STATS ChipPAC pares loss to US$2.1m in Q1

Singapore

SEMICONDUCTOR packaging and test services company STATS ChipPAC pared its net loss by 86.7 per cent to US$2.1 million from US$15.8 million in its fiscal first quarter which ended on March 29. This came on a revenue rise of 1.5 per cent to US$371 million from US$365.4 million in the year-ago quarter.

STATS president and CEO Tan Lay Koon said the revenue for the first quarter was 8.8 per cent lower than the prior sequential quarter, while net income was US$3.5 million in that quarter. In Q1 this year, the company saw seasonal weakness in its personal computer (PC) and consumer end markets.