Operating revenues in 1Q19 declined 8.3% to NT$32.58 billion, including NT$32.56 billion from the foundry segment. Revenue contribution from 40nm and below technologies was 30%. Gross profit fell 50.8% to NT$2.26 billion, or 6.9% of revenue. Operating expenses declined 22.9% to NT$4.93 billion. Net other operating income was NT$1.07 billion, leading to an operating loss of NT$1.60 billion. Net non-operating income was NT$1.25 billion. Net income attributable to stockholders of the parent was NT$1.20 billion.

Earnings per ordinary share for the quarter was NT$0.10. Earnings per ADS was US$0.016. The basic weighted average number of outstanding shares in 1Q19 was 11,908,706,645, compared with 12,111,826,935 shares in 4Q18 and 12,202,773,078 shares in 1Q18. The diluted weighted average number of outstanding shares was 13,238,181,278 in 1Q19, compared with 12,111,826,935 shares in 4Q18 and 13,457,161,259 shares in 1Q18. The fully diluted share count on March 31, 2019 was approximately 13,453,794,000. On March 31, 2019, UMC held 200 million treasury shares acquired from the 17th share buy-back program.

Detailed Financials Section

COGS & Expenses
(Amount: NT$ million)		1Q19		4Q18		QoQ % change		1Q18		YoY % change
Operating Revenues		32,583		35,517		(8.3)		37,497		(13.1)
COGS		(30,321)		(30,916)		(1.9)		(32,855)		(7.7)
Depreciation		(10,497)		(10,228)		2.6		(11,815)		(11.2)
Other Mfg. Costs		(19,824)		(20,688)		(4.2)		(21,040)		(5.8)
Gross Profit		2,262		4,601		(50.8)		4,642		(51.3)
Gross Margin (%)		6.9%		13.0%				12.4%
Operating Expenses		(4,932)		(6,396)		(22.9)		(4,850)		1.7
G&A		(1,236)		(1,339)		(7.7)		(1,017)		21.5
Sales & Marketing		(889)		(903)		(1.6)		(909)		(2.2)
R&D		(2,807)		(3,745)		(25.0)		(2,924)		(4.0)
Expected Credit Losses		-		(409)		(100.0)		-		-
Net Other Operating Income & Expenses		1,073		1,206		(11.0)		977		9.8
Operating Income (Loss)		(1,597)		(589)		171.3		769		-

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