To aid investors in understanding the significance of the Company's successful tender offer for 78.1% of the outstanding common shares of Universal Scientific Industrial Co., Ltd. ("USI") in the second 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 beginning in February 2010 and for the second quarter of 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
2Q10 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$25,700 million, NT$5,288 million, NT$14,726
million, and NT$702 million, respectively, and each represented
approximately 55%, 11%, 32% and 2%, respectively, of total net revenues
for the quarter.
-- Cost of revenue was NT$36,500 million, up 123% year-over-year and up
22% sequentially.
-- Raw material cost totaled NT$22,108 million during the quarter,
representing 48% of total net revenue, compared with NT$17,130
million and 46% of total net revenue in the previous quarter.
-- Labor cost totaled NT$5,164 million during the quarter, representing
11% of total net revenue, compared with NT$4,476 million and 12% of
total net revenue in the previous quarter.
-- Depreciation, amortization and rental expenses totaled NT$4,470
million during the quarter, up 7% year-over-year and sequentially.
-- Total operating expenses during 2Q10 were NT$4,153 million, including
NT$1,560 million in R&D and NT$2,593 million in SG&A, compared with
operating expenses of NT$3,277 million in 1Q10. Total operating
expenses as a percentage of net revenue for the current quarter were 9%,
slightly down from 10% in 2Q09 and the same as the previous quarter.
-- Operating income for the quarter totaled NT$5,763 million, up from
NT$4,279 million in the previous quarter. Operating margin increased
to 12% in 2Q10 from 11% in 1Q10.
-- In terms of non-operating items:
-- Net interest expense was NT$282 million, down from NT$292 million a
quarter ago primarily due to lower loan balance during the quarter.
-- Net foreign exchange loss of NT$80 million was primarily
attributable to the appreciation of the U.S. dollar against the N.T.
dollar.
-- Gain on equity-method investments of NT$36 million was primarily
attributable to our investment income of NT$43 million from Hung
Ching Construction and investment loss of other investments.
-- Other non-operating loss of NT$54 million was primarily related to
miscellaneous loss. Total non-operating expenses for the quarter
was NT$380 million, compared to non-operating expenses of NT$337
million for 2Q09 and non-operating expense of NT$206 million for
1Q10.
-- Income before tax was NT$5,383 million for 2Q10, compared to NT$4,073
million in the previous quarter. We recorded income tax expense of
NT$611 million during the quarter, compared to NT$455 million in 1Q10.
-- In 2Q10, net income was NT$4,613 million, compared to net income of
NT$1,674 million for 2Q09 and net income of NT$3,395 million for 1Q10.
-- Our total number of shares outstanding at the end of the quarter was
6,049,280,572, including retroactive stock dividend and treasury stock
owned by our subsidiaries. Our 2Q10 diluted earnings per share of
NT$0.76 (or US$0.120 per ADS) was based on 6,010,598,704 weighted
average number of shares outstanding in 2Q10.
2Q10 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$25,700 million, NT$5,288 million, NT$14,726 million, and NT$702
million, respectively, and each represented approximately 55%, 11%, 32%
and 2%, respectively, of total net revenues for the quarter.
-- Cost of revenues was NT$36,500 million, up 35% year-over-year and up 8%
sequentially.
-- Total operating expenses during 2Q10 were NT$4,153 million, including
NT$1,560 million in R&D and NT$2,593 million in SG&A, compared with
operating expenses of NT$3,616 million in 1Q10. Total operating
expenses as a percentage of net revenue for the current quarter were 9%,
the same as 2Q09 and the previous quarter.
-- Operating income for the quarter totaled NT$5,763 million, up from
NT$4,450 million in the previous quarter. Operating margin was 12% in
2Q10, slightly up 1% from the previous quarter.
-- Total non-operating expenses for the quarter were NT$380 million,
compared to non-operating expenses of NT$386 million for 2Q09 and
non-operating expenses of NT$236 million for 1Q10.
-- Income before tax was NT$5,383 million for 2Q10, compared to NT$4,214
million in the previous quarter. We recorded income tax expense of
NT$611 million during the quarter, compared to NT$470 million in 1Q10.
-- In 2Q10, net income was NT$4,613 million, compared to a net income of
NT$1,883 million for 2Q09 and net income of NT$3,488 million for 1Q10.
-- Our total number of shares outstanding at the end of the quarter was
6,049,280,572, including retroactive stock dividend and treasury stock
owned by our subsidiaries. Our 2Q10 diluted earnings per share of
NT$0.76 was based on 6,010,598,704 weighted average number of shares
outstanding in 2Q10.
