TAIPEI, Taiwan, Jan. 29, 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$75,548 million for
the fourth quarter of 2015 (4Q15), down by 1% year-over-year and up
by 4% sequentially. Net income attributable to shareholders of the
parent for the quarter totaled NT$4,703
million, down from a net income attributable to shareholders
of the parent of NT$7,864 million in
4Q14 and down from a net income attributable to shareholders of the
parent of NT$6,368 million in 3Q15.
Basic earnings per share for the quarter were NT$0.62 (or US$0.095 per ADS), compared to basic earnings per
share of NT$1.02 for 4Q14 and
NT$0.83 for 3Q15. Diluted earnings
per share for the quarter were NT$0.60 (or US$0.092 per ADS), compared to diluted earnings
per share of NT$0.99 for 4Q14 and
NT$0.69 for 3Q15.
For the full year of 2015, the Company reported net revenues of
NT$283,302 million and net income
attributable to shareholders of the parent of NT$19,192 million. Basic earnings per share for
the full year of 2015 were NT$2.51
(or US$0.396 per ADS). Diluted
earnings per share for the full year of 2015 were NT$2.41 (or US$0.381 per ADS).
RESULTS OF OPERATIONS
4Q15 Results Highlights – Consolidated
- Net revenue contribution from packaging operations, testing
operations, EMS operations, substrates sold to third parties and
others, each represented approximately 39%, 8%, 52%, 1% and 0%,
respectively, of total net revenues for the quarter.
- Cost of revenue was NT$62,265
million for the quarter, up by 3% year-over-year and up from
NT$59,883 million in 3Q15.
- Raw material cost totaled NT$39,042
million during the quarter, representing 52% of total net
revenues, compared with NT$37,086
million and 51% of total net revenues in 3Q15.
- Labor cost totaled NT$8,613
million during the quarter, representing 11% of total net
revenues, compared with NT$8,742
million and 12% of total net revenues in 3Q15.
- Depreciation, amortization and rental expenses totaled
NT$6,967 million during the quarter,
up by 2% year-over-year and down by 2% sequentially.
- Gross margin decreased 0.2 percentage points to 17.6% in 4Q15
from 17.8% in 3Q15.
- Total operating expenses during 4Q15 were NT$6,454 million, including NT$2,804 million in R&D and NT$3,650 million in SG&A, compared with total
operating expenses of NT$6,605
million in 3Q15. Total operating expenses as a percentage of
net revenues were 9% in 4Q15, remained the same as 4Q14 and
3Q15.
- Operating income for the quarter totaled NT$6,829 million, up from NT$6,382 million in 3Q15. Operating margin was
9.0% in 4Q15 compared to 8.8% in 3Q15.
- In terms of non-operating items:
- Net interest expense was NT$538
million, up from NT$492
million in 3Q15.
- Net foreign exchange gain of NT$428
million was primarily attributable to the depreciation of
the U.S. dollar against the NT dollar.
- Gain on equity-method investments of NT$113 million was primarily attributable to the
share of profit from our investment in Siliconware Precision
Industries Co., Ltd ("SPIL").[2]
- Loss on valuation of financial assets and liabilities was
NT$722 million.
- Other net non-operating income of NT$179
million was primarily related to miscellaneous income. Total
non-operating expenses for the quarter were NT$540 million, compared to total non-operating
expenses of NT$268 million for 4Q14
and total non-operating income of NT$1,428
million for 3Q15.
- Income before tax was NT$6,289
million for 4Q15, compared to NT$7,810 million in 3Q15. We recorded income tax
expenses of NT$1,264 million during
the quarter, compared to NT$1,127
million in 3Q15.
- In 4Q15, net income attributable to shareholders of the parent
was NT$4,703 million, compared to net
income attributable to shareholders of the parent of NT$7,864 million for 4Q14 and net income
attributable to shareholders of the parent of NT$6,368 million for 3Q15.
- Our total number of shares outstanding at the end of the
quarter was 7,909,741,896, including treasury stock owned by our
subsidiaries. Our 4Q15 basic earnings per share of NT$0.62 (or US$0.095 per ADS) were based on 7,642,022,605
weighted average number of shares outstanding in 4Q15. Our 4Q15
diluted earnings per share of NT$0.60
(or US$0.092 per ADS) were based on
7,839,691,884 weighted average number of shares outstanding in
4Q15.
