Advanced Semiconductor Engineering, Inc. Reports Unaudited

Advanced Semiconductor Engineering, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter of 2017

Testing Operations

Amounts in NT$ Millions	1Q/17	4Q/16	1Q/16
Net Revenues	6,365	7,303	5,995
Revenues by Testing Type
Final test	81%	77%	78%
Wafer sort	15%	20%	18%
Engineering test	4%	3%	4%
Capacity
CapEx (US$ Millions)*	31	30	47
Number of Testers	3,782	3,739	3,453

EMS Operations

Amounts in NT$ Millions	1Q/17	4Q/16	1Q/16
Net Revenues	29,363	34,634	24,788
Revenues by End Application
Communication	49%	53%	51%
Computer	15%	14%	19%
Consumer	22%	20%	15%
Industrial	7%	7%	7%
Automotive	6%	5%	7%
Others	1%	1%	1%
Capacity
CapEx (US$ Millions)*	3	6	2
* Capital expenditure excludes building construction costs.

Advanced Semiconductor Engineering, Inc. Summary of Consolidated Statement of Comprehensive Income Data (In NT$ millions, except per share data) (Unaudited)
	For the three months ended
	Mar. 31 2017	Dec. 31 2016	Mar. 31 2016
Net revenues:
Packaging	29,806	33,620	28,036
Testing	6,365	7,303	5,995
Direct Material	892	806	892
EMS	29,355	34,627	24,749
Others	133	772	2,699
Total net revenues	66,551	77,128	62,371

Cost of revenues	(54,573)	(61,751)	(50,922)
Gross profit	11,978	15,377	11,449

Operating expenses:
Research and development	(2,763)	(3,091)	(2,608)
Selling, general and administrative	(3,987)	(4,153)	(3,635)
Total operating expenses	(6,750)	(7,244)	(6,243)
Operating income	5,228	8,133	5,206

Net non-operating (expenses) income:
Interest expense - net	(435)	(451)	(527)
Foreign exchange gain (loss)	2,891	(308)	881
Gain (loss) on valuation of financial assets and liabilities	(3,964)	1,940	(360)
Gain (loss) on equity-method investments ^[4]	(162)	427	103
Others	299	(72)	71
Total non-operating income (expenses)	(1,371)	1,536	168
Income before tax	3,857	9,669	5,374

Income tax expense	(886)	(1,274)	(1,318)
Income from continuing operations and before noncontrolling interest	2,971	8,395	4,056
Noncontrolling interest	(402)	(430)	(174)

Net income attributable to shareholders of the parent	2,569	7,965	3,882

Per share data:
Earnings (losses) per share
– Basic	NT$0.33	NT$1.04	NT$0.51
– Diluted	NT$0.30	NT$0.88	NT$0.40

Earnings (losses) per equivalent ADS
– Basic	US$0.054	US$0.164	US$0.077
– Diluted	US$0.047	US$0.140	US$0.060

Number of weighted average shares used in diluted EPS calculation (in thousands)	7,931,316	8,255,657	8,293,278

Exchange rate (NT$ per US$1)	31.20	31.62	33.07

Advanced Semiconductor Engineering, Inc. Summary of Consolidated Statement of Comprehensive Income Data – IC ATM (In NT$ millions, except per share data) (Unaudited)
	For the three months ended
	Mar. 31 2017	Dec. 31 2016	Mar. 31 2016
Net revenues:
Packaging	31,061	35,242	28,597
Testing	6,365	7,303	5,995
Direct Material	935	898	931
Others	24	20	20
Total net revenues	38,385	43,463	35,543

Cost of revenues	(29,550)	(31,816)	(27,711)
Gross profit	8,835	11,647	7,832

Operating expenses:
Research and development	(2,000)	(2,269)	(1,922)
Selling, general and administrative	(2,850)	(3,003)	(2,688)
Total operating expenses	(4,850)	(5,272)	(4,610)
Operating income	3,985	6,375	3,222

