STATS ChipPAC reports $58m loss in 4Q

STATS ChipPAC announced a net loss of US$46 million ($58 million) for the fourth quarter of 2011 compared to net income of US$19.0 million in the fourth quarter of 2010.

Net loss for the full year 2011 was US$2.5 million compared to net income of US$108.0 million in the full year of 2010.

The Mainboard-listed semiconductor tester said flood related charges totalling US$55.5 million comprising goodwill impairment (US$24.5 million), plant and equipment impairment (US$16.3 million), and other related charges (US$14.7 million) depressed its financial results. The company had suspended its Thailand plant operation due to the flood.