is no guarantee as to the number of shares that may be repurchased under the plan. The repurchased shares will be retired and cancelled.

HSINCHU, November 10, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of October 2014.

Revenue for the month of October 2014 was NT$1,942.4 million or US$63.8 million, an increase of 1.8% from the month of September 2014 and an increase of 18.8% from the same period in 2013. All U.S. figures in this release are based on the exchange rate of NT$30.45 to US$1.00 as of October 31, 2014.

HSINCHU, October 9, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of September 2014 and third quarter ended September 30, 2014.

Revenue for the third quarter of 2014 was NT$5,806.3 million or US$190.7 million, representing an increase of 7.3% as compared to the second quarter of 2014 and an increase of 13.6% from the same period in 2013. This is above the high-end of the Company's guidance, which called for revenue to increase by approximately 3% to 7% as compared to the second quarter of 2014. The Company expects gross margin on a consolidated basis to be at the high-end of its prior guidance range of approximately 23% to 26% for the third quarter of 2014.

Revenue for the month of September 2014 was NT$1,908.4 million or US$62.7 million, a decrease of 2.3% from the month of August 2014 and an increase of 13.5% from the same period in 2013. All U.S. figures in this release are based on the exchange rate of NT$30.44 to US$1.00 as of September 30, 2014.

HSINCHU, September 10, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of August 2014, and commented on its outlook for the third quarter of 2014.

Revenue for the month of August 2014 was NT$1,954.0 million or US$65.4 million, an increase of 0.5% from the month of July 2014 and an increase of 14.1% from the same period in 2013. All U.S. figures in this release are based on the exchange rate of NT$29.88 to US$1.00 as of August 29, 2014.

Based on continued strong customer demand in both the Company's LCD driver IC and memory segments, the Company now expects revenue and gross margin on a consolidated basis for the third quarter of 2014 will be at the high end of the Company's original guidance. On August 12, 2014, the Company provided guidance that it expected revenue of third quarter of 2014 to increase in the range of approximately 3% to 7% as compared to the second quarter of 2014, with gross margin on a consolidated basis to be in the range of approximately 23% to 26% for the third quarter of 2014.

HSINCHU, September 3, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced that it has completed its previously announced repurchase of 1,000,000 shares from Siliconware Precision Industries Co., Ltd. ("SPIL"). Pursuant to the previously announced Share Purchase Agreement ("SPA") ChipMOS, repurchased the shares at the price of US$22.39 per share.

The shares, representing 3.3% of ChipMOS's total outstanding shares, will now be cancelled, which will reduce ChipMOS's total shares outstanding to approximately 28.8 million, as compared to 29.8 million on June 30, 2014. Based on June 30, 2014 shareholding information, SPIL will continued to hold 1,243,749 shares or 4.2% ownership of ChipMOS, and 132,775,000 shares or 15.4% ownership of ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), which is listed on the Taiwan Stock Exchange under Stock Ticker 8150.

Under the SPA executed by ChipMOS and SPIL, the purchase price of the shares was determined by the arithmetic mean of the closing price of the Company's Common Stock traded on the NASDAQ over twenty (20) consecutive trading days prior to the preceding fifth trading day of the Closing Date multiplied by zero point nine three (0.93), reflecting a seven percent (7%) discount.

HSINCHU, Aug. 14, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced entry into a Share Purchase Agreement ("SPA") for repurchase of 1,000,000 shares or 3.3% ownership of outstanding shares of ChipMOS held by Siliconware Precision Industries Co., Ltd. ("SPIL").  The SPA is for the repurchase transaction disclosed in the Company's August 12, 2014 press release.

Subject to fulfillment of certain condition precedents, the repurchase of the shares is expected to be consummated before September 30, 2014.  After the repurchase transaction, ChipMOS anticipates it will have approximately 28.8 million outstanding shares, as compared to 29.8 million based on number of shares outstanding as at June 30, 2014.

Under the SPA executed by ChipMOS and SPIL, the purchase price of the shares will be determined by the arithmetic mean of the closing price of the Company's Common Stock traded on the NASDAQ over twenty (20) consecutive trading days prior to the preceding fifth day of the Closing Date multiplied by zero point nine three (0.93), reflecting a seven percent (7%) discount.

SECOND QUARTER 2014 FINANCIAL RESULTS

• Net Revenue Increased 8.5% to US$181.2 Million from US$167.0 Million
• Net Earnings of US$0.19 Per Basic Common Share and US$0.19 Per Diluted Common Share Compared to US$0.37 Per Basic Common Share and US$0.36 Per Diluted Common Share

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Our results for the first half of 2014 have been above seasonal norms and at the high-end of our outlook. We expect our momentum to continue entering the third quarter and our near-term outlook remains positive. Our strong performance was driven by our differentiated end market exposure, customer alignment within our target markets and rationalized capacity. We are not seeing the inventory digestion or overhang that has slowed others in the OSAT sector, which focus on other end markets and customers. We continue to leverage our successful integrated assembly and test business strategy. This helped us further improve gross margin to 23.6% in the quarter. As an indication of our sustained business momentum, our overall utilization rate held steady at 77% -- even after we expanded our assembly capacity by approximately 17% and expanded our bumping capacity by approximately 11%."

"In terms of our market exposure, our memory business in the second quarter benefitted from stronger customer demand. We expect this business momentum will continue in second half of 2014. Demand in our LCD driver business softened slightly entering June, which resulted in the lower utilization of our LCDD capacity and also impacted our revenue in the second quarter. We expect demand in the LCDD business will improve led by the growth in UHD TVs (4K/2K TVs). We remain one of Top 2 largest OSAT providers in the LCDD business and continue to supplement our capacity and capabilities where possible to support our existing customers and new opportunities. Overall, we maintain a very positive near term outlook based on increased demand levels from both existing and new customers. As we have been running near full capacity, our Board of Directors has authorized an upward revision of our full year 2014 CapEx budget to approximately US$110 million from approximately US$80 million prior. We believe our existing facilities can accommodate the additional equipment over the near term needed to meet the higher demand levels for DRAM assembly and LCD driver, including bumping. We are also exploring options to accommodate higher capacity levels over the longer-term, including the potential addition of a new facility, given customers' growth expectations. Any such measure would be incremental to the approximately US$110 million CapEx budget for 2014. We are concurrently executing on our previously stated corporate initiatives, including the successful listing of our subsidiary, ChipMOS Taiwan, onto the Taiwan Stock Exchange on April 11, 2014. While we are not able to provide a timetable for next steps given the sensitivity and fluidity of the situation, we will update the market as material events occur. Overall, our goals remain unchanged, to deliver consistent growth, while focusing on further improving our profitability and building shareholder value."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "We generated an additional US$7.4 million of free cash flow from our operations after capital spending of US$26.6 million in the second quarter of 2014. Our operating expenses were US$15.9 million or 8.8% of our Q2 revenue compared to US$13.0 million or 7.8% of revenue for Q1. The slight increase is related to support of our higher revenue level and the accrual of salary increases. We ended the quarter with a strong balance of cash and cash equivalents at US$453.9 million, and a net cash position of US$245.8 million. Income tax provision for Q2 was US$8.5 million compared to US$8.7 million in Q1. The non-controlling interests for Q2 increased to US$9.6 million from US$4.8 million in Q1. On July 2, 2014, we put in place a NT$10 billion credit facility with favorable terms to re-finance our existing long-term debt and maintain a financial flexibility in support of general corporate purposes. This type of favorable opportunity is the direct result of our consistent financial performance and strong balance sheet. We remain focused on smart growth, being a reliable partner for quality, critical OSAT services, and executing our longer-term capacity roadmap, in order to deliver consistent financial results, with further improvement to our balance sheet and shareholder value."

