UMC Reports Third Quarter 2013 Results

Summary of Operating Results

Operating Results

(Amount: NT$ million)

3Q13

2Q13

QoQ %
change

3Q12

YoY %
change

Net Operating Revenues

33,407

31,905

4.7

30,174

10.7

Gross Profit

7,337

6,177

18.8

5,724

28.2

Operating Expenses

(4,894)

(5,017)

(2.5)

(3,752)

30.4

Net Other Operating Income and Expenses

(48)

(11)

336.4

(2,704)

(98.2)

Operating Income

2,395

1,149

108.4

(732)

-

Net Non-Operating Income and Expenses

1,561

631

147.4

2,481

(37.1)

Net Income Attributable to the Stockholders of

   the Parent

3,476

1,812

91.8

1,493

132.8

EPS (NT$ per share)

0.28

0.15


0.12


        (US$ per ADS[2])

0.047

0.025


0.020



[2] One ADS represents five Taiwan-listed ordinary shares.

The consolidated revenue increased 4.7% QoQ, from NT$31.91 billion in 2Q13 to NT$33.41 billion in 3Q13, and increased 10.7% YoY from NT$30.17 billion in 3Q12.  Gross profit was NT$7.34 billion, or 22.0% of revenue, compared to NT$6.18 billion, or 19.4% of 2Q13 revenue.  Operating income for the quarter was NT$2.40 billion, or 7.2% of revenue, compared to operating income of NT$1.15 billion, or 3.6% of 2Q13 revenue.  Net income attributable to the stockholders of the parent was NT$3.48 billion, compared to NT$1.81 billion in 2Q13.

Earnings per ordinary share for the quarter were NT$0.28.  Earnings per ADS were US$0.047.  The basic weighted average number of outstanding shares in 3Q13 was 12,459,978,088, compared with 12,464,972,126 shares in 2Q13 and 12,628,658,938 shares in 3Q12.  The diluted weighted average number of outstanding shares was 13,201,315,449 in 3Q13, compared with 13,236,433,274 shares in 2Q13 and 13,358,778,084 shares in 3Q12.  The fully diluted share count on September 30, 2013 was approximately 13,767,258,000.  On September 30, 2013, UMC held 200 million treasury shares acquired from the 15th share buy-back programs.

Detailed Financials Section

COGS & Expenses

(Amount: NT$ million)

3Q13

2Q13

QoQ %

3Q12

YoY %

change

change

Net Operating Revenues

33,407

31,905

4.7

30,174

10.7

COGS

(26,070)

(25,728)

1.3

(24,450)

6.6

  Depreciation

(8,151)

(8,546)

(4.6)

(7,733)

5.4

  Other Mfg. Costs

(17,919)

(17,182)

4.3

(16,717)

7.2

Gross Profit

7,337

6,177

18.8

5,724

28.2

Gross Margin (%)

22.0%

19.4%


19.0%


Operating Expenses

(4,894)

(5,017)

(2.5)

(3,752)

30.4

  G&A

(854)

(966)

(11.6)

(727)

17.5

  Sales & Marketing

(778)

(800)

(2.8)

(687)

13.2

  R&D

(3,262)

(3,251)

0.3

(2,338)

39.5

Net Other Operating

Income & Expenses

(48)

(11)

336.4

(2,704)

(98.2)

Operating Income

2,395

1,149

108.4

(732)

-


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