4Q15 Results Highlights – IC ATM[3]
- Net revenue contribution from IC ATM operations was
NT$38,406 million for the quarter,
down by 12% year-over-year and down by 4% sequentially. Net
revenue contribution from packaging operations, testing operations,
substrates sold to third parties and others was NT$31,121 million, NT$6,356 million, NT$910
million, and NT$19 million,
respectively, and each represented approximately 81%, 17%, 2% and
0%, respectively, of total net revenues for the quarter.
- Cost of revenues was NT$28,414
million for the quarter, down by 6% year-over-year and down
by 3% sequentially.
- Raw material cost totaled NT$8,305
million during the quarter, representing 22% of total net
revenues, compared with NT$8,641
million and 22% of total net revenues in 3Q15.
- Labor cost totaled NT$7,281
million during the quarter, representing 19% of total net
revenues, compared with NT$7,442
million and 19% of total net revenues in 3Q15.
- Depreciation, amortization and rental expenses totaled
NT$6,323 million during the quarter,
down by 2% year-over-year and down by 2% sequentially.
- Gross margin decreased 0.7 percentage points to 26.0% in 4Q15
from 26.7% in 3Q15.
- Total operating expenses during 4Q15 were NT$4,651 million, including NT$2,072 million in R&D and NT$2,579 million in SG&A, compared with total
operating expenses of NT$5,007
million in 3Q15. Total operating expenses as a percentage of
net revenues were 12% in 4Q15, up from 11% in 4Q14 and down from
13% in 3Q15.
- Operating income for the quarter totaled NT$5,341 million, down from NT$5,644 million in 3Q15. Operating margin was
13.9% in 4Q15 compared to 14.2% in 3Q15.
4Q15 Results Highlights – EMS
- Net revenue contribution from EMS operations for the quarter
was NT$39,347 million, up by 6%
year-over-year and up by 9% sequentially.
- Cost of revenues for the quarter was NT$36,473 million, up by 6% year-over-year and up
by 10% sequentially.
- Raw material cost totaled NT$30,870
million during the quarter, representing 78% of total net
revenues, compared with NT$28,234
million and 78% of total net revenues in 3Q15.
- Labor cost totaled NT$1,332
million during the quarter, representing 3% of total net
revenues, compared with NT$1,300
million and 4% of total net revenues in 3Q15.
- Depreciation, amortization and rental expenses totaled
NT$681 million during the quarter, up
by 83% year-over-year and up by 6% sequentially.
- Gross margin decreased to 7.3% in 4Q15 from 8.3% in 3Q15.
- Total operating expenses during 4Q15 were NT$1,798 million, including NT$760 million in R&D and NT$1,038 million in SG&A, compared with total
operating expenses of NT$1,606
million in 3Q15. Total operating expenses as a percentage of
net revenues were 5% in 4Q15, remained the same as 4Q14 and up from
4% in 3Q15.
- Operating income for the quarter totaled NT$1,076 million, down from NT$1,379 million in 3Q15. Operating margin
decreased to 2.7% in 4Q15 from 3.8% in 3Q15.
2015 Full-Year Results Highlights – Consolidated
- Net revenues for the full year of 2015 amounted to NT$283,302 million, up by 10% from 2014.
The revenue contribution from packaging operations, testing
operations, EMS operations, substrates sold to third parties and
others represented approximately 41%, 9%, 49%, 1% and 0%,
respectively, of total net revenues for the year.
- Cost of revenue for the year of 2015 was NT$233,153 million, compared with NT$203,002 million in 2014.
- Raw material cost totaled NT$141,779
million during the year, representing 50% of total net
revenues, compared with NT$116,999
million and 46% of total net revenues in the 2014.
- Labor cost totaled NT$34,706
million during the year, representing 12% of total net
revenues, compared with NT$33,243
million and 13% of total net revenues in 2014.
- Depreciation, amortization and rental expenses totaled
NT$28,192 million during the year,
representing 10% of total net revenues, compared with NT$25,387 million and 10% of total net revenues
in 2014
- Gross margin decreased 3.2 percentage points to 17.7% in 2015
from 20.9% in 2014.
- Total operating expenses during 2015 were NT$25,237 million, including NT$10,928 million in R&D and NT$14,309 million in SG&A. Total operating
expenses as a percentage of net revenues were 9% in 2015, and
remained the same as 2014.
- Operating income for the year was NT$24,912 million, compared to operating income
of NT$ 29,646 million for the
previous year. Operating margin decreased to 8.8% in 2015 from
11.6% in 2014.
- Total non-operating income for the year were NT$93 million, compared to total non-operating
expenses of NT$1,098 million for
2014.