Third Quarter 2014 Outlook

The Company expects revenue of third quarter of 2014 to increase approximately 3% to 7% as compared to the second quarter of 2014. The Company expects gross margin on a consolidated basis to be in the range of approximately 23% to 26% for the third quarter of 2014. The Company expects depreciation and amortization expenses for the third quarter of 2014 to be approximately US$25 million. Operating expenses are expected to be approximately 6% to 8% of revenues in the third quarter of 2014. The Company expects CapEx spending in support of existing customer demand to be approximately US$24 million in the third quarter of 2014, with CapEx spending for the full year 2014 to be approximately US$110 million. The total number of the Company's outstanding common shares at the end of the third quarter of 2014 is expected to be approximately 29 million.

HSINCHU, August 13, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today declared an annual cash dividend of US$0.14 per share payable on October 30, 2014 to all common shareholders of record at the close of business on October 16, 2014.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "This represents our third annual dividend. Our latest dividend declaration is consistent with the Company's capital allocation strategy and is a direct reflection of the Company's financial strength. We continue to develop and expand on our existing business, invest in longer-term strategic growth opportunities, and build shareholder value."

HSINCHU, August 13, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced that its Board of Directors has approved the repurchase of 1,000,000 shares or 3.3% ownership of outstanding shares of ChipMOS held by Siliconware Precision Industries Co., Ltd. ("SPIL"). Based on June 30, 2014 shareholding information, upon consummation of the proposed repurchase transaction, SPIL would hold 1,243,749 shares or 4.2% ownership of ChipMOS and 132,775,000 shares or 15.4% ownership of ChipMOS TECHNOLOGIES INC.

ChipMOS anticipates that it will enter into a Share Purchase Agreement with SPIL prior to the end of August, 2014. The transaction is expected to be consummated before the end of September, 2014. '

HSINCHU, August 13, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services, announced today that its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan") (TSE: 8150), has signed a purchase agreement to acquire 19% of JMC Electric Corporation, Ltd. ("JMC"), which is 100% owned by Chang Wah Electromaterial Inc. ("CWE"). The non-material, all cash transaction is expected to close by the end of August, 2014.

JMC is a leading provider of flexible organic substrate for LCD driver semiconductors, known as chip-on-film ("COF") tape, with manufacturing technology that originated from Sumitomo Metal Mining Co., Ltd., Japan ("Sumitomo"). JMC currently has capacity of 36 million pieces per month for COF tape, with plans to expand capacity to 50 million pieces per month in 2015. Based in the Nan-Tzu Export Processing Zone, Kaohsiung, Taiwan, JMC's operation is approximately 45 kilometers from ChipMOS' Tainan fab in Southern Taiwan.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We are pleased to partner with CWE on this strategic opportunity. Our LCD driver business has undergone rapid growth and remains a key driver of our Company's improved profitability and success. In the past, we have not provided COF tape for our LCDD assembly services, as customers typically consign COF tape to us. This strategic investment will further strengthen our position in providing services to our customers in LCD driver segment given the market growth expectations for ultra-high definition or UHD TV demand. If our customers face supply constraints, we will be able to help alleviate the material shortage. This transaction is in-line with our business strategy, profitability targets and ongoing efforts to expand upon our differentiated end market exposure and customer alignment within our target markets."

HSINCHU, August 8, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of July 2014.

Revenue for the month of July 2014 was NT$1,943.9 million or US$64.7 million, an increase of 8.0% from the month of June 2014 and an increase of 13.2% from the same period in 2013. All U.S. figures in this release are based on the exchange rate of NT$30.06 to US$1.00 as of July 31, 2014.

HSINCHU, August 4, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services, today confirmed that none of its employees were harmed nor were the Company's manufacturing operations impacted by the recent gas explosion in Kaohsiung, Taiwan, which is approximately 30 miles from ChipMOS' Taiwan fab.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Our thoughts are with the families of those suffering from the loss of or injury to loved ones, and to the countless others impacted by this deadly gas pipeline explosion."

HSINCHU, July 9, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of June 2014 and second quarter ended June 30, 2014.

Revenue for the month of June 2014 was NT$1,799.7 million or US$60.3 million, a decrease of 1.6% from the month of May 2014 and an increase of 4.7% from the same period in 2013, primarily reflecting softness from the second half of June in the Company's LCD Driver business for both small and large panels. On a quarterly basis, revenue for the second quarter of 2014 was NT$5,413.4 million or US$181.2 million, an increase of 8.5% from the first quarter of 2014 and an increase of 9.6% from the same period in 2013. Second quarter 2014 revenue is in-line with the Company's guidance, which called for revenue to increase by approximately 8% to 12% as compared to the first quarter of 2014. The Company expects gross margin on a consolidated basis to be at the high-end of its prior guidance range of approximately 21% to 24% for the second quarter of 2014. All U.S. figures in this release are based on the exchange rate of NT$29.87 to US$1.00 as of June 30, 2014.

HSINCHU, July 2, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS") (Nasdaq: IMOS) announced today that its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan") (TSE: 8150), has secured two new credit lines (collectively, the "Credit Facility") from a syndicate of eleven Taiwan banks. The first credit line is a NT$6.0 billion (approximately US$197 million), five-year, floating rate, secured, non-revolving credit line. The second is a NT$4.0 billion (approximately US$131 million) unsecured, floating rate, revolving credit line. ChipMOS Taiwan expects to use the proceeds from the Credit Facility to refinance its existing bank debt and for general corporate purposes.

Bank of Taiwan acted as sole lead manager of the syndicate, which included Taiwan Cooperative Bank, Land Bank of Taiwan, Yuanta Bank, Taishin International Bank, Hua Nan Commercial Bank, First Commercial Bank, TC Bank, Chang Hwa Bank, Bank of Panhsin, and Shin Kong Bank. Mr. S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, and representatives from the bank syndicate were present at the signing ceremony held in head offices of Bank of Taiwan in Taipei, Taiwan.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We appreciate the continued support of our bank syndicate. The new Credit Facility allows ChipMOS Taiwan to refinance its existing debt obligations on more favorable financial terms, while maintaining financial flexibility in support of general corporate purposes. The Company's strong financial health, differentiated market position and continued growth opportunities were all strong factors that combined to bring us this latest opportunity."

HSINCHU, June 10, 2014 /PRNewswire/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of May 2014.

Revenue for the month of May 2014 was NT$1,828.7 million or US$60.9 million, an increase of 2.4% from the month of April 2014and an increase of 11.1% from the same period in 2013. All U.S. figures in this release are based on the exchange rate ofNT$30.01 to US$1.00 as of May 30, 2014.

FIRST QUARTER 2014 FINANCIAL RESULTS

• Net revenue for the first quarter of 2014 was NT$4,989.0 million or US$163.8 million, an increase of 2.0% from NT$4,890.1 million or US$160.6 million in the fourth quarter of 2013 and an increase of 12.9% from NT$4,420.7 million or US$145.2 million for the same period in 2013.
• Net income for the first quarter of 2014 was NT$331.1 million or US$10.9 million, and NT$11.14 or US$0.37 per basic common share and NT$10.87 or US$0.36 per diluted common share, as compared to net income for the fourth quarter of 2013 of NT$170.8 million or US$5.6 million, and NT$5.77 or US$0.19 per basic common share and NT$5.63 or US$0.18 per diluted common share, and compared to net income in the first quarter of 2013 of NT$363.6 million or US$11.9 million, and NT$12.58 or US$0.41 per basic common share and NT$12.31 or US$0.40 per diluted common share.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We started the year off with first quarter revenue growth in a normally seasonally lower quarter. Strength in our LCD driver and our memory markets helped us achieve first quarter 2014 revenue at the high-end of the Company's guidance. Revenue from DRAM, mainly niche DRAM, increased 16.3% in Q1'14 sequentially and our WLSCP revenue grew 20.8% in Q1 compared to Q4'13. Our overall capacity utilization rate improved to 77% compared to 76% in Q4'13 and 75% in the same period one year ago. We are optimistic about the future for ChipMOS given the Company's market leadership, optimized customer base and our financial strength. We are executing on our business strategy and have numerous catalysts for profitable growth. We expect to see continued momentum in 2014, led by robust demand in our LCD driver and memory demand in mobile applications and UHD TVs."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "Our business mix and improved utilization allowed us to drive further improvements in gross margin to 19.8% in the first quarter. We expect to achieve further improvements in gross margin in the second quarter, led by our business momentum, improved utilization and overall conservative CapEx strategy. We exited the first quarter with a strong balance of cash and cash equivalents at US$404.2 million, with free cash flow of US$12.0 million in Q1 2014 after CapEx of US$18.7 million in the first quarter. Our total debt was reduced by another US$44.5 million to US$203.5 million, which in turn improved our net debt to equity ratio to -44.0% as of March 31, 2014. The increase in consolidated income taxes for the first quarter is due to the higher amount paid by ThaiLin for the gain recognized on the share sales related to the Company's efforts in enabling ChipMOS Taiwan to meet the listing eligibility requirements for Taiwan Stock Exchange ("TWSE") and our consolidated income tax rate will revert to a normalized level in the second quarter of 2014."

