Advanced Semiconductor Engineering, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Of 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, today reported unaudited net revenues[1] of NT$62,371 million for the first quarter of 2016 (1Q16), down by 4% year-over-year and down by 17% sequentially.  Net income attributable to shareholders of the parent for the quarter totaled NT$4,163 million, down from a net income attributable to shareholders of the parent of NT$4,469 million in 1Q15 and down from a net income attributable to shareholders of the parent of NT$4,990 million in 4Q15.  Basic earnings per share for the quarter were NT$0.54 (or US$0.082 per ADS), compared to basic earnings per share of NT$0.58 for 1Q15 and NT$0.65 for 4Q15. Diluted earnings per share for the quarter were NT$0.43 (or US$0.065 per ADS), compared to diluted earnings per share of NT$0.56 for 1Q15 and NT$0.63 for 4Q15.

[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.

RESULTS OF OPERATIONS

1Q16 Results Highlights – Consolidated

  • Net revenue contribution from packaging operations, testing operations, EMS operations, substrates sold to third parties and others, each represented approximately 45%, 10%, 40%, 1% and 4%, respectively, of total net revenues for the quarter.
  • Cost of revenue was NT$50,922 million for the quarter, down from NT$62,279 million in 4Q15.
    • Raw material cost totaled NT$27,357 million during the quarter, representing 44% of total net revenues.
    • Labor cost totaled NT$8,284 million during the quarter, representing 13% of total net revenues.
    • Depreciation, amortization and rental expenses totaled NT$7,010 million during the quarter.
  • Gross margin increased 0.8 percentage points to 18.4% in 1Q16 from 17.6% in 4Q15.
  • Operating margin was 8.3% in 1Q16 compared to 9.0% in 4Q15.
  • In terms of non-operating items:
    • Net interest expense was NT$527 million.
    • Net foreign exchange gain of NT$881 million was primarily attributable to the depreciation of the U.S. dollar against the NT dollar.
    • Loss on valuation of financial assets and liabilities was NT$360 million.
    • Net gain on equity-method investments was NT$385 million, including NT$401 million of the share of profit from our investment in Siliconware Precision Industries Co., Ltd.
    • Other net non-operating income of NT$71 million was primarily related to miscellaneous income. Total non-operating income for the quarter were NT$450 million.
  • Income before tax was NT$5,656 million for 1Q16, compared to NT$6,572 million in 4Q15. We recorded income tax expenses of NT$1,318 million during the quarter, compared to NT$1,260 million in 4Q15.
  • In 1Q16, net income attributable to shareholders of the parent was NT$4,163 million, compared to net income attributable to shareholders of the parent of NT$4,469 million for 1Q15 and net income attributable to shareholders of the parent of NT$4,990 million for 4Q15.
  • Our total number of shares outstanding at the end of the quarter was 7,918,272,896, including treasury stock owned by our subsidiaries. Our 1Q16 basic earnings per share of NT$0.54 (or US$0.082 per ADS) were based on 7,649,385,595 weighted average number of shares outstanding in 1Q16. Our 1Q16 diluted earnings per share of NT$0.43 (or US$0.065 per ADS) were based on 8,293,276,666 weighted average number of shares outstanding in 1Q16.

1Q16 Results Highlights – IC ATM[2]

  • Cost of revenues was NT$27,711 million for the quarter, down by 3% sequentially.
    • Raw material cost totaled NT$8,086 million during the quarter, representing 23% of total net revenues.
    • Labor cost totaled NT$7,194 million during the quarter, representing 20% of total net revenues.
    • Depreciation, amortization and rental expenses totaled NT$6,379 million during the quarter.
  • Gross margin decreased 4.0 percentage points to 22.0% in 1Q16 from 26.0% in 4Q15.
  • Operating margin was 9.1% in 1Q16 compared to 13.8% in 4Q15.

[2] ATM stands for Semiconductor Assembly, Testing and Material.

1Q16 Results Highlights – EMS

  • Cost of revenues for the quarter was NT$22,781 million, down by 38% sequentially.
    • Raw material cost totaled NT$19,310 million during the quarter, representing 78% of total net revenues.
    • Labor cost totaled NT$1,089 million during the quarter, representing 4% of total net revenues.
    • Depreciation, amortization and rental expenses totaled NT$667 million during the quarter.
  • Gross margin increased to 8.1% in 1Q16 from 7.3% in 4Q15.
  • Operating margin decreased to 1.5% in 1Q16 from 2.7% in 4Q15.

LIQUIDITY AND CAPITAL RESOURCES

1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article

EMA:

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Retail Therapy: Jump starting Black Friday
Peggy AycinenaIP Showcase
by Peggy Aycinena
REUSE 2016: Addressing the Four Freedoms
More Editorial  
Jobs
Manager, Field Applications Engineering for Real Intent at Sunnyvale, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
ACCOUNT MANAGER MUNICH GERMANY EU for EDA Careers at MUNICH, Germany
AE-APPS SUPPORT/TMM for EDA Careers at San Jose-SOCAL-AZ, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Upcoming Events
Zuken Innovation World 2017, April 24 - 26, 2017, Hilton Head Marriott Resort & Spa in Hilton Head Island, SC at Hilton Head Marriott Resort & Spa Hilton Head Island NC - Apr 24 - 26, 2017
CST Webinar Series



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy