Advanced Semiconductor Engineering, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter of 2010
TAIPEI, Taiwan, April 30 /PRNewswire-Asia-FirstCall/ -- Advanced Semiconductor Engineering, Inc. (TAIEX: 2311; NYSE: ASX) ("We", "ASE", or the "Company"), the world's largest independent provider of IC packaging and testing services, today reported unaudited net revenue(1) of NT$37,555 million for the first quarter of 2010 (1Q10), up 180% year-over-year and up 43% sequentially. Net income for the quarter totaled NT$3,395 million, up from a net loss of NT$1,567 million in 1Q09 and down slightly from net income of NT$3,450 million in 4Q09. Diluted earnings per share for the quarter was NT$0.63 (or US$0.098 per ADS), compared to losses per share of NT$0.30 for 1Q09 and diluted earnings per share of NT$0.66 for 4Q09.
To aid investors in understanding the significance of the Company's successful tender offer for 78.13% of the outstanding common shares of Universal Scientific Industrial Co., Ltd. ("USI") in the first quarter of 2010, this earnings release includes (i) the Company's pro forma and actual financial results both reflecting the consolidation of USI, and (ii) consolidated financial results for USI. USI's financial results are reflected in the Company's actual financial results for the first quarter 2010 beginning in February 2010. The pro forma financial results reflect the completion of the USI tender offer as if it had occurred on January 1, 2009. The presentation of the financial results for USI and the Company as described above are for purposes of this earnings release only.
(1) All financial information presented in this press release is
unaudited, consolidated and prepared in accordance with accounting
principles generally accepted in the Republic of China, or ROC GAAP.
Such financial information is generated internally by us, and has not
been subjected to the same review and scrutiny, including internal
auditing procedures and audit by our independent auditors, to which we
subject our audited consolidated financial statements, and may vary
materially from the audited consolidated financial information for the
same period. Any evaluation of the financial information presented in
this press release should also take into account our published audited
consolidated financial statements and the notes to those statements.
In addition, the financial information presented is not necessarily
indicative of our results for any future period.
RESULTS OF OPERATIONS
1Q10 Results Highlights -- Actual Basis
-- Net revenue contribution from IC packaging operations (including
module assembly), testing operations, EMS operations and substrates
sold to third parties was NT$22,081 million, NT$4,662 million,
NT$10,139 million, and NT$673 million, respectively, and each
represented approximately 59%, 12%, 27% and 2%, respectively, of total
net revenues for the quarter.
-- Cost of revenue was NT$29,999 million, up 135% year-over-year and up
52% sequentially.
-- Raw material cost totaled NT$17,130 million during the quarter,
representing 46% of total net revenue, compared with NT$8,166
million and 31% of total net revenue in the previous quarter.
-- Labor cost totaled NT$4,476 million during the quarter, representing
12% of total net revenue, compared with NT$3,754 million and 14% of
total net revenue in the previous quarter.
-- Depreciation, amortization and rental expenses totaled NT$4,188
million during the quarter, down 2% year-over-year and up 3%
sequentially.
-- Total operating expenses during 1Q10 were NT$3,277 million, including
NT$1,301 million in R&D and NT$1,976 million in SG&A, compared with
operating expenses of NT$2,645 million in 4Q09. Total operating
expenses as a percentage of net revenue for the current quarter were
9%, down from 15% in 1Q09 and 10% in 4Q09, respectively.
-- Operating income for the quarter totaled NT$4,279 million, up from
NT$3,962 million in the previous quarter. Operating margin decreased
to 11% in 1Q10 from 15% in 4Q09.
-- In terms of non-operating items:
-- Net interest expense was NT$292 million, up from NT$256 million a
quarter ago primarily due to higher loan balance during the quarter.
-- Net foreign exchange loss of NT$4 million was primarily attributable
to the depreciation of the U.S. dollar against the N.T. dollar.
-- Gain on equity-method investments of NT$32 million was primarily
attributable to our investment income in USI for the period prior to
acquisition.
