TAIPEI, Feb. 6, 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$76,644 million for
the fourth quarter of 2014 (4Q14), up by 19% year-over-year and up
by 15% sequentially. Net income attributable to shareholders
of the parent for the quarter totaled NT$7,856 million, up from a net income
attributable to shareholders of the parent of NT$5,208 million in 4Q13 and up from a net income
attributable to shareholders of the parent of NT$7,205 million in 3Q14. Diluted earnings
per share for the quarter were NT$0.99 (or US$0.162 per ADS), compared to diluted earnings
per share of NT$0.66 for 4Q13 and
NT$0.82 for 3Q14.
For the full year 2014, the Company reported net revenues of
NT$256,591 million and net income
attributable to shareholders of the parent of NT$23,593 million. Diluted earnings per
share for the full year 2014 were NT$2.95 (or US$0.489 per ADS).
RESULTS OF OPERATIONS
4Q14 Results Highlights - Consolidated
- Net revenue contribution from packaging operations, testing
operations, EMS operations, substrates sold to third parties and
others each represented approximately 42%, 9%, 48%, 1% and 0%,
respectively, of total net revenues for the quarter.
- Cost of revenue was NT$60,251
million for the quarter, up by 17% year-over-year and up
from NT$52,434 million in the
previous quarter.
- Raw material cost totaled NT$36,981
million during the quarter, representing 48% of total net
revenues, compared with NT$29,910
million and 45% of total net revenues in the previous
quarter.
- Labor cost totaled NT$8,940
million during the quarter, representing 12% of total net
revenues, compared with NT$8,733
million and 13% of total net revenues in the previous
quarter.
- Depreciation, amortization and rental expenses totaled
NT$6,807 million during the quarter,
up by 9% year-over-year and up by 8% sequentially.
- Gross margin increased 0.1 percentage points to 21.4% in 4Q14
from 21.3% in 3Q14.
- Total operating expenses during 4Q14 were NT$6,576 million, including NT$2,770 million in R&D and NT$3,806 million in SG&A, compared with total
operating expenses of NT$6,114
million in 3Q14. Total operating expenses as a percentage of
net revenues was 9% in 4Q14, remained the same as 4Q13 and
3Q14.
- Operating income for the quarter totaled NT$9,817 million, up from NT$8,084 million in the previous quarter.
Operating margin was 12.8% in 4Q14 compared to 12.1% in 3Q14.
- In terms of non-operating items:
- Net interest expense was NT$546
million, up from NT$504
million in 3Q14.
- Net foreign exchange loss of NT$1,051
million was primarily attributable to the appreciation of
the U.S. dollar against the NT dollar.
- Loss on equity-method investments of NT$28 million was primarily attributable to the
loss from investment on Hung Ching Development & Construction
Co. Ltd.
- Gain on valuation of financial assets and liabilities was
NT$1,190 million.
- Other net non-operating income of NT$168
million was primarily related to miscellaneous income. Total
non-operating expenses for the quarter were NT$267 million, compared to total non-operating
expenses of NT$1,147 million for 4Q13
and total non-operating income of NT$506
million for 3Q14.
- Income before tax was NT$9,550
million for 4Q14, compared to NT$8,590 million in the previous quarter. We
recorded income tax expense of NT$1,470
million during the quarter, compared to NT$1,237 million in 3Q14.
- In 4Q14, net income attributable to shareholders of the parent
was NT$7,856 million, compared to net
income attributable to shareholders of the parent of NT$5,208 million for 4Q13 and net income
attributable to shareholders of the parent of NT$7,205 million for 3Q14.
- Our total number of shares outstanding at the end of the
quarter was 7,860,491,546, including treasury stock owned by our
subsidiaries. Our 4Q14 diluted earnings per share of NT$0.99 (or US$0.162 per ADS) were based on 8,192,428,220
weighted average number of shares outstanding in 4Q14.
4Q14 Results Highlights - IC ATM[2]
- Net revenue contribution from IC ATM operations was
NT$43,884 million for the quarter, up
by 16% year-over-year and up by 4% sequentially. Net revenue
contribution from packaging operations, testing operations, and
substrates sold to third parties was NT$36,359 million, NT$6,663 million, and NT$862 million, respectively, and each
represented approximately 83%, 15%, and 2%, respectively, of total
net revenues for the quarter.
- Cost of revenues was NT$30,130
million for the quarter, up by 10% year-over-year and down
by 0.03% sequentially.
