ADVANCED SEMICONDUCTOR ENGINEERING INC TAIPEI, Taiwan, R.O.C., 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 reported unaudited consolidated financial results for the fourth quarter and full year of 2015 at an earnings release conference earlier today. As the Company's equity method investee Siliconware Precision Industries Co., Ltd. ("SPIL") announced its fourth quarter and full year of 2015 on the same day, the Company hereby amends and restates the previously announced unaudited financial results in their entirety to reflect SPIL's latest publicly announced financial results as follows: 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$4,562 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$0.60 (or US$0.092 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$0.58 (or US$0.089 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$19,051 million. Basic earnings per share for the full year of 2015 were NT$2.49 (or US$0.393 per ADS). Diluted earnings per share for the full year of 2015 were NT$2.39 (or US$0.378 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$6,440 million, including
NT$2,804 million in R&D and NT$3,636 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$6,843 million, up from
NT$6,382 million in 3Q15. Operating margin was 9.1% 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.
-- Loss on equity-method investments of NT$40 million was primarily
attributable to the share of profit from our investment in 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$693 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$6,150 million for 4Q15, compared to NT$7,810
million in 3Q15. We recorded income tax expenses of NT$1,266 million
during the quarter, compared to NT$1,127 million in 3Q15.
-- In 4Q15, net income attributable to shareholders of the parent was
NT$4,562 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$0.60 (or US$0.092 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$0.58 (or US$0.089 per
ADS) were based on 7,839,518,350 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$4,637 million, including
NT$2,072 million in R&D and NT$2,565 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$5,355 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$25,223 million, including
NT$10,928 million in R&D and NT$14,295 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$24,926 million, compared to
operating income of NT$ 29,646 million for the previous year. Operating
margin decreased to 8.8% in 2015 from 11.6% in 2014.
-- Total non-operating expenses for the year were NT$60 million, compared
to total non-operating expenses of NT$1,098 million for 2014.
-- Income before tax was NT$24,866 million for 2015. We recognized an
income tax expense of NT$4,845 million during the year.
-- In 2015, net income attributable to shareholders of the parent amounted
to NT$19,051 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$2.49 (or US$0.393 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$2.39 (or US$0.378 per
ADS) were based on 8,249,519,459 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$18,496 million, including
NT$8,075 million in R&D and NT$10,421 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$21,646 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.
IR Contact:
Michelle Jao, Manager Grace Teng, Manager
mjao@iselabs.com grace_teng@aseglobal.com
Tel: +1.510.687.2481 Tel: +886.2.6636.5678
http://www.aseglobal.comSupplemental 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 Sep. 30 Dec. 31 Dec. 31 Dec. 31
2015 2015 2014 2015 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 (3,636) (3,761) (3,795) (14,295) (13,653)
Total operating expenses (6,440) (6,605) (6,564) (25,223) (23,943)
Operating income 6,843 6,382 9,847 24,926 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 investments(2) (40) 29 (28) (61) (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) (693) 1,428 (268) (60) (1,098)
Income before tax 6,150 7,810 9,579 24,866 28,548
Income tax expense (1,266) (1,127) (1,475) (4,845) (4,266)
------ ------ ------ ------ ------
Income from continuing operations and 4,884 6,683 8,104 20,021 24,282
before noncontrolling interest
Noncontrolling interest (322) (315) (240) (970) (645)
---- ---- ---- ---- ----
Net income attributable to
shareholders of the parent 4,562 6,368 7,864 19,051 23,637
===== ===== ===== ====== ======
Per share data:
Earnings (losses) per share
- Basic NT$0.60 NT$0.83 NT$1.02 NT$2.49 NT$3.07
- Diluted NT$0.58 NT$0.69 NT$0.99 NT$2.39 NT$2.96
Earnings (losses) per equivalent ADS
- Basic US$0.092 US$0.132 US$0.167 US$0.393 US$0.509
- Diluted US$0.089 US$0.109 US$0.162 US$0.378 US$0.489
Number of weighted average shares used in 7,839,518 8,230,923 8,192,428 8,249,519 8,220,694
diluted EPS calculation (in thousands)
Exchange rate (NT$ 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 Sep. 30 Dec. 31 Dec. 31 Dec. 31
2015 2015 2014 2015 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 (2,565) (2,882) (2,704) (10,421) (10,056)
Total operating expenses (4,637) (5,007) (4,841) (18,496) (18,206)
Operating income 5,355 5,644 8,931 21,646 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 investments(2) 869 (63) 633 2,261 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) 363 1,789 342 1,964 1,001
Income before tax 5,718 7,433 9,273 23,610 27,501
Income tax expense (1,105) (1,016) (1,344) (4,367) (3,675)
------ ------ ------ ------ ------
Income from continuing operations and 4,613 6,417 7,929 19,243 23,826
before noncontrolling interest
Noncontrolling interest (51) (49) (65) (192) (189)
--- --- --- ---- ----
Net income attributable to
shareholders of the parent 4,562 6,368 7,864 19,051 23,637
===== ===== ===== ====== ======
Per share data:
Earnings (losses) per share
- Basic NT$0.60 NT$0.83 NT$1.02 NT$2.49 NT$3.07
- Diluted NT$0.58 NT$0.69 NT$0.99 NT$2.39 NT$2.96
Number of weighted average shares used in 7,839,518 8,230,923 8,192,428 8,249,519 8,220,694
diluted EPS calculation (in thousands)
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of Comprehensive Income Data - EMS[5]
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended For the year ended
========================== ==================
Dec. 31 Sep. 30 Dec. 31 Dec. 31 Dec. 31
2015 2015 2014 2015 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 842 701 1,201 3,113 3,461
before noncontrolling interest
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 method(2)
38,320 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 365,260 368,452
======= =======
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 32,501 29,861
------ ------
Total current liabilities 120,466 119,914
Bonds payable 23,740 35,804
Long-term borrowings &
capital lease obligations 42,795 38,389
Other liabilities 9,831 10,062
----- ------
Total liabilities 196,832 204,169
Shareholders of the parent 156,924 153,529
Noncontrolling interest 11,504 10,754
Total liabilities &
shareholders' equity 365,260 368,452
======= =======
Current Ratio 1.30 1.31
Net Debt to Equity 0.36 0.48
[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 audited financial statements of
SPIL are unavailable. The share of
profit from our investment in SPIL
is based on SPIL's public
announcement.
[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.
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-2015-300212106.html
SOURCE Advanced Semiconductor Engineering, Inc.
