ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2018 RESULTS

HSINCHU, Taiwan, March 7, 2019 /PRNewswire-FirstCall/ --

Full Year 2018 Highlights (as compared to the Full Year 2017):

    --  Revenue Increases to US$603.8 Million from US$586.1 Million
    --  Gross Profit Increases to US$112.1 Million from US$105.8 Million
    --  Gross Margin Increases to 18.6% from 18.0%
    --  Ended 2018 with Cash and Cash Equivalents Balance of US$151.7 Million
        After Distributing Cash Dividend of US$8.4 Million and Capital Reduction
        of US$42.0 Million to Shareholders and Investing US$161.6 Million in
        CapEx to Support Growth Programs

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2018. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$30.61 against US$1.00 as of December 31, 2018.

All the figures were prepared in accordance with Taiwan-International Financial Reporting Standards ("Taiwan-IFRS").

Revenue for the fourth quarter of 2018 was NT$4,972.3 million or US$162.4 million, a decrease of 0.7% from NT$5,005.2 million or US$163.5 million in the third quarter of 2018 and an increase of 12.8% from NT$4,408.2 million or US$144.0 million for the same period in 2017. Net profit attributable to equity holders of the Company for the fourth quarter of 2018 was NT$516.6 million or US$16.9 million, and NT$0.71 or US$0.02 per basic common share, as compared to net profit attributable to equity holders of the Company for the third quarter of 2018 of NT$439.6 million or US$14.4 million, and NT$0.56 or US$0.02 per basic common share, and compared to net profit attributable to equity holders of the Company in the fourth quarter of 2017 of NT$163.0 million or US$5.3 million, and NT$0.19 or US$0.01 per basic common share. Net earnings for the fourth quarter of 2018 were US$0.46 per basic ADS, compared to US$0.37 per basic ADS for the third quarter of 2018 and US$0.13 per basic ADS in the fourth quarter of 2017.

Revenue for the fiscal year ended December 31, 2018 was NT$18,480.0 million or US$603.8 million, an increase of 3.0% from NT$17,940.8 million or US$586.1 million for the fiscal year ended December 31, 2017. Net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2018 was NT$1,103.1 million or US$36.0 million, and NT$1.37 or US$0.04 per basic common share, compared to net profit attributable to equity holders of the Company for the fiscal year ended December 31, 2017 was NT$3,026.5 million or US$98.9 million, and NT$3.57 or US$0.12 per basic common share. Net earnings for the fiscal year ended December 31, 2018 were US$0.90 per basic ADS, compared to US$2.34 per basic ADS for the fiscal year ended December 31, 2017. 2017 reflects the benefit of the Company's sale and transfer of 54.98% equity interests off a former wholly-owned subsidiary to Tsinghua Unigroup led strategic investors.

S.J. Cheng, Chairman and President of ChipMOS, said, "2018 was marked by significant accomplishments, including the completion of our capital reduction and the expansion of our higher margin TDDI business. We exited the year with our gross margin at 22.8% in Q4 up from 19.5% in Q3, and gross margin also up on a full year basis in 2018 compared to 2017. We achieved this improvement on modest revenue growth, as we benefitted from stable utilization and pricing levels combined with the benefit of ongoing operating efficiency improvements. This helped us to offset headwinds impacting the entire industry in the Niche DRAM business. While uncertainty remains around the trade tensions and the overall macroeconomic environment, ChipMOS is in a strong position entering 2019 having completed our capital reduction, fortified our balance sheet and secured long-term financing agreements on favorable terms from our banking partners. We are focused on achieving profitable annual revenue growth in 2019. We are confident we will be able to achieve our goals as we benefit from healthy demand in our COF business, led by stable demand from 4K TV customers and demand created by new smartphone models featuring bezel-less panels."

Silvia Su, Vice President of Finance and Accounting, commented, "We are encouraged with our improved financial positon exiting Q4, which enables us to fully support existing customer programs, while having the capacity to support new growth opportunities, including those in our DDIC business. Revenue for the full year 2018 increased 3.0%, with net earnings of US$0.90 per basic ADS or net earnings of US$0.04 per basic common share. We generated US$134.9 million cash from operations in 2018, ending 2018 with a cash and cash equivalents balance of US$151.7 million. This is after we distributed a cash dividend of US$8.4 million and capital reduction of US$42.0 million to shareholders; and invested US$161.6 million in CapEx. We continue to take a conservative approach to our CapEx plan as we invest based on customer forecasts and demand trends. We remain focused on leveraging ChipMOS's technical expertise, geographic footprint and financial strength to build further shareholder value."