- Raw material cost totaled NT$9,137
million during the quarter, representing 21% of total net
revenues, compared with NT$9,466
million and 22% of total net revenues in the previous
quarter.
- Labor cost totaled NT$7,823
million during the quarter, representing 18% of total net
revenues, compared with NT$7,791
million and 18% of total net revenues in the previous
quarter.
- Depreciation, amortization and rental expenses totaled
NT$6,437 million during the quarter,
up by 9% year-over-year and up by 6% sequentially.
- Gross margin increased 2.7 percentage points to 31.3% in 4Q14
from 28.6% in 3Q14.
- Total operating expenses during 4Q14 were NT$4,849 million, including NT$2,140 million in R&D and NT$2,709 million in SG&A, compared with total
operating expenses of NT$4,725
million in 3Q14. Total operating expenses as a percentage of
net revenues was 11% in 4Q14, remained the same as 4Q13 and
3Q14.
- Operating income for the quarter totaled NT$8,905 million, up from NT$7,348 million in the previous quarter.
Operating margin was 20.3% in 4Q14 compared to 17.4% in 3Q14.
4Q14 Results Highlights - EMS
- Net revenue contribution from EMS operations for the quarter
was NT$37,220 million, up by 31%
year-over-year and up by 39% sequentially.
- Cost of revenues for the quarter was NT$34,292 million, up by 31% year-over-year and
up by 40% sequentially.
- Raw material cost totaled NT$27,855
million during the quarter, representing 75% of total net
revenues, compared with NT$20,457
million and 76% of total net revenues in the previous
quarter.
- Labor cost totaled NT$1,117
million during the quarter, representing 3% of total net
revenues, compared with NT$943
million and 4% of total net revenues in the previous
quarter.
- Depreciation, amortization and rental expenses totaled
NT$372 million during the quarter, up
by 29% year-over-year and up by 38% sequentially.
- Gross margin decreased to 7.9% in 4Q14 from 8.6% in 3Q14.
- Total operating expenses during 4Q14 were NT$1,704 million, including NT$658 million in R&D and NT$1,046 million in SG&A, compared with total
operating expenses of NT$1,383
million in 3Q14. Total operating expenses as a percentage of
net revenues was 5% in 4Q14, up from 4% in 4Q13 and the same as
3Q14.
- Operating income for the quarter totaled NT$1,224 million, up from NT$906 million in the previous quarter. Operating
margin decreased to 3.3% in 4Q14 from 3.4% in 3Q14.
2014 Full-Year Results Highlights - Consolidated
- Net revenues for the full year 2014 amounted to NT$256,591 million, up by 17% from 2013. The
revenue contribution from packaging operations, testing operations,
EMS operations, substrates sold to third parties and others
represented approximately 47%, 10%, 41%, 2% and 0%, respectively,
of total net revenues for the year.
- Cost of revenue for the year 2014 was NT$203,051 million, compared with NT$177,048 million in 2013.
- Raw material cost totaled NT$116,999
million during the year, representing 46% of total net
revenues, compared with NT$100,315
million and 46% of total net revenues in the 2013.
- Labor cost totaled NT$33,292
million during the year, representing 13% of total net
revenues, compared with NT$28,062
million and 13% of total net revenues in 2013.
- Depreciation, amortization and rental expenses totaled
NT$25,387 million during the year,
representing 10% of total net revenues, compared with NT$24,447 million and 11% of total net revenues
in 2013.
- Gross margin increased 1.4 percentage points to 20.9% in 2014
from 19.5% in 2013.
- Total operating expenses during 2014 were NT$23,969 million, including NT$10,296 million in R&D and NT$13,673 million in SG&A. Total operating
expenses as a percentage of net revenues were 9% in 2014, and
remained the same as 2013.
- Operating income for the year was NT$29,571 million, compared to operating income
of NT$ 22,044 million for the
previous year. Operating margin increased to 11.5% in 2014 from
10.0% in 2013.
- Total non-operating expenses for the year were NT$1,097 million, compared to total non-operating
expenses of NT$2,687 million for
2013.
- Income before tax was NT$28,474
million for 2014. We recognized an income tax expense of
NT$4,252 million during the
year.
- In 2014, net income attributable to shareholders of the parent
amounted to NT$23,593 million,
compared with a net income attributable to shareholders of the
parent of NT$15,689 million in
2013.
