Advanced Semiconductor Engineering, Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year of 2015

29 Jan, 2016, 09:02 ET from Advanced Semiconductor Engineering, Inc.

TAIPEI, Taiwan, R.O.C., Jan. 29, 2016 /PRNewswire/ -- Advanced Semiconductor Engineering, Inc. (TAIEX: 2311, NYSE: ASX) ("We", "ASE", or the "Company"), the world's largest independent provider of packaging and testing services reported unaudited consolidated financial results for the fourth quarter and full year of 2015 at an earnings release conference earlier today. As the Company's equity method investee Siliconware Precision Industries Co., Ltd. ("SPIL") announced its fourth quarter and full year of 2015 on the same day, the Company hereby amends and restates the previously announced unaudited financial results in their entirety to reflect SPIL's latest publicly announced financial results as follows: Unaudited net revenues[1] of NT$75,548 million for the fourth quarter of 2015 (4Q15), down by 1% year-over-year and up by 4% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$4,562 million, down from a net income attributable to shareholders of the parent of NT$7,864 million in 4Q14 and down from a net income attributable to shareholders of the parent of NT$6,368 million in 3Q15.  Basic earnings per share for the quarter were NT$0.60 (or US$0.092 per ADS), compared to basic earnings per share of NT$1.02 for 4Q14 and NT$0.83 for 3Q15. Diluted earnings per share for the quarter were NT$0.58 (or US$0.089 per ADS), compared to diluted earnings per share of NT$0.99 for 4Q14 and NT$0.69 for 3Q15.

For the full year of 2015, the Company reported net revenues of NT$283,302 million and net income attributable to shareholders of the parent of NT$19,051 million. Basic earnings per share for the full year of 2015 were NT$2.49 (or US$0.393 per ADS).  Diluted earnings per share for the full year of 2015 were NT$2.39 (or US$0.378 per ADS).

RESULTS OF OPERATIONS

4Q15 Results Highlights – Consolidated

  • Net revenue contribution from packaging operations, testing operations, EMS operations, substrates sold to third parties and others, each represented approximately 39%, 8%, 52%, 1% and 0%, respectively, of total net revenues for the quarter.
  • Cost of revenue was NT$62,265 million for the quarter, up by 3% year-over-year and up from NT$59,883 million in 3Q15.
    • Raw material cost totaled NT$39,042 million during the quarter, representing 52% of total net revenues, compared with NT$37,086 million and 51% of total net revenues in 3Q15.
    • Labor cost totaled NT$8,613 million during the quarter, representing 11% of total net revenues, compared with NT$8,742 million and 12% of total net revenues in 3Q15.
    • Depreciation, amortization and rental expenses totaled NT$6,967 million during the quarter, up by 2% year-over-year and down by 2% sequentially.
  • Gross margin decreased 0.2 percentage points to 17.6% in 4Q15 from 17.8% in 3Q15.
  • Total operating expenses during 4Q15 were NT$6,440 million, including NT$2,804 million in R&D and NT$3,636 million in SG&A, compared with total operating expenses of NT$6,605 million in 3Q15.  Total operating expenses as a percentage of net revenues were 9% in 4Q15, remained the same as 4Q14 and 3Q15.
  • Operating income for the quarter totaled NT$6,843 million, up from NT$6,382 million in 3Q15.  Operating margin was 9.1% in 4Q15 compared to 8.8% in 3Q15.
  • In terms of non-operating items:
    • Net interest expense was NT$538 million, up from NT$492 million in 3Q15.
    • Net foreign exchange gain of NT$428 million was primarily attributable to the depreciation of the U.S. dollar against the NT dollar.
    • Loss on equity-method investments of NT$40 million was primarily attributable to the share of profit from our investment in SPIL.[2]
    • Loss on valuation of financial assets and liabilities was NT$722 million.
    • Other net non-operating income of NT$179 million was primarily related to miscellaneous income.  Total non-operating expenses for the quarter were NT$693 million, compared to total non-operating expenses of NT$268 million for 4Q14 and total non-operating income of NT$1,428 million for 3Q15.
  • Income before tax was NT$6,150 million for 4Q15, compared to NT$7,810 million in 3Q15.  We recorded income tax expenses of NT$1,266 million during the quarter, compared to NT$1,127 million in 3Q15.
  • In 4Q15, net income attributable to shareholders of the parent was NT$4,562 million, compared to net income attributable to shareholders of the parent of NT$7,864 million for 4Q14 and net income attributable to shareholders of the parent of NT$6,368 million for 3Q15.
  • Our total number of shares outstanding at the end of the quarter was 7,909,741,896, including treasury stock owned by our subsidiaries.  Our 4Q15 basic earnings per share of NT$0.60 (or US$0.092 per ADS) were based on 7,642,022,605 weighted average number of shares outstanding in 4Q15. Our 4Q15 diluted earnings per share of NT$0.58 (or US$0.089 per ADS) were based on 7,839,518,350 weighted average number of shares outstanding in 4Q15.

