STATS ChipPAC's revenue jumped 17.6% in 4Q12

Here’s how it milked benefits from smartphones and tablets.

STATS ChipPAC Ltd's announced its results for the fourth quarter and full year 2012.

The company's revenue for the fourth quarter of 2012 is at $480.4 million, an increase of 17.6% over the prior quarter and 12.6% over the fourth quarter of 2011, Tan Lay Koon, President and Chief Executive Officer of STATS ChipPAC, said.

Here's more:

Fourth quarter 2012 revenue reflected strong demand in advanced packaging and test services for high end smartphones and tablets and the benefit of an extra week in the quarter. Revenue for the full year 2012 of $1.7 billion was flat to the prior year."

Gross margin for the fourth quarter of 2012 improved to 18.3% compared to 16.0% in the third quarter of 2012 and 16.9% in the fourth quarter of 2011.

Operating margin before goodwill and equipment impairment and flood related income (expenses) for the fourth quarter of 2012, including litigation settlement charges announced on 29 January 2013, decreased to 4.4% of revenue compared to 6.5% in the third quarter of 2012 and 6.6% in the fourth quarter of 2011.

Net income(1) for the fourth quarter of 2012 was $1.7 million compared to net income of $3.2 million in the third quarter of 2012 and net loss of $46.0 million in the fourth quarter of 2011. Net income(1) for the full year 2012, including litigation settlement charges(2), was $16.6 million compared to net loss of $2.5 million in the full year 2011.

Excluding the litigation settlement charges(2), the net income for the fourth quarter and full year 2012 were $23.7 million and $38.6 million, respectively.

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