- Our total number of shares outstanding at the end of the year
was 7,860,491,546, including treasury stock owned by our
subsidiaries. Our 2014 diluted earnings per share of NT$2.95 (or US$0.489 per ADS) were based on 8,220,694,389
weighted average number of shares outstanding in 2013.
2014 Full-Year Results Highlights - IC ATM
- Net revenue contribution from IC ATM operations for the full
year 2014 amounted to NT$159,712
million, up by 11% from 2013. The revenue contribution from
packaging operations, testing operations, and substrates sold to
third parties was NT$130,287 million,
NT$25,875 million, and NT$3,550 million, respectively, and represented
approximately 82%, 16%, and 2%, respectively, of total net revenues
for the year.
- Cost of revenues for the full year 2014 was NT$115,054 million, compared with NT$108,281 million in 2013.
- Raw material cost totaled NT$36,409
million during the year, representing 23% of total net
revenues, compared with NT$38,250
million and 27% of total net revenues in 2013.
- Labor cost totaled NT$29,568
million during the year, representing 19% of total net
revenues, compared with NT$25,147
million and 18% of total net revenues in 2013.
- Depreciation, amortization and rental expenses totaled
NT$24,189 million during the year,
representing 15% of total net revenues, compared with NT$23,051 million and 16% of total net revenues
in 2013.
- Gross margin increased to 28.0% in 2014 from 24.4% in
2013.
- Total operating expenses during 2014 were NT$18,222 million, including NT$8,156 million in R&D and NT$10,066 million in SG&A. Total operating
expenses as a percentage of net revenues was 11% in 2014, and
remained the same as 2013.
- Operating income for the year was NT$26,436 million, compared to operating income
of NT$19,011 million for the previous
year. Operating margin increased to 16.6% in 2014 from 13.3% in
2013.
2014 Full-Year Results Highlights - EMS
- Net revenue contribution from EMS operations for the full year
2014 amounted to NT$105,871 million,
up by 35% from 2013.
- Cost of revenues was NT$96,556
million, up by 36% from 2013.
- Raw material cost totaled NT$80,638
million during the year, representing 76% of total net
revenues, compared with NT$62,112
million and 79% of total net revenues in 2013.
- Labor cost totaled NT$3,724
million during the year, representing 4% of total net
revenues, compared with NT$2,915
million and 4% of total net revenues in 2013.
- Depreciation, amortization and rental expenses totaled
NT$1,169 million during the year,
representing 1% of total net revenues, compared with NT$1,075 million and 1% of total net revenues in
2013.
- Gross margin decreased to 8.8% in 2014 from 9.6% in 2013.
- Total operating expenses during 2014 were NT$5,660 million, including NT$2,235 million in R&D and NT$3,425 million in SG&A. Total operating
expenses as a percentage of net revenues was 5% in 2014, down from
6% in 2013.
- Operating income for the year was NT$3,655 million, compared to operating income of
NT$2,942 million for the previous
year. Operating margin decreased to 3.5% in 2014 from 3.7% in
2013.
LIQUIDITY AND CAPITAL RESOURCES
- As of December 31, 2014, our cash
and current financial assets totaled NT$58,216 million, compared to NT$36,785 million as of September 30, 2014.
- Capital expenditures in 4Q14 totaled US$148 million, of which US$65 million were used for packaging,
US$26 million for testing,
US$55 million for EMS and
US$2 million for interconnect
materials.
- For the full year 2014, we spent US$1,054 million for capital expenditures,
including US$668 million for
packaging, US$177 million for
testing, US$187 million for EMS and
US$22 million for interconnect
materials.
- As of December 31, 2014, we had
total debt of NT$99,387 million,
compared to NT$94,918 million as of
September 30, 2014. Total debt
consisted of NT$41,176 million of
short-term borrowings, NT$2,835
million of the current portion of long-term borrowings and
capital lease obligations and NT$55,376
million of bonds payable, long-term borrowings and capital
lease obligations. Total unused credit lines amounted to
NT$141,400 million.
- Current ratio as of December 31,
2014 was 1.44, compared to 1.24 as of September 30, 2014. Net debt to equity ratio was
0.26 as of December 31, 2014.
- Total number of employees was 68,100 as of December 31, 2014, compared to 60,199 as of
December 31, 2013 and 66,091 as of
September 30, 2014.
BUSINESS REVIEW
Packaging Operations[3]
- Net revenues generated from our packaging operations were
NT$36,359 million during the quarter,
up by NT$5,430 million, or by 18%
year-over-year, and up by NT$2,010
million, or by 6% sequentially.