-- Other non-operating income of NT$58 million was primarily related to
scrap sales and other miscellaneous gains. Total non-operating
expenses for the quarter was NT$206 million, compared to
non-operating expenses of NT$235 million for 1Q09 and non-operating
income of NT$10 million for 4Q09.
-- Income before tax was NT$4,073 million for 1Q10, compared to NT$3,972
million in the previous quarter. We recorded income tax expense of
NT$455 million during the quarter, compared to NT$418 million in 4Q09.
-- In 1Q10, net income was NT$3,395 million, compared to a net loss of
NT$1,567 million for 1Q09 and net income of NT$3,450 million for 4Q09.
-- Our total number of shares outstanding at the end of the quarter was
5,495,527,994, including treasury stock owned by our subsidiaries. Our
1Q10 diluted earnings per share of NT$0.63 (or US$0.098 per ADS) was
based on 5,355,311,148 weighted average
number of shares outstanding in 1Q10.
1Q10 Results Highlights -- Pro Forma Basis Assuming USI Consolidated at the Beginning of Each Applicable Period
-- Net revenue contribution from IC packaging operations, testing
operations, EMS operations and substrates sold to third parties was
NT$22,080 million, NT$4,662 million, NT$14,506 million, and NT$673
million, respectively, and each represented approximately 53%, 11%, 35%
and 1%, respectively, of total net revenues for the quarter.
-- Cost of revenues was NT$33,855 million, up 52% year-over-year and up 3%
sequentially.
-- Total operating expenses during 1Q10 were NT$3,616 million, including
NT$1,432 million in R&D and NT$2,184 million in SG&A, compared with
operating expenses of NT$3,776 million in 4Q09. Total operating
expenses as a percentage of net revenue for the current quarter were
9%, down from 12% in 1Q09 and the same as the previous quarter.
-- Operating income for the quarter totaled NT$4,450 million, down from
NT$4,504 million in the previous quarter. Operating margin was 11% in
1Q10, the same as the previous quarter.
-- Total non-operating expenses for the quarter was NT$244 million,
compared to non-operating expenses of NT$236 million for 1Q09 and
non-operating expenses of NT$22 million for 4Q09.
-- Income before tax was NT$4,214 million for 1Q10, compared to NT$4,482
million in the previous quarter. We recorded income tax expense of
NT$470 million during the quarter, compared to NT$505 million in 4Q09.
-- In 1Q10, net income was NT$3,488 million, compared to a net loss of
NT$1,407 million for 1Q09 and net income of NT$3,760 million for 4Q09.
-- Our total number of shares outstanding at the end of the quarter was
5,495,527,994, including treasury stock owned by our subsidiaries. Our
1Q10 diluted earnings per share of NT$0.63 was based on 5,449,850,174
weighted average number of shares outstanding in 1Q10.
1Q10 Results Highlights -- IC ATM(2) Basis
-- Net revenue contribution from IC packaging operations, testing
operations, and substrates sold to third parties was NT$22,088 million,
NT$4,662 million and NT$673 million, respectively, and each represented
approximately 81%, 17% and 2%, respectively, of total net revenues for
the quarter.
-- Cost of revenues was NT$20,976 million, up 65% year-over-year and up 7%
sequentially.
-- Raw material cost totaled NT$8,886 million during the quarter,
representing 32% of total net revenue, compared with NT$8,166
million and 31% of total net revenue in the previous quarter.
-- Labor cost totaled NT$4,135 million during the quarter, representing
15% of total net revenue, compared with NT$3,754 million and 14% of
total net revenue in the previous quarter.
-- Depreciation, amortization and rental expenses totaled NT$4,025
million during the quarter, down 5% year-over-year and down 1%
sequentially.
-- Total operating expenses during 1Q10 were NT$2,629 million, including
NT$1,035 million in R&D and NT$1,594 million in SG&A, compared with
operating expenses of NT$2,645 million in 4Q09. Total operating
expenses as a percentage of net revenue for the current quarter
were 10%, down from 15% in 1Q09 and the same as the previous quarter.
-- Operating income for the quarter totaled NT$3,818 million, down from
NT$3,962 million in the previous quarter. Operating margin decreased
to 14% in 1Q10 from 15% in 4Q09.