2Q10 Results Highlights -- IC ATM(2) Basis
-- Net revenue contribution from IC packaging operations, testing
operations, and substrates sold to third parties was NT$25,707 million,
NT$5,288 million and NT$702 million, respectively, and each represented
approximately 81%, 17% and 2%, respectively, of total net revenues for
the quarter.
-- Cost of revenues was NT$23,394 million, up 43% year-over-year and up
12% sequentially.
-- Raw material cost totaled NT$10,278 million during the quarter,
representing 32% of total net revenue, compared with NT$8,886
million and 32% of total net revenue in the previous quarter.
-- Labor cost totaled NT$4,643 million during the quarter, representing
15% of total net revenue, compared with NT$4,135 million and 15% of
total net revenue in the previous quarter.
-- Depreciation, amortization and rental expenses totaled NT$4,093
million during the quarter, down 2% year-over-year and up 2%
sequentially.
-- Total operating expenses during 2Q10 were NT$2,936 million, including
NT$1,143 million in R&D and NT$1,793 million in SG&A, compared with
operating expenses of NT$2,629 million in 1Q10. Total operating
expenses as a percentage of net revenue for the current quarter were 9%,
down from 10% in 2Q09 and the previous quarter.
-- Operating income for the quarter totaled NT$5,367 million, up from
NT$3,818 million in the previous quarter. Operating margin increased
to 17% in 2Q10 from 14% in 1Q10.
-- In terms of non-operating items:
-- Net interest expense was NT$275 million, down from NT$293 million a
quarter ago primarily due to lower loan balance during the quarter.
-- Net foreign exchange loss of NT$77 million was primarily
attributable to the appreciation of the U.S. dollar against the N.T.
dollar.
-- Gain on equity-method investments of NT$313 million was primarily
attributable to our investment income in USI.
-- Other non-operating loss of NT$152 million was primarily related to
miscellaneous loss. Total non-operating expenses for the quarter
was NT$191 million, compared to non-operating expenses of NT$337
million for 2Q09 and non-operating income of NT$113 million for 1Q10.
-- Income before tax was NT$5,176 million for 2Q10, compared to NT$3,931
million in the previous quarter. We recorded income tax expense of
NT$525 million during the quarter, compared to NT$395 million in 1Q10.
-- In 2Q10, net income was NT$4,613 million, compared to a net income of
NT$1,674 million for 2Q09 and net income of NT$3,395 million for 1Q10.
(2) ATM stands for Semiconductor Assembly, Testing and Material.
2Q10 Results Highlights of USI
-- Net revenue contribution from EMS operations was NT$14,726 million, up
23% year-over-year and up 2% sequentially.
-- Cost of revenues was NT$12,963 million, up 22% year-over-year and up 1%
sequentially.
-- Raw material cost totaled NT$11,838 million during the quarter,
representing 80% of total net revenue, compared with NT$11,777
million and 81% of total net revenue in the previous quarter.
-- Labor cost totaled NT$520 million during the quarter, representing
4% of total net revenue, compared with NT$487 million and 3% of
total net revenue in the previous quarter.
-- Depreciation, amortization and rental expenses totaled NT$231
million during the quarter, down 30% year-over-year and down 9%
sequentially.
-- Total operating expenses during 2Q10 were NT$1,218 million, including
NT$417 million in R&D and NT$801 million in SG&A, compared with
operating expenses of NT$988 million in 1Q10. Total operating expenses
as a percentage of net revenue for the current quarter were 8%, the
same as 2Q09 and up from 7% in 1Q10.
-- Operating income for the quarter totaled NT$545 million, down from
NT$626 million in the previous quarter. Operating margin was 4% in
2Q10, the same as the previous quarter.
-- Total non-operating income for the quarter was NT$91 million, compared
to non-operating income of NT$22 million for 2Q09 and non-operating
expenses of NT$20 million for 1Q10.
-- Income before tax was NT$636 million for 2Q10, compared to NT$606
million in the previous quarter. We recorded income tax expense of
NT$85 million during the quarter, compared to NT$74 million in 1Q10.
-- In 2Q10, net income was NT$549 million, compared to a net income of
NT$349 million for 2Q09 and net income of NT$530 million for 1Q10.
LIQUIdiTY AND CAPITAL RESOURCES of Actual Basis
-- As of June 30, 2010, our cash and current financial assets totaled
NT$28,061 million, compared to NT$40,417 million as of March 31, 2010.
