HSINCHU, May 11, 2021 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 andNASDAQ: an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today reported consolidated financial results for the first quarter ended March 31, 2021, with a new quarterly revenue record high, continued gross margin expansion and a 40.4% increase in net earnings compared to the fourth quarter ended December 31, 2020. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$28.48 against US$1.00 as of March 31, 2021.
All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“Taiwan-IFRS”).
Revenue for the first quarter of 2021 was NT$6,465.3 million or US$227.0 million, an increase of 2.5% from NT$6,310.3 million or US$221.6 million in the fourth quarter of 2020 and an increase of 15.7% from NT$5,586.8 million or US$196.2 million for the same period in 2020. The sequential and year over year increases reflects the Company’s continued execution on its business strategy, as it leverages prior investments in capacity to meet increased customer’ demand levels across its key market segments, with a higher average ASP and higher consolidated gross margin.
Net non-operating income in first quarter of 2021 was NT$25.3 million or US$0.9 million, compared to net non-operating expenses NT$277.6 million or US$9.7 million in the fourth quarter of 2020. The difference is mainly due to the decrease of foreign exchange loss of NT$151.6 million or US$5.3 million and the share of gain of associates accounted for using equity method of NT$141.6 million or US$5.0 million. Net non-operating expenses in first quarter of 2020 was NT$4.3 million or US$0.2 million. The difference is mainly due to increase of the share of gain of associates accounted for using equity method of NT$69.2 million or US$2.4 million, the decrease of interest expense of NT$12.5 million or US$0.4 million and partially offset by the increase of foreign exchange loss NT$54.7 million or US$1.9 million.
Net profit attributable to equity holders of the Company for the first quarter of 2021 was NT$959.1 million or US$33.7 million, and NT$1.32 or US$0.05 per basic common share, as compared to NT$686.4 million or US$24.1 million, and NT$0.94 or US$0.03 per basic common share in the fourth quarter of 2020. This compares to NT$712.7 million or US$25.0 million, and NT$0.98 or US$0.03 per basic common share in the first quarter of 2020. Net earnings for the first quarter of 2021 were US$0.93 per basic ADS, compared to US$0.66 per basic ADS for the fourth quarter of 2020 and US$0.69 per basic ADS in the first quarter of 2020.
Free cash flow for the first quarter of 2021 was NT$922.3 million or US$32.4 million, with a balance of cash and cash equivalents was NT$5,590.8 million or US$196.3 million.