TAICHUNG, Taiwan, Jan. 29, 2016 /PRNewswire/ -- Siliconware Precision Industries Co., Ltd. ("SPIL" or the "Company") (Taiwan Stock Exchange: 2325, NASDAQ: SPIL) today announced that its consolidated sales revenues for the fourth quarter of 2015 were NT$ 20,765 million, which represented a 3.7% increase in revenues compared to the third quarter of 2015 and a 3.1% decline in revenues compared to the fourth quarter of 2014. SPIL reported a net loss of NT$ 212 million for the fourth quarter of 2015, compared with a net income of NT$ 2,682 million and a net income of NT$ 3,015 million for the third quarter of 2015 and the fourth quarter of 2014, respectively.
Diluted earnings per ordinary share for this quarter was NT$ (0.07), and diluted earnings per ADS was US$ (0.01).
All figures were prepared in accordance with T-IFRS on a consolidated basis.
Operating results review:
-- For the fourth quarter of 2015, net revenues from IC packaging were NT$ 18,449 million and represented 89% of total net revenues. Net revenues from testing operations were NT$ 2,316 million and represented 11% of total net revenues. -- Cost of goods sold was NT$ 15,323 million, representing an increase of 1.5% compared to the third quarter of 2015 and a decrease of 2.1% compared to the fourth quarter of 2014. -- Raw materials costs were NT$ 6,457 million for the fourth quarter of 2015 and represented 31.1% of total net revenues, whereas raw materials costs were NT$ 6,150 million and represented 30.7% of total net revenues for the third quarter of 2015. -- Gross profit was NT$ 5,442 million for the fourth quarter of 2015, representing a gross margin of 26.2%, which increased from a gross margin of 24.7% for the third quarter of 2015 and decreased from 26.9% for the fourth quarter of 2014. -- Total operating expenses for the fourth quarter of 2015 were NT$ 2,181 million, which included selling expenses of NT$ 193 million, administrative expenses of NT$ 1,108 million and R&D expenses of NT$ 880 million. Total operating expenses represented 10.5% of total net revenues for the fourth quarter of 2015. -- Operating income was NT$ 3,261 million for the fourth quarter of 2015, representing an operating margin of 15.7%, which increased from 14.6% for the third quarter of 2015 and decreased from 18.0% for the fourth quarter of 2014. -- Non-operating items: -- Our non-operating expense was NT$ 3,662 million, including net losses of NT$ 1,425 million on fair value change of financial liabilities at fair value through profit or loss and an impairment loss of NT$ 1,856 million from Unimicron Technology Co. -- Net loss before tax was NT$ 6 million for the fourth quarter of 2015, which decreased from a net income before tax of NT$ 3,051 million for the third quarter of 2015 and decreased from a net income before tax of NT$ 3,684 million for the fourth quarter of 2014. -- Income tax expense was NT$ 206 million for the fourth quarter of 2015, compared with income tax expense of NT$ 369 million for the third quarter of 2015 and income tax expense of NT$ 669 million for the fourth quarter of 2014. -- Net loss was NT$ 212 million for the fourth quarter of 2015, which decreased from a net income of NT$ 2,682 million for the third quarter of 2015 and decreased from a net income of NT$ 3,015 million for the fourth quarter of 2014. -- Total number of shares outstanding was 3,116 million shares as of Dec 31, 2015. Diluted earnings per ordinary share was NT$ (0.07), and diluted earnings per ADS was US$ (0.01).
Capital expenditure and balance sheet highlight:
-- Our cash balances totaled NT$ 25,191 million as of Dec 31, 2015 from NT$ 22,437 million as of Sept 30, 2015, and NT$ 30,155 million as of Dec 31, 2014. -- Capital expenditures for the fourth quarter of 2015 totaled NT$ 3,070 million. -- Total depreciation expenses for the fourth quarter of 2015 totaled NT$ 3,225 million.