HSINCHU, May 9, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of April 2014.

Revenue for the month of April 2014 was NT$1,785.0 million or US$59.2 million, an increase of 2.6% from the month of March 2014 and an increase of 13.4% from the same period in 2013.  All U.S. figures in this release are based on the exchange rate ofNT$30.16 to US$1.00 as of April 30, 2014.

HSINCHU, April 10, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services ("OSAT"), today reported its unaudited consolidated revenue for the month of March 2014 and first quarter ended March 31, 2014.

Revenue for the month of March 2014 was NT$1,740.0 million or US$57.1 million, an increase of 6.9% from the month of February 2014 and an increase of 7.9% from the same period in 2013. On a quarterly basis, revenue for the first quarter of 2014 was NT$4,989.0 million or US$163.8 million, an increase of 2.0% from the fourth quarter of 2013 and an increase of 12.9% from the same period in 2013. First quarter 2014 revenue came in at the high-end of the Company's guidance, which called for revenue to be flat to up in the low single digits as compared to the fourth quarter of 2013, led by healthy demand from the LCD driver and memory market for both mobile applications and UHD TVs. All U.S. figures in this release are based on the exchange rate of NT$30.45 to US$1.00 as of March 31, 2014.

HSINCHU, April 3, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services, today announced that ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), its 62.1% owned subsidiary, priced its previously announced share subscription at a price of NT$26.5 per common share (approximately US$0.88 per common share).

20 million common shares are being sold in an underwritten public offering, with Yuanta Securities Company, Limited is acting as the book-running manager and Capital Securities Corp. acting as the co-manager for the initial public offering. Pursuant to the Taiwan listing process, ChipMOS Taiwan is issuing 18.5 million new common shares, while 1.5 million shares are being offered by certain shareholders. Under applicable Taiwan laws, an additional 3.3 million new common shares have been reserved as incentive for the purchase by employees under managerial level of ChipMOS Taiwan.

ChipMOS Taiwan intends to use the proceeds from the sale of the 21.8 million new common shares in this offering for general corporate purposes, including supporting potential growth opportunities. The offering is expected to close on April 9, 2014.

Following the subscription process and when listed on the main board of Taiwan Stock Exchange ("TWSE"), ChipMOS Taiwan is expected to have 864.6 million shares outstanding. The Company would own approximately 522.1 million or 60.4% of the shares outstanding after the commencement of trading on the main board of TWSE.

Information on and related to the ChipMOS Taiwan's listing application has been disclosed in the Company's earlier announcements on its March 18, April 12, April 18, May 10, August 26, October 8 and November 27, 2013 and January 28, March 11, March 28 and April 1, 2014 press releases.

HSINCHU, April 1, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and testing services, today announced that ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), its 62.1% owned subsidiary, is expected to commence share trading on the main board of Taiwan Stock Exchange ("TWSE") on April 11, 2014 under stock ticker 8150.

ChipMOS Taiwan shares are currently listed on the Gre Tai Securities Market under Stock Ticker 8150 and will continue trading until April 10, 2014. The shares would then be transferred to the main board of TWSE and continue trading on April 11, 2014, without interruption to any trading activities.

In addition, the 20 million shares being placed in the subscription process announced on March 28, 2014 and 3.3 million new shares to be purchased by employees included in ChipMOS Taiwan's Initial Public Offering, would also commence trading on the TWSE on April 11, 2014. Following the subscription process and when listed on the TWSE, ChipMOS Taiwan is expected to have 864.6 million shares outstanding. The Company would own approximately 522.1 million or 60.4% of the shares outstanding after the commencement of trading on the main board of TWSE.

Information on and related to the ChipMOS Taiwan listing application has been disclosed in Company's earlier announcements on its March 18, April 12, April 18, May 10, August 26, October 8 and November 27, 2013 and January 28, March 11 and March 28, 2014 press releases.

HSINCHU, March 28, 2014 /PRNewswire/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq:IMOS), an industry leading provider of outsourced semiconductor assembly and testing services, today announced that the underwriters of ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), a 62.1% owned subsidiary of ChipMOS, have commenced the share subscription process with a reference price range of NT$25 to NT$28 per share.  20 million shares are expected to be offered in the subscription process, comprised of 18.5 million primary shares and 1.5 million secondary shares. The amount of 18.15 million shares will be allocated for institutional investors and the subscription period commenced today will end on April 2, 2014.  The Company also expects the public subscription process for individual investors of up to 1.85 million shares to commence on March 31, 2014 and to end on April 2, 2014 with a price cap of NT$28 per share.

The target listing date of ChipMOS Taiwan on the main board of Taiwan Stock Exchange ("TWSE") is April 11, 2014 and the listing price of ChipMOS Taiwan will be determined by April 3, 2014.  Additional details, including the actual listing date and the actual listing price of ChipMOS Taiwan on the TWSE will be announced when available.

Fourth Quarter 2013 Financial Results

• Net revenue for the fourth quarter of 2013 was NT$4,890.1 million or US$163.9 million, a decrease of 4.3% from NT$5,111.9 million
• Net income for the fourth quarter of 2013 was NT$170.8 million or US$5.7 million, and NT$5.77 or US$0.19 per basic common share and NT$5.63 or US$0.19 per diluted common share, as compared to net income for the third quarter of 2013 of NT$442.5 million or US$14.8 million, and NT$14.97 or US$0.50 per basic common share and NT$14.60 or US$0.49 per diluted common share, and compared to net income in the fourth quarter of 2012 of NT$133.4 million or US$4.5 million, and NT$4.72 or US$0.16 per basic common share and NT$4.60 or US$0.15 per diluted common share.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "2013 was a year of impressive improvements in our revenue mix, gross margin and overall profitability. Our efforts have led to the strong free cash flow and balance sheet needed to support continued growth opportunities. We remain very positive on our higher margin LCD driver and assembly business, and have added confidence based on the stability in the other segments we serve. We are well positioned to take advantage of further growth and will support our customers through a conservative CapEx strategy, with the expected backdrop of stable pricing and higher utilization levels. We are also excited about some proprietary technology process improvements that should help reduce the cost of materials, while maintaining the high yield levels that ChipMOS is known for. From a structural standpoint, we achieved numerous key milestones, including the listing of our subsidiary, ChipMOS Taiwan, on the Taiwan Emerging Board on April 19, 2013. ChipMOS Taiwan subsequently submitted its listing application to the TSE in November, and in order for ChipMOS Taiwan to meet listing eligibility requirements, we eliminated the previous cross-holding structure by repurchasing shares of the Company held in ThaiLin. We are pleased with our continued progress and expect to build on our business momentum in 2014 to the benefit of the Company, and our shareholders as they benefit from our improved performance, streamlined organizational structure, expected TSE listing, our share repurchase program and dividends we have distributed."