-- In terms of non-operating items:
-- Net interest expense was NT$293 million, up from NT$256 million a
quarter ago primarily due to higher loan balance during the quarter.
-- Net foreign exchange gain of NT$14 million was primarily
attributable to the depreciation of the U.S. dollar against the N.T.
dollar.
-- Gain on equity-method investments of NT$327 million was primarily
attributable to our investment income in USI for the period prior to
acquisition.
-- Other non-operating income of NT$65 million was primarily related to
scrap sales and other miscellaneous gains. Total non-operating
income for the quarter was NT$113 million, compared to non-operating
expenses of NT$235 million for 1Q09 and non-operating income of
NT$10 million for 4Q09.
-- Income before tax was NT$3,931 million for 1Q10, compared to NT$3,972
million in the previous quarter. We recorded income tax expense of
NT$395 million during the quarter, compared to NT$418 million in 4Q09.
-- In 1Q10, net income was NT$3,395 million, compared to a net loss of
NT$1,567 million for 1Q09 and net income of NT$3,450 million for 4Q09.
(2) ATM stands for Semiconductor Assembly, Testing and Material.
1Q10 Results Highlights of USI
-- Net revenue contribution from EMS operations was NT$14,506 million, up
36% year-over-year and down 3% sequentially.
-- Cost of revenues was NT$12,892 million, up 36% year-over-year and down
3% sequentially.
-- Raw material cost totaled NT$11,777 million during the quarter,
representing 81% of total net revenue, compared with NT$12,136
million and 81% of total net revenue in the previous quarter.
-- Labor cost totaled NT$487 million during the quarter, representing
3% of total net revenue, compared with NT$509 million and 3% of
total net revenue in the previous quarter.
-- Depreciation, amortization and rental expenses totaled NT$253
million during the quarter, down 29% year-over-year and up 3%
sequentially.
-- Total operating expenses during 1Q10 were NT$988 million, including
NT$398 million in R&D and NT$590 million in SG&A, compared with
operating expenses of NT$1,132 million in 4Q09. Total operating
expenses as a percentage of net revenue for the current quarter were
7%, down from 9% in 1Q09 and 8% in 4Q09, respectively.
-- Operating income for the quarter totaled NT$626 million, up from NT$535
million in the previous quarter. Operating margin was 4% in 1Q10, the
same as the previous quarter.
-- Total non-operating expenses for the quarter was NT$20 million,
compared to non-operating income of NT$63 million for 1Q09 and
non-operating income of NT$69 million for 4Q09.
-- Income before tax was NT$606 million for 1Q10, compared to NT$604
million in the previous quarter. We recorded income tax expense of
NT$74 million during the quarter, compared to NT$86 million in 4Q09.
-- In 1Q10, net income was NT$530 million, compared to a net income of
NT$264 million for 1Q09 and net income of NT$516 million for 4Q09.
LIQUIDITY AND CAPITAL RESOURCES of Actual Basis
-- As of March 31, 2010, our cash and current financial assets totaled
NT$40,417 million, compared to NT$27,577 million as of December 31,
2009.
-- Capital expenditures in 1Q10 totaled US$187 million, of which US$137
million was used for IC packaging, US$43 million was used for testing,
US$6 million was used for EMS and US$1 million was used for
interconnect materials.
-- As of March 31, 2010, we had total bank debt of NT$78,317 million,
compared to NT$63,040 million as of December 31, 2009. Total bank debt
consisted of NT$20,797 million of revolving working capital loans,
NT$1,438 million of the current portion of long-term debt, and
NT$56,082 million of long-term debt. Total unused credit lines
amounted to NT$68,534 million.
-- Current ratio as of March 31, 2010 was 1.61, compared to 1.78 as of
December 31, 2009. Net debt to equity ratio was 0.43 as of March 31,
2010.
-- Total number of employees was 42,953 as of March 31, 2010, compared to
25,032 as of March 31, 2009 and 29,538 as of Dec 31, 2009.
Business Review
IC Packaging Services(3)
-- Net revenues generated from our IC packaging operations were NT$22,088
million during the quarter, up NT$11,880 million, or 116%
year-over-year, and up NT$957 million, or 5% sequentially.
