SAN JOSE, Calif. -- The IC-packaging and test world is suffering due to the downturn.
Two Taiwanese chip-packaging houses--ASE and Siliconware--posted mixed results on Wednesday (April 29). Another Taiwan vendor, ChipMOS, is in trouble. Meanwhile, Amkor posted a loss. And STATS ChipPAC had another layoff and loss--it cut 600 more jobs, or 5 percent of its headcount.
On Wednesday, Singapore's STATS ChipPAC Ltd. said revenue for first quarter of 2009 of $220.5 million decreased by 32.1 percent over prior quarter and by 48.4 percent over the first quarter of 2008. Net loss for first quarter of 2009, including an additional $12.9 million of restructuring charges, was $51.1 million or $0.02 of net loss per diluted ordinary share, compared to net income of $17.9 million or $0.01 of net income per diluted ordinary share in the first quarter of 2008.
''In response to a further revenue decrease over the prior quarter, we implemented longer mandatory shutdowns and vacations; and additional workforce reduction of approximately 600 employees in March 2009 to reduce our cash costs and operating expenses,'' said John Lau, chief financial officer of STATS ChipPAC, in a statement.
Hit hard by the downturn, STATS ChipPAC late last year said it plans to cut approximately 1,600 employees, representing approximately 12 percent of the company's global workforce.
U.S.-based Amkor Technology Inc. said first quarter net sales of $389 million were down 29 percent sequentially from the fourth quarter of 2008 and down 44 percent from the first quarter of 2008. The first quarter net loss was $22 million, or minus $0.12 per share compared to a net loss of $623 million, or minus $3.40 per share in the prior quarter, which included a $671 million goodwill impairment charge. Net income for the first quarter of 2008 was $72 million, or $0.36 per diluted share.
James Kim, Amkor's chairman and chief executive, painted a mixed picture. ''Our sales were adversely impacted by the sharp global economic downturn and weakness in consumer demand,'' he said in a statement.
''Based on current customer forecasts, we expect second quarter 2009 net sales to increase 18-to-22 percent from the first quarter of 2009 reflecting customer inventory builds from historically low first quarter levels. However, there remains significant uncertainty regarding the full scope and duration of the current downturn, and it is difficult to predict future results in this very challenging economic environment,'' he added.
Meanwhile, Taiwan's Advanced Semiconductor Engineering Inc., the world's largest independent provider of IC packaging and testing services, reported revenues of NT$13.397 billion ($398.5 million) for the first quarter of 2009, down 46 percent year-over-year and down 27 percent sequentially. Net loss for the quarter totaled NT$1.567 billion ($46.6 million), down from net income of NT$2.337 billion ($69.5 million) in Q108 and net loss of NT$800 million ($23.8 million) in Q408.
Net revenues generated from its IC packaging operations were down 47 percent year-over-year and down 27 percent sequentially. Net revenues generated from its testing operations were down 43 percent year-over-year, and down 28 percent sequentially.
For Q2, ASE expects its sales to jump over 40 percent
from the first quarter, according to Reuters.
Taiwan's Siliconware Precision Industries Co. Ltd. (SPIL) said that its sales revenues for the first quarter of 2009 were NT$9.203 billion ($271 million), which represented a 26.1 percent decrease in revenues compared to the fourth quarter of 2008 and a 38.4 percent decline in revenues compared to the first quarter of 2008.
SPIL reported a net income of NT$262 million ($7.7 million) for the first quarter of 2009, compared with a net loss of NT$1.034 billion ($30.8 million) and a net income of NT$1,753 billion ($52.1 million) for the fourth quarter of 2008 and the first quarter of 2008, respectively.
Another vendor, ChipMOS Technologies Bermuda Ltd., recently disclosed that it will have ''an unqualified modified opinion with an explanatory paragraph in respect of the company's ability to continue as a going concern from its independent registered accounting firm, Moore Stephens, Hong Kong.''
The loss-ridden company has been working to address the concerned underlying operating loss and net current liabilities.
It expects that first quarter revenue will be in the range of approximately $67-to-$72 million, which is a decrease of 23-to-28 percent as compared to the fourth quarter 2008.