First Quarter 2014 Outlook

Led by expected healthy demand from the LCD driver and memory market for both mobile applications and UHD TVs, the Company expects first quarter of 2014 revenue to be flat to up in the low single digits as compared to the fourth quarter of 2013. The Company expects gross margin on a consolidated basis to be in the range of approximately 17% to 21% for the first quarter of 2014. The Company anticipates depreciation and amortization expenses for the first quarter of 2014 to be approximately US$25 million. Operating expenses are expected to be approximately 6% to 8% of revenues in the first quarter of 2014. The Company expects CapEx spending to be approximately US$23 million in the first quarter of 2014, with CapEx spending for the full year 2014 to be less than US$80 million. The total number of the Company's outstanding common shares at the end of the first quarter of 2014 is expected to be approximately 30 million.

(NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of February 2014. The Company will hold a conference call with investors and analysts tomorrow at 8:00 a.m. Eastern Time (8:00 p.m. Taiwan time, Tuesday, March 11, 2014) to discuss its fourth quarter 2013 financial results and management's outlook for the first quarter 2014. The news release announcing the fourth quarter 2013 results will be disseminated prior to the NASDAQ market open tomorrow.

Revenue for the month of February 2014 was NT$1,627.3 million or US$53.7 million, an increase of 0.3% from the month of January 2014 and an increase of 20.1% from the same period in 2013. All U.S. figures in this release are based on the exchange rate of NT$30.29 to US$1.00 as of February 28, 2014.

HSINCHU, January 16, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced that it has closed the second tranche of its previously announced share repurchase from its subsidiary, ThaiLin Semiconductor Corporation ("ThaiLin"). Pursuant to pricing agreement, 2,093,705 shares were repurchased at the price of US$17.79 per share by ChipMOS, with the shares cancelled immediately after the repurchase. This follows the November 26, 2013 repurchase of 2,000,000 shares by ChipMOS from ThaiLin at the price of US$15.60 per share. In total, ChipMOS has now repurchased the full 12.2% ownership position in ChipMOS from ThaiLin.

The purchase price of the shares at each of the Closings was determined by the arithmetic mean of the closing prices of the Company's Common Stock traded on the NASDAQ over the twenty (20) consecutive trading days prior to the preceding fifth day of each of the First Closing Date and the Second Closing Date multiplied by zero point nine three (0.93), reflecting a seven percent (7%) discount. Each of the Closings was subject to the purchase price of the shares falling within a range of US$13.00 per share to US$19.92 per share.

The Company's outstanding share count is expected to remain approximately 30 million because the 4.1 million shares repurchased from ThaiLin were previously treated as treasury shares and not included in the Company's share count.

HSINCHU, January 10, 2014 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of December 2013 and fourth quarter ended December 31, 2013.

Revenue for the month of December 2013 was NT$1,634.1 million or US$54.8 million, an increase of 0.8% from the month of November 2013 and an increase of 5.8% from the same period in 2012. On a quarterly basis, revenue for the fourth quarter of 2013 was NT$4,890.1 million or US$163.9 million, a decrease of 4.3% from the third quarter of 2013 and an increase of 0.5% from the same period in 2012. Fourth quarter of 2013 revenue came in at the high-end of the Company's guidance, which called for revenue to decrease by approximately 4% to 8%, as compared to the third quarter of 2013, reflecting the impact of normal seasonality, along with inventory adjustments at a limited number of customers. All U.S. figures in this release are based on the exchange rate of NT$29.83 to US$1.00 as of December 31, 2013.

HSINCHU, November 21, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services, today announced that its Board of Directors has approved the repurchase of 12.2% ownership position in ChipMOS from the Company's subsidiary, ThaiLin Semiconductor Corporation ("ThaiLin"). Following the Board's approval, a Share Purchase Agreement was executed by ChipMOS and ThaiLin for the Company's repurchase of the 4.1 million shares held by ThaiLin.

The repurchase of the shares is expected to be consummated at two closings (the "Closings"). The repurchase of a portion of the shares (2,000,000 shares) is expected to take place on or around November 26, 2013 (the "First Closing Date"). The second closing for the remaining shares (2,093,705 shares) is expected to take place on or before January 31, 2014 (the "Second Closing Date").

The purchase price of the shares at each of the Closings will be determined by the arithmetic mean of the closing prices of the Company's Common Stock traded on the NASDAQ over the twenty (20) consecutive trading days prior to the preceding fifth day of each of the First Closing Date and the Second Closing Date multiplied by zero point nine three (0.93), reflecting a seven percent (7%) discount. Each of the Closings will be subject to the purchase price of the shares falling within a range of US$13.00 per share to US$19.92 per share.

The Company's outstanding share count is expected to remain approximately 30 million after the consummation of the Closings because the 4.1 million shares held by ThaiLin subject to the sale and repurchase have been treated as treasury shares and not included in the Company's share count.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "This is another significant step forward for us in our efforts to streamline our corporate structure. The benefits of our successful business execution and strategic planning are clearly seen in our strong financial results and momentum. We continue to focus on both near and long-term initiatives to help secure the Company's future and to help increase the valuation and return for shareholders."

Third Quarter 2013 Financial Results

• Net Revenue Increased 3.5% to US$172.9 Million from US$167.1 Million
• Net Earnings of US$0.51 Per Basic Common Share and US$0.49 Per Diluted Common Share Compared to US$0.42 Per Basic Common Share and US$0.41 Per Diluted Common Share

We remain confident in our business strategy and growth prospects but do expect to see the impact of typical seasonality in 4Q13 on both our large and small panel LCD businesses. We would expect this to be followed by a resumption of growth in the 1Q14. At the same time, we continue to make significant progress in the Taiwan listing application for our majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. (Gre Tai Securities Market: Ticker 8150) ("ChipMOS Taiwan"), including the recent sale of its shares to meet ownership guidelines of the Taiwan Stock Exchange ("TSE"). We expect shareholders to benefit from our ongoing actions as we work to achieve a higher market valuation."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "The leverage of our business is clearly evidenced in our results.

Fourth Quarter 2013 Outlook

The Company expects fourth quarter of 2013 revenue to be approximately 4% to 8% lower than the third quarter of 2013, reflecting the impact of normal seasonality, along with inventory adjustments at a limited number of customers. The Company expects gross margin on a consolidated basis to be in the range of approximately 16% to 20% for the fourth quarter of 2013. The Company anticipates depreciation and amortization expenses for the fourth quarter of 2013 to be approximately US$26 million. Operating expenses are expected to be approximately 6% to 8% of revenues in the fourth quarter of 2013. The Company expects CapEx spending to be approximately US$41 million in the fourth quarter of 2013, with CapEx spending for the full year 2013 to be approximately US$122 million, as it pulls in CapEx that was previously planned for the first half of 2014 in support of growth programs. This acceleration is expected to result in full year 2014 CapEx coming in lower at approximately US$70 million. The total number of the Companys outstanding common shares at the end of the fourth quarter of 2013 is expected to be approximately 30 million.

HSINCHU, November 8, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of October 2013.

Revenue for the month of October 2013 was NT$1,635.5 million or US$55.6 million, a decrease of 2.7% from the month of September 2013 and a decrease of 4.4% from the same period in 2012. All U.S. figures in this release are based on the exchange rate of NT$29.42 to US$1.00 as of October 31, 2013.

HSINCHU, October 9, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of September 2013 and third quarter ended September 30, 2013.

Revenue for the month of September 2013 was NT$1,681.1 million or US$56.9 million, a decrease of 1.9% from the month of August 2013 and an increase of 1.8% from the same period in 2012. On a quarterly basis, revenue for the third quarter of 2013 was NT$5,111.9 million or US$172.9 million, an increase of 3.5% from the second quarter of 2013 and a decrease of 0.5% from the same period in 2012. Revenue for the third quarter of 2013 is in-line with the Company's guidance that revenue was expected to increase by approximately 2% to 6%, as compared to the second quarter of 2013. All U.S. figures in this release are based on the exchange rate of NT$29.56 to US$1.00 as of September 30, 2013.

HSINCHU, Oct. 8, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today announced the completion of its sale of 180 million outstanding common shares of its subsidiary, ChipMOS TECHNOLOGIES INC. (Gre Tai Securities Market: Ticker 8150) ("ChipMOS Taiwan"), at the price of NT$20.0 (US$0.67) per common share.  Approximately 22 million common shares of ChipMOS Taiwan were purchased by the Company's management and the Board of Directors.  