4Q15 Results Highlights – IC ATM[3]

  • Net revenue contribution from IC ATM operations was NT$38,406 million for the quarter, down by 12% year-over-year and down by 4% sequentially. Net revenue contribution from packaging operations, testing operations, substrates sold to third parties and others was NT$31,121 million, NT$6,356 million, NT$910 million, and NT$19 million, respectively, and each represented approximately 81%, 17%, 2% and 0%, respectively, of total net revenues for the quarter.
  • Cost of revenues was NT$28,414 million for the quarter, down by 6% year-over-year and down by 3% sequentially.
    • Raw material cost totaled NT$8,305 million during the quarter, representing 22% of total net revenues, compared with NT$8,641 million and 22% of total net revenues in 3Q15.
    • Labor cost totaled NT$7,281 million during the quarter, representing 19% of total net revenues, compared with NT$7,442 million and 19% of total net revenues in 3Q15.
    • Depreciation, amortization and rental expenses totaled NT$6,323 million during the quarter, down by 2% year-over-year and down by 2% sequentially
  • Gross margin decreased 0.7 percentage points to 26.0% in 4Q15 from 26.7% in 3Q15.
  • Total operating expenses during 4Q15 were NT$4,637 million, including NT$2,072 million in R&D and NT$2,565 million in SG&A, compared with total operating expenses of NT$5,007 million in 3Q15. Total operating expenses as a percentage of net revenues were 12% in 4Q15, up from 11% in 4Q14 and down from 13% in 3Q15.
  • Operating income for the quarter totaled NT$5,355 million, down from NT$5,644 million in 3Q15. Operating margin was 13.9% in 4Q15 compared to 14.2% in 3Q15.

4Q15 Results Highlights – EMS

  • Net revenue contribution from EMS operations for the quarter was NT$39,347 million, up by 6% year-over-year and up by 9% sequentially.
  • Cost of revenues for the quarter was NT$36,473 million, up by 6% year-over-year and up by 10% sequentially.
    • Raw material cost totaled NT$30,870 million during the quarter, representing 78% of total net revenues, compared with NT$28,234 million and 78% of total net revenues in 3Q15.
    • Labor cost totaled NT$1,332 million during the quarter, representing 3% of total net revenues, compared with NT$1,300 million and 4% of total net revenues in 3Q15.
    • Depreciation, amortization and rental expenses totaled NT$681 million during the quarter, up by 83% year-over-year and up by 6% sequentially
  • Gross margin decreased to 7.3% in 4Q15 from 8.3% in 3Q15.
  • Total operating expenses during 4Q15 were NT$1,798 million, including NT$760 million in R&D and NT$1,038 million in SG&A, compared with total operating expenses of NT$1,606 million in 3Q15. Total operating expenses as a percentage of net revenues were 5% in 4Q15, remained the same as 4Q14 and up from 4% in 3Q15.
  • Operating income for the quarter totaled NT$1,076 million, down from NT$1,379 million in 3Q15. Operating margin decreased to 2.7% in 4Q15 from 3.8% in 3Q15.