- Income before tax was NT$25,005
million for 2015. We recognized an income tax expense of
NT$4,843 million during the
year.
- In 2015, net income attributable to shareholders of the parent
amounted to NT$19,192 million,
compared with a net income attributable to shareholders of the
parent of NT$23,637 million in
2014.
- Our total number of shares outstanding at the end of the year
was 7,909,741,896, including treasury stock owned by our
subsidiaries. Our 2015 basic earnings per share of NT$2.51 (or US$0.396 per ADS) were based on 7,652,772,685
weighted average number of shares outstanding in 2015. Our 2015
diluted earnings per share of NT$2.41
(or US$0.381 per ADS) were based on
8,249,692,992 weighted average number of shares outstanding in
2015.
2015 Full-Year Results Highlights – IC ATM
- Net revenue contribution from IC ATM operations for the full
year of 2015 amounted to NT$154,544
million, down by 3% from 2014. The revenue contribution from
packaging operations, testing operations, substrates sold to third
parties and others was NT$125,714
million, NT$25,192 million,
NT$3,564 million, and NT$74 million, respectively, and represented
approximately 82%, 16%, 2%, and 0%, respectively, of total net
revenues for the year.
- Cost of revenues for the full year of 2015 was NT$114,402 million, compared with NT$115,006 million in 2014.
- Raw material cost totaled NT$33,745
million during the year, representing 22% of total net
revenues, compared with NT$36,409
million and 23% of total net revenues in 2014.
- Labor cost totaled NT$29,371
million during the year, representing 19% of total net
revenues, compared with NT$29,519
million and 18% of total net revenues in 2014.
- Depreciation, amortization and rental expenses totaled
NT$25,867 million during the year,
representing 17% of total net revenues, compared with NT$24,189 million and 15% of total net revenues
in 2014.
- Gross margin decreased to 26.0% in 2015 from 28.0% in
2014.
- Total operating expenses during 2015 were NT$18,510 million, including NT$8,075 million in R&D and NT$10,435 million in SG&A. Total operating
expenses as a percentage of net revenues was 12% in 2015, up from
11% in 2014.
- Operating income for the year was NT$21,632 million, compared to operating income
of NT$26,500 million for 2014.
Operating margin decreased to 14.0% in 2015 from 16.6% in
2014.
2015 Full-Year Results Highlights – EMS
- Net revenue contribution from EMS operations for the full year
of 2015 amounted to NT$138,428
million, up by 31% from 2014.
- Cost of revenues was NT$128,098
million, up by 33% from 2014.
- Raw material cost totaled NT$107,586
million during the year, representing 78% of total net
revenues, compared with NT$80,638
million and 76% of total net revenues in 2014.
- Labor cost totaled NT$5,335
million during the year, representing 4% of total net
revenues, compared with NT$3,724
million and 4% of total net revenues in 2014.
- Depreciation, amortization and rental expenses totaled
NT$2,469 million during the year,
representing 2% of total net revenues, compared with NT$1,169 million and 1% of total net revenues in
2014.
- Gross margin decreased to 7.5% in 2015 from 8.8% in 2014.
- Total operating expenses during 2015 were NT$6,724 million, including NT$2,950 million in R&D and NT$3,774 million in SG&A. Total operating
expenses as a percentage of net revenues was 5% in 2015, and
remained the same as 2014.
- Operating income for the year was NT$3,606 million, compared to operating income of
NT$3,666 million for 2014. Operating
margin decreased to 2.6% in 2015 from 3.5% in 2014.
LIQUIDITY AND CAPITAL RESOURCES
- As of December 31, 2015, our cash
and current financial assets totaled NT$59,115 million, compared to NT$45,568 million as of September 30, 2015.
- Capital expenditures in 4Q15 totaled US$90 million, of which US$64 million were used for packaging,
US$18 million for testing,
US$5 million for EMS and US$3 million for interconnect materials.
- For the full year of 2015, we spent US$583 million for capital expenditures,
including US$353 million for
packaging, US$138 million for
testing, US$72 million for EMS,
US$18 million for interconnect
materials and US$2 million for real
estate.
- As of December 31, 2015, we had
total debt of NT$120,361 million,
compared to NT$124,546 million as of
September 30, 2015. Total debt
consisted of NT$36,983 million of
short-term borrowings, NT$16,843
million of the current portion of bonds payable, long-term
borrowings and capital lease obligations and NT$66,535 million of bonds payable, long-term
borrowings and capital lease obligations. Total unused credit lines
amounted to NT$159,253 million.