The transactions were completed on October 3, 2013.  Pursuant to the terms of certain share purchase agreements, 50% of the total shares purchased from the Company are subject to a lock-up obligation and the remaining 50% became freely tradable on October 4, 2013.  Yuanta Securities Company Limited served as the sole bookrunner for these transactions.

In aggregate, the sale reduces the Company's ownership in ChipMOS Taiwan to approximately 523.4 million common shares, representing approximately 62.1% of the outstanding shares of ChipMOS Taiwan, from a previous holding of approximately 83.5%.

As communicated in prior press releases, the Company was required to reduce its ownership interest to no more than 70% of ChipMOS Taiwan's outstanding shares to satisfy eligibility requirements for listing ChipMOS Taiwan on the Taiwan Stock Exchange.  Shares purchased by the Company's management and the Board of Directors are not included for purposes of meeting the foregoing ownership requirement

HSINCHU, September 10, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of August 2013.

Revenue for the month of August 2013 was NT$1,713.1 million or US$57.2 million, a decrease of 0.3% from the month of July 2013 and a decrease of 1.6% from the same period in 2012. All U.S. figures in this release are based on the exchange rate of NT$29.93 to US$1.00 as of August 30, 2013.

HSINCHU, August 26, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced that with the assistance of its underwriters, Yuanta Securities Company Limited and Capital Securities Corp., it plans to sell approximately 170 million outstanding common shares of its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. (Gre Tai Securities Market: Ticker 8150) ("ChipMOS Taiwan"), at the proposed price of NT$20.0 (US$0.67) per common share.

In aggregate, the sale would represent approximately 20.2% of the outstanding shares of ChipMOS Taiwan. This would reduce the Company's ownership to approximately 533.3 million ChipMOS Taiwan common shares, representing approximately 63.3% of the outstanding shares of ChipMOS Taiwan, from approximately 83.5%.

As discussed in previous Company press releases, as part of satisfying eligibility requirements for listing ChipMOS Taiwan on the Taiwan Stock Exchange ("TSE"), the Company is required to reduce its current ownership interest to no more than 70% of ChipMOS Taiwan's outstanding shares.

The proposed sale would be through transactions with certain potential investors. The Company expects that these transactions will close around mid-October, 2013. The Company will make a formal announcement upon the completion of the proposed sale.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of ChipMOS or of ChipMOS Taiwan, nor shall there be any sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Second Quarter 2013 Financial Results

All U.S. dollar figures in this release are based on the exchange rate of NT$29.96 against US$1.00 as of June 28, 2013.

• Net revenue for the second quarter of 2013 was NT$4,939.2 million or US$164.9 million, an increase of 11.7% from NT$4,420.7 million or US$147.6 million in the first quarter of 2013 and an increase of 2.3% fromNT$4,829.3 million or US$161.2 million for the same period in 2012.
• Net income for the second quarter of 2013 was NT$358.5 million or US$12.0 million, and NT$12.28 or US$0.41per basic common share and NT$12.00 or US$0.40 per diluted common share, as compared to net income for the first quarter of 2013 of NT$363.6 million or US$12.1 million, and NT$12.58 or US$0.42 per basic common share and NT$12.31 or US$0.41 per diluted common share, and compared to net income in the second quarter of 2012 of NT$291.4 million or US$9.7 million, and NT$10.67 or US$0.36 per basic common share andNT$10.36 or US$0.35 per diluted common share.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "This was another strong quarter for us. We believe that we continue to outperform the industry due to our differentiated end market exposure and customer alignment within our target markets. Our second quarter results further reflect the success of our integrated assembly and test business strategy, as our overall utilization rate reached 79%. Demand is so strong in our LCD driver business that our Board of Directors has authorized an increase in our FY13 CapEx budget, allowing us to pull-in 6 months of planned CapEx investments from FY14. The strategic decision to increase our CapEx now is due in part to strong customer demand and end production requirement for UHD TVs (4K/2K TVs), Smartphones and Tablet PCs. We expect that preparing additional capacity earlier than planned will allow us to capture new growth opportunities we are seeing in our higher margin LCD driver business from both existing and new customers."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "We generated US$13.0 million of free cash flow in Q2, and ended the quarter with a strong balance of cash and cash equivalents at US$370.1 million. This is after Q2 CapEx of US$25.7 million. As a result, we improved our net cash position to US$59.4 million and improved our net debt to equity ratio to -14.1% as of June 30, 2013. Our short-term loan balance increased to US$46.8 millionfrom US$12.5 million in 1Q13 as we partially drew down credit lines denominated in U.S. dollars to deploy a hedge position to offset currency volatility. We remain focused on balancing customer capacity demands and planned demand levels, with our objective of further strengthening our market position, and improving profitability and our balance sheet strength."

Third Quarter 2013 Outlook

The Company expects revenue for third quarter of 2013 to increase by approximately 2% to 6%, as compared to the second quarter of 2013. The Company expects gross margin on a consolidated basis to be in the range of approximately 16% to 20% for the third quarter of 2013. The Company anticipates depreciation and amortization expenses for the third quarter of 2013 to be approximately US$27 million. Operating expenses are expected to be approximately 6% to 7% of revenues in the third quarter of 2013. The Company expects CapEx spending to be approximately US$38 million in the third quarter of 2013, with CapEx spending for the full year 2013 to be approximately US$128 million. The total number of the Company's outstanding common shares at the end of the third quarter of 2013 is expected to be approximately 30 million.r. Cheng continued, "We continue to gain visibility as our customers become more certain in their operating plans for the rest of 2013 and remain confident in our outlook. We expect a further improvement in demand in our LCD driver business, including bumping services, in second half of 2013. We expect to see continued growth as capacity use is led by new applications in the mobile consumer space, many of which require longer test times."

HSINCHU, August 9, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month of July 2013.

Revenue for the month of July 2013 was NT$1,717.7 million or US$57.2 million, a decrease of 0.1% from the month of June 2013 and a decrease of 1.7% from the same period in 2012. All U.S. figures in this release are based on the exchange rate of NT$30.03 to US$1.00 as of July 31, 2013.

HSINCHU, July 10, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month and quarter ended June 30, 2013.

Revenue for the month of June 2013 was NT$1,718.5 million or US$57.4 million, an increase of 4.4% from the month of May 2013 and an increase of 5.5% from the same period in 2012. On a quarterly basis, revenue for the second quarter of 2013 was NT$4,939.2 million or US$164.9 million, an increase of 11.7% from the first quarter of 2013 and an increase of 2.3% from the same period in 2012. Revenue for the second quarter of 2013 is in-line with the Company's guidance that revenue was expected to increase by approximately 10% to 14%, as compared to the first quarter of 2013. The Company expects gross margin on a consolidated basis for the second quarter of 2013 to be approximately 15.5%, as compared to guidance of approximately 14% to 18%. Revenue growth and gross margin improvement reflect continued strength in the Company's LCD Driver and bumping businesses, with additional demand for assembly services. All U.S. figures in this release are based on the exchange rate of NT$29.96 to US$1.00 as of June 28, 2013.

HSINCHU, Taiwan, June 10, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month of May 2013.

Revenue for the month of May 2013 was NT$1,646.6 million or US$55.0 million, an increase of 4.6% from the month of April 2013 and an increase of 1.7% from the same period in 2012.  All U.S. figures in this release are based on the exchange rate of NT$29.93 toUS$1.00 as of May 31, 2013.

