Advanced Semiconductor Engineering, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter of 2015

Oct 29, 2015, 03:00 ET from Advanced Semiconductor Engineering, Inc.

TAIPEI, Taiwan, Oct. 29, 2015 /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, today reported unaudited net revenues[1] of NT$72,870 million for the third quarter of 2015 (3Q15), up by 9% year-over-year and up by 4% sequentially.  Net income attributable to shareholders of the parent for the quarter totaled NT$6,368 million, down from a net income attributable to shareholders of the parent of NT$7,217 million in 3Q14 and up from a net income attributable to shareholders of the parent of NT$3,652 million in 2Q15.  Basic earnings per share for the quarter were NT$0.83 (or US$0.132 per ADS), compared to basic earnings per share of NT$0.94 for 3Q14 and NT$0.48 for 2Q15. Diluted earnings per share for the quarter were NT$0.69 (or US$0.109 per ADS), compared to diluted earnings per share of NT$0.82 for 3Q14 and NT$0.43 for 2Q15.

RESULTS OF OPERATIONS

3Q15 Results Highlights -- Consolidated

  • Net revenue contribution from packaging operations, testing operations, EMS operations, substrates sold to third parties and others, each represented approximately 41%, 9%, 49%, 1% and 0%, respectively, of total net revenues for the quarter.
  • Cost of revenue was NT$59,883 million for the quarter, up by 14% year-over-year and up from NT$58,656 million in 2Q15.
    • Raw material cost totaled NT$37,086 million during the quarter, representing 51% of total net revenues, compared with NT$35,465 million and 51% of total net revenues in 2Q15.
    • Labor cost totaled NT$8,742 million during the quarter, representing 12% of total net revenues, compared with NT$8,656 million and 12% of total net revenues in 2Q15.
    • Depreciation, amortization and rental expenses totaled NT$7,079 million during the quarter, up by 12% year-over-year and up by 1% sequentially.
  • Gross margin increased 1.3 percentage points to 17.8% in 3Q15 from 16.5% in 2Q15.
  • Total operating expenses during 3Q15 were NT$6,605 million, including NT$2,844 million in R&D and NT$3,761 million in SG&A, compared with total operating expenses of NT$6,157 million in 2Q15.  Total operating expenses as a percentage of net revenues were 9% in 3Q15, remained the same as 3Q14 and 2Q15.
  • Operating income for the quarter totaled NT$6,382 million, up from NT$5,409 million in 2Q15.  Operating margin was 8.8% in 3Q15 compared to 7.7% in 2Q15.
  • In terms of non-operating items:
    • Net interest expense was NT$492 million, up from NT$471 million in 2Q15.
    • Net foreign exchange loss of NT$2,520 million was primarily attributable to the appreciation of the U.S. dollar against the NT dollar and Renminbi ("RMB").
    • Gain on valuation of financial assets and liabilities was NT$4,502 million.
    • Other net non-operating loss of NT$91 million was primarily related to miscellaneous loss.  Total non-operating income for the quarter were NT$1,428 million, compared to total non-operating income of NT$506 million for 3Q14 and total non-operating expenses of NT$9 million for 2Q15.
  • Income before tax was NT$7,810 million for 3Q15, compared to NT$5,400 million in 2Q15.  We recorded income tax expenses of NT$1,127 million during the quarter, compared to NT$1,596 million in 2Q15.
  • In 3Q15, net income attributable to shareholders of the parent was NT$6,368 million, compared to net income attributable to shareholders of the parent of NT$7,217 million for 3Q14 and net income attributable to shareholders of the parent of NT$3,652 million for 2Q15.
  • Our total number of shares outstanding at the end of the quarter was 7,902,928,996, including treasury stock owned by our subsidiaries.  Our 3Q15 basic earnings per share of NT$0.83 (or US$0.132 per ADS) were based on 7,635,674,799 weighted average number of shares outstanding in 3Q15. Our 3Q15 diluted earnings per share of NT$0.69 (or US$0.109 per ADS) were based on 8,230,922,687 weighted average number of shares outstanding in 3Q15.

