- Net revenue contribution from IC ATM operations was NT$37,900 million for the fourth quarter of 2013, up by 10% year-over-year and up by 0.2% sequentially. Net revenue contribution from packaging operations, testing operations, and substrates sold to third parties was NT$30,929 million, NT$6,225 million, and NT$746 million, respectively, and each represented approximately 82%, 16%, and 2%, respectively, of total net revenues for the quarter.
- Cost of revenues was NT$27,475 million, up by 4% year-over-year and down by 2% sequentially.
- Raw material cost totaled NT$9,200 million during the quarter, representing 24% of total net revenues, compared with NT$10,037 million and 27% of total net revenues in the previous quarter.
- Labor cost totaled NT$6,652 million during the quarter, representing 18% of total net revenues, compared with NT$6,530 million and 17% of total net revenues in the previous quarter.
- Depreciation, amortization and rental expenses totaled NT$5,904 million during the quarter, up by 8% year-over-year and up by 3% sequentially.
- Gross margin increased 2.0 percentage points to 27.5% in 4Q13 from 25.5% in 3Q13.
- Total operating expenses during 4Q13 were NT$4,342 million, including NT$1,955 million in R&D and NT$2,387 million in SG&A, compared with total operating expenses of NT$4,263 million in 3Q13. Total operating expenses as a percentage of net revenues for the current quarter were 11%, and remained the same as 4Q12 and 3Q13.
- Operating income for the quarter totaled NT$6,083 million, up from NT$5,383 million in the previous quarter. Operating margin was 16.1% in 4Q13 compared to 14.2% in 3Q13.
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[2] ATM stands for Semiconductor Assembly, Testing and Material. |
4Q13 Results Highlights – EMS
- Net revenue contribution from EMS operations was NT$28,420 million, up by 41% year-over-year and up by 45% sequentially.
- Cost of revenues was NT$26,231 million, up by 46% year-over-year and up by 49% sequentially.
- Raw material cost totaled NT$22,398 million during the quarter, representing 79% of total net revenues, compared with NT$15,573 million and 80% of total net revenues in the previous quarter.
- Labor cost totaled NT$754 million during the quarter, representing 3% of total net revenues, compared with NT$769 million and 4% of total net revenues in the previous quarter.
- Depreciation, amortization and rental expenses totaled NT$288 million during the quarter, up by 24% year-over-year and up by 7% sequentially.
- Gross margin decreased to 7.7% in 4Q13 from 9.7% in 3Q13.
- Total operating expenses during 4Q13 were NT$1,231 million, including NT$492 million in R&D and NT$739 million in SG&A, compared with total operating expenses of NT$1,211 million in 3Q13. Total operating expenses as a percentage of net revenues for the current quarter were 4%, down from 6% in 4Q12 and 3Q13.
- Operating income for the quarter totaled NT$958 million, up from NT$678 million in the previous quarter. Operating margin decreased to 3.4% in 4Q13 from 3.5% in 3Q13.
2013 Full-Year Results Highlights – Consolidated
- Net revenues for the full year of 2013 amounted to NT$219,862 million, up by 13% from 2012. The revenue contribution from packaging operations, testing operations, EMS operations, substrates sold to third parties and others each represented approximately 51%, 11%, 36%, 1% and 1%, respectively, of total net revenues for the year.
- Cost of revenue for the year of 2013 were NT$177,072 million, compared with NT$157,352 million in 2012.
- Raw material cost totaled NT$100,315 million during the year, representing 46% of total net revenues, compared with NT$87,830 million and 45% of total net revenues in the 2012.
- Labor cost totaled NT$28,085 million during the year, representing 13% of total net revenues, compared with NT$24,812 million and 13% of total net revenues in 2012.
- Depreciation, amortization and rental expenses totaled NT$24,447 million during the year, representing 11% of total net revenues, compared with NT$22,130 million and 11% of total net revenues in 2012.
- Gross margin increased 0.6 percentage points to 19.5% in 2013 from 18.9% in 2012.
- Total operating expenses during 2013 were NT$20,812 million, including NT$9,087 million in R&D and NT$11,725 million in SG&A. Total operating expenses as a percentage of net revenues were 9% in 2013, and down from 10% in 2012.
- Operating income for the year was NT$21,978 million, compared to operating income of NT$ 17,687 million for the previous year. Operating margin increased to 10.0% in 2013 from 9.1% in 2012.
- Total non-operating expenses for the year were NT$1,957 million, compared to total non-operating expenses of NT$1,103 million for 2012.
- Income before tax was NT$20,021 million for 2013. We recognized an income tax expense of NT$3,259 million during the year.
- In 2013, net income attributable to shareholders of the parent amounted to NT$16,296 million, compared with a net income attributable to shareholders of the parent of NT$13,066 million in 2012.
- Our total number of shares outstanding at the end of the year was 7,787,826,546, including treasury stock owned by our subsidiaries. Our 2013 diluted earnings per share of NT$2.11 (or US$0.356 per ADS) were based on 7,748,925,220 weighted average number of shares outstanding in 2013.
2013 Full-Year Results Highlights – IC ATM
- Net revenue contribution from IC ATM operations for the full year of 2013 amounted to NT$143,322 million, up by 10% from 2012. The revenue contribution from packaging operations, testing operations, and substrates sold to third parties was NT$115,639 million, NT$24,732 million, and NT$2,951 million, respectively, and each represented approximately 81%, 17%, and 2%, respectively, of total net revenues for the year.
- Cost of revenues for the full year of 2013 was NT$108,304 million, compared with NT$101,458 million in 2012.
- Raw material cost totaled NT$38,250 million during the year, representing 27% of total net revenues, compared with NT$38,614 million and 30% of total net revenues in 2012.
- Labor cost totaled NT$25,171 million during the year, representing 18% of total net revenues, compared with NT$22,272 million and 17% of total net revenues in 2012.
- Depreciation, amortization and rental expenses totaled NT$23,051 million during the year, representing 16% of total net revenues, compared with NT$20,853 million and 16% of total net revenues in 2012.
- Gross margin increased to 24.4% in 2013 from 22.0% in 2012.
- Total operating expenses during 2013 were NT$16,073 million, including NT$7,294 million in R&D and NT$8,779 million in SG&A. Total operating expenses as a percentage of net revenues was 11% in 2013, and remained the same as 2012.
- Operating income for the year was NT$18,945 million, compared to operating income of NT$14,198 million for the previous year. Operating margin increased to 13.2% in 2013 from 10.9% in 2012.