2015 Full-Year Results Highlights – Consolidated

  • Net revenues for the full year of 2015 amounted to NT$283,302 million, up by 10% from 2014. The revenue contribution from packaging operations, testing operations, EMS operations, substrates sold to third parties and others represented approximately 41%, 9%, 49%, 1% and 0%, respectively, of total net revenues for the year.
  • Cost of revenue for the year of 2015 was NT$233,153 million, compared with NT$203,002 million in 2014.
    • Raw material cost totaled NT$141,779 million during the year, representing 50% of total net revenues, compared with NT$116,999 million and 46% of total net revenues in the 2014.
    • Labor cost totaled NT$34,706 million during the year, representing 12% of total net revenues, compared with NT$33,243 million and 13% of total net revenues in 2014.
    • Depreciation, amortization and rental expenses totaled NT$28,192 million during the year, representing 10% of total net revenues, compared with NT$25,387 million and 10% of total net revenues in 2014
  • Gross margin decreased 3.2 percentage points to 17.7% in 2015 from 20.9% in 2014.
  • Total operating expenses during 2015 were NT$25,223 million, including NT$10,928 million in R&D and NT$14,295 million in SG&A. Total operating expenses as a percentage of net revenues were 9% in 2015, and remained the same as 2014.
  • Operating income for the year was NT$24,926 million, compared to operating income of NT$ 29,646 million for the previous year. Operating margin decreased to 8.8% in 2015 from 11.6% in 2014.
  • Total non-operating expenses for the year were NT$60 million, compared to total non-operating expenses of NT$1,098 million for 2014.
  • Income before tax was NT$24,866 million for 2015. We recognized an income tax expense of NT$4,845 million during the year.
  • In 2015, net income attributable to shareholders of the parent amounted to NT$19,051 million, compared with a net income attributable to shareholders of the parent of NT$23,637 million in 2014.
  • Our total number of shares outstanding at the end of the year was 7,909,741,896, including treasury stock owned by our subsidiaries. Our 2015 basic earnings per share of NT$2.49 (or US$0.393 per ADS) were based on 7,652,772,685 weighted average number of shares outstanding in 2015. Our 2015 diluted earnings per share of NT$2.39 (or US$0.378 per ADS) were based on 8,249,519,459 weighted average number of shares outstanding in 2015.

2015 Full-Year Results Highlights – IC ATM

  • Net revenue contribution from IC ATM operations for the full year of 2015 amounted to NT$154,544 million, down by 3% from 2014. The revenue contribution from packaging operations, testing operations, substrates sold to third parties and others was NT$125,714 million, NT$25,192 million, NT$3,564 million, and NT$74 million, respectively, and represented approximately 82%, 16%, 2%, and 0%, respectively, of total net revenues for the year.
  • Cost of revenues for the full year of 2015 was NT$114,402 million, compared with NT$115,006 million in 2014.
    • Raw material cost totaled NT$33,745 million during the year, representing 22% of total net revenues, compared with NT$36,409 million and 23% of total net revenues in 2014.
    • Labor cost totaled NT$29,371 million during the year, representing 19% of total net revenues, compared with NT$29,519 million and 18% of total net revenues in 2014.
    • Depreciation, amortization and rental expenses totaled NT$25,867 million during the year, representing 17% of total net revenues, compared with NT$24,189 million and 15% of total net revenues in 2014
  • Gross margin decreased to 26.0% in 2015 from 28.0% in 2014.
  • Total operating expenses during 2015 were NT$18,496 million, including NT$8,075 million in R&D and NT$10,421 million in SG&A. Total operating expenses as a percentage of net revenues was 12% in 2015, up from 11% in 2014.
  • Operating income for the year was NT$21,646 million, compared to operating income of NT$26,500 million for 2014. Operating margin decreased to 14.0% in 2015 from 16.6% in 2014.