3Q15 Results Highlights -- IC ATM[2]

  • Net revenue contribution from IC ATM operations was NT$39,862 million for the quarter, down by 6% year-over-year and up by 6% sequentially.  Net revenue contribution from packaging operations, testing operations, substrates sold to third parties and others was NT$32,489 million, NT$6,426 million, NT$928 million, and NT$19 million, respectively, and each represented approximately 82%, 16%, 2% and 0%, respectively, of total net revenues for the quarter.
  • Cost of revenues was NT$29,211 million for the quarter, down by 3% year-over-year and up by 4% sequentially.
    • Raw material cost totaled NT$8,641 million during the quarter, representing 22% of total net revenues, compared with NT$8,213 million and 22% of total net revenues in 2Q15.
    • Labor cost totaled NT$7,442 million during the quarter, representing 19% of total net revenues, compared with NT$7,263 million and 19% of total net revenues in 2Q15.
    • Depreciation, amortization and rental expenses totaled NT$6,478 million during the quarter, up by 7% year-over-year and down by 0.1% sequentially.
  • Gross margin increased 1.5 percentage points to 26.7% in 3Q15 from 25.2% in 2Q15.
  • Total operating expenses during 3Q15 were NT$5,007 million, including NT$2,125 million in R&D and NT$2,882 million in SG&A, compared with total operating expenses of NT$4,403 million in 2Q15.  Total operating expenses as a percentage of net revenues were 13% in 3Q15, up from 11% in 3Q14 and up from 12% in 2Q15.
  • Operating income for the quarter totaled NT$5,644 million, up from NT$5,101 million in 2Q15.  Operating margin was 14.2% in 3Q15 compared to 13.5% in 2Q15.

3Q15 Results Highlights -- EMS

  • Net revenue contribution from EMS operations for the quarter was NT$36,161 million, up by 35% year-over-year and up by 5% sequentially.
  • Cost of revenues for the quarter was NT$33,176 million, up by 36% year-over-year and up by 2% sequentially.
    • Raw material cost totaled NT$28,234 million during the quarter, representing 78% of total net revenues, compared with NT$26,872 million and 78% of total net revenues in 2Q15.
    • Labor cost totaled NT$1,300 million during the quarter, representing 4% of total net revenues, compared with NT$1,393 million and 4% of total net revenues in 2Q15.
    • Depreciation, amortization and rental expenses totaled NT$640 million during the quarter, up by 138% year-over-year and up by 8% sequentially.
  • Gross margin increased to 8.3% in 3Q15 from 6.4% in 2Q15.
  • Total operating expenses during 3Q15 were NT$1,606 million, including NT$746 million in R&D and NT$860 million in SG&A, compared with total operating expenses of NT$1,745 million in 2Q15.  Total operating expenses as a percentage of net revenues were 4% in 3Q15, down from 5% in 3Q14 and down from 5% in 2Q15.
  • Operating income for the quarter totaled NT$1,379 million, up from NT$461 million in 2Q15.  Operating margin increased to 3.8% in 3Q15 from 1.3% in 2Q15.

LIQUIdiTY AND CAPITAL RESOURCES

  • As of September 30, 2015, our cash and current financial assets totaled NT$45,568 million, compared to NT$58,865 million as of June 30, 2015.
  • Capital expenditures in 3Q15 totaled US$140 million, of which US$83 million were used for packaging, US$25 million for testing, US$24 million for EMS, US$7 million for interconnect materials and US$1 million for Real Estate.
  • As of September 30, 2015, we had total debt of NT$124,546 million, compared to NT$91,904 million as of June 30, 2015.  Total debt consisted of NT$45,747 million of short-term borrowings, NT$4,606 million of the current portion of bonds payable, long-term borrowings and capital lease obligations and NT$74,193 million of bonds payable, long-term borrowings and capital lease obligations.  Total unused credit lines amounted to NT$148,963 million.
  • Current ratio as of September 30, 2015 was 1.31, compared to 1.34 as of June 30, 2015.  Net debt to equity ratio was 0.48 as of September 30, 2015.
  • Total number of employees was 67,116 as of September 30, 2015, compared to 66,091 as of September 30, 2014 and 68,310 as of June 30, 2015.

