ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) Q1 2024 Earnings Conference Call May 9, 2024 3:00 AM ET

Company Participants

GS Shen - Technical Deputy Director-Strategy and Investor Relations
SJ Cheng - Chairman and President
Silvia Su - Vice President-Finance and Accounting Management Center
Jesse Huang - Spokesperson and Senior Vice President-Strategy and Investor Relations

Conference Call Participants

Haas Liu - UBS
Stanley Wang - SinoPac
Michael Hsu - Yuanta

Operator

Greetings, and welcome to the ChipMOS First Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

I would now like to turn the conference over to Dr. GS Shen, of ChipMOS TECHNOLOGIES Strategy and Investor Relations team to introduce the management team of the company in Conference. Dr. Shen, you may begin.

GS Shen

Thank you, operator. Welcome everyone to ChipMOS' first quarter 2024 results conference call. Joining us today from the company are Mr. SJ Cheng, Chairman and President; and Ms. Silvia Su, Vice President of Finance and Accounting Management Center. We are also joined on the call today by Mr. Jesse Huang, Spokesperson and Senior Vice President of Strategy and Investor Relations. S.J. will chair the meeting and review business highlights and provide color on the operating environment. After Silvia’s review of the company's key financial results, SJ will provide our current business outlook. All company executives will then participate in an open Q&A session.

Please note, we have posted a presentation on the MOPS and also on the ChipMOS' website www.chipmos.com to accompany today’s conference call. Before we begin the prepared comments, we remind you to review our forward-looking statements disclaimer, which is noted as the “Safe Harbor Notice” on the second page of today’s presentation and in the results press release we issued. As a reminder, today’s conference call is being recorded and a replay will be made available later today on the company’s website.

At this time, I'd like to now turn the call over to our company's Chairman and President, Mr. SJ Cheng. Please go ahead, sir.

SJ Cheng

Yes, thank you, GS. We appreciate everyone joining our call today.

We are very pleased with our strong results and business execution in the face of industry headwinds and end market challenges. We continue to carefully add capacity, expand our leadership, and build long-term value for shareholders.

In terms of Q1 highlights, our Q1 revenue increased 17.7% compared to Q1 2023, and was down 5.4% from Q4 2023 reflecting fewer working days in Q1 and industry headwinds.Q1 Gross margin increased 180 basis points to 14.2% from 12.4% in Q1 2023, and decreased 590 basis points compared to Q4 2023. Net Earnings more than doubled to NT$0.6 in Q1 2024 on a year over year basis.