First Quarter 2013 Financial Results

• Net Revenue Decreased 9.2% to US$148.3 Million from US$163.3 Million
• Gross Profit Decreased to US$20.7 Million from US$25.8 Million
• Gross Margin Declined to 13.9% from 15.8%
• Net Earnings of US$0.42 Per Basic and US$0.41 Per Diluted Share Compared to US$0.26 Per Basic and US$0.25 Per Diluted Share

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "First quarter revenue and gross margin came in at the high-end of prior guidance. We delivered a 64% improvement in net earnings per diluted share, and drove further balance sheet improvements. Results reflect the strength of our underlying business, and favorable customer and product mix, as we were able to improve our overall utilization rate to 75% and lessen the impact of typical seasonality related to Chinese New Year and normal customer demand patterns. Finally, shares of our subsidiary, ChipMOS Taiwan, commenced trading on Taiwan's emerging stock board of Gre Tai Securities Market under stock code 8150 on April 19, 2013. We will continue to work towards satisfying the eligibility requirements for listing ChipMOS Taiwan onto the Taiwan Stock Exchange ("TSE") in the second quarter of 2014."

HSINCHU, Taiwan, May 10, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month of April 2013.

Revenue for the month of April 2013 was NT$1,574.1 million or US$53.3 million, a decrease of 2.4% from the month of March 2013and a decrease of 0.5% from the same period in 2012.  All U.S. figures in this release are based on the exchange rate of NT$29.52 to US$1.00 as of April 30, 2013.

HSINCHU, Oct. 26, 2012 /PRNewswire/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today announced the pricing of an underwritten public offering of 2,500,000 of its common shares at a price of US$10.10 per share. 1,700,000 common shares are being offered by Company shareholder ThaiLin Semiconductor Corp. ("ThaiLin"), a subsidiary of ChipMOS, and 800,000 common shares are being offered by Company shareholder Siliconware Precision Industries Co., Ltd. ("Siliconware Precision"). In addition, the underwriters have an option to purchase up to an additional 300,000 shares from ThaiLin. ThaiLin will receive the proceeds from its sale of ChipMOS' common shares in this offering. ChipMOS will not receive any of the proceeds from the sale of shares by Siliconware Precision. The offering is expected to close on or about October 31, 2012, subject to satisfaction of customary closing conditions.

HSINCHU, Oct. 15, 2012 /PRNewswire/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month and quarter ending September 30, 2012.

Unaudited consolidated revenue for the third quarter of 2012 was NT$5,139.9 million or US$175.5 million, an increase of 6.4% from the second quarter of 2012 and an increase of 15.2% from the third quarter of 2011.  For the third quarter of 2012 unaudited consolidated revenue was in-line with prior guidance for growth of approximately 4% to 8%, as compared to the second quarter of 2012.  Unaudited consolidated revenue for the month of September 2012 was NT$1,651.2 million or US$56.4 million, a decrease of 5.1% from the month of August 2012 and an increase of 5.8% from the same period in 2011.  All U.S. figures in this release are based on the exchange rate of NT$29.29 to US$1.00 as of September 28, 2012.

The Company expects unaudited gross margin on a consolidated basis for the third quarter of 2012 to be approximately 18.5%, as compared to original guidance for approximately 12% to 18%, increased from the gross margin of 12.8% for 2Q'12 and 8.6% for 3Q'11.

Fourth Quarter of 2012 Business Outlook

The Company expects consolidated revenue for the fourth quarter of 2012 to be approximately flat to 5% lower, as compared to the third quarter of 2012, reflecting continued growth in its LCD driver and flash memory testing businesses, offset by continued broader softness in the memory market, which is decreasing the Company's commodity DRAM assembly business.  The Company expects gross margin on a consolidated basis for the fourth quarter of 2012 to be in the range of approximately 14% to 19%.

HSINCHU, Sept. 14, 2012 /PRNewswire/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month of August 2012.

Revenue for the month of August 2012 was NT$1,740.6 million or US$58.3 million, a decrease of 0.4% from the month of July 2012 and an increase of 18.1% from the same period in 2011.  All U.S. figures in this release are based on the exchange rate of NT$29.87 to US$1.00 as of August 31, 2012.

HSINCHU, Aug. 20, 2012 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced it would effect a new US$10 million share repurchase program in compliance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

The Company's Board of Directors on August 10, 2012 authorized the management to commence evaluation of a new share repurchase plan to replace the existing share repurchase plan adopted in November 2011.  The existing share repurchase plan will be terminated effective August 20, 2012. Information on the existing share repurchase plan was disclosed on Company's press release dated November 18, 2011.

Under the new share repurchase plan, shares will be repurchased pursuant to a written plan agreed to and entered into between the Company and its broker.  The plan specifies the total value of shares of the Company's common stock that may be repurchased and the prices at which the repurchases may occur, subject to the terms and conditions of the plan and applicable law requirements.  Purchases under the plan are subject to certain pricing parameters that depend in part upon market prices that fluctuate.  Therefore there is no guarantee as to the number of shares that may be repurchased under the plan. The repurchased shares will be retired and cancelled.

This press release, to be filed on Form 6-K, will be hereby incorporated by reference into the registration statements on Form F-3 of the Company (File Nos. 333-181367) and will be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

HSINCHU, Aug. 17, 2012 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month of July 2012.

Revenue for the month of July 2012 was NT$1,748.1 million or US$58.4 million, an increase of 7.4% from the month of June 2012 and an increase of 22.5% from the same period in 2011.  All U.S. figures in this release are based on the exchange rate of NT$29.91 to US$1.00 as of July 31, 2012.

SUGAR LAND, TX--(Marketwire - Jul 18, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Leading miner and fertilizer producer The Mosaic Company (NYSE:MOS) (Plymouth, Minnesota) reported mixed results for the company's fiscal 2012 fourth quarter and full year, as the quarter saw stronger potash prices but weakened phosphate prices. Lower sales volumes in the Potash segment and higher raw material costs in the Phosphate segment wore away at full-year earnings. Net earnings were reported to be $507.3 million for the quarter, a 78.14% decrease from the fourth quarter of fiscal year 2011, and $1.93 billion for the year, a 23.24% decrease from fiscal 2011.

HSINCHU, July 13, 2012 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month and quarter ending June 30, 2012.

Revenue for the month of June 2012 was NT$1,628.4 million or US$54.6 million, an increase of 0.6% from the month of May 2012 and an increase of 6.7% from the same period in 2011. On a quarterly basis, revenue for the second quarter of 2012 was NT$4,829.3 million or US$162.1 million, an increase of 10.2% from the first quarter of 2012 and an increase of 3.4% from the same period in 2011. This is in line with the Company's prior guidance for expected revenue growth of approximately 7% to 12% for the second quarter 2012, as compared to the first quarter of 2012. The Company continues to expect a further improvement in gross margin on a consolidated basis in the range of approximately 10% to 15% for the second quarter of 2012. All U.S. figures in this release are based on the exchange rate of NT$29.80 to US$1.00 as of June 29, 2012.

HSINCHU, Taiwan, June 25, 2012 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS) today announced that its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), and Spansion Inc. (NYSE: CODE) have extended their wafer sort services agreement started in April 2010, through April 2014.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We are proud to have forged a strong relationship with Spansion, a true industry leader. We have the capacity in place to ensure a continued seamless supply chain relationship and maintain the highest quality levels."

"ChipMOS has consistently met our stringent quality control, process and service requests and we look forward to continuing to partner with them to meet our customer requirements," said Pierre Claverie, senior vice president of supply chain and operations at Spansion.

HSINCHU, June 14, 2012 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today announced its Board of Directors has adopted a dividend policy.  The dividend policy is the first in the Company's history.  Certain actions required to declare dividends under the policy will be submitted for approval by our shareholders at the Company's Annual General Meeting ("AGM") in August 2012.

The dividend policy would permit the Company to distribute an annual dividend to shareholders from retained earnings equal to 0.8% to 1.2% of the Company's book value (approximately US$0.10 to US$0.15 per share at April 30, 2012).  Declaring dividends under the policy is subject to the Company's assessment of its operating plans and market conditions at that time, and its ability to maintain compliance with all applicable regulatory and financial criteria, including passing a solvency and asset test, as required by the Companies Act 1981 of Bermuda (as amended). 

HSINCHU, June 14, 2012 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month of May 2012.