-- Capital expenditures in 2Q10 totaled US$366million, of which US$227
million was used for IC packaging, US$127 million was used for testing,
US$7 million was used for EMS and US$5 million was used for
interconnect materials.
-- As of June 30, 2010, we had total bank debt of NT$68,446 million,
compared to NT$78,317 million as of March 31, 2010. Total bank debt
consisted of NT$15,494 million of revolving working capital loans,
NT$2,136 million of the current portion of long-term debt, and
NT$50,816 million of long-term debt. Total unused credit lines
amounted to NT$86,585 million.
-- Current ratio as of June 30, 2010 was 1.42, compared to 1.61 as of
March 31, 2010. Net debt to equity ratio was 0.44 as of June 30, 2010.
-- Total number of employees was 44,374 as of June 30, 2010, compared to
26,406 as of June 30, 2009 and 42,953 as of March 31, 2010.
Business Review
IC Packaging Services(3)
-- Net revenues generated from our IC packaging operations were NT$25,707
million during the quarter, up NT$9,116 million, or 55% year-over-year,
and up NT$3,619 million, or 16% sequentially.
-- Net revenues from advanced substrate and leadframe-based packaging
accounted for 85% of total IC packaging net revenues during the quarter,
down 2 percentage points from the previous quarter.
-- Gross margin for our IC packaging operations during the quarter was 22%,
up by 3 percentage points from the same quarter last year and previous
quarter.
-- Capital expenditures for our IC packaging operations amounted to US$227
million during the quarter, of which US$186 million was used for
wirebonding packaging capacity and US$41 million was used for wafer
bumping and flip chip packaging equipment.
-- As of June 30, 2010, there were 10,705 wirebonders in operation. 916
wirebonders were added and 28 wirebonders were disposed of during the
quarter.
-- Net revenues from flip chip packages and wafer bumping services
accounted for 16% 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$5,288
million, up NT$1,411 million, or 36% year-over-year, and up NT$626
million, or 13%, sequentially.
-- Final testing contributed 83% to total testing net revenues, which
remained the same as the previous quarter. Wafer sort contributed 15%
to total testing net revenues, up 1 percentage point from the previous
quarter. Engineering testing contributed 2% to total testing net
revenues, down 1 percentage point from the previous quarter.
-- Depreciation, amortization and rental expense associated with our
testing operations amounted to NT$1,403 million, down from NT$1,480
million in 2Q09 and up from NT$1,372 million in 1Q10.
-- In 2Q10, gross margin for our testing operations was 39%, up by 11
percentage points year-over-year and up 4 percentage points from the
previous quarter.
-- Capital spending on our testing operations amounted to US$127 million
during the quarter.
-- As of June 30, 2010, there were 1,846 testers in operation. 242
testers were added and 30 testers were disposed of during the quarter.
EMS Services
-- Net revenues generated from our EMS operations were NT$14,726 million,
up NT$2,748 million, or 23% year-over-year, and up NT$220 million, or
2%, sequentially.
-- Electronics Packaging & EMS products contributed 22% to total EMS net
revenues, down by 6 percentage points from the previous quarter.
Computers & Peripherals products contributed 16% to total EMS net
revenues, down by 9 percentage points from the previous quarter.
Communications products contributed 32% to total EMS net revenues, up
by 11 percentage points from the previous quarter. Network Storage &
Servers products contributed 10% to total EMS net revenues, up by 1
percentage point from the previous quarter. Industrial & Automotive
products contributed 20% to total EMS net revenues, up by 3 percentage
points from the previous quarter.
-- In 2Q10, gross margin for our EMS operations was 12%, up 1 percentage
point from 2Q09 and the previous quarter.
-- Capital spending on our EMS operations amounted to US$7 million during
the quarter.
Substrate Operations
-- PBGA substrate manufactured by ASE amounted to NT$2,560 million during
the quarter, up NT$721 million, or 39% year-over-year, and up NT$230
million, or 10% from the previous quarter. Of the total output of
NT$2,560 million, NT$702 million was from sales to external customers.
-- Gross margin for substrate operations was 27% during the quarter, up by
10 percentage points year-over-year and up by 3 percentage points
sequentially.
-- In 2Q10, our internal substrate manufacturing operations supplied 45%
(by value) of our total substrate requirements.
Customers
IC ATM consolidated Basis
-- Our five largest customers together accounted for approximately 29% of
our total net revenues in 2Q10, compared to 32% in 2Q09 and 30% in 1Q10.