                 Selected
                 Operations
                 Data




                            
     4Q18            4Q17     FY18     
         FY17



      Revenue
      by
      segment


        Testing                         23.5%    26.6%    25.9%   27.0%


        Assembly                        24.6%    26.0%    25.3%   29.3%


        LCD
         Driver                         33.7%    29.8%    30.8%   26.7%


     Bumping                            18.2%    17.6%    18.0%   17.0%




     CapEx                  
     US$55.7 million US$34.4  US$161.6
                                               million  million 
         US$153.6 million


        Testing                         21.0%     7.4%    31.7%   17.8%


        Assembly                         5.6%    19.2%     6.5%   14.0%


        LCD
         Driver                         69.5%    67.3%    55.2%   55.6%


     Bumping                             3.9%     6.1%     6.6%   12.6%




      Depreciation                            US$25.5  US$110.3
      and                                      million  million
      amortization
      expenses              
     US$28.1 million                   
         US$94.7 million




      Utilization
      by
      segment


        Testing                           73%      79%      77%     79%


        Assembly                          69%      62%      64%     66%


        LCD
         Driver                           81%      85%      80%     85%


     Bumping                              75%      66%      72%     69%


        Overall                           75%      74%      74%     75%


     Condensed consolidated
      statements of cash flows          Year ended    Year ended

                                      Dec. 31, 2018 Dec. 31, 2017


                                       US$ million   US$ million



     Net cash generated from (used
      in) operating activities                134.9          155.3


     Net cash generated from (used
      in) investing activities              (167.5)       (106.4)


     Net cash generated from (used
      in) financing activities               (78.4)        (33.1)


     Net increase (decrease) in cash
      and cash equivalents                  (111.0)          15.8


     Effect of exchange rate changes
      on cash                                   0.2          (0.6)


     Cash and cash equivalents at
      beginning of period                     262.5          247.3


     Cash and cash equivalents at end
      of period                               151.7          262.5

Investor Conference Call / Webcast Details

ChipMOS will host two conference calls on Thursday, March 7, 2019 to discuss the Company's financial results for the fourth quarter and full year of 2018.

    1. Date: Thursday, March 7, 2019Time: 4:00PM Taiwan (3:00AM New
       York)Dial-In: +886-2-21928016Password:  572038 #Replay Starting 2 Hours
       After Live Call Ends: www.chipmos.comLanguage: Mandarin






    2. Date: Thursday, March 7, 2019Time: 8:00PM Taiwan (7:00AM New
       York)Dial-In: +1-201-689-8562Password: 13687371Replay Starting 2 Hours
       After Live Call Ends: +1-412-317-6671, with ID 13687371Webcast of Live
       Call and Replay: www.chipmos.com Language: English

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.

About Non-Generally Accepted Accounting Principles ("Non-GAAP") Financial Measures

To supplement the consolidated financial results presented in accordance with the Taiwan-IFRS, ChipMOS uses non-GAAP free cash flow, non-GAAP earnings before interest, taxes, depreciation and amortization ("EBITDA") and non-GAAP net debt to equity ratio in this press release. The non-GAAP free cash flow represents operating profit plus depreciation, amortization and interest income and less capital expenditures, interest expenses, income tax expense and dividend. The non-GAAP EBITDA represents operating profit plus depreciation and amortization. The non-GAAP net debt to equity ratio represents the ratio of net debt, the sum of debt less cash and cash equivalent, divided by equity attributable to equity holders of the Company. These non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently.

The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the Taiwan-IFRS.

ChipMOS considers the use of non-GAAP free cash flow, non-GAAP EBITDA and non-GAAP net debt to equity ratio provides useful information to management to manage the Company's business and make financial and operational decisions and also to the investors to understand and evaluate the Company's business and operating performance. For more information on these non-GAAP financial measures, please refer to the table captioned "Reconciliations of Non-GAAP Measures to the Nearest Comparable GAAP Measures" in this press release.