IC packaging service:
-- Net revenues from IC packaging operations were NT$ 18,449 million for the fourth quarter of 2015, which represented an increase of NT$ 705 million or 4.0% compared to the third quarter of 2015. -- Substrate-based packaging, leadframe-based packaging and wafer bumping & Flip Chip accounted for 27%, 17% and 45%, respectively, of total net revenues for the fourth quarter of 2015. -- As of Dec 31, 2015 we had 7,323 wirebonders installed, of which 25 were disposed in the fourth quarter of 2015.
IC testing service:
-- Net revenues from testing operations were NT$ 2,316 million for the fourth quarter of 2015, which represented an increase of NT$ 30 million or 1.3% compared to the third quarter of 2015. -- As of Dec 31, 2015 we had 547 testers installed, of which 9 were added and 5 were disposed in the fourth quarter of 2015.
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Revenue Analysis
-- Breakdown by end applications:
By application 4Q15 3Q15 -------------- ---- ---- Communication 63% 64% ------------- --- --- Computing 9% 10% --------- --- --- Consumer 25% 22% -------- --- --- Memory 3% 4% ------ --- ---
-- Breakdown by packaging type:
By application 4Q15 3Q15 -------------- ---- ---- Bumping & Flip Chip 45% 44% ------------------- --- --- Substrate Based 27% 27% --------------- --- --- Leadframe Based 17% 18% --------------- --- --- Testing 11% 11% ------- --- ---
About SPIL
Siliconware Precision Industries Ltd. ("SPIL")(NASDAQ:SPIL, Taiwan Stock Exchange:2325) is a leading provider of comprehensive semiconductor assembly and test services. SPIL is dedicated to meeting all of its customers' integrated circuit packaging and testing requirements, with turnkey solutions that range from design consultations, modeling and simulations, wafer bumping, wafer probe and sort, package assembly, final test, burn-in, to shipment. Products include advanced leadframe, substrate packages, wafer bumping and FCBGA, which are widely used in personal computers, communications, Internet appliances, cellular phones, digital cameras, cable modems, personal digital assistants and LCD monitors. SPIL supplies services and support to fabless design houses, integrated device manufacturers and wafer foundries globally. For further information, visit SPIL's web site at www.spil.com.tw.
Safe Harbor Statement
The information herein contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. We have based these forward-looking statements on our current expectation and projections about future events. Such forward-looking statements are inherently subject to known and unknown risks, uncertainties, assumptions about us and other factors that may cause the actual performance, financial condition or results of operations of SPIL to be materially different from what may be implied by such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors, including, among other things:
-- the intensely competitive personal computer, communications, consumer ICs and non-commodity memory semiconductor industries and markets; -- cyclical nature of the semiconductor industry; -- risks associated with global business activities; -- non-operating losses due to poor financial performance of some of our investments; -- our dependence on key personnel; -- general economic and political conditions; -- possible disruptions in commercial activities caused by natural and human induced disaster, including terrorist activities and armed conflicts and contagious disease, such as the Severe Acute Respiratory Syndrome; -- fluctuations in foreign currency exchange rates; and -- other risks identified in our annual reports on Form 20-F filed with the U.S. Securities and Exchange Commission each year.
The words "anticipate," "believe," "estimate," "expect," "intend," "plan" and similar expressions, as they relate to us, are intended to identify a number of these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur and our actual results could differ materially from those anticipated in these forward-looking statements.
All financial figures discussed herein are prepared pursuant to TIFRS on a consolidated basis. The investment gains or losses of our company for the three months ended Dec 31, 2015 reflect our gains or losses attributable to the fourth quarter of 2015 unaudited financial results of several of our investees which are evaluated under the equity method. Neither the consolidated financial data for our company for the three months ended Dec 31, 2015, nor the consolidated financial data for our company for the twelve months ended Dec 31, 2015 is necessarily indicative of the results that may be expected for any period thereafter.
Contact:
Siliconware Precision Industries Co., Ltd.
No.45, Jieh Show Rd.