- Net revenues from advanced packaging accounted for 38% of our
total packaging net revenues during the quarter, up by 9 percentage
points from the previous quarter. Net revenues from IC wirebonding
accounted for 53% of our total packaging net revenues during the
quarter, down by 8 percentage points from the previous quarter. Net
revenues from discrete and others accounted for 9% of our total
packaging net revenues during the quarter, down by one percentage
point from the previous quarter.
- Gross margin for our packaging operations during the quarter
was 29.6%, up by 4.4 percentage points year-over-year and up by 3.8
percentage points from the previous quarter.
- Capital expenditures for our packaging operations amounted to
US$65 million during the quarter, of
which US$25 million were used for
purchases of wafer bumping and flip chip packaging equipment,
US$39 million for common equipment
purchases, including SiP equipment purchases, and US$1 million for wirebond packaging specific
purposes.
- As of December 31, 2014, there
were 15,792 wirebonders in operation. 26 wirebonders were added and
228 wirebonders were disposed of during the quarter.
Testing Operations
- Net revenues generated from our testing operations were
NT$6,663 million during the quarter,
up by NT$438 million, or by 7%
year-over-year, and down by NT$164
million, or by 2% sequentially.
- Final testing accounted for 75% of our total testing net
revenues, down by 1 percentage point from the previous quarter.
Wafer sort accounted for 21% of our total testing net revenues,
remained the same as the previous quarter. Engineering testing
accounted for 4% of our total testing net revenues, up by 1
percentage point from the previous quarter.
- Depreciation, amortization and rental expense associated with
our testing operations amounted to NT$1,669
million, down from NT$1,693
million in 4Q13 and up from NT$1,634
million in 3Q14.
- In 4Q14, gross margin for our testing operations was 38.8%, up
by 2.3 percentage points year-over-year and down by 1.0 percentage
point from the previous quarter.
- Capital expenditures for our testing operations amounted to
US$26 million during the
quarter.
- As of December 31, 2014, there
were 3,267 testers in operation. 94 testers were added and 122
testers were disposed of during the quarter.
EMS Operations
- Net revenues generated from our EMS operations were
NT$37,220 million during the quarter,
up by NT$8,800 million, or by 31%
year-over-year, and up by NT$10,454
million, or by 39% sequentially.
- Communications products accounted for 67% of our total net
revenues from EMS operations for the quarter, up by 12 percentage
points from the previous quarter. Computing products accounted for
13% of our total net revenues from EMS operations, down by 4
percentage points from the previous quarter. Consumer products
accounted for 7% of our total net revenues from EMS operations,
down by 2 percentage points from the previous quarter. Industrial
products accounted for 8% of our total net revenues from EMS
operations, down by 3 percentage points from the previous quarter.
Automotive products accounted for 5% of our total net revenues from
EMS operations, down by 2 percentage points from the previous
quarter.
- In 4Q14, gross margin for our EMS operations was 7.9%, up by
0.2 percentage points year-over-year and down by 0.7 percentage
points from the previous quarter.
- Capital expenditures for our EMS operations amounted to
US$55 million during the
quarter.
Substrate Operations
- PBGA substrate manufactured by ASE amounted to NT$2,283 million during the quarter, up by
NT$159 million, or by 7%
year-over-year, and down by NT$284
million, or by 11% from the previous quarter. Of the total
output of NT$ 2,283 million,
NT$861 million was from sales to
external customers.
- Gross margin for substrate operations was 19.1% during the
quarter, up by 1.2 percentage points year-over-year and down by 0.6
percentage points from the previous quarter.
- In 4Q14, our internal substrate manufacturing operations
supplied 30% (by value) of our total substrate requirements.
Customers
IC ATM consolidated Basis
- Our five largest customers together accounted for approximately
42% of our total net revenues in 4Q14, compared to 38% in 4Q13 and
37% in 3Q14. Two customers accounted for more than 10% of our total
net revenues in 4Q14.
- Our top 10 customers contributed 56% of our total net revenues
during the quarter, compared to 52% in 4Q13 and 51% in 3Q14.
- Our customers that are integrated device manufacturers, or
IDMs, accounted for 31% of our total net revenues during the
quarter, compared to 34% in 4Q13 and 33% in 3Q14.
EMS Basis
- Our five largest customers together accounted for approximately
78% of our total net revenues in 4Q14, compared to 81% in 4Q13 and
73% in 3Q14. One customer accounted for more than 10% of our total
net revenues in 4Q14.