- FINANCIAL TABLES FOLLOW BELOW -


                                                                                
              
                ChipMOS TECHNOLOGIES INC.


                                                                
              
                UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME


                                                         
              
                For the Three Months and the Year Ended Dec. 31, 2018 and Dec. 31, 2017


                                                        
              
                Figures in Million of U.S. dollars (USD) 
                
                  (1)


                                                          
              
                Except for Per Share Amounts and Weighted Average Shares Outstanding




                                                                                       3 months ended                                        Year ended

                                                                                                                                                      ---

                                                                                       Dec. 31, 2018                                        Dec. 31, 2017  Dec. 31, 2018   Dec. 31,
                                                                                                                                                                              2017

                                                                                                                                                                                ---

                                                                                             USD                         
              
                USD            USD           USD

                                                                                                                                                                                ---


              
                Revenue                                                             162.4                                                144.0           603.8       586.1


                            Cost of revenue                                                   (125.3)                                             (119.5)        (491.7)    (480.3)



                            Gross profit (loss)                                                  37.1                                                 24.5           112.1       105.8





                            Research and development
                             expenses                                                           (7.9)                                               (7.8)         (30.7)     (32.2)


                            Sales and marketing expenses                                        (0.5)                                               (0.5)          (1.7)      (2.1)


                            General and administrative
                             expenses                                                           (3.7)                                               (3.8)         (15.9)     (20.9)


                            Other operating income
                             (expenses),                                                          0.9                                                (1.5)            4.8        22.6
       net





                            Operating profit (loss)                                              25.9                                                 10.9            68.6        73.2




                            Non-operating income
                             (expenses), net                                                    (3.3)                                               (4.0)         (10.4)     (23.7)





                            Profit (loss) before tax                                             22.6                                                  6.9            58.2        49.5




                            Income tax benefit (expense)                                        (5.7)                                               (1.6)         (22.2)      (9.9)





                            Profit (loss) from continuing                                        16.9                                                  5.3            36.0        39.6
       operations




                            Profit (loss) from discontinued                                         -                                                                          59.3
       operations




                            Profit (loss) for the period                                         16.9                                                  5.3            36.0        98.9






              
                Attributable to:



              
                Equity holders of the Company


                            - Continuing operations                                              16.9                                                  5.3            36.0        39.6


                            - Discontinued operations                                               -                                                                          59.3


                                                                                                 16.9                                                  5.3            36.0        98.9





                            Profit (loss) for the period                                         16.9                                                  5.3            36.0        98.9


                            Other comprehensive income (loss)


                            Exchange differences on
                             translation                                                          0.9                                                  0.1           (1.6)      (7.6)
       of  foreign operations


                            Profit (loss) on remeasurements
                             of                                                                 (2.0)                                                 1.7           (2.0)        1.7
       defined benefit plans


                            Unrealized gain (loss) on
                             valuation of                                                         1.0                                                                 2.8
       equity instruments at fair value
       through other comprehensive
       income


                            Share of other comprehensive                                            -                                                 0.0           (0.1)        0.0
       income (loss) of associates and
       joint ventures accounted for using
       equity method


                            Income tax effect                                                     0.2                                                (0.3)          (0.1)      (0.3)



                            Total other comprehensive
                             income                                                               0.1                                                  1.5           (1.0)      (6.2)
       (loss)





                            Total comprehensive income
                             (loss)                                                              17.0                                                  6.8            35.0        92.7






              
                Attributable to:



              
                Equity holders of the Company


                            - Continuing operations                                              17.0                                                  6.8            35.0        42.8


                            - Discontinued operations                                               -                                                                          49.9



                                                                                                 17.0                                                  6.8            35.0        92.7





                            Profit (loss) attributable to
                             the                                                                 16.9                                                  5.3            36.0        98.9
       Company - basic



                            Earnings (loss) per share
                             attributable                                                        0.02                                                 0.01            0.04        0.12
       to the Company - basic



                            Earnings (loss) per ADS
                             equivalent -                                                        0.46                                                 0.13            0.90        2.34
       basic



