STATS ChipPAC narrows Q1 loss, increases revenues

Gross margin for the first quarter of 2015 was 10.5% compared to 10.0% in the first quarter of 2014 and 12.1% in the prior quarter. Operating margin for the first quarter of 2015 was 2.1% of revenue, compared to 0.7% in the first quarter of 2014 and 3.1% in the prior quarter. Net loss for the first quarter of 2015 was USD 2.1 million compared to net loss of USD 15.8 million in the first quarter of 2014 and net income of USD 3.5 million in the prior quarter. Tan Lay Koon, President and Chief Executive Officer of STATS ChipPAC, said, "Revenue for the first quarter of 2015 increased 1.5% to USD 371.1 million compared to a year ago and was 8.8% lower from the prior quarter, as we saw seasonal weakness in our personal computer and consumer end markets. In the wireless communication market, we continued to see strength in demand for emerging market handsets as well as product ramps for new high performance smartphones and wearable devices."