No single customer accounted for more than 10% of our total net
revenues.
-- Our top 10 customers contributed 43% of our total net revenues during
the quarter, compared to 46% in 2Q09 and 44% in 1Q10.
-- Our customers that are integrated device manufacturers, or IDMs,
accounted for 35% of our total net revenues during the quarter,
compared to 30% in 2Q09 and 37% in 1Q10.
USI consolidated Basis
-- Our five largest customers together accounted for approximately 62% of
our total net revenues in 2Q10, compared to 66% in 2Q09 and 63% in 1Q10.
There are four customers accounted for more than 10% of our total net
revenues.
-- Our top 10 customers contributed 78% of our total net revenues during
the quarter, compared to 83% in 2Q09 and 79% in 1Q10.
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 2009 Annual Report on Form 20-F filed on June 11, 2010.
Supplemental Financial Information
IC ATM Consolidated Operations
Amounts in NT$ Millions 2Q/10 1Q/10 2Q/09
Net Revenues 31,697 27,423 20,881
Revenues by End Application
Communications 46% 45% 50%
Computers 18% 20% 18%
Automotive and Consumer 36% 35% 31%
Others 0% 0% 1%
Revenues by Region
North America 52% 50% 55%
Europe 14% 12% 11%
Taiwan 20% 23% 22%
Japan 9% 10% 8%
Other Asia 5% 5% 4%
IC Packaging Services
Amounts in NT$ Millions 2Q/10 1Q/10 2Q/09
Net Revenues 25,707 22,088 16,591
Revenues by Packaging Type
Advanced substrate &
leadframe based 85% 87% 91%
Traditional leadframe based 6% 6% 5%
Module assembly 5% 4% 2%
Others 4% 3% 2%
Capacity
CapEx (US$ Millions)* 227 137 30
Number of Wirebonders 10,705 9,817 8,501
Testing Services
Amounts in NT$ Millions 2Q/10 1Q/10 2Q/09
Net Revenues 5,288 4,662 3,877
Revenues by Testing Type
Final test 83% 83% 82%
Wafer sort 15% 14% 15%
Engineering test 2% 3% 3%
Capacity
CapEx (US$ Millions)* 127 43 13
Number of Testers 1,846 1,634 1,510
USI Consolidated Operations
Amounts in NT$ Millions 2Q/10 1Q/10 2Q/09
Net Revenues 14,726 14,506 11,978
Revenues by End Application
Electronics Packaging & EMS 22% 28% 32%
Computers & Peripherals 16% 25% 23%
Communications 32% 21% 22%
Network Storage & Servers 10% 9% 8%
Industrial & Automotive
Products 20% 17% 15%
Capacity
CapEx (US$ Millions)* 7 9 -**
* Capital expenditure amounts exclude building construction costs.
** < US$1 million.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Income Statements Data -- Actual Basis*
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended For the period ended
Jun. 30 Mar. 31 Jun. 30 Jun. 30 Jun. 30
2010 2010 2009 2010 2009
Net revenues:
IC Packaging 25,700 22,081 16,591 47,781 26,799
Testing 5,288 4,662 3,877 9,951 6,645
EMS 14,726 10,139 -- 24,864 --
Others 702 673 413 1,375 834
Total net revenues 46,416 37,555 20,881 83,971 34,278
Cost of revenues (36,500) (29,999) (16,310) (66,499) (29,031)
Gross profit 9,916 7,556 4,571 17,472 5,247
Operating expenses:
Research and
development (1,560) (1,301) (825) (2,861) (1,575)
Selling, general
and administrative (2,593) (1,976) (1,203) (4,569) (2,522)
Total operating
expense (4,153) (3,277) (2,028) (7,430) (4,097)
Operating income
(loss) 5,763 4,279 2,543 10,042 1,150
Net non-operating
(expenses) income:
Interest expense
-- net (282) (292) (340) (574) (775)
Foreign exchange gain
(loss) (80) (3) 106 (84) (1)
Gain (loss) on
equity-method
investments 36 32 58 69 82
Others (54) 57 (161) 4 104
Total non-operating
(expenses) income (380) (206) (337) (585) (590)
Income (loss) before
tax 5,383 4,073 2,206 9,457 560
Income tax benefit
(expense) (611) (455) (559) (1,067) (509)
(Loss) income from
continuing operations
and before minority
interest 4,772 3,618 1,647 8,390 51
Minority interest (159) (223) 27 (382) 57
Net income (loss) 4,613 3,395 1,674 8,008 108
Per share data:
Earnings (losses) per
share
- Basic NT$0.78 NT$0.59 NT$0.30 NT$1.36 NT$0.02
