Stats Chippac

Stats Chippac: Announced good set of results, which was in-line with the co’s positive guidance in early Jan. 4Q12 rev at $480.4m, +17.6% yoy and +12.6% qoq, which was buoyed by strong demand in advanced packaging and test services for high end smartphones and tablets and the benefit of an extra wk in the qtr. Rev for the full year 2012 of $1.7b was flat yoy. Gross margin for the fourth quarter of 2012 improved to 18.3% vs 16.0% yoy and 16.9% qoq, while result brings FY12 rev to $16.5m vs a net loss of $2.5m yoy. Note however grp cautioned that based on current visibility, expect net revenues in 1Q13 to be approximately down13% to 19% vs the prior quarter, as revenue is impacted by seasonality and excludes the benefit of an extra week. The outlook for 1Q13 is based on a fiscal 13-week qtr and is subject to a number of risks and uncertainties that could cause actual events or results to differ materially from those disclosed in the outlook statements.