- Current ratio as of December 31,
2015 was 1.30, compared to 1.31 as of September 30, 2015. Net debt to equity ratio was
0.36 as of December 31, 2015.
- Total number of employees was 65,695 as of December 31, 2015, compared to 68,100 as of
December 31, 2014 and 67,116 as of
September 30, 2015.
BUSINESS REVIEW
Packaging Operations[4]
- Net revenues generated from our packaging operations were
NT$31,121 million during the quarter,
down by NT$5,238 million, or by 14%
year-over-year, and down by NT$1,368
million, or by 4% sequentially.
- Net revenues from advanced packaging accounted for 33% of our
total packaging net revenues during the quarter, down by 1
percentage point from 3Q15. Net revenues from IC wirebonding
accounted for 58% of our total packaging net revenues during the
quarter, up by 2 percentage points from 3Q15. Net revenues from
discrete and others accounted for 9% of our total packaging net
revenues during the quarter, down by 1 percentage point from
3Q15.
- Gross margin for our packaging operations during the quarter
was 23.6%, down by 6.0 percentage points year-over-year and down by
1.2 percentage points from 3Q15.
- Capital expenditures for our packaging operations amounted to
US$64 million during the quarter, of
which US$29 million were used for
purchases of wafer bumping and flip chip packaging equipment and
US$35 million for common equipment
purchases, including SiP equipment purchases.
- As of December 31, 2015, there
were 15,568 wirebonders in operation. 1 wirebonder was added and 50
wirebonders were disposed of during the quarter.
Testing Operations
- Net revenues generated from our testing operations were
NT$6,356 million during the quarter,
down by NT$307 million, or by 5%
year-over-year, and down by NT$70
million, or by 1% sequentially.
- Final testing accounted for 77% of our total testing net
revenues, up by 1 percentage point from the previous quarter. Wafer
sort accounted for 19% of our total testing net revenues, down by 1
percentage point from 3Q15. Engineering testing accounted for 4% of
our total testing net revenues, remained the same as 3Q15.
- Depreciation, amortization and rental expense associated with
our testing operations amounted to NT$1,676
million during the quarter, up from NT$1,669 million in 4Q14 and down from
NT$1,708 million in 3Q15.
- In 4Q15, gross margin for our testing operations was 37.6%,
down by 1.3 percentage points year-over-year and up by 1.5
percentage point from the previous quarter.
- Capital expenditures for our testing operations amounted to
US$18 million during the
quarter.
- As of December 31, 2015, there
were 3,435 testers in operation. 55 new testers were added and 37
testers were disposed of during the quarter.
EMS Operations
- Net revenues generated from our EMS operations were
NT$39,347 million during the quarter,
up by NT$2,127 million, or by 6%
year-over-year, and up by NT$3,186
million, or by 9% sequentially.
- Communications products accounted for 64% of our total net
revenues from EMS operations for the quarter, up by 8 percentage
points from 3Q15. Computing products accounted for 15% of our total
net revenues from EMS operations, up by 2 percentage points from
3Q15. Consumer products accounted for 11% of our total net revenues
from EMS operations, down by 8 percentage points from 3Q15.
Industrial products accounted for 5% of our total net revenues from
EMS operations, down by 2 percentage points from 3Q15. Automotive
products accounted for 4% of our total net revenues from EMS
operations, remained the same as the previous quarter.
- In 4Q15, gross margin for our EMS operations was 7.3%, down by
0.6 percentage points year-over-year and down by 1.0 percentage
points from the previous quarter.
- Capital expenditures for our EMS operations amounted to
US$5 million during the quarter.
Substrate Operations
- PBGA substrate manufactured by ASE amounted to NT$1,981 million during the quarter, down by
NT$302 million, or by 13%
year-over-year, and up by NT$27
million, or by 1% from 3Q15. Of the total output of
NT$1,981 million, NT$798 million was from sales to external
customers.
- Gross margin for substrate operations was 13.0% during the
quarter, down by 6.2 percentage points year-over-year and up by 1.9
percentage points from 3Q15.
- In 4Q15, our internal substrate manufacturing operations
supplied 25% (by value) of our total substrate requirements.
Customers
IC ATM CONSOLIDATED BASIS
- Our five largest customers together accounted for approximately
37% of our total net revenues in 4Q15, compared to 42% in 4Q14 and
38% in 3Q15. One customer accounted for more than 10% of our total
net revenues in 4Q15.