-- Net revenues from advanced substrate and leadframe-based packaging
accounted for 87% of total IC packaging net revenues during the
quarter, the same as the previous quarter.
-- Gross margin for our IC packaging operations during the quarter was
19%, up by 14 percentage points from the same quarter last year and
down 2 percentage points from the previous quarter.
-- Capital expenditures for our IC packaging operations amounted to US$137
million during the quarter, of which US$103 million was used for
wirebonding packaging capacity and US$34 million was used for wafer
bumping and flip chip packaging equipment.
-- As of March 31, 2010, there were 9,817 wirebonders in operation. 646
wirebonders were added and 344 wirebonders were disposed of during the
quarter.
-- Net revenues from flip chip packages and wafer bumping services
accounted for 15% of total packaging net revenues, up by 1 percentage
point from the previous quarter.
(3) IC packaging services include module assembly services.
Testing Services
-- Net revenues generated from our testing operations were NT$4,662
million, up NT$1,894 million, or 68% year-over-year, and up NT$99
million, or 2%, sequentially.
-- Final testing contributed 83% to total testing net revenues, the same
percentage point as the previous quarter. Wafer sort contributed 14%
to total testing net revenues, which constant with the previous
quarter. Engineering testing contributed 3% to total testing net
revenues, which remained unchanged from the previous quarter.
-- Depreciation, amortization and rental expense associated with our
testing operations amounted to NT$1,372 million, down from NT$1,512
million in 1Q09 and down from NT$1,414 million in 4Q09.
-- In 1Q10, gross margin for our testing operations was 35%, up by 30
percentage points year-over-year and the same as the previous quarter.
-- Capital spending on our testing operations amounted to US$43 million
during the quarter.
-- As of March 31, 2009, there were 1,634 testers in operation. 62 testers
were added and 31 testers were disposed of during the quarter.
EMS Services
-- Net revenues generated from our EMS operations were NT$14,506 million,
up NT$3,822 million, or 36% year-over-year, and down NT$464 million, or
3%, sequentially.
-- Computers & Peripherals products contributed 25% to total EMS net
revenues, down by 2 percentage points from the previous quarter.
Electronics Packaging & EMS products contributed 28% to total EMS net
revenues, up by 2 percentage points from the previous quarter.
Communications products contributed 21% to total EMS net revenues, down
by 2 percentage points from the previous quarter. Network Storage &
Servers products contributed 9% to total EMS net revenues, up by 1
percentage point from the previous quarter. Industrial & Automotive
products contributed 17% to total EMS net revenues, up by 1 percentage
point from the previous quarter.
-- In 1Q10, gross margin for our EMS operations was 11%, which is the same
as year-over-year and the previous quarter.
-- Capital spending on our EMS operations amounted to US$9 million during
the quarter.
Substrate Operations
-- PBGA substrate manufactured by ASE amounted to NT$2,330 million during
the quarter, up NT$1,254 million, or 117% year-over-year, and up NT$33
million, or 1% from the previous quarter. Of the total output of
NT$2,330 million, NT$673 million was from sales to external customers.
-- Gross margin for substrate operations was 24% during the quarter, up by
31 percentage points year-over-year and down by 1 percentage points
sequentially.
-- In 1Q10, our internal substrate manufacturing operations supplied 48%
(by value) of our total substrate requirements.
Customers
IC ATM consolidated Basis
-- Our five largest customers together accounted for approximately 30% of
our total net revenues in 1Q10, compared to 33% in 1Q09 and 27% in
4Q09. No single customer accounted for more than 10% of our total net
revenues.
-- Our top 10 customers contributed 44% of our total net revenues during
the quarter, compared to 47% in 1Q09 and 43% in 4Q09.
-- Our customers that are integrated device manufacturers, or IDMs,
accounted for 37% of our total net revenues during the quarter,
compared to 34% in 1Q09 and 39% in 4Q09.
USI consolidated Basis
-- Our five largest customers together accounted for approximately 63% of
our total net revenues in 1Q10, compared to 60% in 1Q09 and 66% in
4Q09. There are four customers who each individually accounted for more
than 10% of our total net revenues.