2015 Full-Year Results Highlights – EMS

  • Net revenue contribution from EMS operations for the full year of 2015 amounted to NT$138,428 million, up by 31% from 2014.
  • Cost of revenues was NT$128,098 million, up by 33% from 2014.
    • Raw material cost totaled NT$107,586 million during the year, representing 78% of total net revenues, compared with NT$80,638 million and 76% of total net revenues in 2014.
    • Labor cost totaled NT$5,335 million during the year, representing 4% of total net revenues, compared with NT$3,724 million and 4% of total net revenues in 2014.
    • Depreciation, amortization and rental expenses totaled NT$2,469 million during the year, representing 2% of total net revenues, compared with NT$1,169 million and 1% of total net revenues in 2014
  • Gross margin decreased to 7.5% in 2015 from 8.8% in 2014.
  • Total operating expenses during 2015 were NT$6,724 million, including NT$2,950 million in R&D and NT$3,774 million in SG&A. Total operating expenses as a percentage of net revenues was 5% in 2015, and remained the same as 2014.
  • Operating income for the year was NT$3,606 million, compared to operating income of NT$3,666 million for 2014. Operating margin decreased to 2.6% in 2015 from 3.5% in 2014.

LIQUIDITY AND CAPITAL RESOURCES

  • As of December 31, 2015, our cash and current financial assets totaled NT$59,115 million, compared to NT$45,568 million as of September 30, 2015.
  • Capital expenditures in 4Q15 totaled US$90 million, of which US$64 million were used for packaging, US$18 million for testing, US$5 million for EMS and US$3 million for interconnect materials.
  • For the full year of 2015, we spent US$583 million for capital expenditures, including US$353 million for packaging, US$138 million for testing, US$72 million for EMS, US$18 million for interconnect materials and US$2 million for real estate.
  • As of December 31, 2015, we had total debt of NT$120,361 million, compared to NT$124,546 million as of September 30, 2015. Total debt consisted of NT$36,983 million of short-term borrowings, NT$16,843 million of the current portion of bonds payable, long-term borrowings and capital lease obligations and NT$66,535 million of bonds payable, long-term borrowings and capital lease obligations. Total unused credit lines amounted to NT$159,253 million.
  • Current ratio as of December 31, 2015 was 1.30, compared to 1.31 as of September 30, 2015. Net debt to equity ratio was 0.36 as of December 31, 2015.
  • Total number of employees was 65,695 as of December 31, 2015, compared to 68,100 as of December 31, 2014 and 67,116 as of September 30, 2015.

BUSINESS REVIEW

Packaging Operations[4]

  • Net revenues generated from our packaging operations were NT$31,121 million during the quarter, down by NT$5,238 million, or by 14% year-over-year, and down by NT$1,368 million, or by 4% sequentially.
  • Net revenues from advanced packaging accounted for 33% of our total packaging net revenues during the quarter, down by 1 percentage point from 3Q15. Net revenues from IC wirebonding accounted for 58% of our total packaging net revenues during the quarter, up by 2 percentage points from 3Q15. Net revenues from discrete and others accounted for 9% of our total packaging net revenues during the quarter, down by 1 percentage point from 3Q15.
  • Gross margin for our packaging operations during the quarter was 23.6%, down by 6.0 percentage points year-over-year and down by 1.2 percentage points from 3Q15.
  • Capital expenditures for our packaging operations amounted to US$64 million during the quarter, of which US$29 million were used for purchases of wafer bumping and flip chip packaging equipment and US$35 million for common equipment purchases, including SiP equipment purchases.
  • As of December 31, 2015, there were 15,568 wirebonders in operation. 1 wirebonder was added and 50 wirebonders were disposed of during the quarter.