- Our top 10 customers contributed 54% of our total net revenues
during the quarter, compared to 56% in 4Q14 and 53% in 3Q15.
- Our customers that are integrated device manufacturers, or
IDMs, accounted for 33% of our total net revenues during the
quarter, compared to 31% in 4Q14 and 35% in 3Q15.
EMS BASIS
- Our five largest customers together accounted for approximately
85% of our total net revenues in 4Q15, compared to 78% in 4Q14 and
85% in 3Q15. One customer accounted for more than 10% of our total
net revenues in 4Q15.
- Our top 10 customers contributed 92% of our total net revenues
during the quarter, compared to 88% in 4Q14 and 92% in 3Q15.
OUTLOOK
Based on our current business outlook and exchange rate
assumptions, management projects overall performance for the first
quarter of 2016 to be as follows:
- IC ATM capacity should stay flat and blended utilization rate
should be down high single digits sequentially;
- IC ATM gross margin should be approaching 1Q14 levels;
- EMS business should decline moderately on a year-over-year
basis;
- EMS gross margin should decline slightly
quarter-over-quarter.
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
|
4Q/15
|
3Q/15
|
4Q/14
|
|
Net
Revenues
|
38,406
|
39,862
|
43,884
|
|
Revenues by
Application
|
|
|
|
|
Communication
|
55%
|
55%
|
58%
|
|
Computer
|
12%
|
11%
|
11%
|
|
Automotive, Consumer
& Others
|
33%
|
34%
|
31%
|
|
Revenues by
Region
|
|
|
|
|
North
America
|
61%
|
63%
|
65%
|
|
Europe
|
10%
|
10%
|
9%
|
|
Taiwan
|
17%
|
17%
|
16%
|
|
Japan
|
5%
|
5%
|
5%
|
|
Other Asia
|
7%
|
5%
|
5%
|
|
Packaging
Operations
|
|
Amounts in NT$
Millions
|
4Q/15
|
3Q/15
|
4Q/14
|
|
Net
Revenues
|
31,121
|
32,489
|
36,359
|
|
Revenues by
Packaging Type
|
|
|
|
|
Advanced
Packaging
|
33%
|
34%
|
38%
|
|
IC
Wirebonding
|
58%
|
56%
|
53%
|
|
Discrete and
Others
|
9%
|
10%
|
9%
|
|
Capacity
|
|
|
|
|
CapEx (US$
Millions)*
|
64
|
83
|
65
|
|
Number of
Wirebonders
|
15,568
|
15,617
|
15,792
|
|
Testing
Operations
|
|
Amounts in NT$
Millions
|
4Q/15
|
3Q/15
|
4Q/14
|
|
Net
Revenues
|
6,356
|
6,426
|
6,663
|
|
Revenues by
Testing Type
|
|
|
|
|
Final test
|
77%
|
76%
|
75%
|
|
Wafer sort
|
19%
|
20%
|
21%
|
|
Engineering
test
|
4%
|
4%
|
4%
|
|
Capacity
|
|
|
|
|
CapEx (US$
Millions)*
|
18
|
25
|
26
|
|
Number of
Testers
|
3,435
|
3,417
|
3,267
|
|
EMS
Operations
|
|
Amounts in NT$
Millions
|
4Q/15
|
3Q/15
|
4Q/14
|
|
Net
Revenues
|
39,347
|
36,161
|
37,220
|
|
Revenues by End
Application
|
|
|
|
|
Communication
|
64%
|
56%
|
67%
|
|
Computer
|
15%
|
13%
|
13%
|
|
Consumer
|
11%
|
19%
|
7%
|
|
Industrial
|
5%
|
7%
|
8%
|
|
Automotive
|
4%
|
4%
|
5%
|
|
Others
|
1%
|
1%
|
0%
|
|
Capacity
|
|
|
|
|
CapEx (US$
Millions)*
|
5
|
24
|
55
|
|
*Capital expenditure excludes
building construction costs.
|
|
Advanced
Semiconductor Engineering, Inc.