BUSINESS REVIEW

Packaging Operations[3]

  • Net revenues generated from our packaging operations were NT$32,489 million during the quarter, down by NT$1,860 million, or by 5% year-over-year, and up by NT$1,931 million, or by 6% sequentially.
  • Net revenues from advanced packaging accounted for 34% of our total packaging net revenues during the quarter, up by 3 percentage points from 2Q15.  Net revenues from IC wirebonding accounted for 56% of our total packaging net revenues during the quarter, down by 1 percentage point from 2Q15.  Net revenues from discrete and others accounted for 10% of our total packaging net revenues during the quarter, down by 2 percentage points from 2Q15.
  • Gross margin for our packaging operations during the quarter was 24.8%, down by 1.0 percentage points year-over-year and up by 2.1 percentage points from 2Q15.
  • Capital expenditures for our packaging operations amounted to US$83 million during the quarter, of which US$40 million were used for purchases of wafer bumping and flip chip packaging equipment and US$43 million for common equipment purchases, including SiP equipment purchases.
  • As of September 30, 2015, there were 15,617 wirebonders in operation. 1 wirebonder was added and 46 wirebonders were disposed of during the quarter.

Testing Operations

  • Net revenues generated from our testing operations were NT$6,426 million during the quarter, down by NT$401 million, or by 6% year-over-year, and up by NT$196 million, or by 3% sequentially.
  • Final testing accounted for 76% of our total testing net revenues, up by 1 percentage point from the previous quarter.  Wafer sort accounted for 20% of our total testing net revenues, down by 1 percentage point from 2Q15.  Engineering testing accounted for 4% of our total testing net revenues, remained the same as 2Q15.
  • Depreciation, amortization and rental expense associated with our testing operations amounted to NT$1,708 million during the quarter, up from NT$1,634 million in 3Q14 and up from NT$1,678 million in 2Q15.
  • In 3Q15, gross margin for our testing operations was 36.1%, down by 3.7 percentage points year-over-year and up by 0.9 percentage point from the previous quarter.
  • Capital expenditures for our testing operations amounted to US$25 million during the quarter.
  • As of September 30, 2015, there were 3,417 testers in operation. 72 new testers were added and 25 testers were disposed of during the quarter.

EMS Operations

  • Net revenues generated from our EMS operations were NT$36,161 million during the quarter, up by NT$9,395 million, or by 35% year-over-year, and up by NT$1,585 million, or by 5% sequentially.
  • Communications products accounted for 56% of our total net revenues from EMS operations for the quarter, up by 12 percentage points from 2Q15.  Computing products accounted for 13% of our total net revenues from EMS operations, remained the same as 2Q15.  Consumer products accounted for 19% of our total net revenues from EMS operations, down by 9 percentage points from 2Q15.  Industrial products accounted for 7% of our total net revenues from EMS operations, down by 2 percentage points from 2Q15.  Automotive products accounted for 4% of our total net revenues from EMS operations, down by 1 percentage point from the previous quarter.
  • In 3Q15, gross margin for our EMS operations was 8.3%, down by 0.3 percentage points year-over-year and up by 1.9 percentage points from the previous quarter.
  • Capital expenditures for our EMS operations amounted to US$24 million during the quarter.

Substrate Operations

  • PBGA substrate manufactured by ASE amounted to NT$1,954 million during the quarter, down by NT$613 million, or by 24% year-over-year, and down by NT$276 million, or by 12% from 2Q15.  Of the total output of NT$1,954 million, NT$762 million was from sales to external customers.
  • Gross margin for substrate operations was 11.1% during the quarter, down by 8.6 percentage points year-over-year and down by 5.1 percentage points from 2Q15.
  • In 3Q15, our internal substrate manufacturing operations supplied 23% (by value) of our total substrate requirements.