-- Our top 10 customers contributed 79% of our total net revenues during
the quarter, compared to 80% in 1Q09 and 83% in 4Q09.
About ASE, Inc.
ASE, Inc. is the world's largest independent provider of IC packaging services and testing services, including front-end engineering testing, wafer probing and final testing services. ASE, Inc.'s international customer base of more than 200 customers includes such leading names as ATI Technologies Inc., MediaTek Inc., NEC Electronics Corporation, NVIDIA Corporation, NXP Semiconductors, Qualcomm Incorporated, RF Micro Devices Inc. and STMicroelectronics N.V. With advanced technological capabilities and a global presence spanning Taiwan, China, Korea, Japan, Singapore, Malaysia and the United States, ASE, Inc. has established a reputation for reliable, high quality products and services. For more information, visit our website at http://www.aseglobal.com .
Safe Harbor Notice
This press release contains ''forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, including statements regarding our future results of operations and business prospects. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this presentation. The words ''anticipate'', ''believe'', ''estimate'', ''expect'', ''intend'', ''plan'' and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this presentation. Our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including risks associated with cyclicality and market conditions in the semiconductor industry; demand for the outsourced semiconductor packaging and testing services we offer and for such outsourced services generally; the highly competitive semiconductor industry; our ability to introduce new packaging, interconnect materials and testing technologies in order to remain competitive; our ability to successfully integrate pending and future mergers and acquisitions; international business activities; our business strategy; general economic and political conditions, including the recent global financial crisis; possible disruptions in commercial activities caused by natural or human-induced disasters; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People's Republic of China; fluctuations in foreign currency exchange rates; and other factors. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our 2008 Annual Report on Form 20-F filed on June 24, 2009.
Supplemental Financial Information
IC ATM Consolidated Operations
Amounts in NT$ Millions 1Q/10 4Q/09 1Q/09
Net Revenues 27,423 26,293 13,397
Revenues by End Application
Communications 45% 45% 49%
Computers 17% 18% 16%
Automotive and Consumer 38% 36% 36%
Others 0% 1% 1%
Revenues by Region
North America 50% 50% 54%
Europe 12% 13% 12%
Taiwan 23% 21% 20%
Japan 10% 10% 11%
Other Asia 5% 6% 3%
IC Packaging Services
Amounts in NT$ Millions 1Q/10 4Q/09 1Q/09
Net Revenues 22,088 21,131 10,208
Revenues by Packaging Type
Advanced substrate &
leadframe based 87% 87% 88%
Traditional leadframe based 6% 6% 6%
Module assembly 4% 4% 2%
Others 3% 3% 4%
Capacity
CapEx (US$ Millions)* 137 139 14
Number of Wirebonders 9,817 9,515 8,419
Testing Services
Amounts in NT$ Millions 1Q/10 4Q/09 1Q/09
Net Revenues 4,662 4,563 2,768
Revenues by Testing Type
Final test 83% 83% 86%
Wafer sort 14% 14% 10%
Engineering test 3% 3% 4%
Capacity
CapEx (US$ Millions)* 43 32 10
Number of Testers 1,634 1,603 1,572
USI Consolidated Operations
Amounts in NT$ Millions 1Q/10 4Q/09 1Q/09
Net Revenues 14,506 14,970 10,684
Revenues by End Application
Computers & Peripherals 25% 27% 27%
Communications 21% 23% 23%
Network Storage & Servers 9% 8% 10%
Electronics Packaging & EMS 28% 26% 25%
Industrial & Automotive
Products 17% 16% 15%
Capacity
CapEx (US$ Millions)* 9 5 1
* Capital expenditure amounts exclude building construction costs.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Income Statements Data - Actual Basis*
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended
Mar. 31 Dec. 31 Mar. 31
2010 2009 2009
Net revenues:
IC Packaging 22,081 21,131 10,208