                            Weighted average shares
                             outstanding                                                      726,925                                              849,571         802,725     846,686
       (in thousands) - basic



                            Profit (loss) attributable to
                             the                                                                 16.9                                                  5.3            36.0        98.9
       Company - diluted



                            Earnings (loss) per share
                             attributable                                                        0.02                                                 0.01            0.04        0.11
       to the Company - diluted



                            Earnings (loss) per ADS equivalent -                                                                                   0.12            0.89        2.28
       diluted
                                                                                                 0.46

                                                                                                                                                                                ===

                            Weighted average shares
                             outstanding                                                      730,212                                              854,606         813,707     865,795
       (in thousands) - diluted






              Note:


              (1) All U.S. dollar figures in this release are based on the exchange rate of NT$30.61 against US$1.00 as of Dec. 31, 2018. The
    convenience translation should not be construed as representations that the NT dollar amounts have been, or could be in the
    future be, converted into US dollars at this or any other exchange rate.


                                                                                   
              
                ChipMOS TECHNOLOGIES INC.


                                                                     
            
                UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME


                                                               
           
                For the Three Months and the Year Ended Dec. 31, 2018 and Dec. 31, 2017


                                                                             
              
                Figures in Million of NT dollars (NTD)


                                                                 
           
                Except for Per Share Amounts and Weighted Average Shares Outstanding




                                                                       3 months ended                                         Year ended



                                                                       Dec. 31, 2018                                        Dec. 31, 2017                       Dec. 31, 2018       Dec. 31, 2017

                                                                                                                                                                                              ---

                                                             
         
             NTD                                                 NTD                        
     
          NTD        
     
          NTD

                                                                                                                                                                                              ---


             
                Revenue                                            4,972.3                                              4,408.2                             18,480.0             17,940.8


                           Cost of revenue                                  (3,837.5)                                           (3,658.9)                          (15,050.0)          (14,703.7)



                           Gross profit (loss)                                1,134.8                                                749.3                              3,430.0              3,237.1





                           Research and development
                            expenses                                          (240.3)                                             (237.6)                             (939.3)             (985.9)


                           Sales and marketing expenses                        (14.8)                                              (14.7)                              (53.4)              (64.4)


                           General and administrative
                            expenses                                          (112.9)                                             (116.6)                             (485.1)             (639.8)


                           Other operating income
                            (expenses),                                          25.1                                               (45.7)                               147.5                692.9
      net





                           Operating profit (loss)                              791.9                                                334.7                              2,099.7              2,239.9




                           Non-operating income
                            (expenses), net                                   (100.8)                                             (122.8)                             (317.3)             (724.4)





                           Profit (loss) before tax                             691.1                                                211.9                              1,782.4              1,515.5




                           Income tax benefit (expense)                       (174.5)                                              (49.7)                             (679.3)             (303.9)





                           Profit (loss) from continuing                        516.6                                                162.2                              1,103.1              1,211.6
      operations




                           Profit (loss) from discontinued                          -                                                 0.8                                                  1,814.9
      operations

                                                                                                                                                                                              ---



                           Profit (loss) for the period                         516.6                                                163.0                              1,103.1              3,026.5






             
                Attributable to:



             
                Equity holders of the Company


                           - Continuing operations                              516.6                                                162.2                              1,103.1              1,211.6


                           - Discontinued operations                                -                                                 0.8                                                  1,814.9


                                                                                516.6                                                163.0                              1,103.1              3,026.5





                           Profit (loss) for the period                         516.6                                                163.0                              1,103.1              3,026.5



             
                Other comprehensive income (loss)


                           Exchange differences on
                            translation                                          26.3                                                  3.6                               (51.1)             (232.7)
      of foreign operations


                           Profit (loss) on remeasurements
                            of                                                 (60.0)                                                50.8                               (60.0)                50.8
      defined benefit plans


                           Unrealized gain (loss) on
                            valuation of                                         31.4                                                                                     85.0                    -
      equity instruments at fair value
      through other comprehensive
      income


                           Share of other comprehensive                             -                                                 0.6                                (2.7)                 0.6
      income (loss) of associates and
      joint ventures accounted for using
      equity method


