SINGAPORE Assembly and test services provider STATS ChipPAC shook off seasonal weakness to register its second consecutive quarter of
profit April 27, helped by racking up customers and technological advances.
The firm said in a statement that first-quarter revenue rose 65 percent over the previous year to $385.7 million.
STATS posted profits of $12 million or 6 cents per share, compared to a net loss of $27.1 million the first quarter of 2005.
The first quarter 2006 figures include nearly $16 million in special items and costs associated with the merger of STATS and ChipPAC, completed Aug. 2004.
President and CEO Tan Kay Loon said a seasonal downturn in the PC market was offset by revenue from new customers and steady demand in the communications and consumer sectors.
He added STATS was counting on more revenues from its package-on-package technology, which the firm optimized in February to enable the stacking of two die in the bottom package.
The CEO predicted second-quarter revenue growing 4 to 9 percent and expects STATS to outperform the industry this year.