Packaging and testing house ChipMOS Technologies (Bermuda) has announced that subsidiary ChipMOS Taiwan will receive approximately US$11.6 million in the sale of its idle, non-core assets. Those include six sets of Advantest T5377 and Advantest T5377S memory test systems, respectively, and a building located at the Hsinchu Science Park (HSP), northern Taiwan.

ChipMOS said the idle test tools and building have been sold to third parties unrelated to the company. Proceeds from the sales will be used to further pay off the Taiwan subsidiary's bank debts, ChipMOS indicated.

ChipMOS Taiwan specializes in assembly and test services mainly for memory ICs.

"These sales are part of our ongoing goal to enhance asset efficiency and efforts to have our asset profile match our business strategy as we continue to improve our financial position," said ChipMOS chairman and CEO SJ Cheng. "We are already seeing the benefits of reducing our commodity DRAM. By focusing on higher margin business opportunities, ChipMOS is positioned to recapture its growth momentum."

In October 2010, ChipMOS announced the expansion of its wafer gold bumping capabilities in Taiwan into 12-inch, gold bumping production, and plans to provide more multi-chip package assembly flexibilities for mobile/niche DRAM or flash customers. The announcement followed the company's earlier decision to reduce its commodity DRAM exposure.

ChipMOS reported net income on a US GAAP basis for the third quarter of 2010 was NT$51 million, compared to a NT$49.7 million net loss for the second quarter. Net sales on a US GAAP basis for the third quarter grew 4.9% sequentially to NT$4.72 billion.

ChipMOS is scheduled to hold a conference call on March 16 to discuss its fourth-quarter 2010 financial results and outlook for the first quarter 2011. The company generated NT$4.32 billion in fourth-quarter consolidated revenues, down 8.4% on quarter but up 20.4% on year.