Customers
IC ATM consolidated Basis

  • Our five largest customers together accounted for approximately 38% of our total net revenues in 3Q15, compared to 37% in 3Q14 and 36% in 2Q15.  One customer accounted for more than 10% of our total net revenues in 3Q15.
  • Our top 10 customers contributed 53% of our total net revenues during the quarter, compared to 51% in 3Q14 and 2Q15.
  • Our customers that are integrated device manufacturers, or IDMs, accounted for 35% of our total net revenues during the quarter, compared to 33% in 3Q14 and 35% in 2Q15.

EMS BASIS

  • Our five largest customers together accounted for approximately 85% of our total net revenues in 3Q15, compared to 73% in 3Q14 and 82% in 2Q15.  One customer accounted for more than 10% of our total net revenues in 3Q15.
  • Our top 10 customers contributed 92% of our total net revenues during the quarter, compared to 87% in 3Q14 and 92% in 2Q15.

OUTLOOK

Based on our current business outlook and exchange rate assumptions, management projects overall performance for the fourth quarter of 2015 to be as follows:

  • IC ATM capacity should stay flat and blended utilization should be down 4-6% sequentially;
  • IC ATM gross margin should resemble 1Q15 level;
  • EMS capacity should stay flat and blended loading should be up mid-teen percentage sequentially;
  • EMS gross margin should approach 2Q15 level.

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.


                   Supplemental Financial Information

IC ATM Consolidated Operations

Amounts in NT$ Millions

3Q/15

2Q/15

3Q/14

Net Revenues

39,862

37,671

42,211

Revenues by Application




Communication

55%

55%

53%

Computer

11%

10%

12%

Automotive, Consumer & Others

34%

35%

35%

Revenues by Region




North America

63%

62%

62%

Europe

10%

12%

10%

Taiwan

17%

16%

18%

Japan

5%

5%

6%

Other Asia

5%

5%

4%

 

Packaging Operations

Amounts in NT$ Millions

3Q/15

2Q/15

3Q/14

Net Revenues

32,489

30,558

34,349

Revenues by Packaging Type




Advanced Packaging

34%

31%

29%

IC Wirebonding

56%

57%

61%

Discrete and Others

10%

12%

10%

Capacity




CapEx (US$ Millions)*

83

140

281

Number of Wirebonders

15,617

15,662

15,994

 

Testing Operations

Amounts in NT$ Millions

3Q/15

2Q/15

3Q/14

Net Revenues

6,426

6,230

6,827

Revenues by Testing Type




Final test

76%

75%

76%

Wafer sort

20%

21%

21%

Engineering test

4%

4%

3%

Capacity




CapEx (US$ Millions)*

25

43

70

Number of Testers

3,417

3,370

3,295

 

EMS Operations

Amounts in NT$ Millions

3Q/15

2Q/15

3Q/14

Net Revenues

36,161

34,576

26,766

Revenues by End Application




Communication

56%

44%

55%

Computer

13%

13%

17%

Consumer

19%

28%

9%

Industrial

7%

9%

11%

Automotive

4%

5%

7%

Others

1%

1%

1%

Capacity




CapEx (US$ Millions)*

24

27

74

* Capital expenditure excludes building construction costs.

Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of Comprehensive Income Data[4]
(In NT$ millions, except per share data)
(Unaudited)

 


For the three months ended


For the period ended


Sep. 30

2015


Jun. 30

2015


Sep. 30

2014


Sep. 30

2015


Sep. 30

2014


Net revenues:











Packaging

29,575


28,618


32,031


87,514


89,394


Testing

6,426


6,231


6,827


18,837


19,212


Direct Material

762


839


1,033


2,462


2,685


EMS

36,107


34,534


26,741


98,941


68,607


Others

-


-


-


-


49


Total net revenues

72,870


70,222


66,632


207,754


179,947













Cost of revenues

(59,883)