Summary of
Consolidated Statement of Comprehensive Income
Data[5]
(In NT$ millions,
except per share data)
(Unaudited)
|
|
|
For the three months
ended
|
|
For the year
ended
|
|
Dec. 31
2015
|
|
Sep. 30
2015
|
|
Dec. 31
2014
|
|
Dec. 31
2015
|
|
Dec. 31
2014
|
|
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Packaging
|
29,093
|
|
29,575
|
|
31,942
|
|
116,607
|
|
121,336
|
|
|
Testing
|
6,356
|
|
6,426
|
|
6,663
|
|
25,192
|
|
25,875
|
|
|
Direct
Material
|
798
|
|
762
|
|
861
|
|
3,260
|
|
3,546
|
|
|
EMS
|
39,301
|
|
36,107
|
|
37,178
|
|
138,242
|
|
105,785
|
|
|
Others
|
-
|
|
-
|
|
-
|
|
1
|
|
49
|
|
|
Total net
revenues
|
75,548
|
|
72,870
|
|
76,644
|
|
283,302
|
|
256,591
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(62,265)
|
|
(59,883)
|
|
(60,233)
|
|
(233,153)
|
|
(203,002)
|
|
|
Gross
profit
|
13,283
|
|
12,987
|
|
16,411
|
|
50,149
|
|
53,589
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(2,804)
|
|
(2,844)
|
|
(2,769)
|
|
(10,928)
|
|
(10,290)
|
|
|
Selling, general and administrative
|
(3,650)
|
|
(3,761)
|
|
(3,795)
|
|
(14,309)
|
|
(13,653)
|
|
|
Total operating
expenses
|
(6,454)
|
|
(6,605)
|
|
(6,564)
|
|
(25,237)
|
|
(23,943)
|
|
|
Operating
income
|
6,829
|
|
6,382
|
|
9,847
|
|
24,912
|
|
29,646
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net non-operating
(expenses) income:
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense -
net
|
(538)
|
|
(492)
|
|
(546)
|
|
(2,027)
|
|
(2,081)
|
|
|
Foreign exchange gain
(loss)
|
428
|
|
(2,520)
|
|
(1,051)
|
|
(713)
|
|
(1,222)
|
|
|
Gain (loss) on
equity-method investments2
|
113
|
|
29
|
|
(28)
|
|
92
|
|
(109)
|
|
|
Gain (loss) on
valuation of financial assets and liabilities
|
(722)
|
|
4,502
|
|
1,190
|
|
2,462
|
|
1,840
|
|
|
Others
|
179
|
|
(91)
|
|
167
|
|
279
|
|
474
|
|
|
Total non-operating
income (expenses)
|
(540)
|
|
1,428
|
|
(268)
|
|
93
|
|
(1,098)
|
|
|
Income before
tax
|
6,289
|
|
7,810
|
|
9,579
|
|
25,005
|
|
28,548
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(1,264)
|
|
(1,127)
|
|
(1,475)
|
|
(4,843)
|
|
(4,266)
|
|
|
Income from
continuing operations and
before noncontrolling
interest
|
5,025
|
|
6,683
|
|
8,104
|
|
20,162
|
|
24,282
|
|
|
Noncontrolling
interest
|
(322)
|
|
(315)
|
|
(240)
|
|
(970)
|
|
(645)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to
shareholders of the
parent
|
4,703
|
|
6,368
|
|
7,864
|
|
19,192
|
|
23,637
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per share
data:
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per
share
|
|
|
|
|
|
|
|
|
|
|
|
– Basic
|
NT$0.62
|
|
NT$0.83
|
|
NT$1.02
|
|
NT$2.51
|
|
NT$3.07
|
|
|
– Diluted
|
NT$0.60
|
|
NT$0.69
|
|
NT$0.99
|
|
NT$2.41
|
|
NT$2.96
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per
equivalent ADS
|
|
|
|
|
|
|
|
|
|
|
|
– Basic
|
US$0.095
|
|
US$0.132
|
|
US$0.167
|
|
US$0.396
|
|
US$0.509
|
|
|
– Diluted
|
US$0.092
|
|
US$0.109
|
|
US$0.162
|
|
US$0.381
|
|
US$0.489
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of weighted
average shares used in
diluted EPS calculation
(in thousands)
|
7,839,692
|
|
8,230,923
|
|
8,192,428
|
|
8,249,693
|
|
8,220,694
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange rate (NT$
per US$1)
|
32.55
|
|
31.69
|
|
30.61
|
|
31.65
|
|
30.20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advanced
Semiconductor Engineering, Inc.
