|
Amounts in US$ thousands |
4Q13 |
3Q13 |
QoQ |
4Q12 |
YoY |
|
Operating expenses |
84,840 |
63,447 |
33.7% |
45,079 |
88.2% |
|
Research and development |
46,256 |
37,564 |
23.1% |
26,676 |
73.4% |
|
General and administrative |
36,610 |
24,718 |
48.1% |
29,437 |
24.4% |
|
Selling and marketing |
8,385 |
9,324 |
-10.1% |
8,629 |
-2.8% |
|
Other operating income |
(6,411) |
(8,159) |
-21.4% |
(19,663) |
-67.4% |
- R&D expenses increased to $46.3 million in 4Q13, compared to $37.6 million in 3Q13. The increase was primarily due to an increase in R&D expenses associated with higher R&D activities from quarter to quarter and a decrease in funding of R&D contracts from the government in 4Q13 of $4.3 million compared to 3Q13.
- General and administrative expenses increased to $36.6 million in 4Q13, up 48.1 % QoQ from $24.7 million in 3Q13, mainly due to 1) increased bad debt expense recognized in 4Q13 and 2) a bonus accrual relating to an increase in employee productivity in 4Q13.
- Other operating income was $6.4 million in 4Q13, compared to $8.2 million in 3Q13. The change was mainly due to 1) a decrease of gain arising from the disposal of part of the Company-owned living quarters in Shanghai, and 2) gain arising from the deconsolidation of Brite Semiconductor Corporation and its subsidiaries due to loss of control.
Other Income (expense), Net
|
Amounts in US$ thousands |
4Q13 |
3Q13 |
QoQ |
4Q12 |
YoY |
|
Other income (expense), net |
7,756 |
(4,681) |
- |
(2,591) |
- |
|
Interest income |
2,206 |
1,394 |
58.2% |
1,276 |
72.9% |
|
Finance costs |
(5,789) |
(8,673) |
-33.3% |
(10,449) |
-44.6% |
|
Foreign exchange gains or losses |
6,228 |
2,404 |
159.1% |
4,434 |
40.5% |
|
Other gains or losses |
4,607 |
(357) |
- |
2,044 |
125.4% |
|
Share of profits of associates |
504 |
551 |
-8.5% |
104 |
384.6% |
- The change of other gains or losses was mainly due to 1) lower revenue from our schools as a result of summer vacation in 3Q13 and 2) a reversal of impairment loss from an available-for-sale investment which was recognized in 3Q13 due to subsequent recovery of the cost.
Depreciation and Amortization
|
Amounts in US$ thousands |
4 Q1 3 |
3 Q1 3 |
QoQ |
4 Q1 2 |
YoY |
|
Depreciation and amortization |
138,721 |
136,725 |
1.5% |
140,021 |
-0.9% |
