Loss per ordinary share for the quarter was NT$0.14. Loss per ADS was US$0.023. The basic weighted average number of outstanding shares in 4Q18 was 12,111,826,935, compared with 12,053,892,152 shares in 3Q18 and 12,208,239,978 shares in 4Q17. The diluted weighted average number of outstanding shares was 12,111,826,935 in 4Q18, compared with 13,354,955,886 shares in 3Q18 and 13,474,873,551 shares in 4Q17. The fully diluted share count on December 31, 2018 was approximately 13,512,438,000. On December 31, 2018, UMC held 480 million treasury shares acquired from the 17th and 19th share buy-back programs.
Detailed Financials Section
Net operating revenues decreased 9.8% to NT$35.52 billion. COGS declined 4.8% to NT$30.92 billion, as depreciation declined 11.4% to NT$10.23 billion while other manufacturing costs declined 1.1% to NT$20.69 billion. Gross profit was NT$4.60 billion. Operating expenses increased 12.2% to NT$6.40 billion due to an increase of 12.5% in R&D expense to NT$3.75 billion and an Expected Credit Loss of NT$409 million, which was partially offset by decreases in Sales & Marketing and General and Administrative (G&A) expenses. R&D expense represented 10.6% of 4Q18 net operating revenues. Net other operating income was NT$1.21 billion, leading to an operating loss of NT$0.59 billion.
| COGS & Expenses | |||||||||||
| (Amount: NT$ million) | 4Q18 | 3Q18 | QoQ % | 4Q17 | YoY % | ||||||
| change | change | ||||||||||
| Net Operating Revenues | 35,517 | 39,387 | (9.8) | 36,631 | (3.0) | ||||||
| COGS | (30,916) | (32,465) | (4.8) | (30,333) | 1.9 | ||||||
| Depreciation | (10,228) | (11,549) | (11.4) | (10,990) | (6.9) | ||||||
| Other Mfg. Costs | (20,688) | (20,916) | (1.1) | (19,343) | 7.0 | ||||||
| Gross Profit | 4,601 | 6,922 | (33.5) | 6,298 | (26.9) | ||||||
| Gross Margin (%) | 13.0% | 17.6% | 17.2% | ||||||||
| Operating Expenses | (6,396) | (5,702) | 12.2 | (5,198) | 23.0 | ||||||
| G&A | (1,339) | (1,386) | (3.4) | (1,164) | 15.0 | ||||||
| Sales & Marketing | (903) | (987) | (8.5) | (944) | (4.3) | ||||||
| R&D | (3,745) | (3,329) | 12.5 | (3,090) | 21.2 | ||||||
| Expected Credit Loss | (409) | - | - | - | - | ||||||
|
Net Other Operating Income & Expenses |
1,206 | 1,215 | (0.7) | 801 | 50.6 | ||||||
| Operating Income (Loss) | (589) | 2,435 | - | 1,901 | - | ||||||