Summary of Consolidated
Statement of Comprehensive Income Data – IC ATM[5]
(In
NT$ millions, except per share data)
(Unaudited)
|
|
|
For the three months
ended
|
|
For the year
ended
|
|
Dec. 31
2015
|
|
Sep. 30
2015
|
|
Dec. 31
2014
|
|
Dec. 31
2015
|
|
Dec. 31
2014
|
|
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Packaging
|
31,121
|
|
32,489
|
|
36,359
|
|
125,714
|
|
130,287
|
|
|
Testing
|
6,356
|
|
6,426
|
|
6,663
|
|
25,192
|
|
25,875
|
|
|
Direct
Material
|
910
|
|
928
|
|
862
|
|
3,564
|
|
3,550
|
|
|
Others
|
19
|
|
19
|
|
-
|
|
74
|
|
-
|
|
|
Total net
revenues
|
38,406
|
|
39,862
|
|
43,884
|
|
154,544
|
|
159,712
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(28,414)
|
|
(29,211)
|
|
(30,112)
|
|
(114,402)
|
|
(115,006)
|
|
|
Gross
profit
|
9,992
|
|
10,651
|
|
13,772
|
|
40,142
|
|
44,706
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(2,072)
|
|
(2,125)
|
|
(2,137)
|
|
(8,075)
|
|
(8,150)
|
|
|
Selling, general and
administrative
|
(2,579)
|
|
(2,882)
|
|
(2,704)
|
|
(10,435)
|
|
(10,056)
|
|
|
Total operating
expenses
|
(4,651)
|
|
(5,007)
|
|
(4,841)
|
|
(18,510)
|
|
(18,206)
|
|
|
Operating
income
|
5,341
|
|
5,644
|
|
8,931
|
|
21,632
|
|
26,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net non-operating
(expenses) income:
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense -
net
|
(584)
|
|
(540)
|
|
(547)
|
|
(2,143)
|
|
(2,141)
|
|
|
Foreign exchange gain
(loss)
|
364
|
|
(1,837)
|
|
(1,005)
|
|
(311)
|
|
(1,199)
|
|
|
Gain (loss) on
equity-method investments2
|
1,022
|
|
(63)
|
|
633
|
|
2,414
|
|
2,174
|
|
|
Gain (loss) on
valuation of financial assets and liabilities
|
(622)
|
|
4,433
|
|
1,094
|
|
2,166
|
|
1,568
|
|
|
Others
|
336
|
|
(204)
|
|
167
|
|
(9)
|
|
599
|
|
|
Total non-operating
income (expenses)
|
516
|
|
1,789
|
|
342
|
|
2,117
|
|
1,001
|
|
|
Income before
tax
|
5,857
|
|
7,433
|
|
9,273
|
|
23,749
|
|
27,501
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(1,103)
|
|
(1,016)
|
|
(1,344)
|
|
(4,365)
|
|
(3,675)
|
|
|
Income from
continuing operations and
before noncontrolling
interest
|
4,754
|
|
6,417
|
|
7,929
|
|
19,384
|
|
23,826
|
|
|
Noncontrolling
interest
|
(51)
|
|
(49)
|
|
(65)
|
|
(192)
|
|
(189)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to
shareholders of the
parent
|
4,703
|
|
6,368
|
|
7,864
|
|
19,192
|
|
23,637
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per share
data:
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per
share
|
|
|
|
|
|
|
|
|
|
|
|
– Basic
|
NT$0.62
|
|
NT$0.83
|
|
NT$1.02
|
|
NT$2.51
|
|
NT$3.07
|
|
|
– Diluted
|
NT$0.60
|
|
NT$0.69
|
|
NT$0.99
|
|
NT$2.41
|
|
NT$2.96
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of weighted
average shares used in
diluted EPS calculation
(in thousands)
|
7,839,692
|
|
8,230,923
|
|
8,192,428
|
|
8,249,693
|
|
8,220,694
|
|
|
Advanced
Semiconductor Engineering, Inc.
