Paying attention is actual: ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS)

On 11 May 2020, ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS) changed 0.19% to recent value of $21.56. The stock transacted 11925 shares during most recent day however it has an average volume of 19.27K shares. It spotted trading -13.17% off 52-week high price. On the other end, the stock has been noted 54.87% away from the low price over the last 52-weeks.

ChipMOS TECHNOLOGIES INC. (IMOS) recently stated unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2019. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.91 against US$1.00 as of December 31, 2019.

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

Revenue for the fiscal year ended December 31, 2019 was NT$20,337.9M or US$680.0M, a raise of 10.1% from NT$18,480.0M or US$617.9M for the fiscal year ended December 31, 2018.  Net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2019 was NT$2,584.2M or US$86.4M, and NT$3.55 or US$0.12 per basic ordinary share, contrast to net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2018 was NT$1,103.1M or US$36.9M, and NT$1.37 or US$0.05 per basic ordinary share. Net earnings for the fiscal year ended December 31, 2019 were US$2.38 per basic ADS, contrast to US$0.92 per basic ADS for the fiscal year ended December 31, 2018.

S.J. Cheng, Chairman and President of ChipMOS, stated, “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 yearly revenue growth since 2015.  We also achieved meaningful improvements in profitability, reporting net earnings of NT$3.55 per basic ordinary 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 consumers 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 contrast 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$200.4M generated in cash from operations in 2019, and ended the year with a cash and cash equivalents balance of US$157.3M.  During 2019, we distributed our recent cash dividend to investors of NT$1.2 per ordinary share or US$0.764 per ADS, on August 30th to ordinary 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 accepted a resolution to distribute NT$1.80 per share pending shareholder authorization at our AGM on June 9, 2020. This underscores the Company’s position as a high cash dividend, high yield investment vehicle for investors.”

IMOS has a gross margin of 21.10% and an operating margin of 14.20% while its profit margin remained 14.50% for the last 12 months. Its earnings per share (EPS) expected to touch remained 131.10% for this year while earning per share for the next 5-years is expected to reach at 10.00%.  The company has 35.6M of outstanding shares and 23.02M shares were floated in the market. According to the most recent quarter its current ratio was 3.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 9.93% from the mean of 20 days, 15.78% from mean of 50 days SMA and performed 5.40% from mean of 200 days price. Company’s performance for the week was 4.51%, 18.59% for month and YTD performance remained -4.64%.

 

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