Some of the statements in the foregoing announcement are forward looking within the meaning of the U.S. Federal Securities laws, including statements about future outsourcing, wafer capacity, technologies, business relationships and market conditions. Investors are cautioned that actual events and results could differ materially from these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy; acceptance and demand for products from UMC; and technological and development risks. Further information concerning these risks is included in UMC's filings with the U.S. SEC, including on Form F-1, F-3, F-6 and 20-F, each as amended.
Safe Harbor Statements
This release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by use of words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to: (i) our dependence upon the frequent introduction of new services and technologies based on the latest developments in our industry; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international global business activities; (iv) our dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates. Further information regarding these and other risks is included in UMC's filings with the U.S. Securities and Exchange Commission, including its registration statements on Form F-1, F-3, F-6 and 20-F, in each case as amended. UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
The financial statements included in this release are unaudited and unconsolidated, and prepared and published in accordance with ROC GAAP. Investors are cautioned that there are many differences between ROC GAAP and US GAAP.
This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.
- FINANCIAL TABLES TO FOLLOW -
|
UNITED MICROELECTRONICS CORPORATION | |||||
|
Condensed Unconsolidated Balance Sheet | |||||
|
As of December 31, 2012 | |||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2012 | ||||
|
|
US$ |
|
NT$ |
|
% |
|
ASSETS |
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
Cash and Cash Equivalents |
1,094 |
|
31,757 |
|
12.0% |
|
Financial Assets at Fair Value through Profit or Loss, current |
23 |
|
656 |
|
0.2% |
|
Available-for-Sale Financial Assets, current |
149 |
|
4,331 |
|
1.6% |
|
Notes & Accounts Receivable, net |
486 |
|
14,110 |
|
5.3% |
|
Inventories, net |
408 |
|
11,851 |
|
4.5% |
|
Other Current Assets |
87 |
|
2,515 |
|
1.1% |
|
Total Current Assets |
2,247 |
|
65,220 |
|
24.7% |
|
|
|
|
|
|
|
|
Non-Current Assets |
|
|
|
|
|
|
Funds and Investments |
1,655 |
|
48,033 |
|
18.2% |
|
Property, Plant and Equipment, net |
4,999 |
|
145,135 |
|
54.9% |
|
Other Assets |
205 |
|
5,946 |
|
2.2% |
|
Total Non-Current Assets |
6,859 |
|
199,114 |
|
75.3% |
|
TOTAL ASSETS |
9,106 |
|
264,334 |
|
100.0% |
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
Short-term Loans |
80 |
|
2,326 |
|
0.9% |
|
Financial Liabilities at Fair Value through Profit or Loss, current |
26 |
|
768 |
|
0.3% |
|
Payables |
688 |
|
19,956 |
|
7.5% |
|
Current Portion of Long-term Liabilities |
201 |
|
5,819 |
|
2.2% |
|
Other Current Liabilities |
14 |
|
406 |
|
0.2% |
|
Total Current Liabilities |
1,009 |
|
29,275 |
|
11.1% |
|
|
|
|
|
|
|
|