Testing Operations

  • Net revenues generated from our testing operations were NT$6,356 million during the quarter, down by NT$307 million, or by 5% year-over-year, and down by NT$70 million, or by 1% sequentially.
  • Final testing accounted for 77% of our total testing net revenues, up by 1 percentage point from the previous quarter. Wafer sort accounted for 19% of our total testing net revenues, down by 1 percentage point from 3Q15. Engineering testing accounted for 4% of our total testing net revenues, remained the same as 3Q15.
  • Depreciation, amortization and rental expense associated with our testing operations amounted to NT$1,676 million during the quarter, up from NT$1,669 million in 4Q14 and down from NT$1,708 million in 3Q15.
  • In 4Q15, gross margin for our testing operations was 37.6%, down by 1.3 percentage points year-over-year and up by 1.5 percentage point from the previous quarter.
  • Capital expenditures for our testing operations amounted to US$18 million during the quarter.
  • As of December 31, 2015, there were 3,435 testers in operation. 55 new testers were added and 37 testers were disposed of during the quarter.

EMS Operations

  • Net revenues generated from our EMS operations were NT$39,347 million during the quarter, up by NT$2,127 million, or by 6% year-over-year, and up by NT$3,186 million, or by 9% sequentially.
  • Communications products accounted for 64% of our total net revenues from EMS operations for the quarter, up by 8 percentage points from 3Q15. Computing products accounted for 15% of our total net revenues from EMS operations, up by 2 percentage points from 3Q15. Consumer products accounted for 11% of our total net revenues from EMS operations, down by 8 percentage points from 3Q15. Industrial products accounted for 5% of our total net revenues from EMS operations, down by 2 percentage points from 3Q15. Automotive products accounted for 4% of our total net revenues from EMS operations, remained the same as the previous quarter.
  • In 4Q15, gross margin for our EMS operations was 7.3%, down by 0.6 percentage points year-over-year and down by 1.0 percentage points from the previous quarter.
  • Capital expenditures for our EMS operations amounted to US$5 million during the quarter.

Substrate Operations

  • PBGA substrate manufactured by ASE amounted to NT$1,981 million during the quarter, down by NT$302 million, or by 13% year-over-year, and up by NT$27 million, or by 1% from 3Q15. Of the total output of NT$1,981 million, NT$798 million was from sales to external customers.
  • Gross margin for substrate operations was 13.0% during the quarter, down by 6.2 percentage points year-over-year and up by 1.9 percentage points from 3Q15.
  • In 4Q15, our internal substrate manufacturing operations supplied 25% (by value) of our total substrate requirements.

Customers IC ATM consolidated Basis

  • Our five largest customers together accounted for approximately 37% of our total net revenues in 4Q15, compared to 42% in 4Q14 and 38% in 3Q15. One customer accounted for more than 10% of our total net revenues in 4Q15.
  • Our top 10 customers contributed 54% of our total net revenues during the quarter, compared to 56% in 4Q14 and 53% in 3Q15.
  • Our customers that are integrated device manufacturers, or IDMs, accounted for 33% of our total net revenues during the quarter, compared to 31% in 4Q14 and 35% in 3Q15.

EMS Basis

  • Our five largest customers together accounted for approximately 85% of our total net revenues in 4Q15, compared to 78% in 4Q14 and 85% in 3Q15. One customer accounted for more than 10% of our total net revenues in 4Q15.
  • Our top 10 customers contributed 92% of our total net revenues during the quarter, compared to 88% in 4Q14 and 92% in 3Q15.

OUTLOOK Based on our current business outlook and exchange rate assumptions, management projects overall performance for the first quarter of 2016 to be as follows:

  • IC ATM capacity should stay flat and blended utilization rate should be down high single digits sequentially;
  • IC ATM gross margin should be approaching 1Q14 levels;
  • EMS business should decline moderately on a year-over-year basis;
  • EMS gross margin should decline slightly quarter-over-quarter.

