3SOF

just fyi:
IMOS holding well in current market!

ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2006 RESULTS
Seventh Consecutive Quarter of Record Revenue

Hsinchu, Taiwan, March 15, 2007 – ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) today reported unaudited consolidated financial results for the fourth quarter and year ended December 31, 2006. All U.S. dollar figures in this release are based on the exchange rate of NT$32.595 against US$1.00 as of December 29, 2006.

Under ROC GAAP and US GAAP, net revenue for the fourth quarter of 2006 was NT$5,920.8 million or US$181.6 million, an increase of 38.2% from NT$4,282.9 million or US$131.4 million for the same period in 2005 and an increase of 11.5% from NT$5,312.5 million or US$163.0 million in the third quarter of 2006. Under ROC GAAP, the gross margin for the fourth quarter of 2006 was 31.8%, compared to 31.5% for the same period in 2005 and 28.3% for the third quarter of 2006; under US GAAP, the gross margin for the fourth quarter of 2006 was 31.7%, compared to 31.6% for the same period in 2005 and 28.2% for the third quarter of 2006. Under ROC GAAP, net income for the fourth quarter of 2006 was NT$721.9 million or US$22.1 million, and NT$10.33 or US$0.32 per common share, compared to net income of NT$475.8 million or US$14.6 million, and NT$7.03 or US$0.22 per common share, for the same period in 2005 and net income of NT$481.5 million or US$14.8 million, and NT$7.00 or US$0.21 per common share, for the third quarter of 2006. Under US GAAP, net loss for the fourth quarter of 2006 was NT$299.5 million or US$9.2 million, and NT$4.28 or US$0.13 per common share.

Under ROC GAAP and US GAAP, net revenue for the fiscal year ended December 31, 2006 was NT$20,375.2 million or US$625.1 million, an increase of 33.9% from NT$15,214.0 million or US$466.7 million for the fiscal year ended December 31, 2005. Under ROC GAAP, net income for the fiscal year ended December 31, 2006 was NT$2,121.3 million or US$65.1 million, and NT$30.84 or US$0.95 per common share, compared to net income of NT$928.3 million or US$28.5 million, and NT$13.74 or US$0.42 per common share, for the fiscal year ended December 31, 2005. Under US GAAP, net income for the fiscal year ended December 31, 2006 was NT$1,253.1 million or US$38.4 million, and NT$18.22 or US$0.56 per common share.

Under US GAAP, the Company made a US$14.1 million for the provision of 2006 bonuses to employees, directors, and supervisors as operating expenses in the fourth quarter of 2006. Starting from the first quarter of 2007, bonuses provision will be made every quarter according to quarterly earnings instead of making the full year bonuses provision in the fourth quarter every year.

Net income and EPS under US GAAP for the fourth quarter of 2006 were impacted by a US$14.0 million or US$0.20 per share non-operating expense resulting from changes in the fair value of the embedded derivative liabilities for the conversion feature contained in the Company's outstanding convertible notes due 2009 and 2011, respectively, as required by Statement of Financial Accounting Standard No. 133 "Accounting For Derivative Instruments And Hedging Activities" and Emerging Interpretation Task Force ("EITF") Issue No. 00-19 "Accounting For Derivative Financial Instruments Indexed To And Potentially Settled In A Company's Own Stock." In addition, there was a US$7.6 million or US$0.11 per share non-operating expense resulting from the amortization of the convertible notes discount.

The unaudited consolidated financial results of ChipMOS for the fourth quarter ended December 31, 2006 included the financial results of ChipMOS TECHNOLOGIES INC., ChipMOS Japan Inc., ChipMOS U.S.A., Inc., ChipMOS TECHNOLOGIES (H.K.) Limited, MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor Corp.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "2006 was the best year in the history of ChipMOS with record revenue and our ability to successfully maintain high margins, and generate the highest profits in the history of ChipMOS. This is also the seventh consecutive quarter we have achieved record revenue. The impressive revenue growth was again ahead of expectations this quarter due to continued healthy demand from our LCD driver IC and memory testing businesses. Our DRAM business was the major growth driver for 2006. Despite the weak PC demand in year 2006, we still benefited from DDR II transition for the whole year and generated a 21% growth in DRAM business. The current business resulted in long-term cooperation with many of our key customers and provided us with a clearer vision on our capacity expansion plan in coming years."

