Both quarterly and sequential growth in revenue benefitted from healthier channel inventory levels and stable loading levels of the DDIC high-end test platform.

The company generated revenue of NT$1.912 billion ($59.3 million) in September, representing an increase of 4.3% vs. August 2023 and 20.2% vs. September 2022.

In August, the company reported Q2 revenue growth of 18.2% Y/Y to NT$5.44 billion ($174.8 million), aided by improved memory and LCD driver businesses, which boosted the overall utilization rate to 60% from 52% in Q1 FY23.

The company will report Q3 FY23 results on November 2, 2023.

Price Action: IMOS shares traded lower by 1.24% at $23.04 on the last check Friday.