- Diluted NT$0.76 NT$0.57 NT$0.29 NT$1.34 NT$0.02
Earnings (losses)
per equivalent ADS
- Basic US$0.122 US$0.092 US$0.045 US$0.214 US$0.003
- Diluted US$0.120 US$0.089 US$0.044 US$0.210 US$0.003
Number of weighted
average
shares used in
diluted EPS
calculation (in
thousands) 6,010,599 5,890,374 5,680,034 5,957,463 5,693,239
Exchange rate
(NT$ per US$1) 31.78 31.95 33.16 31.86 33.49
* Figures above reflect consolidation of USI starting in February 2010.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Income Statements Data - Pro Forma Basis Assuming USI
Consolidated at the Beginning of Each Applicable Period
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended For the period ended
Jun. 30 Mar. 31 Jun. 30 Jun. 30 Jun. 30
2010 2010 2009 2010 2009
Net revenues:
IC Packaging 25,700 22,080 16,588 47,780 26,799
Testing 5,288 4,662 3,877 9,950 6,645
EMS 14,726 14,506 11,978 29,232 22,661
Others 702 673 412 1,375 826
Total net revenues 46,416 41,921 32,855 88,337 56,931
Cost of revenues (36,500) (33,855) (26,921) (70,355) (49,134)
Gross profit 9,916 8,066 5,934 17,982 7,797
Operating expenses:
Research and
development (1,560) (1,432) (1,206) (2,992) (2,315)
Selling, general and
administrative (2,593) (2,184) (1,773) (4,777) (3,667)
Total operating
expenses (4,153) (3,616) (2,979) (7,769) (5,982)
Operating income
(loss) 5,763 4,450 2,955 10,213 1,815
Net non-operating
(expenses) income:
Total non-operating
(expenses) income (380) (236) (386) (616) (626)
Income (loss) before
tax 5,383 4,214 2,569 9,597 1,189
Income tax benefit
(expense) (611) (470) (637) (1,081) (634)
(Loss) income from
continuing
operations and
before minority
interest 4,772 3,744 1,932 8,516 555
Minority interest (159) (256) (49) (416) (78)
Net income (loss) 4,613 3,488 1,883 8,100 477
Per share data:
Earnings (losses)
per share
- Basic NT$0.78 NT$0.59 NT$0.32 NT$1.37 NT$0.08
- Diluted NT$0.76 NT$0.58 NT$0.32 NT$1.34 NT$0.08
Number of weighted
average
shares used in
diluted EPS
calculation (in
thousands) 6,010,599 5,994,358 5,933,203 6,009,168 5,933,203
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Income Statements Data - IC ATM Basis
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended For the period ended
Jun. 30 Mar. 31 Jun. 30 Jun. 30 Jun. 30
2010 2010 2009 2010 2009
Net revenues:
IC Packaging 25,707 22,088 16,591 47,794 26,799
Testing 5,288 4,662 3,877 9,951 6,645
Others 702 673 413 1,375 834
Total net revenues 31,697 27,423 20,881 59,120 34,278
Cost of revenues (23,394) (20,976) (16,310) (44,370) (29,031)
Gross profit 8,303 6,447 4,571 14,750 5,247
Operating expenses:
Research and
development (1,143) (1,035) (825) (2,177) (1,575)
Selling, general
and administrative (1,793) (1,594) (1,203) (3,387) (2,522)
Total operating
expenses (2,936) (2,629) (2,028) (5,564) (4,097)
Operating income
(loss) 5,367 3,818 2,543 9,186 1,150
Net non-operating
(expenses) income:
Interest expense
-- net (275) (293) (340) (568) (775)
Foreign exchange
gain (loss) (77) 14 106 (63) (1)
Gain (loss) on
equity-method
investments 313 327 58 640 82
Others (152) 65 (161) (87) 104
Total non-operating
(expenses
income (191) 113 (337) (78) (590)
Income (loss) before
tax 5,176 3,931 2,206 9,108 560
Income tax benefit
(expense) (525) (395) (559) (921) (509)
(Loss) income from
continuing
operations and
before minority
interest 4,651 3,536 1,647 8,187 51
Minority interest (38) (141) 27 (179) 57
Net income (loss) 4,613 3,395 1,674 8,008 108
Per share data:
Earnings (losses)
per share
- Basic NT$0.78 NT$0.59 NT$0.30 NT$1.36 NT$0.02
- Diluted NT$0.76 NT$0.57 NT$0.29 NT$1.34 NT$0.02
Number of weighted
average
shares used in
diluted EPS
calculation (in
thousands) 6,010,599 5,890,374 5,680,034 5,957,463 5,693,239
Universal Scientific Industrial Co., Ltd.