Revenue for the month of May 2012 was NT$1,619.3 million or US$54.2 million, an increase of 2.4% from the month of April 2012 and a decrease of 0.8% from the same period in 2011.  All U.S. figures in this release are based on the exchange rate of NT$29.87 to US$1.00 as of May 31, 2012.

HSINCHU, April 16, 2012 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month and quarter ending March 31, 2012.

Revenue for the month of March 2012 was NT$1,513.0 million or US$51.3 million, an increase of 6.0% from the month of February 2012 and a decrease of 3.4% from the same period in 2011.  On a quarterly basis, revenue for the first quarter of 2012 was NT$4,384.0 million or US$148.6 million, a decrease of 4.9% from the fourth quarter of 2011 and a decrease of 1.9% from the same period in 2011. This is in line with guidance the Company provided in its press release on March 16, 2012 for revenue in the first quarter of 2012 to be approximately flat-to-down in the single digits as compared to the fourth quarter of 2011, as continued strength in its LCD driver business was not expected to offset typical seasonality and expected softness in its DRAM and flash testing business.  The Company remains very optimistic about its business prospects for 2012 and longer-term based on existing customer forecasts.  All U.S. figures in this release are based on the exchange rate of NT$29.50 to US$1.00 as of March 30, 2012.

HSINCHU, April 10, 2012 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS) announced today that its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), won a public court bidding process, allowing it to purchase an existing building for approximately US$10.1 million.  The building is located directly across ChipMOS's existing facility in Southern Taiwan Science Park and features approximately 393,173 square feet of floor space.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "This was a perfect opportunity for us to add needed manufacturing floor space.  The fact that the new building is located literally across the street from our existing facility opens up new options to us in how we deploy our manufacturing resources and personnel.  Customers and partners will also have added confidence in ChipMOS given our commitment of efficiently supporting their roadmaps and their increased demand levels.  Importantly, this is a very attractive transaction for us from a financial standpoint." 

Fourth Quarter 2011 Results

• 
  Net revenue on a US GAAP basis for the fourth quarter of 2011 was NT$4,608.8 million or US$152.3 million, an increase of 6.6% from NT$4,322.6 million or US$142.8 million for the same period in 2010 and an increase of 3.3% from NT$4,461.5 million or US$147.4 million in the third quarter of 2011.
• Net income on a US GAAP basis for the fourth quarter of 2011 was NT$29.1 million or US$1.0 million, and NT$1.08 or US$0.04 per basic common share and NT$1.07 or US$0.04 per diluted common share.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We are pleased to report that we exited 2011 with increased momentum in our revenue and profitability growth, an improved financial position, and positive business prospects. We believe that our strategic focus on higher revenue and higher margin opportunities helped drive this growth, and helped us to further strengthen our balance sheet. We ended 2011 with US$243.1 million in cash and cash equivalents, after having reduced total debt by US$134.5 million in 2011. We believe that we have firmly established ChipMOS as one of the industry's most important outsourced semiconductor assembly and testing services companies. We are aggressively focused on building on our position in key markets, including our LCD assembly and test business and are highly optimistic for the Company's prospects in 2012. We continue to expect revenue growth of approximately 10% in 2012."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "Gross profit for the full year 2011 increased to US$52.8 million compared to US$19.0 million in 2010. For the full year 2011, our blended utilization rate was 75%, with an increase to 72% in 4Q11 compared to 68% in the same period 2010. The improvement reflects the considerable growth in our LCD driver segment, which was up 25% for the full year 2011 compared to 2010, representing 22% of total revenue in 2011 compared to 19% in 2010. The growth in our bumping segment was also significant, which was up 48% for the full year 2011 compared to 2010, representing 13% of total revenue in 2011 compared to 9% in 2010. Our balance of cash and cash equivalents was improved to US$243.1 million as of December 31, 2011, compared to US$236.0 million as of December 31, 2010. We reduced the Company's total debt by US$134.5 million in 2011, resulting in an improvement of our net debt to equity ratio to 22.6% as of December 31, 2011 compared to 66.8% at the end of 2010. Finally, we have repurchased approximately 47,100 shares valued at approximately US$362.0 thousand under our share repurchase program as of March 15, 2012. With a continued disciplined business and capital expense strategy, we expect to generate positive free cash flow for the full year 2012."

First Quarter 2012 Outlook

Mr. Cheng continued, "We expect continued strength in our LCD driver business but not enough in the first quarter to offset typical seasonality and expected softness in our DRAM and flash testing business. As a result, we currently expect revenue in the first quarter of 2012 to be approximately flat-to-down in the single digits as compared to the fourth quarter of 2011, with gross margin on a consolidated basis in the range of approximately 4.0% to 9.0%. We remain very optimistic about our business prospects for 2012 and longer-term based on existing customer forecasts. To meet higher customer demand levels in our LCD driver business, our Board has approved a strategic investment to build a 16,000 wafer/month capacity of 12-inch gold bump manufacturing facility and an 8,000 wafer/month capacity of 12-inch copper bump manufacturing facility. Demand for copper bumping capabilities continues to increase given the cost benefit to customers. We expect to have the new capacity operating by the second half of 2012. This will allow us to capture additional growth opportunities in related LCD driver IC and WLCSP (Wafer Level Chip Scale Package) business, smartphone and tablet PC applications."

Third Quarter 2011 Results

• Net revenue on a US GAAP basis for the third quarter of 2011 was NT$4,461.5 million or US$146.5 million, a decrease of 4.5% from NT$4,671.0 million or US$153.4 million in the second quarter of 2011 and a decrease of 5.4% from NT$4,717.2 million or US$154.9 million for the third quarter 2010.
• Net income on a US GAAP basis for the third quarter of 2011 was NT$139.8 million or US$4.6 million, and NT$5.19 or US$0.17 per basic and NT$5.11 or US$0.17 per diluted common share, compared to net loss of NT$4.1 million or US$0.1 million, and NT$0.15 or US$0.01 per basic and diluted common share, for the second quarter of 2011 and a net income of NT$51.0 million or US$1.6 million, and NT$1.99 or US$0.06 per basic and NT$1.55 or US$0.05 per diluted common share for the third quarter of 2010.

Since our inception, we have funded our operations and growth primarily through the issuance of equity, a mixture of short- and long-term loans and cash flow from operations.

We believe our current cash and cash equivalents, cash flow from operations and available credit facilities will be sufficient to meet our capital spending and other capital needs through the end of 2011. Our significant amount of indebtedness and interest expense will limit our cash flow and could adversely affect our operations”. 

HSINCHU,July 14, 2011 /PRNewswire-Asia-FirstCall/ --ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS") (Nasdaq: IMOS) announced today that its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), has signed a NT$8.4 billion (approximately US$292 million) non-revolving credit line (the "Credit Facility")  with a syndicate of thirteen Taiwan banks.  The maximum five-year, floating rate Credit Facility will be secured by existing land and plant and equipment owned by ChipMOS Taiwan. Together with existing available cash of NT$1.0 billion (approximately US$34.8 million) and the proceeds from the Credit Facility, ChipMOS Taiwan will primarily target to refinance its existing bank debt and equipment leases. Under the Credit Facility, ChipMOS Taiwan has covenanted to (i) fully draw down the facility within six (6) months of the execution of the Credit Facility; (ii)make repayments on semi-annual installments pursuant to a repayment schedule; (iii) maintain certain financial ratios relating to its liquidity, interest payment and debt financing levels; (iv) maintain a repayment reserve account for the term of the Credit Facility with deposit in the account to be equivalent to at least two (2) installments of interest payment under the Credit Facility; and (v) make penalty-free advance repayments subject to certain terms and conditions as set out under the Credit Facility.

