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[1] All financial information presented in this press release is unaudited, consolidated and prepared in accordance with Taiwan-IFRS (International Financial Reporting Standards as endorsed for use in the R.O.C.). Such financial information is generated internally by us, and has not been subjected to the same review and scrutiny, including internal auditing procedures and audit by our independent auditors, to which we subject our audited consolidated financial statements, and may vary materially from the audited consolidated financial information for the same period. Any evaluation of the financial information presented in this press release should also take into account our published audited consolidated financial statements and the notes to those statements. In addition, the financial information presented is not necessarily indicative of our results of operations for any future period. |
RESULTS OF OPERATIONS
1Q16 Results Highlights – Consolidated
- Net revenue contribution from packaging operations, testing operations, EMS operations, substrates sold to third parties and others, each represented approximately 45%, 10%, 40%, 1% and 4%, respectively, of total net revenues for the quarter.
- Cost of revenue was NT$50,922 million for the quarter, down from NT$62,279 million in 4Q15.
- Raw material cost totaled NT$27,357 million during the quarter, representing 44% of total net revenues.
- Labor cost totaled NT$8,284 million during the quarter, representing 13% of total net revenues.
- Depreciation, amortization and rental expenses totaled NT$7,010 million during the quarter.
- Gross margin increased 0.8 percentage points to 18.4% in 1Q16 from 17.6% in 4Q15.
- Operating margin was 8.3% in 1Q16 compared to 9.0% in 4Q15.
- In terms of non-operating items:
- Net interest expense was NT$527 million.
- Net foreign exchange gain of NT$881 million was primarily attributable to the depreciation of the U.S. dollar against the NT dollar.
- Loss on valuation of financial assets and liabilities was NT$360 million.
- Net gain on equity-method investments was NT$385 million, including NT$401 million of the share of profit from our investment in Siliconware Precision Industries Co., Ltd.
- Other net non-operating income of NT$71 million was primarily related to miscellaneous income. Total non-operating income for the quarter were NT$450 million.
- Income before tax was NT$5,656 million for 1Q16, compared to NT$6,572 million in 4Q15. We recorded income tax expenses of NT$1,318 million during the quarter, compared to NT$1,260 million in 4Q15.
- In 1Q16, net income attributable to shareholders of the parent was NT$4,163 million, compared to net income attributable to shareholders of the parent of NT$4,469 million for 1Q15 and net income attributable to shareholders of the parent of NT$4,990 million for 4Q15.
- Our total number of shares outstanding at the end of the quarter was 7,918,272,896, including treasury stock owned by our subsidiaries. Our 1Q16 basic earnings per share of NT$0.54 (or US$0.082 per ADS) were based on 7,649,385,595 weighted average number of shares outstanding in 1Q16. Our 1Q16 diluted earnings per share of NT$0.43 (or US$0.065 per ADS) were based on 8,293,276,666 weighted average number of shares outstanding in 1Q16.
1Q16 Results Highlights – IC ATM[2]
- Cost of revenues was NT$27,711 million for the quarter, down by 3% sequentially.
- Raw material cost totaled NT$8,086 million during the quarter, representing 23% of total net revenues.
- Labor cost totaled NT$7,194 million during the quarter, representing 20% of total net revenues.
- Depreciation, amortization and rental expenses totaled NT$6,379 million during the quarter.
- Gross margin decreased 4.0 percentage points to 22.0% in 1Q16 from 26.0% in 4Q15.
- Operating margin was 9.1% in 1Q16 compared to 13.8% in 4Q15.
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[2] ATM stands for Semiconductor Assembly, Testing and Material. |
1Q16 Results Highlights – EMS
- Cost of revenues for the quarter was NT$22,781 million, down by 38% sequentially.
- Raw material cost totaled NT$19,310 million during the quarter, representing 78% of total net revenues.
- Labor cost totaled NT$1,089 million during the quarter, representing 4% of total net revenues.
- Depreciation, amortization and rental expenses totaled NT$667 million during the quarter.
- Gross margin increased to 8.1% in 1Q16 from 7.3% in 4Q15.
- Operating margin decreased to 1.5% in 1Q16 from 2.7% in 4Q15.
LIQUIDITY AND CAPITAL RESOURCES
