Net operating revenues in 3Q18 increased 1.4% to NT$39.39 billion, including NT$39.33 billion from the foundry segment. Revenue contribution from 40nm and below technologies declined to 40%. Gross profit increased 3.7% to NT$6.92 billion, or 17.6% of revenue. Operating expenses increased 9.4% to NT$5.70 billion. Net other operating income was NT$1.21 billion, leading to operating income of NT$2.44 billion. Net non-operating expense was NT$1.61 billion. Net income attributable to stockholders of the parent was NT$1.72 billion.

Earnings per ordinary share for the quarter was NT$0.14. Earnings per ADS was US$0.023. The basic weighted average number of outstanding shares in 3Q18 was 12,053,892,152, compared with 12,048,575,089 shares in 2Q18 and 12,208,239,978 shares in 3Q17. The diluted weighted average number of outstanding shares was 13,354,955,886 in 3Q18, compared with 13,268,862,054 shares in 2Q18 and 13,441,188,010 shares in 3Q17. The fully diluted share count on September 30, 2018 was approximately 13,725,383,000. On September 30, 2018, UMC held 200 million treasury shares acquired from the 17th share buy-back programs.

Detailed Financials Section

Net operating revenues grew 1.4% to NT$39.39 billion. COGS increased 0.9% to NT$32.47 billion, as depreciation declined 4.9% to NT$11.55 billion while other manufacturing costs increased 4.4% to NT$20.92 billion. Gross profit was NT$6.92 billion. Operating expenses increased 9.4% to NT$5.70 billion. General and Administrative (G&A) expenses increased 28% to NT$1.39 billion. Sales & Marketing expenses declined 10.5% to NT$0.99 billion and R&D expenses were up 10% to NT$3.33 billion, or 8.5% of net operating revenues. Net other operating income was NT$1.21 billion, leading to an operating income of NT$2.44 billion.

COGS & Expenses
(Amount: NT$ million)				3Q18		2Q18		QoQ % change		3Q17		YoY % change
Net Operating Revenues				39,387		38,852		1.4		37,698		4.5
COGS				(32,465)		(32,177)		0.9		(31,106)		4.4
Depreciation				(11,549)		(12,139)		(4.9)		(11,145)		3.6
Other Mfg. Costs				(20,916)		(20,038)		4.4		(19,961)		4.8
Gross Profit				6,922		6,675		3.7		6,592		5.0
Gross Margin (%)				17.6%		17.2%				17.5%
Operating Expenses				(5,702)		(5,213)		9.4		(5,404)		5.5
G&A				(1,386)		(1,083)		28.0		(991)		39.9
Sales & Marketing				(987)		(1,103)		(10.5)		(1,070)		(7.8)
R&D				(3,329)		(3,027)		10.0		(3,343)		(0.4)
Net Other Operating Income & Expenses				1,215		1,719		(29.3)		441		175.5
Operating Income				2,435		3,181		(23.5)		1,629		49.5

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