TAIPEI, Taiwan -- IC-test house ASE Test Ltd. of Taiwan posted sales of $91.7 million in the second quarter of 2003, up 18 percent from 2Q '02 and up 29 percent from 1Q '03.
Net loss under US GAAP was $1.3 million in 2Q '03, compared with a net loss of $8.4 million in the year-ago period and a net loss of $12.6 million in 1Q '03. Diluted EPS in 2Q03 under US GAAP was a loss of $0.01, versus a loss of $0.09 a year ago and a loss of $0.13 in 1Q03.
Test revenues were $57.7 million, up 11 percent from 2Q '02 and 12 percent from 1Q '03. Assembly revenues, at $34.0 million, increased 33 percent from 2Q '02 and 72 percent from 1Q '03.
The company's projected capital spending for the year remains at approximately $150 million. At the end of the quarter, ASE Test had a total of 702 testers and 449 wire-bonders.
Based on current customer forecasts, the company presently expects its 3Q '03 revenues to grow by slightly over 10 percent from 2Q '03. It estimates its gross margin should improve from 15.9 percent in 2Q '03 to high-teens percentage in 3Q '03. With continuing revenue growth and improving cost structure, the company expects to return to profitability in 3Q '03.
An executive from the company said the market for IC-outsourcing is set to double by 2005 ( see today's story ).