(58,656)


(52,424)


(170,888)


(142,769)


Gross profit

12,987


11,566


14,208


36,866


37,178













Operating expenses:











Research and development

(2,844)


(2,733)


(2,550)


(8,124)


(7,521)


Selling, general and administrative

(3,761)


(3,424)


(3,559)


(10,659)


(9,858)


Total operating expenses

(6,605)


(6,157)


(6,109)


(18,783)


(17,379)


Operating income

6,382


5,409


8,099


18,083


19,799













Net non-operating (expenses) income:











Interest expense - net

(492)


(471)


(504)


(1,489)


(1,535)


Foreign exchange gain (loss)

(2,520)


839


(214)


(1,141)


(171)


Gain (loss) on equity-method investments

29


(54)


14


(21)


(81)


Gain (loss) on valuation of financial assets and liabilities

 

4,502


 

(349)


 

1,294


 

3,184


 

650


Others

(91)


26


(84)


100


307


Total non-operating income (expenses)

1,428


(9)


506


633


(830)


Income before tax

7,810


5,400


8,605


18,716


18,969













Income tax expense

(1,127)


(1,596)


(1,240)


(3,579)


(2,791)


Income from continuing operations and before noncontrolling interest

6,683


3,804


7,365


15,137


16,178


Noncontrolling interest

(315)


(152)


(148)


(648)


(405)













Net income attributable to

shareholders of the parent

 

6,368


 

3,652


 

7,217


 

14,489


 

15,773













Per share data:











Earnings (losses) per share











-- Basic

NT$0.83     


NT$0.48     


NT$0.94     


NT$1.89     


NT$2.05     


-- Diluted

  NT$0.69


  NT$0.43


  NT$0.82


  NT$1.76


  NT$1.98













Earnings (losses) per equivalent ADS











-- Basic

  US$0.132


  US$0.077


  US$0.156


  US$0.302


  US$0.342


-- Diluted

  US$0.109


  US$0.070


  US$0.137


  US$0.281


  US$0.329













Number of weighted average shares used in diluted EPS calculation (in thousands)

8,230,923


8,151,710


8,194,417


8,240,964


8,209,165













Exchange rate (NT$ per US$1)

31.69


30.84


29.92


31.35


30.07













Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of Comprehensive Income Data -- IC ATM[4]
In NT$ millions, except per share data)
(Unaudited)



For the three months ended


For the period ended


Sep. 30

2015


Jun. 30

2015


Sep. 30

2014


Sep. 30

2015


Sep. 30

2014


Net revenues:











Packaging

32,489


30,558


34,349


94,593


93,928


Testing

6,426


6,230


6,827


18,836


19,212


Direct Material

928


865


1,035


2,654


2,688


Others

19


18


-


55


-


Total net revenues

39,862


37,671


42,211


116,138


115,828













Cost of revenues

(29,211)


(28,167)


(30,129)


(85,988)


(84,894)


Gross profit

10,651


9,504


12,082


30,150


30,934













Operating expenses:











Research and development

(2,125)


(1,969)


(2,010)


(6,003)


(6,013)


Selling, general and administrative

(2,882)


(2,434)


(2,711)


(7,856)


(7,352)


Total operating expenses

(5,007)


(4,403)


(4,721)


(13,859)


(13,365)


Operating income

5,644


5,101


7,361


16,291


17,569













Net non-operating (expenses) income:











Interest expense - net

(540)


(489)


(528)


(1,559)


(1,594)


Foreign exchange gain (loss)

(1,837)


630


(184)


(675)


(194)


Gain (loss) on equity-method investments

(63)


839


577


1,392


1,541


Gain (loss) on valuation of financial assets and liabilities

 

4,433


 

(516)


 

1,197


 

2,788


 

474


Others

(204)


(336)


(42)


(345)


432


Total non-operating income (expenses)

1,789


128


1,020


1,601


659


Income before tax

7,433


5,229


8,381


17,892


18,228













Income tax expense

(1,016)