- Our top 10 customers contributed 88% of our total net revenues
during the quarter, compared to 90% in 4Q13 and 87% in 3Q14.
OUTLOOK
Based on our current business outlook and exchange rate
assumptions, management projects overall performance for the first
quarter of 2015 to be as follows:
- IC ATM production capacity and blended ASP will be flat;
blended IC ATM utilization will come down by 10-15%;
- The pace for our EMS Q1 sequential change should be similar to
2014Q1;
- Consolidated gross margin and operating margin should both be
similar to 2014Q1.
Note:
[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.
|
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 2013 Annual Report on Form 20-F filed on April 17, 2014.
Supplemental
Financial Information
|
|
IC ATM
Consolidated Operations
|
Amounts in NT$
Millions
|
4Q/14
|
3Q/14
|
4Q/13
|
Net
Revenues
|
43,884
|
42,211
|
37,900
|
Revenues by
Application
|
|
|
|
Communication
|
58%
|
53%
|
57%
|
Computer
|
11%
|
12%
|
10%
|
Automotive and
Consumer
|
31%
|
35%
|
33%
|
Others
|
0%
|
0%
|
0%
|
Revenues by
Region
|
|
|
|
North
America
|
65%
|
62%
|
63%
|
Europe
|
9%
|
10%
|
10%
|
Taiwan
|
16%
|
18%
|
16%
|
Japan
|
5%
|
6%
|
6%
|
Other Asia
|
5%
|
4%
|
5%
|
|
Packaging
Operations
|
Amounts in NT$
Millions
|
4Q/14
|
3Q/14
|
4Q/13
|
Net
Revenues
|
36,359
|
34,349
|
30,929
|
Revenues by
Packaging Type
|
|
|
|
Advanced
Packaging
|
38%
|
29%
|
33%
|
IC
Wirebonding
|
53%
|
61%
|
57%
|
Discrete and
Others
|
9%
|
10%
|
10%
|
Capacity
|
|
|
|
CapEx (US$
Millions)*
|
65
|
281
|
46
|
Number of
Wirebonders
|
15,792
|
15,994
|
15,692
|
|
|
|
|
Testing
Operations
|
Amounts in NT$
Millions
|
4Q/14
|
3Q/14
|
4Q/13
|
Net
Revenues
|
6,663
|
6,827
|
6,225
|
Revenues by
Testing Type
|
|
|
|
Final test
|
75%
|
76%
|
77%
|
Wafer sort
|
21%
|
21%
|
21%
|
Engineering
test
|
4%
|
3%
|
2%
|
Capacity
|
|
|
|
CapEx (US$
Millions)*
|
26
|
70
|
17
|
Number of
Testers
|
3,267
|
3,295
|
3,117
|
|
|
|
|
EMS
Operations
|
Amounts in NT$
Millions
|
4Q/14
|
3Q/14
|
4Q/13
|
Net
Revenues
|
37,220
|
26,766
|
28,420
|
Revenues by End
Application
|
|
|
|
Communication
|
67%
|
55%
|
61%
|
Computer
|
13%
|
17%
|
16%
|
Consumer
|
7%
|
9%
|
8%
|
Industrial
|
8%
|
11%
|
9%
|
Automotive
|
5%
|
7%
|
5%
|
Others
|
0%
|
1%
|
1%
|
Capacity
|
|
|
|
CapEx (US$
Millions)*
|
55
|
74
|
12
|
|
|
|
|
* Capital
expenditure amounts exclude building construction costs.
|
|
|
|
Advanced
Semiconductor Engineering, Inc.
