STATS ChipPAC lowers 3Q outlook

In its previous third quarter 2012 outlook, the company had expected net revenues to be flat compared to prior quarter, with adjusted EBITDA in the range of 21-23% of revenue, and had expected capital expenditure in the third quarter of 2012 to be approximately $170-190 million. STATS ChipPAC now expects that its net revenues in the third quarter 2012 to be 3-5% decrease from prior quarter due to weakness in the PC end market and delay in supply of advanced silicon node wafers for high end smartphones. STATS ChipPAC expects to maintain adjusted EBITDA in the range of 21-23% of revenue and expects lower capital expenditure in the range of $160-170 million in the third quarter of 2012.