ChipPAC, Inc., a Fremont, Calif.-based provider of semiconductor assembly and test services, today announced revenue for the third quarter ended September 30,increased 26.8% to $94.7 million, compared to $74.7 million in the same quarter a year ago.
This is a decline of 2.5% compared to the quarter ended June 30, 2002. The improvement in year over year revenue results is primarily due to 50% and 43% growth in ChipPAC's Laminate and Test product lines, respectively.
The company further narrowed its net loss to $3.2 million or 3 cents per diluted share, in line with guidance, from $7.1 million or 8 cents per diluted share in the quarter ended June 30, 2002, which included a one time extraordinary charge.
"The fourth quarter started out strong but we remain cautious due to the uncertain industry outlook. We believe, generally, that customers have adjusted their inventory levels to appropriate levels, but in determining our revenue we will need to see the actual pull through from end markets and the seasonality effects on the fourth quarter. Based on this current limited visibility, we expect revenue for the fourth quarter to be in the range of $89 million to $92 million with EPS in the range of 7 to 10 cents per share," the company said.