Non-Current Liabilities |
|
|
|
|
|
|
Bonds Payable |
755 |
|
21,932 |
|
8.3% |
|
Long-term Loans |
240 |
|
6,962 |
|
2.6% |
|
Other Liabilities |
125 |
|
3,621 |
|
1.4% |
|
Total Non-Current Liabilities |
1,120 |
|
32,515 |
|
12.3% |
|
TOTAL LIABILITIES |
2,129 |
|
61,790 |
|
23.4% |
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
Capital Stock |
4,462 |
|
129,521 |
|
49.0% |
|
Additional Paid-in Capital |
1,619 |
|
46,995 |
|
17.8% |
|
Retained Earnings, Unrealized Gain or Loss on Financial
|
1,067 |
|
30,991 |
|
11.7% |
|
Treasury Stock |
(171) |
|
(4,963) |
|
(1.9%) |
|
TOTAL STOCKHOLDERS' EQUITY |
6,977 |
|
202,544 |
|
76.6% |
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
9,106 |
|
264,334 |
|
100.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note ： New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2012 exchange rate of NT $ 29.03 per U.S. Dollar. All figures are in ROC GAAP. | |||||
|
| |||||
|
UNITED MICROELECTRONICS CORPORATION | |||||||||||||||||||
|
Condensed Unconsolidated Income Statement | |||||||||||||||||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||||||||||
|
Except Per Share and Per ADS Data | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year over Year Comparison |
|
Quarter over Quarter Comparison | ||||||||||||||||
|
|
Three-Month Period Ended |
|
|
|
Three-Month Period Ended |
|
| ||||||||||||
|
|
December 31, 2012 |
|
December 31, 2011 |
|
% |
|
December 31, 2012 |
|
September 30, 2012 |
|
% | ||||||||
|
|
US$ |
|
NT$ |
|
US$ |
|
NT$ |
|
Chg. |
|
US$ |
|
NT$ |
|
US$ |
|
NT$ |
|
Chg. |
|
Net Sales |
899 |
|
26,088 |
|
842 |
|
24,425 |
|
6.8% |
|
899 |
|
26,088 |
|
983 |
|
28,525 |
|
(8.5%) |
|
Cost of Goods Sold |
(748) |
|
(21,716) |
|
(685) |
|
(19,875) |
|
9.3% |
|
(748) |
|
(21,716) |
|
(747) |
|
(21,675) |
|
0.2% |
|
Net Gross Profit |
151 |
|
4,372 |
|
157 |
|
4,550 |
|
(3.9%) |
|
151 |
|
4,372 |
|
236 |
|
6,850 |
|
(36.2%) |
|
|
16.8% |
|
16.8% |
|
18.6% |
|
18.6% |
|
|
|
16.8% |
|
16.8% |
|
24.0% |
|
24.0% |
|
|
|
Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Sales & Marketing |
(11) |
|
(323) |
|
(28) |
|
(822) |
|
(60.7%) |
|
(11) |
|
(323) |
|
(17) |
|
(504) |
|
(35.9%) |
|
- General & Administrative |
(21) |
|
(598) |
|
(21) |
|
(601) |
|
(0.5%) |
|
(21) |
|
(598) |
|
(18) |
|
(515) |
|
16.1% |
|
- Research & Development |
(86) |
|
(2,488) |
|
(79) |
|
(2,287) |
|
8.8% |
|
(86) |
|
(2,488) |
|
(77) |
|
(2,219) |
|
12.1% |
|
|
(118) |
|
(3,409) |
|
(128) |
|
(3,710) |
|
(8.1%) |
|
(118) |
|
(3,409) |
|
(112) |
|
(3,238) |
|
5.3% |
|
Operating Income |
33 |
|
963 |
|
29 |
|
840 |
|
14.6% |
|
33 |
|
963 |
|
124 |
|
3,612 |
|
(73.3%) |
|
|
3.7% |
|
3.7% |
|
3.4% |
|
3.4% |
|
|
|
3.7% |
|
3.7% |
|
12.7% |
|
12.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Non-Operating Income (Expenses) |
14 |
|
391 |
|
5 |
|
149 |
|
100.0% |
|
14 |
|
391 |
|
3 |
|
83 |
|
100.0% |
|
Income from Continuing Operations before
|
47 |
|
1,354 |
|
34 |
|
989 |
|
36.9% |
|
47 |
|
1,354 |
|
127 |
|
3,695 |
|
(63.4%) |
|
|
5.2% |
|
5.2% |
|
4.1% |
|
4.1% |
|
|
|
5.2% |
|
5.2% |
|
13.0% |
|
13.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Expense |