Summary of
Consolidated Statement of Comprehensive Income Data
(In NT$ millions,
except per share data)
(Unaudited)
|
|
|
|
|
|
For the three months
ended
|
|
For the period
ended
|
|
Dec. 31
2014
|
|
Sep. 30
2014
|
|
Dec. 31
2013
|
|
Dec. 31
2014
|
|
Dec. 31
2013
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
Packaging
|
31,942
|
|
32,031
|
|
28,703
|
|
121,336
|
|
112,604
|
Testing
|
6,663
|
|
6,827
|
|
6,225
|
|
25,875
|
|
24,732
|
Direct
Material
|
861
|
|
1,033
|
|
746
|
|
3,546
|
|
2,951
|
EMS
|
37,178
|
|
26,741
|
|
28,411
|
|
105,785
|
|
78,531
|
Others
|
-
|
|
-
|
|
79
|
|
49
|
|
1,044
|
Total net
revenues
|
76,644
|
|
66,632
|
|
64,164
|
|
256,591
|
|
219,862
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(60,251)
|
|
(52,434)
|
|
(51,654)
|
|
(203,051)
|
|
(177,048)
|
Gross
profit
|
16,393
|
|
14,198
|
|
12,510
|
|
53,540
|
|
42,814
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Research and development
|
(2,770)
|
|
(2,552)
|
|
(2,404)
|
|
(10,296)
|
|
(9,069)
|
Selling, general and administrative
|
(3,806)
|
|
(3,562)
|
|
(3,167)
|
|
(13,673)
|
|
(11,701)
|
Total operating
expenses
|
(6,576)
|
|
(6,114)
|
|
(5,571)
|
|
(23,969)
|
|
(20,770)
|
Operating
income
|
9,817
|
|
8,084
|
|
6,939
|
|
29,571
|
|
22,044
|
|
|
|
|
|
|
|
|
|
|
Net non-operating
(expenses) income:
|
|
|
|
|
|
|
|
|
|
Interest expense -
net
|
(546)
|
|
(504)
|
|
(567)
|
|
(2,081)
|
|
(2,044)
|
Foreign exchange gain
(loss)
|
(1,051)
|
|
(214)
|
|
(82)
|
|
(1,222)
|
|
(276)
|
Gain (loss) on
equity-method investments
|
(28)
|
|
14
|
|
50
|
|
(109)
|
|
26
|
Gain (loss) on valuation of financial assets
and liabilities
|
1,190
|
|
1,294
|
|
135
|
|
1,840
|
|
891
|
Others
|
168
|
|
(84)
|
|
(683)
|
|
475
|
|
(1,284)
|
Total non-operating
income (expenses)
|
(267)
|
|
506
|
|
(1,147)
|
|
(1,097)
|
|
(2,687)
|
Income before
tax
|
9,550
|
|
8,590
|
|
5,792
|
|
28,474
|
|
19,357
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(1,470)
|
|
(1,237)
|
|
(450)
|
|
(4,252)
|
|
(3,202)
|
Income from
continuing operations and
before
noncontrolling interest
|
8,080
|
|
7,353
|
|
5,342
|
|
24,222
|
|
16,155
|
Noncontrolling
interest
|
(224)
|
|
(148)
|
|
(134)
|
|
(629)
|
|
(466)
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to
shareholders of the
parent
|
7,856
|
|
7,205
|
|
5,208
|
|
23,593
|
|
15,689
|
|
|
|
|
|
|
|
|
|
|
Per share
data:
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per
share
|
|
|
|
|
|
|
|
|
|
- Basic
|
NT$1.02
|
|
NT$0.94
|
|
NT$0.68
|
|
NT$3.07
|
|
NT$2.09
|
- Diluted
|
NT$0.99
|
|
NT$0.82
|
|
NT$0.66
|
|
NT$2.95
|
|
NT$2.03
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per
equivalent ADS
|
|
|
|
|
|
|
|
|
|
- Basic
|
US$0.166
|
|
US$0.156
|
|
US$0.116
|
|
US$0.508
|
|
US$0.353
|
- Diluted
|
US$0.162
|
|
US$0.137
|
|
US$0.112
|
|
US$0.489
|
|
US$0.343
|
|
|
|
|
|
|
|
|
|
|
Number of weighted
average shares used in
diluted EPS calculation
(in thousands)
|
8,192,428
|
|
8,194,417
|
|
8,068,780
|
|
8,220,694
|
|
7,747,631
|
|
|
|
|
|
|
|
|
|
|
Exchange rate (NT$
per US$1)
|
30.61
|
|
29.92
|
|
29.44
|
|
30.20
|
|
29.60
|
|
|
|
|
|
|
|
|
|
|
Advanced
Semiconductor Engineering, Inc.
