STATS ChipPAC posts US$3.5m Q4 profit
Turnaround from US$12.1m loss a year earlier; revenue up slightly at US$406.7m
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MAINBOARD-LISTED semiconductor packaging and test services company STATS ChipPAC has reported net income of US$3.5 million for the fourth quarter ended Dec 28, 2014. This compares favourably to the net loss of US$12.1 million for the fourth quarter of 2013 and the US$5.3 million loss for the third quarter of 2014.
Q4 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, the Q4 result came in better than earlier guidance due to higher wireless communications revenue driven by new high-end smartphone ramp-ups and stronger than seasonal demand in China for lower-tier smartphones.
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