(7) |
|
(181) |
|
(0) |
|
(9) |
|
100.0% |
|
(7) |
|
(181) |
|
(44) |
|
(1,278) |
|
(85.8%) |
|
Net Income |
40 |
|
1,173 |
|
34 |
|
980 |
|
19.7% |
|
40 |
|
1,173 |
|
83 |
|
2,417 |
|
(51.5%) |
|
|
4.5% |
|
4.5% |
|
4.0% |
|
4.0% |
|
|
|
4.5% |
|
4.5% |
|
8.5% |
|
8.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per Share |
0.003 |
|
0.09 |
|
0.003 |
|
0.08 |
|
|
|
0.003 |
|
0.09 |
|
0.007 |
|
0.19 |
|
|
|
Earnings per ADS (2) |
0.016 |
|
0.45 |
|
0.014 |
|
0.40 |
|
|
|
0.016 |
|
0.45 |
|
0.033 |
|
0.95 |
|
|
|
Weighted Average Number of Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding (in millions) |
|
|
12,636 |
|
|
|
12,609 |
|
|
|
|
|
12,636 |
|
|
|
12,629 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2012 exchange rate of NT $ 29.03 per U.S. Dollar. All figures are in ROC GAAP. (2) 1 ADS equals 5 common shares. | |||||||||||||||||||
|
| |||||||||||||||||||
|
UNITED MICROELECTRONICS CORPORATION | |||||||||||
|
Condensed Unconsolidated Income Statement | |||||||||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||
|
Except Per Share and Per ADS Data | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three-Month Period Ended |
|
For the Twelve-Month Period Ended | ||||||||
|
|
December 31, 2012 |
|
December 31, 2012 | ||||||||
|
|
US$ |
|
NT$ |
|
% |
|
US$ |
|
NT$ |
|
% |
|
Net Sales |
899 |
|
26,088 |
|
100.0% |
|
3,652 |
|
105,998 |
|
100.0% |
|
Cost of Goods Sold |
(748) |
|
(21,716) |
|
(83.2%) |
|
(2,876) |
|
(83,486) |
|
(78.8%) |
|
Net Gross Profit |
151 |
|
4,372 |
|
16.8% |
|
776 |
|
22,512 |
|
21.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
- Sales & Marketing |
(11) |
|
(323) |
|
(1.3%) |
|
(63) |
|
(1,829) |
|
(1.7%) |
|
- General & Administrative |
(21) |
|
(598) |
|
(2.3%) |
|
(79) |
|
(2,291) |
|
(2.1%) |
|
- Research & Development |
(86) |
|
(2,488) |
|
(9.5%) |
|
(321) |
|
(9,311) |
|
(8.8%) |
|
|
(118) |
|
(3,409) |
|
(13.1%) |
|
(463) |
|
(13,431) |
|
(12.6%) |
|
Operating Income |
33 |
|
963 |
|
3.7% |
|
313 |
|
9,081 |
|
8.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Non-Operating Income (Expenses) |
14 |
|
391 |
|
1.5% |
|
31 |
|
904 |
|
0.8% |
|
Income from Continuing Operations before
|
47 |
|
1,354 |
|
5.2% |
|
344 |
|
9,985 |
|
9.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Expense |
(7) |
|
(181) |
|
(0.7%) |
|
(71) |
|
(2,070) |
|
(1.9%) |
|
Net Income |
40 |
|
1,173 |
|
4.5% |
|
273 |
|
7,915 |
|
7.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per Share |
0.003 |
|
0.09 |
|
|
|
0.022 |
|
0.63 |
|
|
|
Earnings per ADS (2) |
0.016 |
|
0.45 |
|
|
|
0.109 |
|
3.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Number of Shares
|
|
|
12,636 |
|
|
|
|
|
12,625 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes: |
|
|
|
|
|
|
|
|
|
|
|
|
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2012 exchange rate of NT $ 29.03 per U.S. Dollar. All figures are in ROC GAAP. (2) 1 ADS equals 5 common shares. | |||||||||||
|
| |||||||||||
|
UNITED MICROELECTRONICS CORPORATION | ||||
|
Condensed Unconsolidated Statement of Cash Flows | ||||
|