About ASE, Inc. ASE, Inc. is the world's largest independent provider of packaging services and testing services, including front-end engineering testing, wafer probing and final testing services.  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, please 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 press release.  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 press release. 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 or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People's Republic of China; general economic and political conditions; the recent global economic crisis; possible disruptions in commercial activities caused by natural or human-induced disasters; 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 2014 Annual Report on Form 20-F filed on March 18, 2015.

IR Contact:

Michelle Jao, Manager

mjao@iselabs.com

Tel: +1.510.687.2481

http://www.aseglobal.com

Grace Teng, Manager

grace_teng@aseglobal.com

Tel: +886.2.6636.5678

 

Supplemental Financial Information

IC ATM Consolidated Operations

Amounts in NT$ Millions

4Q/15

3Q/15

4Q/14

Net Revenues

38,406

39,862

43,884

Revenues by Application

Communication

55%

55%

58%

Computer

12%

11%

11%

Automotive, Consumer & Others

33%

34%

31%

Revenues by Region

North America

61%

63%

65%

Europe

10%

10%

9%

Taiwan

17%

17%

16%

Japan

5%

5%

5%

Other Asia

7%

5%

5%

 

Packaging Operations

Amounts in NT$ Millions

4Q/15

3Q/15

4Q/14

Net Revenues

31,121

32,489

36,359

Revenues by Packaging Type

Advanced Packaging

33%

34%

38%

IC Wirebonding

58%

56%

53%

Discrete and Others

9%

10%

9%

Capacity

CapEx (US$ Millions)*

64

83

65

Number of Wirebonders

15,568

15,617

15,792

 

Testing Operations

Amounts in NT$ Millions

4Q/15

3Q/15

4Q/14

Net Revenues

6,356

6,426

6,663

Revenues by Testing Type

Final test

77%

76%

75%

Wafer sort

19%

20%

21%

Engineering test

4%

4%

4%

Capacity

CapEx (US$ Millions)*

18

25

26

Number of Testers

3,435

3,417

3,267

 

EMS Operations

Amounts in NT$ Millions

4Q/15

3Q/15

4Q/14

Net Revenues

39,347

36,161

37,220

Revenues by End Application

Communication

64%

56%

67%

Computer

15%

13%

13%

Consumer

11%

19%

7%

Industrial

5%

7%

8%

Automotive

4%

4%

5%

Others

1%

1%

0%

Capacity

CapEx (US$ Millions)*

5

24

55

* Capital expenditure excludes building construction costs.

 

Advanced Semiconductor Engineering, Inc.

Summary of Consolidated Statement of Comprehensive Income Data[5]

(In NT$ millions, except per share data)

(Unaudited)

For the three months ended

For the year ended

Dec. 31

2015

Sep. 30

2015

Dec. 31

2014

Dec. 31

2015

Dec. 31

2014

Net revenues:

Packaging

29,093

29,575

31,942

116,607

121,336

Testing

6,356

6,426

6,663

25,192

25,875

Direct Material

798

762

861

3,260

3,546

EMS

39,301

36,107

37,178

138,242

105,785

Others

-

-

-

1

49

Total net revenues

75,548

72,870

76,644

283,302

256,591

Cost of revenues

(62,265)

(59,883)

(60,233)

(233,153)

(203,002)

Gross profit

13,283

12,987

16,411

50,149

53,589

Operating expenses:

Research and development

(2,804)

(2,844)

(2,769)

(10,928)

(10,290)

Selling, general and administrative

(3,636)

(3,761)

(3,795)

(14,295)

(13,653)

Total operating expenses

(6,440)

(6,605)

(6,564)

(25,223)

(23,943)

Operating income

6,843

6,382

9,847

24,926

29,646

Net non-operating (expenses) income:

Interest expense - net

(538)

(492)

(546)

(2,027)

(2,081)

Foreign exchange gain (loss)

428

(2,520)

(1,051)

(713)

(1,222)

Gain (loss) on equity-method investments2

(40)

29

(28)

(61)

(109)

Gain (loss) on valuation of financial assets and liabilities

 