                           Income tax effect                                      5.7                                                (8.6)                               (4.1)               (8.6)



                           Total other comprehensive
                            income                                                3.4                                                 46.4                               (32.9)             (189.9)
      (loss)





                           Total comprehensive income
                            (loss)                                              520.0                                                209.4                              1,070.2              2,836.6






             
                Attributable to:



             
                Equity holders of the Company


                           - Continuing operations                              520.0                                                208.6                              1,070.2              1,309.3


                           - Discontinued operations                                -                                                 0.8                                                  1,527.3


                                                                                520.0                                                209.4                              1,070.2              2,836.6





                           Profit (loss) attributable to
                            the                                                 516.6                                                163.0                              1,103.1              3,026.5
      Company - basic



                           Earnings (loss) per share
                            attributable                                         0.71                                                 0.19                                 1.37                 3.57
      to the Company - basic



                           Earnings (loss) per ADS
                            equivalent -                                        14.21                                                 3.84                                27.48                71.49
      basic



                           Weighted average shares
                            outstanding                                       726,925                                              849,571                              802,725              846,686
      (in thousands) - basic



                           Profit (loss) attributable to
                            the                                                 516.6                                                163.0                              1,103.1              3,026.5
      Company - diluted



                           Earnings (loss) per share
                            attributable                                         0.71                                                 0.19                                 1.36                 3.50
      to the Company - diluted



                           Earnings (loss) per ADS
                            equivalent -                                        14.15                                                 3.81                                27.11                69.91
      diluted



                           Weighted average shares
                            outstanding                                       730,212                                              854,606                              813,707              865,795
      (in thousands) - diluted





                                                                                                                    
              
                ChipMOS TECHNOLOGIES INC.


                                                                                                     
              
                UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION


                                                                                                         
              
                As of Dec. 31, Sep. 30, 2018, and Dec. 31, 2017


                                                                                                        
              
                Figures in Millions of U.S. dollars (USD) (1)




                                                                                                                                    
              
                Dec. 31, 2018                Sep. 30, 2018      Dec. 31, 2017




              
                
                  ASSETS                                                                                        
              
                USD                 
     
          USD       
     
          USD

    ---                                                                                                                                                                                                               ---


              
                Current assets



              
                Cash and cash equivalents                                                                                                                    151.7                    198.2               262.5



              
                Current financial assets at amortized cost                                                                                                     5.5                                           -



              
                Accounts and notes receivable, net                                                                                                           155.1                    154.4               131.2



              
                Inventories                                                                                                                                   58.1                     57.8                63.0



              
                Other current assets                                                                                                                          18.0                     17.5                 7.2



              
                Total current assets                                                                                                                         388.4                    427.9               463.9






              
                Non-current assets



              
                Financial assets at fair value through profit or loss                                                                                          0.4                      0.4                   -



              
                Financial assets at fair value through other                                                                                                   5.7                      4.7                   -
       comprehensive income



              
                Non-current financial assets at amortized cost                                                                                                 3.2                                           -



              
                Non-current financial assets carried at cost                                                                                                     -                                        0.7



              
                Investments accounted for using equity method                                                                                                126.2                    129.2               112.2



              
                Property, plant & equipment                                                                                                                  549.5                    522.0               498.7



              
                Other non-current assets                                                                                                                       9.1                     12.8                11.1




              
                Total non-current assets                                                                                                                     694.1                    669.1               622.7




              
                Total assets                                                                                                                               1,082.5                  1,097.0             1,086.6






              
                
                  LIABILITIES AND EQUITY

    ---


              
                
                  LIABILITIES

    ---


              
                Current liabilities



              
                Short-term bank loans                                                                                                                            -                                       31.7



              
                Accounts payable and payables to contractors and                                                                                              70.4                     44.5                45.8
       equipment suppliers



              
                Long-term bank loans, current portion                                                                                                         24.4                     24.4                70.0



              
                Long-term lease obligations payable, current portion                                                                                           0.6                      0.7                 0.4



              
                Other current liabilities                                                                                                                     74.2                    121.7                70.0



              
                Total current liabilities                                                                                                                    169.6                    191.3               217.9






              
                Non-current liabilities



              
                Long-term bank loans                                                                                                                         295.4                    307.7               245.0



