STATS ChipPAC records net income of US$3.5m in Q4

MAINBOARD-LISTED semiconductor packaging and test services company STATS ChipPAC reported a net income of US$3.5 million in the fourth quarter which ended on Dec 28, 2014. This compares favourably to the net loss of US$12.1 million it reported in fourth quarter of 2013 and the US$5.3 million it reported in the third quarter of 2014.

Fourth quarter revenue at US$406.7 million was up slightly from the US$395 million a year-ago. According to Stats' president and CEO, Tan Lay Koon, fourth quarter came in better than earlier guidance due to higher wireless communications revenue driven by new high-end smartphone ramps and stronger than seasonal demand in China lower-tier smartphones.

For the full year, also ending on Dec 28, the company reported a net loss of US$21.8 million compared to a loss of US$47.5 million in 2013. Full year revenue came in at US$1.58 billion in 2014, marginally lower than US$1.59 billion a year-ago.