"We successfully grew our flash business by further extending business relationships with leading NOR flash players in the U.S. and in Taiwan," continued Mr. Cheng. "Flash revenue currently contributes around 17% of our total revenue. Longer-term, we currently expect flash to stay around 20% of our total revenue. In 2006, we also entered into a long-term program with a new customer for mix-signal assembly with a well known U.S. based, global semiconductor solution supplier mainly for PC peripheral applications. We expect this program to help secure any excess leadframe capacity left from decreasing DDR I assembly demand. We also benefited from positive developments with existing long-term programs with DRAM and LCD driver customers."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "Importantly, our gross margin increased to 31.8% in the fourth quarter compared to 28.3% in the third quarter. Margin expansion was led by improvement in utilization levels, especially in our LCD driver business. Reflecting strong demand in the quarter, overall utilization level was around 86%, up 5% compared to the third quarter. Margins further benefited from a stable pricing environment in the fourth quarter across the board. Capital expenditures were US$116.8 million in the fourth quarter in support of existing customer programs and new flash and DDR II testing programs ramping. Our current plan remains to reduce our annual capex level by 30% to 40% in 2007 as we currently believe we have adequate capacity in place to support our customers and their program ramps. We currently expect that a decrease in capex will allow ChipMOS to focus on margin improvement and revenue growth, as well as improving cash flow."

2 updates:

1)
Chipmos Technologies "buy," target price raised
Friday, March 16, 2007 11:01:13 PM ET
Deutsche Securities
NEW YORK, March 16 (newratings.com) - In a research note published yesterday, analysts at Deutsche Bank Securities reiterate their "buy" rating on Chipmos Technologies (CHY.FSE). The target price has been raised from $7.50 to $8.50.

2)
Chipmos Technology "outperform," target price raised
Friday, March 16, 2007 10:27:35 PM ET
Friedman,Billings,Ramsey &Co
NEW YORK, March 16 (newratings.com) - In a research note published  yesterday, analysts at Friedman Billings reiterate their "outperform" rating on Chipmos Technology (CHY.FSE). The target price has been raised from $8 to $8.50.

Mike,
just FYI, updated company presentation 

have you ever checked:
http://www.thailin.com.tw/
&
http://www.chipmos.com.cn/group.asp

regards
O.

not good news for IMOS shareholder IMHO 
why just 6.28$?

Michael, any idea?
please check also the following discussion:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=24122&tid=33210&mid=33210&tof=19&rt=1&frt=2&off=1

tia
Oliver

Siliconware Reports Stake in ChipMOS
Wednesday April 4, 1:45 pm ET
Siliconware Precision Reports 15 Percent Stake in ChipMOS Technologies

NEW YORK (AP) -- Siliconware Precision Industries Co. bought a 15 percent stake in Taiwan's ChipMOS Technologies (Bermuda) Ltd., a provider of semiconductor testing and assembly services, according to a regulatory filing Wednesday.

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Siliconware Precision, a provider of semiconductor packaging services also based in Taiwan, reported owning 12.2 million ChipMOS shares. Siliconware Precision bought the stock for $6.28 per share, or a total price of $76.5 million, on Feb. 13 as part of a transaction in which it sold its interest in ChipMOS Taiwan back to the company.

Siliconware Precision said the shares were acquired for "strategic investment purposes with the intention of acquiring a substantial ownership position" in the company, according to the Securities and Exchange Commission filing.

ChipMOS shares was steady at $6.89 and Siliconware Precision stock rose 50 cents, or 5 percent, to $10.47 in afternoon trading on the Nasdaq Stock Market. Siliconware Precision shares have climbed from a 52-week low of $4.66 in July to a high of $10.18 at the end of March.

Mike, any comments from your side?

cheers
Oliver

ChipMOS March sales up 28 percent
Tuesday , April 17, 2007 10:20ET

NEW YORK, Apr 17, 2007 (AP via COMTEX) -- ChipMOS Technologies (Bermuda) Ltd., a Taiwanese provider of semiconductor testing and assembly services, said Tuesday its March sales increased 28 percent from March 2006. For the month, the company generated $59.4 million in sales, which represents a 12 percent sequential increase from February 2007. First-quarter sales totaled $173 million, up 31 percent from the first quarter of 2006, and down 3 percent sequentially from the fourth quarter of 2006.

Chart & Presentation update:

The IMOS Threads in Previous 3SOF Picks
Have been merged.
Got the go ahead to do so from Ramsburg.
I will be working here on this board to merge other threads also.

I will leave you Friday's closing chart while I'm in this thread....... 

Good trading to all !   

Regards,
Your fellow trader @3SOF
setravis