Summary of Consolidated
Statement of Comprehensive Income Data – EMS[5]
(In NT$
millions, except per share data)
(Unaudited)
|
|
|
For the three months
ended
|
|
For the year
ended
|
|
Dec. 31
2015
|
|
Sep. 30
2015
|
|
Dec. 31
2014
|
|
Dec. 31
2015
|
|
Dec. 31
2014
|
|
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Total net
revenues
|
39,347
|
|
36,161
|
|
37,220
|
|
138,428
|
|
105,871
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(36,473)
|
|
(33,176)
|
|
(34,293)
|
|
(128,098)
|
|
(96,556)
|
|
|
Gross
profit
|
2,874
|
|
2,985
|
|
2,927
|
|
10,330
|
|
9,315
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(760)
|
|
(746)
|
|
(660)
|
|
(2,950)
|
|
(2,235)
|
|
|
Selling, general and
administrative
|
(1,038)
|
|
(860)
|
|
(1,040)
|
|
(3,774)
|
|
(3,414)
|
|
|
Total operating
expenses
|
(1,798)
|
|
(1,606)
|
|
(1,700)
|
|
(6,724)
|
|
(5,649)
|
|
|
Operating
income
|
1,076
|
|
1,379
|
|
1,227
|
|
3,606
|
|
3,666
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net non-operating
(expenses) income:
|
|
|
|
|
|
|
|
|
|
|
|
Total non-operating
income
|
(64)
|
|
(558)
|
|
114
|
|
17
|
|
417
|
|
|
Income before
tax
|
1,012
|
|
821
|
|
1,341
|
|
3,623
|
|
4,083
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(170)
|
|
(120)
|
|
(140)
|
|
(510)
|
|
(622)
|
|
|
Income from
continuing operations and
before noncontrolling
interest
|
842
|
|
701
|
|
1,201
|
|
3,113
|
|
3,461
|
|
|
Noncontrolling
interest
|
(269)
|
|
(272)
|
|
(175)
|
|
(781)
|
|
(463)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to
shareholders of the
parent
|
573
|
|
429
|
|
1,026
|
|
2,332
|
|
2,998
|
|
|
Advanced
Semiconductor Engineering, Inc.
Summary of
Consolidated Balance Sheet Data
(In NT$
millions)
(Unaudited)
|
|
|
As of Dec. 31,
2015
|
|
As of Sep. 30,
2015
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
55,251
|
|
|
|
42,410
|
|
Financial assets –
current
|
|
|
3,864
|
|
|
|
3,158
|
|
Notes and accounts
receivable
|
|
|
44,931
|
|
|
|
53,156
|
|
Inventories
|
|
|
48,972
|
|
|
|
52,706
|
|
Others
|
|
|
3,715
|
|
|
|
5,741
|
|
Total current
assets
|
|
|
156,733
|
|
|
|
157,171
|
|
|
|
|
|
|
|
|
|
Financial assets –
non current & Investments – equity
method2
|
|
|
38,079
|
|
|
|
37,887
|
|
Property plant and
equipment
|
|
|
149,997
|
|
|
|
152,981
|
|
Intangible
assets
|
|
|
11,889
|
|
|
|
11,959
|
|
Prepaid lease
payments
|
|
|
2,556
|
|
|
|
2,610
|
|
Others
|
|
|
5,765
|
|
|
|
5,844
|
|
Total
assets
|
|
|
365,019
|
|
|
|
368,452
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
Short-term
borrowings
|
|
|
36,983
|
|
|
|
45,747
|
|
Current portion of
bonds payable
|
|
|
14,686
|
|
|
|
2,578
|
|
Current portion of
long-term borrowings & capital lease obligations
|
|
|
2,157
|
|
|
|
2,028
|
|
Notes and accounts
payable
|
|
|
34,139
|
|
|
|
39,700
|
|
Others
|
|
|
32,513
|
|
|
|
29,861
|
|
Total current
liabilities
|
|
|
120,478
|
|
|
|
119,914
|
|
|
|
|
|
|
|
|
|
Bonds
payable
|
|
|
23,740
|
|
|
|
35,804
|
|
Long-term borrowings
& capital lease obligations
|
|
|
42,795
|
|
|
|
38,389
|
|
Other
liabilities
|
|
|
9,831
|
|
|
|
10,062
|
|
Total
liabilities
|
|
|
196,844
|
|
|
|
204,169
|
|
Shareholders of the
parent
|
|
|
156,671
|
|
|
|
153,529
|
|
|
|
|
|
|
|
|
|
Noncontrolling
interest
|
|
|
11,504
|
|
|
|
10,754
|
|
Total liabilities
& shareholders' equity
|
|
|
365,019
|
|
|
|
368,452
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
Ratio
|
|
|
1.30
|
|
|
|
1.31
|
|
Net Debt to
Equity
|
|
|
0.36
|
|
|
|
0.48
|
|
|
|
|
|
|
|
|
|
Notes:
[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] The financial
statements of SPIL are unavailable before they are publicly
released. The share of profit from our investment in SPIL is an
estimate.
[3] ATM stands for
Semiconductor Assembly, Testing and Material.
[4] IC packaging
services include module assembly services.
[5] 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 and for the
year ended December 31, 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
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-2015-300212028.html
SOURCE Advanced Semiconductor Engineering, Inc.