(722)

 

4,502

 

1,190

 

2,462

 

1,840

Others

179

(91)

167

279

474

Total non-operating income (expenses)

(693)

1,428

 

(268)

(60)

(1,098)

Income before tax

6,150

7,810

9,579

24,866

28,548

Income tax expense

(1,266)

(1,127)

(1,475)

(4,845)

(4,266)

Income from continuing operations and

before noncontrolling interest

4,884

6,683

8,104

20,021

24,282

Noncontrolling interest

(322)

(315)

(240)

(970)

(645)

Net income attributable to

shareholders of the parent

 

4,562

 

6,368

 

7,864

 

19,051

 

23,637

Per share data:

Earnings (losses) per share

– Basic

NT$0.60  

NT$0.83

NT$1.02   

NT$2.49 

NT$3.07 

– Diluted

  NT$0.58

  NT$0.69

  NT$0.99

  NT$2.39

  NT$2.96

Earnings (losses) per equivalent ADS

– Basic

  US$0.092

  US$0.132

  US$0.167

  US$0.393

  US$0.509

– Diluted

  US$0.089

  US$0.109

  US$0.162

  US$0.378

  US$0.489

Number of weighted average shares used in

diluted EPS calculation (in thousands)

7,839,518

8,230,923

8,192,428

8,249,519

8,220,694

Exchange rate (NT$ per US$1)

32.55

31.69

30.61

31.65

30.20

 

Advanced Semiconductor Engineering, Inc.

Summary of Consolidated Statement of Comprehensive Income Data – IC ATM[5]

(In NT$ millions, except per share data)

(Unaudited)

For the three months ended

For the year ended

Dec. 31

2015

Sep. 30

2015

Dec. 31

2014

Dec. 31

2015

Dec. 31

2014

Net revenues:

Packaging

31,121

32,489

36,359

125,714

130,287

Testing

6,356

6,426

6,663

25,192

25,875

Direct Material

910

928

862

3,564

3,550

Others

19

19

-

74

-

Total net revenues

38,406

39,862

43,884

154,544

159,712

Cost of revenues

(28,414)

(29,211)

(30,112)

(114,402)

(115,006)

Gross profit

9,992

10,651

13,772

40,142

44,706

Operating expenses:

Research and development

(2,072)

(2,125)

(2,137)

(8,075)

(8,150)

Selling, general and administrative

(2,565)

(2,882)

(2,704)

(10,421)

(10,056)

Total operating expenses

(4,637)

(5,007)

(4,841)

(18,496)

(18,206)

Operating income

5,355

5,644

8,931

21,646

26,500

Net non-operating (expenses) income:

Interest expense - net

(584)

(540)

(547)

(2,143)

(2,141)

Foreign exchange gain (loss)

364

(1,837)

(1,005)

(311)

(1,199)

Gain (loss) on equity-method investments2

869

(63)

633

2,261

2,174

Gain (loss) on valuation of financial assets and liabilities

 

(622)

 

4,433

 

1,094

 

2,166

 

1,568

Others

336

(204)

167

(9)

599

Total non-operating income (expenses)

363

1,789

 

342

1,964

1,001

Income before tax

5,718

7,433

9,273

 

23,610

27,501

Income tax expense

(1,105)

(1,016)

(1,344)

(4,367)

(3,675)

Income from continuing operations and

before noncontrolling interest

4,613

6,417

7,929

19,243

23,826

Noncontrolling interest

(51)

(49)

(65)

(192)

(189)

Net income attributable to

shareholders of the parent

 

4,562

 

6,368

 

7,864

 

19,051

 

23,637

Per share data:

Earnings (losses) per share

– Basic

NT$0.60  

NT$0.83   

NT$1.02  

NT$2.49   

NT$3.07  

– Diluted

  NT$0.58

  NT$0.69

  NT$0.99

  NT$2.39

  NT$2.96

Number of weighted average shares used in

diluted EPS calculation (in thousands)

7,839,518

8,230,923

8,192,428

8,249,519

8,220,694

 

Advanced Semiconductor Engineering, Inc.

