ChipMOS Q3 Profit Dips

(RTTNews) - ChipMOS TECHNOLOGIES INC. (IMOS), a provider of outsourced semiconductor assembly and test services, on Thursday reported a sharp decline in its net income for the third quarter, with over 25 percent decrease in revenues.

The Group's net profit attributable to equity holders of the Company fell to NT$671.8 million from last year's NT$1.398 billion. On a basic per share basis, earnings were down NT$0.92 from NT$1.93 in the last year. On a per share ADS basis, earnings totaled $0.58, compared to $1.21 a year ago.

For the third quarter, the Group's revenues slid by 26.6 percent to NT$5.254 billion from last year's NT$7.161 billion. The Group said its third-quarter results were adversely impacted by global inflationary pressures, inventory adjustments and macro weakness.