Hsinchu Science Park, Hsinchu
Taiwan, 30056
www.spil.com.tw
Janet Chen, IR Director
janet@spil.com.tw
+886-3-5795678#3675
Mike Ma, Spokesperson
mikema@spil.com.tw
+886-4-25545527#5601
SILICONWARE PRECISION INDUSTRIES CO., LTD. ------------------------------------------ CONSOLIDATED BALANCE SHEET -------------------------- As of Dec 31, 2015 and 2014 (Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) Dec 31, 2015 Dec 31, 2014 Sequential ------------ ------------ ---------- ASSETS USD NTD % NTD % Change % ------ --- --- --- --- --- ------ --- Current Assets Cash and cash equivalent 767,445 25,191,374 21 30,154,713 23 (4,963,339) (16) Available-for-sale financial assets 32,512 1,067,204 1 - - 1,067,204 100 Accounts receivable 482,472 15,837,131 13 18,578,054 14 (2,740,923) (15) Inventories 137,161 4,502,319 4 4,381,135 3 121,184 3 Other current assets 66,631 2,187,184 1 2,094,006 1 93,178 4 Total current assets 1,486,221 48,785,212 40 55,207,908 41 (6,422,696) (12) --------- ---------- --- ---------- --- ---------- --- Non-current Assets Available-for-sale financial assets 168,360 5,526,412 4 8,999,903 8 (3,473,491) (39) Long-term investment under equity method 76,852 2,522,658 2 76,032 - 2,446,626 3,218 Property, plant and equipment 1,959,044 64,305,608 52 63,520,671 49 784,937 1 Intangible assets 5,873 192,774 - 249,170 - (56,396) (23) Other assets 58,265 1,912,566 2 1,702,391 2 210,175 12 --- Total non-current assets 2,268,394 74,460,018 60 74,548,167 59 (88,149) - ---------- --- ---------- --- ------- Total Assets 3,754,615 123,245,230 100 129,756,075 100 (6,510,845) (5) ============ ========= =========== === =========== === ========== === LIABILITIES AND STOCKHOLDERS' EQUITY ------------------------------------ Liabilities ----------- Current Liabilities Short-term loans 85,000 2,790,125 2 2,690,250 2 99,875 4 Financial liabilities at fair value through profit or loss - current 54,803 1,798,920 1 1,095,552 1 703,368 64 Accounts payable 211,501 6,942,527 6 8,020,963 7 (1,078,436) (13) Current portion of long-term debt 182,517 5,991,128 5 6,970,152 5 (979,024) (14) Other current liability 400,748 13,154,539 11 12,799,126 9 355,413 3 Non-current liabilities Bonds payable 384,686 12,627,311 10 11,875,483 9 751,828 100 Long-term loans 239,392 7,858,036 7 12,794,062 10 (4,936,026) (39) Other liabilities 45,149 1,482,002 1 1,403,868 1 78,134 6 --------- --- --------- --- ------ --- Total Liabilities 1,603,796 52,644,588 43 57,649,456 44 (5,004,868) (9) ------------------ --------- ---------- --- ---------- --- ---------- --- Stockholders' Equity -------------------- Capital stock 949,386 31,163,611 25 31,163,611 24 - - Capital reserve 480,072 15,758,358 13 15,771,456 12 (13,098) - Legal reserve 303,664 9,967,775 8 8,797,005 7 1,170,770 13 Retained earnings 302,244 9,921,153 8 11,678,749 9 (1,757,596) (15) Other equities 115,453 3,789,745 3 4,695,798 4 (906,053) (19) Total Equity 2,150,819 70,600,642 57 72,106,619 56 (1,505,977) (2) ------------ ---------- --- ---------- --- ---------- --- Total Liabilities & Shareholders' Equity 3,754,615 123,245,230 100 129,756,075 100 (6,510,845) (5) ======================================== ========= =========== === =========== === ========== === Forex ( NT$ per US$ ) 32.825 31.65 ------ ----- (1) All figures are under T-IFRS. (2) Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, the impact of newly effected GAAP shall be restroactively applied. The consolidated condensed balance sheets of Dec 31, 2014 have been updated accordingly.
