Cash and cash equivalents increased NT$2 billion to NT$37.9 billion. The increase in notes & accounts receivable reflected the upward trend of the business. The increase in inventory mainly came from the increase of work-in-process wafers and the increase in fair value of inventory. Average inventory turnover decreased to 42 days during 2Q09.
Liabilities
(Amount: NT$ billion) 2Q09 1Q09 2Q08
Total Current Liabilities 19.96 10.95 25.22
Accounts Payable 4.44 2.58 4.62
Short-term Credit / Bonds 0.00 0.00 0.46
Others 15.52 8.37 20.14
Long-term Liabilities 0.79 8.20 7.54
Total Liabilities 24.24 22.67 36.48
Debt to Equity 13% 12% 18%
Current liabilities increased to NT$19.96 billion, mainly due to the acquisition of more raw materials and the reclassification of bonds payable, which will be due within one year from long-term liabilities to other current liabilities. Total liabilities increased to NT$24.2 billion in 2Q09. UMC's Debt to Equity ratio slightly increased to 13%.
Analysis of Revenue (Note 3)
Revenue Breakdown by Region
Region 2Q09 1Q09 4Q08 3Q08 2Q08
North America 47% 53% 57% 60% 50%
Asia Pacific 42% 37% 31% 32% 35%
Europe 10% 9% 10% 6% 13%
Japan 1% 1% 2% 2% 2%
The percentage of revenue from the Asia Pacific region increased to 42%, mainly due to stronger demand from Asian fabless customers.
Revenue Breakdown by Geometry
Geometry 2Q09 1Q09 4Q08 3Q08 2Q08
65nm 12% 11% 8% 7% 5%
90nm 27% 27% 27% 31% 31%
90nm < x <=0.13um 19% 16% 22% 20% 21%
0.13um < x <=13um 21% 22% 23% 21% 20%
0.18um < x <=0.35um 16% 18% 15% 16% 18%
0.5um and above 5% 6% 5% 5% 5%
Revenue from 65nm business increased to 12% of total revenue, compared to
11% in 1Q09. The 2Q09 65nm revenue grew significantly by approximately 120%
from 1Q09. This was due to the stronger demand for leading communication
chips. The percentage of revenue from 90nm and below was 39% in 2Q09. Revenue
from 0.13um business increased to 19%, driven by more demand from the
communication segment.
Revenue Breakdown by Customer Type
Customer Type 2Q09 1Q09 4Q08 3Q08 2Q08
Fabless 77% 80% 80% 74% 71%
IDM 23% 20% 20% 26% 29%
System 0% 0% 0% 0% 0%
The percentage of revenue from IDM customers increased to 23% in 2Q09.
Revenue Breakdown by Application (1)
Application 2Q09 1Q09 4Q08 3Q08 2Q08
Computer 15% 15% 15% 16% 17%
Communication 62% 57% 61% 59% 58%
Consumer 21% 25% 22% 23% 22%
Memory 1% 1% 1% 1% 1%
Others 1% 2% 1% 1% 2%
(1) Computer consists of ICs such as HDD controllers, DVD-ROM/CD-ROM
drives ICs, LCD drivers, graphic processors, and PDAs. Communication
consists of xDSL, DSP, WLAN, LAN controllers, handset components, caller
ID devices, etc. Consumer consists of ICs used for DVD players, game
consoles, digital cameras, smart cards, toys, etc. Memory consists of DRAM,
SRAM, Flash, EPROM, ROM, and EEPROM.
