ChipMOS Technologies returns to profit in 1st qtr

ChipMOS Technologies returns to profit in 1st quarter as operating expenses drop

Associated Press

NEW YORK (AP) -- ChipMOS Technologies (Bermuda) Ltd. returned to a profit in its first quarter as operating expenses declined.

The company, a provider of chip testing and assembly services, earned $12.2 million, or 41 cents per share, for the period ended March 31. That compares a loss of $5.7 million, or 21 cents per share, a year earlier.

Total operating expenses dropped to $9.7 million from $11.5 million.

Revenue edged up 1 percent to $148.3 million from $147.1 million.

ChipMOS said Thursday that it expects second-quarter revenue to climb about 10 percent to 14 percent from the first quarter's $148.3 million. This implies $163.1 million to $169 million. That compares with second-quarter 2012 revenue of $162.1 million.

The company's stock added 64 cents, or 3.9 percent, to $17.22 in afternoon trading. The stock touched a new 52-week high of $17.43 earlier in the session.

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