SILICONWARE PRECISION INDUSTRIES CO., LTD. ---------------------------------------------- CONSOLIDATED COMPREHENSIVE INCOME STATEMENT ------------------------------------------- (Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) 3 months ended on Dec 31 Sequential Comparison ------------------------ --------------------- 4Q 2015 4Q 2014 YOY 4Q 2015 3Q 2015 QOQ ------- ------- ------- ------- USD NTD % NTD change % NTD NTD change % --- --- --- --- ------- --- --- ------- Revenues 636,454 20,764,940 100.0 21,430,915 -3.1 20,764,940 20,029,703 3.7 Cost of Goods Sold (469,646) (15,322,657) -73.8 (15,655,951) -2.1 (15,322,657) (15,090,116) 1.5 -------- ----------- ----- ----------- ---- ----------- ----------- --- Gross Profit 166,808 5,442,283 26.2 5,774,964 -5.8 5,442,283 4,939,587 10.2 ------- --------- ---- --------- ---- --------- --------- ---- Operating Expenses Selling Expenses (5,909) (192,773) -0.9 (247,455) -22.1 (192,773) (243,652) -20.9 Administrative Expenses (33,974) (1,108,448) -5.3 (696,858) 59.1 (1,108,448) (801,151) 38.4 Research and Development Expenses (26,979) (880,214) -4.3 (974,769) -9.7 (880,214) (965,931) -8.9 ---- ---- ---- (66,862) (2,181,435) -10.5 (1,919,082) 13.7 (2,181,435) (2,010,734) 8.5 ------- ---------- ----- ---------- ---- ---------- ---------- --- Operating Income 99,946 3,260,848 15.7 3,855,882 -15.4 3,260,848 2,928,853 11.3 Non-operating Items (100,144) (3,267,292) -15.7 (172,089) - (3,267,292) 121,878 - -------- ---------- ----- -------- --- ---------- ------- --- Income(Loss) Before Income Tax (198) (6,444) 0.0 3,683,793 -100.2 (6,444) 3,050,731 -100.2 Income Tax Expenses (6,301) (205,593) -1.0 (668,523) -69.2 (205,593) (368,427) -44.2 ------------------- -------- ---- -------- ----- -------- -------- ----- Net Income (Loss) (6,499) (212,037) -1.0 3,015,270 -107.0 (212,037) 2,682,304 -107.9 ================ ====== ======== ==== ========= ====== ======== ========= ====== Other comprehensive income Items that will not be reclassiflied to profit or loss Remeasurements of post employment benefit obligations (5,512) (179,842) (53,911) - Income tax relating to items that will not be reclassified to profit or loss 937 30,572 9,165 - Items that may be subsequently reclassified to profit or loss Exchange difference on translation of foreign financial statements (7,301) (238,202) 441,434 258,970 Unrealized gain (loss) on available-for-sale financial assets 61,246 1,998,197 522,682 (1,655,007) Income tax relating to items that may be reclassified to profit or loss (734) (23,942) (11,639) 30,363 ------- ------- ------ Total other comprehensive income 48,636 1,586,783 907,731 (1,365,674) ------ --------- ------- Total comprehensive income 42,137 1,374,746 3,923,001 1,316,630 ====== ========= ========= ========= Earnings Per Ordinary Share- Basic NT$ ( 0.07) NT$ 0.97 NT$ 0.86 ----------- ---------- ---------- Earnings Per Ordinary Share- Diluted NT$ ( 0.07) NT$ 0.97 NT$ 0.86 ----------- ---------- ---------- Earnings Per ADS- Diluted US$ ( 0.01) US$ 0.16 US$ 0.13 ------------- ------------ ------------ Weighted Average Outstanding Shares - Diluted ('k) 3,116,361 3,119,755 3,129,886 --------- --------- --------- Forex ( NT$ per US$ ) 32.626 30.84 31.975 ------ ----- ------ (1) All figures are under T-IFRS. (2) 1 ADS is equivalent to 5 Common Shares. (3) Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, the impact of newly effected GAAP shall be restroactively applied. The consolidated condensed Income Statement of Dec 31, 2014 have been updated accordingly.
