ChipPac Sees Narrower First-Quarter Loss

ChipPac(CHPC Quote) said its first-quarter results would be ahead of both the company's previous guidance and analyst estimates due to improving order rates.

The company now sees a pro forma loss in the range of 15 cents to 16 cents a share on revenue of about $79 million, compared with a year-ago loss of 11 cents a share on revenue of $89.86 million.

Previously, the semiconductor design and assembly company had forecast a loss of about 18 cents to 22 cents a share on revenue of $74 million to $77 million. According to Thomson Financial/First Call, Wall Steet analysts had been expecting a loss of 19 cents a share on revenue of $75.67 million.

In a press release, the company said it saw stabilization in the semiconductor market in the quarter, and its results were helped by improving outlooks among its customers.

Shares of ChipPac closed at $8.95 Wednesday on the Nasdaq ahead of the earnings release.