Taiwan Cooperative Bank, Bank of Taiwan and Land Bank of Taiwan acted as co-lead managers of the syndicate, which included Mega International Commercial Bank, Hua Nan Commercial Bank, First Commercial Bank, Taishin International Bank, Chang Hwa Bank, Yuanta Bank, Bank of Panhsin, JihSun Bank, Shin Kong Bank, and EnTie Bank. Mr. S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, and representatives from the bank syndicate were present at the signing ceremony held in Hsinchu, Taiwan.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We appreciate the continued support of our bank syndicate in reaching this latest agreement. Proceeds from the credit line will be used immediately, combined with cash of NT$1.0 billion (US$34.8 million) on our balance sheet, to fully refinance our existing debt obligations on more favorable financial terms. This is another important step in our ongoing efforts to strengthen our financial position, while continuing to provide excellent and reliable test and assembly services to ChipMOS customers."

HSINCHU, July 6, 2011 /PRNewswire-Asia-FirstCall/ --ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced that its majority-owned Taiwanese subsidiary, ChipMOS TECHNOLOGIES INC., ("ChipMOS Taiwan"), has agreed to invest in CONNECTEC JAPAN Corporation ("CTJ") for a 30% equity stake of CTJ pursuant to a share subscription agreement dated July 4, 2011.

On the same day, the Company and CTJ have also entered into a technology transfer agreement ("Technology Agreement") in which, ChipMOS Taiwan receives exclusive perpetual license for certain intellectual property rights from CTJ.  Under the Technology Agreement, ChipMOS Taiwan and CTJ will jointly develop package and assembly technologies targeting existing and future market opportunities and better meet its customer requirements.

CTJ is a corporation focused on the development of next generation semiconductor package and foundry technologies. Its proprietary technology was developed to increase efficiency and yield of LCD driver assembly processes and to extend inner lead bonding process capability to below 20um.

Katsunori Hirata, President of CONNECTEC JAPAN Corporation, commented, "This is a milestone event for us. With ChipMOS becoming a major equity holder and agreeing to adopt and jointly enhance our technology, we welcome a committed, industry leading partner to help bring our proprietary technologies into mass production.  We are excited to be working closely with ChipMOS in the future and together to develop more efficient and sophisticated semiconductor packaging technology."

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "After carefully evaluating CTJ's technology, management and roadmap, we were so impressed by CTJ's achievements and capabilities that we agreed to take an equity stake in CTJ.  Its next generation technology will allow ChipMOS to gain a competitive advantage by adopting technology improvements as we continuously work to lower process costs for our operations. Importantly, our agreement will pave the way to innovative, future advanced technology development."

HSINCHU, June 17, 2011 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today reported its unaudited consolidated revenue for the month of May 2011.

Revenue for the month of May 2011 was NT$1,633.0 million or US$57.0 million, an increase of 8.1% from the month of April 2011 and an increase of 6.0% from the same period in 2010. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$28.64 against US$1.00 as of May 31, 2011.)

First Quarter Results:

• Net revenue on a US GAAP basis for the first quarter of 2011 was NT$4,469.6 million or US$152.0 million, an increase of 3.4% from NT$4,322.6 million or US$147.0 million in the fourth quarter of 2010 and an increase of 21.7% from NT$3,671.5 million or US$124.9 million for the first quarter 2010. 
• non-GAAP adjusted net loss for the first quarter of 2011 was NT$55.6 million or US$1.8 million, and NT$2.16 or US$0.07 per basic common share, compared to non-GAAP adjusted net income of NT$1,360.6 million or US$46.3 million, and NT$52.93 or US$1.80 per basic common share in the fourth quarter of 2010

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "Our first quarter revenue and gross margin results are in line with expectations, with net revenue at nearly 22% higher on a year over year basis and improving gross margins of 7.6% in Q1 2011 as compared to 5.9% in Q4 2010.  Demand in our LCD driver business, including gold bumping, and assembly services for niche/mobile DRAM and flash, remained strong through the end of the quarter.  This strength was led by increased demand for serving applications, including hard disc drives, tablet computers and smartphones, where our average capacity utilization increased to approximately 77% in 1Q11.  We are fortunate to note that our supply chain has remained insulated from disruptions caused by the terrible earthquake and tsunami in March 2011, and our thoughts continue to be with the people of Japan and our partners there."

The Company expects single digit revenue growth for the second quarter 2011 as compared to the first quarter of 2011, while maintaining gross margin on a consolidated basis in the range of 7.0% to 12.0%.

HSINCHU, April 18, 2011 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (NASDAQ: IMOS) today reported its unaudited consolidated revenue for the month and quarter ending March 31, 2011. The Company, while continuing to express its concern for the people of Japan, confirmed that it has not had nor does it expect any supply disruptions following Japan's earthquake and tsunami in March.

On a quarterly basis, revenue for the first quarter of 2011 was NT$4,469.6 million or US$152.0 million, an increase of 3.4% from the fourth quarter of 2010 and an increase of 21.7% from the same period in 2010.

Fourth Quarter Highlights:

• Net revenue on a US GAAP basis for the fourth quarter of 2010 was NT$4,322.6 million or US$148.3 million, an increase of 20.4% from NT$3,589.8 million or US$123.2 million for the same period in 2009
• non-GAAP adjusted net income for the fourth quarter of 2010 was NT$1,360.6 million or US$46.7 million, and
• NT$52.93 or US$1.82 per basic common share and US$1.67 per diluted common share.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We are pleased to report that we achieved the goals we set out for 2010, including implementing a disciplined business strategy based on high-revenue opportunities whilst simultaneously improving our financial position and generating positive cash assertively. We ended the year on a high note, with a year-over-year increase in net revenue of 41.6% and net income for the full-year 2010 of US$2.28 per diluted common share as compared to a net loss of US$8.12 per diluted common share in 2009.  We have clearly re-established ChipMOS as one of the industry's most important outsourced semiconductor assembly and testing services companies.  We are aggressively focused on building on our growth momentum and are highly optimistic for the Company's prospects in 2011."

Mr. Cheng continued, "The first quarter of the year is typically impacted by seasonal weakness.  With the rebound in our business, however, and our focus on an increased number of higher margin opportunities, we currently expect that revenue for the first quarter of 2011 will increase by approximately 1% to 7%, as compared to the fourth quarter 2010.  

HSINCHU, Feb. 23, 2011 /PRNewswire-Asia/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. today announced that its majority-owned Taiwanese subsidiary, ChipMOS TECHNOLOGIES INC., will receive approximately US$11.6 million in the sale of its idle, non-core assets, including six sets of Advantest T5377 and Advantest T5377S Memory Test Systems, respectively, and a building located in Hsinchu Science Park, Taiwan.

The idle test equipments and building have been sold to third parties unrelated to the Company.  Payments of the respective objects have been evenly split into two tranches.  The first payment was made before end of January 2011 and the second payment is scheduled to be made by the end of March 2011.  Proceeds from the sales will be used to further pay down ChipMOS Taiwan's bank debt.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "These sales are part of our ongoing goal to enhance asset efficiency and efforts to have our asset profile match our business strategy as we continue to improve our financial position.  We are already seeing the benefits of reducing our commodity DRAM. By focusing on higher margin business opportunities, ChipMOS is positioned to recapture its growth momentum."

January Revenue:

• Revenue for the month of January 2011 was NT$1,548.8 million or US$53.4 million, an increase of 1.9% from the month of December 2010 and an increase of 24.5% from the same period in 2010. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$29.03 against US$1.00 as of January 31, 2011.)

HSINCHU, Jan. 31, 2011 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. today announced its early repayment in full, through its free cash flow, of its US$74.5 million syndication loan.   

The three-year floating rate facility of US$74.5 million was provided by nine Taiwanese banks and was fully guaranteed by Company's majority-owned Taiwanese subsidiary, ChipMOS TECHNOLOGIES INC.  The Company's request for early repayment of the remaining outstanding principal balance of US$22.1 million and the accrued interest due March 2011 was approved by the bank syndicate without penalty.  The repayment was made on January 31, 2011.  This facility was used to finance part of the repurchase requests of the Company's 3.375% Convertible Senior Notes due 2011 (the "2006 Notes") in 2008. US$78.7 million of the original US$100.0 million 2006 Notes was repurchased when investors exercised their repurchase rights in 2008.  US$2.3 million remains outstanding and will be redeemed on its maturity date in September 2011, if not converted by the noteholders.