              
                Long-term lease obligations payable                                                                                                              -                                        0.6



              
                Other non-current liabilities                                                                                                                 27.1                     24.6                22.2




              
                Total non-current liabilities                                                                                                                322.5                    332.3               267.8




              
                Total liabilities                                                                                                                            492.1                    523.6               485.7






              
                
                  EQUITY

    ---


              
                Capital stock - common stock                                                                                                                 246.0                    246.0               289.5



              
                Capital surplus                                                                                                                              205.2                    205.2               205.4



              
                Retained earnings                                                                                                                            166.8                    151.5               138.5



              
                Other equity interest                                                                                                                          3.9                      2.2                 0.4



              
                Treasury stock                                                                                                                              (31.5)                  (31.5)             (32.9)




              
                Equity attributable to equity holders of the Company                                                                                         590.4                    573.4               600.9



              
                Total equity                                                                                                                                 590.4                    573.4               600.9




              
                Total liabilities and equity                                                                                                               1,082.5                  1,097.0             1,086.6






              Note:


              (1) All U.S. dollar figures in this release are based on the exchange rate of NT$30.61 against US$1.00 as of Dec. 31, 2018. The
    convenience translation should not be construed as representations that the NT dollar amounts have been, or could be in the
    future be, converted into US dollars at this or any other exchange rate.


                                                                                   
          
                ChipMOS TECHNOLOGIES INC.


                                                                      
              
          UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION


                                                                          
            
            As of Dec. 31, Sep. 30, 2018, and Dec. 31, 2017


                                                                              
          
              Figures in Millions of NT dollars (NTD)




                                                                                                       Dec. 31, 2018                            Sep. 30, 2018  Dec. 31, 2017




              
                
                  ASSETS                                     
            
                NTD                                      NTD            NTD

    ---                                                                                                                                                                  ---


              
                Current assets



              
                Cash and cash equivalents                                                        4,642.5                                   6,067.2         8,035.7


                            Current financial assets at amortized cost                                         169.2                                                        -


                            Accounts and notes receivable, net                                               4,747.4                                   4,725.3         4,015.8



              
                Inventories                                                                      1,778.8                                   1,770.1         1,929.2



              
                Other current assets                                                               550.2                                     535.0           220.3




              
                Total current assets                                                            11,888.1                                  13,097.6        14,201.0






              
                Non-current assets


                            Financial assets at fair value through profit or loss                               11.5                                      11.4               -


                            Financial assets at fair value through other                                       174.4                                     142.9               -
       comprehensive income


                            Non-current financial assets at amortized cost                                      99.1                                                        -


                            Non-current financial assets carried at cost                                           -                                                    20.9


                            Investments accounted for using equity method                                    3,863.7                                   3,954.2         3,433.3



              
                Property, plant & equipment                                                     16,819.6                                  15,979.9        15,265.3



              
                Other non-current assets                                                           277.3                                     391.7           339.4




              
                Total non-current assets                                                        21,245.6                                  20,480.1        19,058.9




              
                Total assets                                                                    33,133.7                                  33,577.7        33,259.9






              
                
                  LIABILITIES AND EQUITY

    ---


              
                
                  LIABILITIES

    ---


              
                Current liabilities



              
                Short-term bank loans                                                                  -                                                   969.4


                            Accounts payable and payables to contractors and                                 2,154.4                                   1,360.7         1,401.4
       equipment suppliers


                            Long-term bank loans, current portion                                              747.4                                     747.3         2,143.2


                            Long-term lease obligations payable, current portion                                17.8                                      20.7            11.8



              
                Other current liabilities                                                        2,270.6                                   3,725.7         2,144.8



              
                Total current liabilities                                                        5,190.2                                   5,854.4         6,670.6






              
                Non-current liabilities



              
                Long-term bank loans                                                             9,042.1                                   9,418.4         7,498.9


                            Long-term lease obligations payable                                                    -                                                    18.0



              
                Other non-current liabilities                                                      830.6                                     754.6           679.1




              
                Total non-current liabilities                                                    9,872.7                                  10,173.0         8,196.0




              
                Total liabilities                                                               15,062.9                                  16,027.4        14,866.6






              
                