Summary of Consolidated Statement of Comprehensive Income Data – EMS[5]

(In NT$ millions, except per share data)

(Unaudited)

For the three months ended

For the year ended

Dec. 31

2015

Sep. 30

2015

Dec. 31

2014

Dec. 31

2015

Dec. 31

2014

Net revenues:

Total net revenues

39,347

36,161

37,220

138,428

105,871

Cost of revenues

(36,473)

(33,176)

(34,293)

(128,098)

(96,556)

Gross profit

2,874

2,985

2,927

10,330

9,315

Operating expenses:

Research and development

(760)

(746)

(660)

(2,950)

(2,235)

Selling, general and administrative

(1,038)

(860)

(1,040)

(3,774)

(3,414)

Total operating expenses

(1,798)

(1,606)

(1,700)

(6,724)

(5,649)

Operating income

1,076

1,379

1,227

3,606

3,666

Net non-operating (expenses) income:

Total non-operating income

(64)

(558)

114

 

17

417

Income before tax

1,012

821

1,341

 

3,623

4,083

Income tax expense

(170)

(120)

(140)

(510)

(622)

Income from continuing operations and

before noncontrolling interest

842

701

1,201

3,113

3,461

Noncontrolling interest

(269)

(272)

(175)

(781)

(463)

Net income attributable to

shareholders of the parent

 

573

 

429

 

1,026

 

2,332

 

2,998

 

Advanced Semiconductor Engineering, Inc.

Summary of Consolidated Balance Sheet Data

(In NT$ millions)

(Unaudited)

As of Dec. 31, 2015

As of Sep. 30, 2015

Current assets:

Cash and cash equivalents

55,251

42,410

Financial assets – current

3,864

3,158

Notes and accounts receivable

44,931

53,156

Inventories

48,972

52,706

Others

3,715

5,741

Total current assets

156,733

 

157,171

 

Financial assets – non current & Investments – equity method2

 

38,320

 

37,887

Property plant and equipment

149,997

152,981

Intangible assets

11,889

11,959

Prepaid lease payments

2,556

2,610

Others

5,765

5,844

Total assets

365,260

368,452

Current liabilities:

Short-term borrowings

36,983

45,747

Current portion of bonds payable

14,686

2,578

Current portion of long-term borrowings & capital lease obligations

 

2,157

 

2,028

Notes and accounts payable

34,139

39,700

Others

32,501

29,861

Total current liabilities

120,466

 

119,914

 

Bonds payable

23,740

35,804

Long-term borrowings & capital lease obligations

42,795

38,389

Other liabilities

9,831

10,062

Total liabilities

196,832

 

204,169

 

Shareholders of the parent

156,924

153,529

Noncontrolling interest

11,504

 

10,754

 

Total liabilities & shareholders' equity

365,260

368,452

Current Ratio

1.30

 

1.31

 

Net Debt to Equity

0.36

 

0.48

 

 

[1]

All financial information presented in this press release is unaudited, consolidated and prepared in accordance with Taiwan-IFRS (International Financial Reporting Standards as endorsed for use in the R.O.C.).  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 of operations for any future period.

[2]

The audited financial statements of SPIL are unavailable.  The share of profit from our investment in SPIL is based on SPIL's public announcement.

[3]

ATM stands for Semiconductor Assembly, Testing and Material.

[4]

IC packaging services include module assembly services.

[5]

Starting in 2015, we prepare financial statements in accordance with Taiwan-IFRS 2013 version. Under Taiwan-IFRS 2013 version, the impact of some newly effected GAAP shall be retroactively applied. The consolidated statements of comprehensive income for the three months and for the year ended December 31, 2014 have been adjusted accordingly.

SOURCE Advanced Semiconductor Engineering, Inc.



RELATED LINKS

http://www.aseglobal.com