For The Twelve-Month Period Ended December 31, 2012 | ||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||
|
|
|
|
|
|
|
|
USD |
|
NTD |
|
|
Cash flows from operating activities : |
|
|
|
|
|
Net Income |
273 |
|
7,915 |
|
|
Depreciation & Amortization |
1,149 |
|
33,346 |
|
|
Gain on recovery in bad debt |
(8) |
|
(227) |
|
|
Loss on decline in market value and obsolescence of inventories |
34 |
|
999 |
|
|
Cash dividends received under the equity method |
2 |
|
57 |
|
|
Investment lossaccounted for under the equity method |
123 |
|
3,581 |
|
|
Loss on valuation of financial assets and liabilities |
21 |
|
622 |
|
|
Impairment loss |
3 |
|
90 |
|
|
Gain on disposal of investments |
(120) |
|
(3,482) |
|
|
Gain on disposal of property, plant and equipment |
(1) |
|
(20) |
|
|
Exchange gain on financial assets and liabilities |
(4) |
|
(116) |
|
|
Exchange gain on long-term liabilities |
(4) |
|
(123) |
|
|
Amortization of bond discounts |
12 |
|
338 |
|
|
Gain on reacquisition of bonds |
(4) |
|
(105) |
|
|
Amortization of deferred income |
(3) |
|
(93) |
|
|
Stock-based payment |
7 |
|
196 |
|
|
Exchange gain on capital reduction of long-term investments accounted
|
(8) |
|
(233) |
|
|
Changes in assets, liabilities and others |
(41) |
|
(1,210) |
|
|
Net cash provided by operating activities |
1,431 |
|
41,535 |
|
|
|
|
|
|
|
|
Cash flows from investing activities : |
|
|
|
|
|
Proceeds from disposal of available-for-sales financial assets |
93 |
|
2,711 |
|
|
Proceeds from disposal of financial assets measured at cost |
0 |
|
0 |
|
|
Acquisition of long-term investments accounted for under the equity
|
(1) |
|
(16) |
|
|
Proceeds from capital reduction and liquidation of investments |
106 |
|
3,063 |
|
|
Acquisition of property, plant and equipment |
(1,750) |
|
(50,818) |
|
|
Acquisition of intangible assets |
(26) |
|
(749) |
|
|
Proceeds from disposal of property, plant and equipment |
1,000 |
|
31 |
|
|
Increase in deferred charges |
(22) |
|
(628) |
|
|
Increase in other assets - others |
(3) |
|
(105) |
|
|
Net cash used in investing activities |
(1,602) |
|
(46,511) |
|
|
|
|
|
|
|
|
Cash flows from financing activities : |
|
|
|
|
|
Decrease in short-term loans |
(73) |
|
(2,124) |
|
|
Proceeds from long-term loans |
224 |
|
6,500 |
|
|
Repayments of long-term loans |
(58) |
|
(1,691) |
|
|
Reacquisition of bonds |
(5) |
|
(139) |
|
|
Proceeds from bonds issued |
344 |
|
10,000 |
|
|
Bonds issue cost |
(0) |
|
(13) |
|
|
Cash Dividends |
(218) |
|
(6,316) |
|
|
Exercise of employee stock options |
9 |
|
266 |
|
|
Proceeds from disposal of treasury stock |
0 |
|
4 |
|
|
Increase in deposits-in |
2 |
|
56 |
|
|
Net cash providedby financing activities |
225 |
|
6,543 |
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
(22) |
|
(639) |
|
|
Net increase in cash and cash equivalents |
32 |
|
928 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
1,062 |
|
30,829 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
1,094 |
|
31,757 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2012 exchange rate of NT $ 29.03 per U.S. Dollar. All figures are in ROC GAAP. | ||||
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