                  EQUITY

    ---


              
                Capital stock - common stock                                                     7,528.6                                   7,529.0         8,863.0



              
                Capital surplus                                                                  6,280.5                                   6,280.9         6,288.3



              
                Retained earnings                                                                5,104.5                                   4,636.1         4,237.9



              
                Other equity interest                                                              119.7                                      66.8            11.7



              
                Treasury stock                                                                   (962.5)                                  (962.5)      (1,007.6)



                            Equity attributable to equity holders of the Company                            18,070.8                                  17,550.3        18,393.3



              
                Total equity                                                                    18,070.8                                  17,550.3        18,393.3




              
                Total liabilities and equity                                                    33,133.7                                  33,577.7        33,259.9



             
          RECONCILIATIONS OF NON-GAAP MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES



             
          (Figures in Millions of U.S. dollars (USD))




                                                                                                The table below sets forth a reconciliation of our operating profit to non-GAAP free cash flow for the
                                                                                                                                                                                    periods indicated:




                                                                                             Three months ended



                                                                                          Dec. 31, 2018                                        Sep. 30, 2018                                        Dec. 31, 2017

                                                                                                                                                                                                              ---

                                                                                               USD                                                  USD                                                  USD

                                                                                                                                                                                                              ---

                     Operating profit                                                              25.9                                                  20.8                                                  10.9


                     Add: Depreciation                                                             28.1                                                  28.1                                                  25.5


                              Interest income                                                       0.5                                                   0.4                                                   0.5


                     Less: Capital
                      expenditures                                                               (55.7)                                               (32.6)                                               (34.4)


                              Interest expense                                                    (1.3)                                                (1.1)                                                (1.5)


                              Income tax expense                                                  (5.7)                                                (4.1)                                                (1.6)


                              Dividend                                                            (8.4)                                                                                                         -



                     Non-GAAP free cash
                      flow                                                                       (16.6)                                                 11.5                                                 (0.6)





                     The table below sets forth a reconciliation of our operating profit to non-GAAP EBITDA for the periods
                      indicated:




                                                                                             Three months ended



                                                                                          Dec. 31, 2018                                        Sep. 30, 2018                                        Dec. 31, 2017

                                                                                                                                                                                                              ---

                                                                                               USD                                                  USD                                                  USD

                                                                                                                                                                                                              ---

                     Operating profit                                                              25.9                                                  20.8                                                  10.9


                     Add: Depreciation                                                             28.1                                                  28.1                                                  25.5



                     Non-GAAP EBITDA                                                               54.0                                                  48.9                                                  36.4





                     The table below sets forth a calculation of our non-GAAP net debt to equity ratio for the periods indicated:




                                                                                          Dec. 31, 2018                                        Sep. 30, 2018                                        Dec. 31, 2017

                                                                                                                                                                                                              ---

                                                                                               USD                                                  USD                                                  USD

                                                                                                                                                                                                              ---

                     Short-term bank
                      loans                                                                           -                                                                                                      31.7


                     Long-term bank
                      loans                                                                       319.8                                                 332.1                                                 315.0
                                   (including current portion)


                     Long-term lease
                      obligations
                      payable                                                                       0.6                                                   0.7                                                   1.0
                                   (including current portion)


                     Less: Cash and cash
                      equivalents                                                               (151.7)                                              (198.2)                                              (262.5)



                     Net debt                                                                     168.7                                                 134.6                                                  85.2



                     Equity attributable
                      to equity holders                                                           590.4                                                 573.4                                                 600.9
      of the Company



                     Net debt to equity
                      ratio                                                                       28.6%                                                23.5%                                                14.2%


                     Contact
                s
      :


       
                In Taiwan                 
     
                In the U.S.


       Jesse Huang                            
     David Pasquale


       ChipMOS TECHNOLOGIES INC.              
     Global IR Partners


       +886-6-5052388 ext. 7715               
     +1-914-337-8801

                     jesse_huang@chipmos.com   
     
                dpasquale@globalirpartners.com

    ---

View original content:http://www.prnewswire.com/news-releases/chipmos-reports-fourth-quarter-and-full-year-2018-results-300808281.html

SOURCE ChipMOS TECHNOLOGIES INC.