Testing 4,662 4,563 2,768
EMS 10,139 -- --
Others 673 599 421
Total net revenues 37,555 26,293 13,397
Cost of revenues (29,999) (19,686) (12,739)
Gross profit 7,556 6,607 658
Operating expenses:
Research and development (1,301) (1,081) (750)
Selling, general and
administrative (1,976) (1,564) (1,319)
Total operating expenses (3,277) (2,645) (2,069)
Operating income (loss) 4,279 3,962 (1,411)
Net non-operating (expenses) income:
Interest expense - net (292) (256) (435)
Foreign exchange gain (loss) (4) 35 (107)
Gain (loss) on equity-method
investments 32 135 24
Others 58 96 283
Total non-operating (expenses)
income (206) 10 (235)
Income (loss) before tax 4,073 3,972 (1,646)
Income tax benefit (expense) (455) (418) 50
(Loss) income from continuing
operations and
before minority interest 3,618 3,554 (1,596)
Minority interest (223) (104) 29
Net income (loss) 3,395 3,450 (1,567)
Per share data:
Earnings (losses) per share
- Basic NT$0.64 NT$0.67 NT$(0.30)
- Diluted NT$0.63 NT$0.66 NT$(0.30)
Earnings (losses) per equivalent ADS
- Basic US$0.100 US$0.104 US$(0.045)
- Diluted US$0.098 US$0.102 US$(0.045)
Number of weighted average
shares used in diluted EPS
calculation (in thousands) 5,355,311 5,200,502 5,183,404
Exchange rate (NT$ per US$1) 31.95 32.26 33.82
* Figures above reflects consolidation of USI starting in February 2010.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Income Statements Data - Pro Forma Basis Assuming USI
Consolidated at the Beginning of Each Applicable Period
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended
Mar. 31 Dec. 31 Mar. 31
2010 2009 2009
Net revenues:
IC Packaging 22,080 21,122 10,204
Testing 4,662 4,563 2,768
EMS 14,506 14,970 10,684
Others 673 599 421
Total net revenues 41,921 41,254 24,077
Cost of revenues (33,855) (32,974) (22,231)
Gross profit 8,066 8,280 1,846
Operating expenses:
Research and development (1,432) (1,517) (1,109)
Selling, general and
administrative (2,184) (2,259) (1,894)
Total operating expenses (3,616) (3,776) (3,003)
Operating income (loss) 4,450 4,504 (1,157)
Net non-operating (expenses) income:
Total non-operating (expenses)
income (236) (22) (224)
Income (loss) before tax 4,214 4,482 (1,381)
Income tax benefit (expense) (470) (505) 3
(Loss) income from continuing
operations and
before minority interest 3,744 3,977 (1,378)
Minority interest (256) (217) (29)
Net income (loss) 3,488 3,760 (1,407)
Per share data:
Earnings (losses) per share
- Basic NT$0.65 NT$0.70 NT$(0.26
- Diluted NT$0.63 NT$0.69 NT$(0.26)
Number of weighted average
shares used in diluted EPS
calculation (in thousands) 5,449,850 5,418,669 5,401,571
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Income Statements Data - IC ATM Basis
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended
Mar. 31 Dec. 31 Mar. 31
2010 2009 2009
Net revenues:
IC Packaging 22,088 21,131 10,208
Testing 4,662 4,563 2,768
Others 673 599 421
Total net revenues 27,423 26,293 13,397
Cost of revenues (20,976) (19,686) (12,739)
Gross profit 6,447 6,607 658
Operating expenses:
Research and development (1,035) (1,081) (750)
Selling, general and
administrative (1,594) (1,564) (1,319)
Total operating expenses (2,629) (2,645) (2,069)
Operating income (loss) 3,818 3,962 (1,411)
Net non-operating (expenses) income:
Interest expense - net (293) (256) (435)
Foreign exchange gain (loss) 14 35 (107)
Gain (loss) on equity-method
investments 327 135 24
Others 65 96 283
Total non-operating (expenses)
income 113 10 (235)
Income (loss) before tax 3,931 3,972 (1,646)
Income tax benefit (expense) (395) (418) 50
(Loss) income from continuing
operations and
before minority interest 3,536 3,554 (1,596)
Minority interest (141) (104) 29
Net income (loss) 3,395 3,450 (1,567)
Per share data:
Earnings (losses) per share
- Basic NT$0.64 NT$0.67 NT$(0.30)
- Diluted NT$0.63 NT$0.66 NT$(0.30)
Number of weighted average
shares used in diluted EPS
calculation (in thousands) 5,355,311 5,200,502 5,183,404
Universal Scientific Industrial Co., Ltd.
