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Strategies & Market Trends : Value Investing

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To: Patriarch who wrote (29290)12/18/2007 9:31:11 AM
From: gcrispin   of 72298
 
Briefing.com's summary of IMOS press release concerning DRAM prices.

8:04AM Chipmos Technology lowers Q4 guidance to approx flat to slightly up, compared to 5 to 9% sequential growth (IMOS) 4.44 : Co announces rev for the month of November 2007 was $64.4 mln, a decrease of 2.3% from the month of October 2007 and an increase of 4.3% from the same period in 2006. The co also revised its guidance for the fourth quarter of 2007 to reflect the rapid decline in DRAM pricing and inventory oversupply in the channel. The co had expected Q4 revenue growth of 5% to 9% compared to the third quarter of 2007 revenue of $184.1 mln. The co now expects Q4 to be approxi flat to slightly up compared to the third quarter of 2007, with US GAAP gross margin on a consolidated basis for the fourth quarter of 2007 similar to the 24.2% achieved in the third quarter of 2007. The co continues to counter falling DRAM A.S.Ps with execution on cost controls and diligence in its capital expenditures. Capex for the full year 2007 is expected to be approx $190 mln compared to $487 mln for the full year 2006. The co remains cautious but expects market conditions will improve during the next few quarters with DRAM pricing improving first due to manufacturing constraints. Demand and pricing remain stable and continue to improve in the co's flash and driver IC segments.
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