ChipMOS TECHNOLOGIES INC. (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), a leading semiconductor service provider, announced its consolidated financial results for the first half of 2024 today. The disclosure was made following the third meeting of the company's 11th Board of Directors.
For the six months ending June 30, 2024, ChipMOS reported operating revenue of NT$11.23 billion. The company achieved a gross profit of NT$1.59 billion, with an operating profit of NT$736.92 million. Profit before income tax stood at NT$1.02 billion, while net profit reached NT$888.37 million. These earnings resulted in a basic earnings per share (EPS) of NT$1.22 for the period.
As of June 30, 2024, ChipMOS's total assets were recorded at NT$45.44 billion, and total liabilities at NT$20.92 billion. Equity attributable to equity holders of the company amounted to NT$24.52 billion.
The board’s resolution and the subsequent public announcement in Taiwan confirm the company's financial position at the mid-year mark, offering investors and stakeholders transparent insight into its performance.
These figures are based on a press release statement and represent the company's performance as reported to the Securities and Exchange Commission.
In other recent news, ChipMOS TECHNOLOGIES INC. disclosed mixed results for the first quarter of 2024. The company reported a year-over-year increase in revenue by 17.7%, while witnessing a 5.4% decline from the prior quarter. The company's net earnings rose significantly to NT$0.6 per share, and gross margin improved to 14.2% Memory products, particularly NAND Flash, were key contributors to revenue.
Despite ongoing industry challenges, ChipMOS projects an upswing in the latter part of 2024. A dividend of NT$1.8 per share is proposed, pending approval at the May AGM. These are the recent developments that have occurred.
InvestingPro Insights
ChipMOS TECHNOLOGIES INC. (8150 and NASDAQ: IMOS) has shown a robust financial standing in the first half of 2024, and real-time data from InvestingPro reinforces this narrative. With a market capitalization of $873.29 million, ChipMOS trades at a P/E ratio of 13.29, hinting at a market valuation that recognizes its earnings potential. The company's revenue for the last twelve months as of Q1 2024 stood at $693.28 million, with a growth of 3.61%, indicating steady progress in its financial performance.
InvestingPro Tips highlight ChipMOS as a prominent player in the Semiconductors & Semiconductor Equipment industry, with a high shareholder yield and a track record of maintaining dividend payments for 12 consecutive years. These factors, coupled with the company's ability to exceed its short-term obligations with liquid assets, provide a reassuring picture for investors. Additionally, analysts predict profitability for the company this year, aligning with the positive earnings reported.
For those looking to delve deeper into ChipMOS's performance and potential, InvestingPro offers additional tips that can be accessed at https://www.investing.com/pro/IMOS. With a total of 5 InvestingPro Tips available, investors can gain a more comprehensive understanding of the company's strategic position and future outlook.
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