UMC Reports First Quarter 2015 Results

Foundry revenue grew to NT$36.00 billion and New Business segment recorded NT$1.67 billion, resulting in a consolidated revenue of NT$37.65 billion. Depreciation increased 7.3% QoQ to NT$9.12 billion, primarily from new 28nm tools deployed for capacity expansion. Other manufacturing costs were up 4.5% QoQ to NT$19.38 billion, mainly from higher wafer shipments in 1Q15. Operating expenses declined 13.4% sequentially to NT$4.91 billion, mostly from the decrease in R&D expenses as costs related to 28nm programs in production were transferred to COGS. Net operating income was NT$4.10 billion.

Non-Operating Income and Expenses
(Amount: NT$ million)	1Q15	4Q14	1Q14
Non-Operating Income and Expenses	255	843	351
Net Interest Income and Expenses	(27)	(12)	(23)
Net Investment Gain and Loss	126	(37)	(110)
Gain and Loss on Disposal of Investment	190	639	367
Exchange Gain and Loss	(77)	201	22
Other Gain and Loss	43	52	95

Net non-operating income in 1Q15 was NT$255 million. Gain on disposal of investments was NT$190 million, while the volatility in currency markets led to an exchange loss of NT$77 million.

Cash Flow Summary
(Amount: NT$ million)	For the 3-Month Period Ended Mar. 31, 2015	For the 3-Month Period Ended Dec. 31, 2014
Cash Flow from Operating Activities	16,870	18,836
Net income before tax	4,354	5,375
Depreciation & Amortization	10,748	10,663
Gain on disposal of investments	(190)	(639)
Impairment loss on non-financial assets	226	-
Exchange loss (gain) on financial assets and liabilities	(13)	255
Changes in working capital	2,315	2,941
Income tax paid	(366)	(60)
Other	(204)	301
Cash Flow from Investing Activities	(16,498)	(16,790)
Capital expenditures	(14,893)	(16,208)
Acquisition of available-for-sale financial assets	(1,897)	(1,774)
Proceeds from disposal of available-for-sale financial assets	209	1,112
Acquisition of subsidiaries (net of cash acquired)	415	-
Proceeds from disposal of non-current assets held for sale Acquisition of intangible assets Changes in other assets-others	642 (344) (517)	- (282) 51
Other	(113)	311
Cash Flow from Financing Activities	8,155	429
Bank loans	1,716	4,107
Redemption of bonds	-	(3,831)
Increase in other financial liabilities	6,108	-
Other	331	153
Effect of Exchange Rate	(776)	993
Net Cash Flow	7,751	3,468
Disposal Group included in Non-Current Assets Held for Sale	(331)	(511)
Total Cash Flow	7,420	2,957

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 Next Page »