Summary of
Consolidated Statement of Comprehensive Income Data - IC
ATM
(In NT$ millions,
except per share data)
(Unaudited)
|
|
|
|
|
|
For the three months
ended
|
|
For the period
ended
|
|
Dec. 31
2014
|
|
Sep. 30
2014
|
|
Dec. 31
2013
|
|
Dec. 31
2014
|
|
Dec. 31
2013
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
Packaging
|
36,359
|
|
34,349
|
|
30,929
|
|
130,287
|
|
115,639
|
Testing
|
6,663
|
|
6,827
|
|
6,225
|
|
25,875
|
|
24,732
|
Direct
Material
|
862
|
|
1,035
|
|
746
|
|
3,550
|
|
2,951
|
Total net
revenues
|
43,884
|
|
42,211
|
|
37,900
|
|
159,712
|
|
143,322
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(30,130)
|
|
(30,138)
|
|
(27,452)
|
|
(115,054)
|
|
(108,281)
|
Gross
profit
|
13,754
|
|
12,073
|
|
10,448
|
|
44,658
|
|
35,041
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(2,140)
|
|
(2,011)
|
|
(1,937)
|
|
(8,156)
|
|
(7,276)
|
Selling, general and
administrative
|
(2,709)
|
|
(2,714)
|
|
(2,362)
|
|
(10,066)
|
|
(8,754)
|
Total operating
expenses
|
(4,849)
|
|
(4,725)
|
|
(4,299)
|
|
(18,222)
|
|
(16,030)
|
Operating
income
|
8,905
|
|
7,348
|
|
6,149
|
|
26,436
|
|
19,011
|
|
|
|
|
|
|
|
|
|
|
Net non-operating
(expenses) income:
|
|
|
|
|
|
|
|
|
|
Interest expense -
net
|
(547)
|
|
(528)
|
|
(587)
|
|
(2,141)
|
|
(2,140)
|
Foreign exchange gain
(loss)
|
(1,005)
|
|
(184)
|
|
(56)
|
|
(1,199)
|
|
(209)
|
Gain (loss) on
equity-method investments
|
647
|
|
575
|
|
717
|
|
2,181
|
|
2,265
|
Gain (loss) on valuation of financial assets
and liabilities
|
1,094
|
|
1,197
|
|
68
|
|
1,568
|
|
549
|
Others
|
167
|
|
(42)
|
|
(637)
|
|
599
|
|
(1,079)
|
Total non-operating
income (expenses)
|
356
|
|
1,018
|
|
(495)
|
|
1,008
|
|
(614)
|
Income before
tax
|
9,261
|
|
8,366
|
|
5,654
|
|
27,444
|
|
18,397
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(1,340)
|
|
(1,105)
|
|
(405)
|
|
(3,662)
|
|
(2,547)
|
Income from
continuing operations and
before noncontrolling
interest
|
7,921
|
|
7,261
|
|
5,249
|
|
23,782
|
|
15,850
|
Noncontrolling
interest
|
(65)
|
|
(56)
|
|
(41)
|
|
(189)
|
|
(161)
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to
shareholders of the
parent
|
7,856
|
|
7,205
|
|
5,208
|
|
23,593
|
|
15,689
|
|
|
|
|
|
|
|
|
|
|
Per share
data:
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per
share
|
|
|
|
|
|
|
|
|
|
- Basic
|
NT$1.02
|
|
NT$0.94
|
|
NT$0.68
|
|
NT$3.07
|
|
NT$2.09
|
- Diluted
|
NT$0.99
|
|
NT$0.82
|
|
NT$0.66
|
|
NT$2.95
|
|
NT$2.03
|
|
|
|
|
|
|
|
|
|
|
Number of weighted average shares used in
diluted EPS calculation
(in thousands)
|
8,192,428
|
|
8,194,417
|
|
8,068,780
|
|
8,220,694
|
|
7,747,631
|
Universal
Scientific Industrial Co., Ltd.