(1,537)


(1,108)


(3,262)


(2,331)


Income from continuing operations and before noncontrolling interest

6,417


3,692


7,273


14,630


15,897


Noncontrolling interest

(49)


(40)


(56)


(141)


(124)













Net income attributable to shareholders of the parent

 

6,368


 

3,652


 

7,217


 

14,489


 

15,773













Per share data:











Earnings (losses) per share











-- Basic

NT$0.83     


NT$0.48     


NT$0.94     


NT$1.89     


NT$2.05     


-- Diluted

  NT$0.69


  NT$0.43


  NT$0.82


  NT$1.76


  NT$1.98













Number of weighted average shares used in diluted EPS calculation (in thousands)

8,230,923


8,151,710


8,194,417


8,240,964


8,209,165


 

                                                                  Advanced Semiconductor Engineering, Inc.
                         Summary of Consolidated Statement of Comprehensive Income Data -- EMS[4]
                                                                   (In NT$ millions, except per share data) 
                                                                                         (Unaudited)


For the three months ended


For the period ended


Sep. 30

2015


Jun. 30

2015


Sep. 30

2014


Sep. 30

2015


Sep. 30

2014


Net revenues:











Total net revenues

36,161


34,576


26,766


99,081


68,651













Cost of revenues

(33,176)


(32,370)


(24,477)


(91,625)


(62,263)


Gross profit

2,985


2,206


2,289


7,456


6,388













Operating expenses:











Research and development

(746)


(783)


(560)


(2,190)


(1,575)


Selling, general and administrative

(860)


(962)


(820)


(2,736)


(2,374)


Total operating expenses

(1,606)


(1,745)


(1,380)


(4,926)


(3,949)


Operating income

1,379


461


909


2,530


2,439













Net non-operating (expenses) income:











Total non-operating income

(558)


423


110


81


303


Income before tax

821


884


1,019


2,611


2,742













Income tax expense

(120)


(64)


(138)


(340)


(482)


Income from continuing operations and before noncontrolling interest

701


820


881


2,271


2,260


Noncontrolling interest

(272)


(110)


(93)


(512)


(288)













Net income attributable to shareholders of the parent

429


710


788


1,759


1,972


 


                                                 Advanced Semiconductor Engineering, Inc.
                                          Summary of Consolidated Balance Sheet Data
                                                                       (In NT$ millions)
                                                                            (Unaudited)



As of Sep. 30, 2015


As of Jun. 30, 2015













Current assets:












Cash and cash equivalents




42,410






54,175


Financial assets -- current




3,158






4,690


Notes and accounts receivable




53,156






50,733


Inventories




52,706






46,152


Others




5,741






4,513


Total current assets




157,171






160,263














Financial assets -- non current & Investments -- equity method




37,887






2,280


Property plant and equipment




152,981






152,755


Intangible assets




11,959






11,829


Prepaid lease payments




2,610






2,488


Others




5,844






5,546


Total assets




368,452






335,161














Current liabilities:












Short-term borrowings




45,747






37,193


Current portion of bonds payable




2,578






0


Current portion of long-term borrowings & capital lease obligations




2,028






1,554


Notes and accounts payable




39,700






33,955


Others




29,861






47,236


Total current liabilities




119,914






119,938














Bonds payable




35,804






30,867


Long-term borrowings & capital lease obligations




38,389






22,290


Other liabilities




10,062






9,378


Total liabilities




204,169






182,473


Shareholders of the parent




153,529






142,601














Noncontrolling interest




10,754






10,087


Total liabilities & shareholders' equity




368,452






335,161


























Current Ratio




1.31






1.34


Net Debt to Equity




0.48






0.22




























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] ATM stands for Semiconductor Assembly, Testing and Material.

[3] IC packaging services include module assembly services.

[4] 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 ended  September 30, 2014 and for the period ended September 30, 2014 have been adjusted accordingly.

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

SOURCE Advanced Semiconductor Engineering, Inc.



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