STATS ChipPAC posts US$17m Q4 profit
STATS ChipPAC, the world’s third-biggest microchip packaging firm, on Wednesday reported a quarterly net profit that exceeded the company’s forecast on strong sales of advanced packaging products and improved profit margins.
The company posted a fourth-quarter net profit of US$16.9 million (S$28.2 million), or 8 cents per American Depositary Share, compared with a year-ago net loss of US$469 million, or US$2.41 per ADS. Revenue for the most recent quarter rose 34.5 per cent to US$357.5 million, helped by strong demand for the company’s advanced packaging and testing products.
Last year’s results were weighed down by goodwill charges and costs tied to the acquisition of ChipPAC. — REUTERS
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