Summary of
Consolidated Statement of Comprehensive Income Data -
EMS
(In NT$ millions,
except per share data)
(Unaudited)
|
|
|
|
|
|
For the three months
ended
|
|
For the period
ended
|
|
Dec. 31
2014
|
|
Sep. 30
2014
|
|
Dec. 31
2013
|
|
Dec. 31
2014
|
|
Dec. 31
2013
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
Total net
revenues
|
37,220
|
|
26,766
|
|
28,420
|
|
105,871
|
|
78,540
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(34,292)
|
|
(24,477)
|
|
(26,231)
|
|
(96,556)
|
|
(70,971)
|
Gross
profit
|
2,928
|
|
2,289
|
|
2,189
|
|
9,315
|
|
7,569
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(658)
|
|
(561)
|
|
(492)
|
|
(2,235)
|
|
(1,865)
|
Selling, general and
administrative
|
(1,046)
|
|
(822)
|
|
(739)
|
|
(3,425)
|
|
(2,762)
|
Total operating
expenses
|
(1,704)
|
|
(1,383)
|
|
(1,231)
|
|
(5,660)
|
|
(4,627)
|
Operating
income
|
1,224
|
|
906
|
|
958
|
|
3,655
|
|
2,942
|
|
|
|
|
|
|
|
|
|
|
Net non-operating
(expenses) income:
|
|
|
|
|
|
|
|
|
|
Total non-operating
income
|
114
|
|
110
|
|
59
|
|
417
|
|
296
|
Income before
tax
|
1,338
|
|
1,016
|
|
1,017
|
|
4,072
|
|
3,238
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(139)
|
|
(138)
|
|
(26)
|
|
(620)
|
|
(348)
|
Income from continuing operations and
before noncontrolling
interest
|
1,199
|
|
878
|
|
991
|
|
3,452
|
|
2,890
|
Noncontrolling
interest
|
(158)
|
|
(93)
|
|
(93)
|
|
(446)
|
|
(308)
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to
shareholders of the
parent
|
1,041
|
|
785
|
|
898
|
|
3,006
|
|
2,582
|
Advanced
Semiconductor Engineering, Inc.
Summary of
Consolidated Balance Sheet Data
(In NT$
millions)
(Unaudited)
|
|
|
|
|
|
|
|
As of Dec. 31,
2014
|
|
As of Sep. 30,
2014
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
51,694
|
|
|
32,968
|
Financial assets -
current
|
|
|
6,522
|
|
|
3,817
|
Notes and accounts
receivable
|
|
|
52,921
|
|
|
48,495
|
Inventories
|
|
|
44,150
|
|
|
42,264
|
Others
|
|
|
4,668
|
|
|
5,682
|
Total current
assets
|
|
|
159,955
|
|
|
133,226
|
|
|
|
|
|
|
|
Financial assets -
non current & Investments -
equity method
|
|
|
2,434
|
|
|
2,475
|
Property plant and
equipment
|
|
|
151,587
|
|
|
148,998
|
Intangible
assets
|
|
|
11,913
|
|
|
11,880
|
Prepaid lease
payments
|
|
|
2,586
|
|
|
2,496
|
Others
|
|
|
5,496
|
|
|
5,652
|
Total
assets
|
|
|
333,971
|
|
|
304,727
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Short-term
borrowings
|
|
|
41,176
|
|
|
38,672
|
Current portion of
bonds payable
|
|
|
0
|
|
|
0
|
Current portion of
long-term borrowings & capital
lease obligations
|
|
|
2,835
|
|
|
3,226
|
Notes and accounts
payable
|
|
|
35,411
|
|
|
34,882
|
Others
|
|
|
31,777
|
|
|
30,370
|
Total current
liabilities
|
|
|
111,199
|
|
|
107,150
|
|
|
|
|
|
|
|
Bonds
payable
|
|
|
31,270
|
|
|
30,194
|
Long-term borrowings
& capital lease obligations
|
|
|
24,106
|
|
|
22,826
|
Other
liabilities
|
|
|
8,960
|
|
|
8,446
|
Total
liabilities
|
|
|
175,535
|
|
|
168,616
|
Shareholders of the
parent
|
|
|
150,217
|
|
|
131,488
|
|
|
|
|
|
|
|
Noncontrolling
interest
|
|
|
8,219
|
|
|
4,623
|
Total liabilities
& shareholders' equity
|
|
|
333,971
|
|
|
304,727
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
Ratio
|
|
|
1.44
|
|
|
1.24
|
Net Debt to
Equity
|
|
|
0.26
|
|
|
0.43
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact:
ASE, Inc.
|
Joseph Tung, Chief Financial
Officer
|
Room 1901, 333, Keelung Rd., Sec. 1
|
Eddie Chang, Senior Director
|
Taipei, Taiwan, 110
|
Joseph Su, Senior Manager
|
|
ir@aseglobal.com
|
|
|
Tel: +
886.2.6636.5678
|
Michelle Jao, Manager (US
Contact)
|
Fax: + 886.2.2757.6121
|
mjao@iselabs.com
|
http://www.aseglobal.com
|
Tel: + 1.510.687.2481
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/advanced-semiconductor-engineering-inc-reports-unaudited-consolidated-financial-results-for-the-fourth-quarter-and-full-year-of-2014-300032051.html
SOURCE Advanced Semiconductor Engineering, Inc.