Net non-operating (expenses) income:
Interest expense - net	(498)	(499)	(604)
Foreign exchange gain (loss)	2,868	(432)	834
Gain (loss) on valuation of financial assets and liabilities	(4,072)	1,881	(261)
Gain (loss) on equity-method investments ^[4]	610	1,617	1,149
Others	325	104	124
Total non-operating income (expenses)	(767)	2,671	1,242
Income before tax	3,218	9,046	4,464

Income tax expense	(570)	(967)	(529)
Income from continuing operations and before noncontrolling interest	2,648	8,079	3,935
Noncontrolling interest	(79)	(114)	(53)

Net income attributable to shareholders of the parent	2,569	7,965	3,882

Advanced Semiconductor Engineering, Inc. Summary of Consolidated Statement of Comprehensive Income Data – EMS (In NT$ millions, except per share data) (Unaudited)
	For the three months ended
	Mar. 31 2017	Dec. 31 2016	Mar. 31 2016
Net revenues:
Total net revenues	29,363	34,634	24,788

Cost of revenues	(26,249)	(31,038)	(22,781)
Gross profit	3,114	3,596	2,007

Operating expenses:
Research and development	(780)	(840)	(710)
Selling, general and administrative	(1,101)	(1,099)	(920)
Total operating expenses	(1,881)	(1,939)	(1,630)
Operating income	1,233	1,657	377

Net non-operating (expenses) income:
Total non-operating income	217	114	78
Income before tax	1,450	1,771	455

Income tax expense	(303)	(509)	(81)
Income from continuing operations and before noncontrolling interest	1,147	1,262	374
Noncontrolling interest	(313)	(305)	(108)

Net income attributable to shareholders of the parent	834	957	266

Advanced Semiconductor Engineering, Inc. Summary of Consolidated Balance Sheet Data (In NT$ millions) (Unaudited)
	As of Mar. 31, 2017		As of Dec. 31, 2016

Current assets:
Cash and cash equivalents		42,474		38,392
Financial assets – current		3,720		3,895
Notes and accounts receivable		43,728		51,145
Inventories		42,616		45,626
Others		3,835		3,732
Total current assets		136,373		142,790

Financial assets – non current & Investments – equity method		52,200		52,174
Property plant and equipment		140,072		143,880
Intangible assets		11,922		12,120
Prepaid lease payments		2,081		2,237
Others		4,901		4,742
Total assets		347,549		357,943

Current liabilities:
Short-term borrowings		13,400		20,956
Current portion of bonds payable		15,179		9,658
Current portion of long-term borrowings & capital lease obligations		7,218		6,683
Notes and accounts payable		30,621		35,804
Others		32,173		31,375
Total current liabilities		98,591		104,476

Bonds payable		28,476		27,342
Long-term borrowings & capital lease obligations		33,639		47,013
Other liabilities		10,053		9,765
Total liabilities		170,759		188,596

Shareholders of the parent		164,887		157,355

Noncontrolling interest		11,903		11,992

Total liabilities & shareholders' equity		347,549		357,943


Current Ratio		1.38		1.37

Net Debt to Equity		0.30		0.41

^[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] ATM stands for Semiconductor Assembly, Testing and Material.

^[3] IC packaging services include module assembly services.

^[4] As of September 30, 2016, we have completed the identification of the difference between the cost of the investment and our share of the net fair value of SPIL's identifiable assets and liabilities. Accordingly, we retrospectively adjusted the provisional amounts recognized at the acquisition dates in September 2015, March and April 2016, respectively.

IR Contact :

Iris Wu, Manager	Grace Teng, Manager
irissh_wu@aseglobal.com	grace_teng@aseglobal.com
Tel: +886.2.6636.5678	Tel: +886.2.6636.5678
http://www.aseglobal.com

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-first-quarter-of-2017-300447868.html

SOURCE Advanced Semiconductor Engineering, Inc.

Contact:

Advanced Semiconductor Engineering, Inc.
Web: http://www.aseglobal.com

« Previous Page 1 | 2 | 3