Summary of Consolidated Income Statements Data
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended For the period ended
Jun. 30 Mar. 31 Jun. 30 Jun. 30 Jun. 30
2010 2010 2009 2010 2009
Net revenues:
Total net revenues 14,726 14,506 11,978 29,232 22,661
Cost of revenues (12,963) (12,892) (10,620) (25,855) (20,120)
Gross profit 1,763 1,614 1,358 3,377 2,541
Operating expenses:
Research and
development (417) (398) (381) (815) (741)
Selling, general
and administrative (801) (590) (571) (1,390) (1,145)
Total operating
expenses (1,218) (988) (952) (2,205) (1,886)
Operating income
(loss) 545 626 406 1,172 655
Net non-operating
(expenses) income:
Total non-operating
(expenses) income 91 (20) 22 71 85
Income (loss) before
tax 636 606 428 1,243 740
Income tax benefit
(expense) (85) (74) (78) (159) (125)
(Loss) income from
continuing
operations and
before minority
interest 551 532 350 1,084 615
Minority interest (2) (2) (1) (4) (2)
Net income (loss) 549 530 349 1,080 613
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Balance Sheet Data -- Actual Basis*
(In NT$ millions)
(Unaudited)
As of Jun. 30, 2010 As of Mar. 31, 2010
Current assets:
Cash and cash equivalents 24,771 36,505
Financial assets -- current 3,290 3,912
Notes and accounts receivable 34,309 33,396
Inventories 24,905 20,687
Others 3,481 5,623
Total current assets 90,756 100,123
Financial assets -- non current 2,389 2,430
Properties -- net 95,906 86,748
Intangible assets 16,419 16,504
Others 4,579 3,993
Total assets 210,049 209,798
Current liabilities:
Short-term debts -- revolving credit 15,494 20,797
Current portion of long-term debts 2,136 1,438
Notes and accounts payable 24,896 23,787
Others 21,513 16,263
Total current liabilities 64,039 62,285
Long-term debts 50,816 56,082
Other liabilities 4,116 3,991
Total liabilities 118,971 122,358
Minority interest 7,055 7,235
Shareholders' equity 84,023 80,205
Total liabilities & shareholders' equity 210,049 209,798
Current Ratio 1.42 1.61
Net Debt to Equity 0.44 0.43
* Figures above reflect consolidation of USI starting in February 2010.
Universal Scientific Industrial Co., Ltd.
Summary of Consolidated Balance Sheet Data
(In NT$ millions)
(Unaudited)
As of Jun. 30, 2010 As of Mar. 31, 2010
Current assets:
Cash and cash equivalents 10,769 10,144
Financial assets -- current 415 597
Notes and accounts receivable 13,405 14,054
Inventories 7,455 6,892
Others 596 541
Total current assets 32,640 32,228
Financial assets -- non current 571 575
Properties -- net 4,975 4,886
Intangible assets 158 155
Others 995 941
Total assets 39,339 38,785
Current liabilities:
Short-term debts -- revolving credit 5,592 5,219
Current portion of long-term debts -- 140
Notes and accounts payable 13,525 14,160
Others 3,827 2,104
Total current liabilities 22,944 21,623
Long-term debts 200 210
Other liabilities 340 334
Total liabilities 23,484 22,167
Minority interest 35 33
Shareholders' equity 15,820 16,585
Total liabilities & shareholders' equity 39,339 38,785
Contact:
ASE, Inc.
Tel: +886-2-8780-5489
Fax: +886-2-2757-6121
http://www.aseglobal.com
Joseph Tung, CFO / Vice President
Allen Kan, Manager
Email: ir@aseglobal.com
Clare Lin, Director (US Contact)
Email: clare.lin@aseus.com
Tel: +1-408-986-6524
SOURCE ASE, Inc.
| Contact: |
| Advanced Semiconductor Engineering, Inc.
Joseph Tung, CFO and Vice President, Allen Kan, Manager, both of ASE, Inc. Phone: +886-2-8780-5489, Fax Phone: +886-2-2757-6121 Email Contact Clare Lin, Director Phone: +1-408-986-6524 Email Contact Web: http://www.aseglobal.com |