Summary of Consolidated Income Statements Data
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended
Mar. 31 Dec. 31 Mar. 31
2010 2009 200
Net revenues:
Total net revenues 14,506 14,970 10,684
Cost of revenues (12,892) (13,303) (9,501)
Gross profit 1,614 1,667 1,183
Operating expenses:
Research and development (398) (436) (360)
Selling, general and
administrative (590) (696) (574)
Total operating expenses (988) (1,132) (934)
Operating income (loss) 626 535 249
Net non-operating (expenses) income:
Total non-operating (expenses)
income (20) 69 63
Income (loss) before tax 606 604 312
Income tax benefit (expense) (74) (86) (47)
(Loss) income from continuing
operations and
before minority interest 532 518 265
Minority interest (2) (2) (1)
Net income (loss) 530 516 264
Per share data:
Earnings (losses) per share
- Basic NT$0.50 NT$0.49 NT$0
- Diluted NT$0.49 NT$0.47 NT$0.25
Number of weighted average
shares used in diluted EPS
calculation (in thousands) 1,086,926 1,077,941 1,065,162
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Balance Sheet Data - Actual Basis*
(In NT$ millions)
(Unaudited)
As of Mar.31, As of Dec.31,
2010 2009
Current assets:
Cash and cash equivalents 36,505 22,557
Financial assets - current 3,912 5,020
Notes and accounts receivable 33,396 17,812
Inventories 20,687 12,206
Others 5,623 3,818
Total current assets 100,123 61,413
Financial assets - non current 2,430 5,160
Properties - net 86,748 79,364
Intangible assets 16,504 12,233
Others 3,993 3,891
Total assets 209,798 162,061
Current liabilities:
Short-term debts - revolving credit 20,797 13,025
Current portion of long-term debts 1,438 935
Notes and accounts payable 23,787 8,954
Others 16,263 11,660
Total current liabilities 62,285 34,574
Long-term debts 56,082 49,080
Other liabilities 3,991 3,693
Total liabilities 122,358 87,347
Minority interest 7,235 3,098
Shareholders' equity 80,205 71,616
Total liabilities & shareholders' equity 209,798 162,061
Current Ratio 1.61 1.78
Net Debt to Equity 0.43 0.47
* Figures above reflects consolidation of USI starting in February 2010.
Universal Scientific Industrial Co., Ltd.
Summary of Consolidated Balance Sheet Data
(In NT$ millions)
(Unaudited)
As of Mar. 31, As of Dec. 31,
2010 2009
Current assets:
Cash and cash equivalents 10,144 8,505
Financial assets - current 597 553
Notes and accounts receivable 14,054 14,119
Inventories 6,892 5,301
Others 541 481
Total current assets 32,228 28,959
Financial assets - non current 575 636
Properties - net 4,886 4,917
Intangible assets 155 157
Others 941 966
Total assets 38,785 35,635
Current liabilities:
Short-term debts - revolving credit 5,219 3,962
Current portion of long-term debts 140 --
Notes and accounts payable 14,160 12,972
Others 2,104 2,090
Total current liabilities 21,623 19,024
Long-term debts 210 100
Other liabilities 334 333
Total liabilities 22,167 19,457
Minority interest 33 31
Shareholders' equity 16,585 16,147
Total liabilities & shareholders' equity 38,785 35,635
Contact:
ASE, Inc.
Room 1901, No. 333, Section 1
Keelung Road, Taipei, Taiwan, 110
Tel: +886-2-8780-5489
Fax: +886-2-2757-6121
http://www.aseglobal.com
Joseph Tung, CFO / Vice President
Allen Kan, Manager
[email protected]
Clare Lin, Director (US Contact)
[email protected]
Tel: +1-408-986-6524
SOURCE Advanced Semiconductor Engineering, Inc.
Share this article