SILICONWARE PRECISION INDUSTRIES CO., LTD. ---------------------------------------------- CONSOLIDATED COMPREHENSIVE INCOME STATEMENT ------------------------------------------- For the Twelve Months Ended on Dec 31, 2015 and 2014 (Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) 12 months ended on Dec 31 ------------------------- 2015 2014 YOY ---- ---- USD NTD % NTD change % --- --- --- --- ------- Revenues 2,611,703 82,839,922 100.0 83,071,441 -0.3 Cost of Goods Sold (1,930,154) (61,230,622) -73.9 (62,081,253) -1.4 ----- ---- Gross Profit 681,549 21,609,300 26.1 20,990,188 2.9 ------- ---------- ---- ---------- --- Operating Expenses Selling Expenses (29,830) (944,499) -1.2 (937,885) 0.7 Administrative Expenses (115,578) (3,671,161) -4.4 (2,605,536) 40.9 Research and Development Expenses (117,936) (3,739,109) -4.5 (3,625,624) 3.1 ---- --- (263,344) (8,354,769) -10.1 (7,169,045) 16.5 -------- ---------- ----- ---------- ---- Operating Income 418,205 13,254,531 16.0 13,821,143 -4.1 Non-operating Items (86,873) (2,863,674) -3.4 447,041 - ------- ---------- ---- ------- --- Income Before Income Tax 331,332 10,390,857 12.6 14,268,184 -27.2 Income Tax Expenses (51,742) (1,628,600) -2.0 (2,523,770) -35.5 ------- ---------- ---- ---------- ----- Net Income 279,590 8,762,257 10.6 11,744,414 -25.4 ========== ======= ========= ==== ========== ===== Other comprehensive income Items that will not be reclassiflied to profit or loss Remeasurements of post employment benefit obligations (5,512) (179,842) (53,911) Income tax relating to items that will not be reclassified to profit or loss 937 30,572 9,165 Items that may be subsequently reclassified to profit or loss Exchange difference on translation of foreign financial statements (7,159) (227,905) 555,285 Unrealized gain (loss) on available-for-sale financial assets (19,808) (549,845) 2,948,369 Income tax relating to items that may be reclassified to profit or loss 691 20,967 51,938 --- ------ ------ Total other comprehensive income (30,851) (906,053) 3,510,846 ------- -------- --------- Total comprehensive income 248,739 7,856,204 15,255,260 ======= ========= ========== Earnings Per Ordinary Share- Basic NT$ 2.81 NT$ 3.77 ---------- ---------- Earnings Per Ordinary Share- Diluted NT$ 2.78 NT$ 3.74 ---------- ---------- Earnings Per ADS- Diluted US$ 0.44 US$ 0.62 ---------- ---------- Weighted Average Outstanding Shares - Diluted ('k) 3,150,135 3,139,471 --------- --------- Forex ( NT$ per US$ ) 31.361 30.29 ------ ----- (1) All figures are under T-IFRS. (2) 1 ADS is equivalent to 5 Common Shares. (3) Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, theimpact of newly effected GAAP shall be restroactively applied. The consolidated condensed Income Statement of Dec 31, 2014 have been updated accordingly.
SILICONWARE PRECISION INDUSTRIES CO., LTD. ---------------------------------------------- CONSOLIDATED STATEMENTS OF CASH FLOWS ----------------------------------------- For 12 Months Ended on Dec 31, 2015 and 2014 (Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) 12 months, 2015 12 months, 2014 --------------- --------------- USD NTD NTD --- --- --- Cash Flows from Operating Activities: ------------------------- Income before income tax 331,332 10,390,857 14,268,184 Depreciation 406,732 12,903,772 11,840,340 Amortization 19,245 610,213 595,475 Change in working capital & others 83,794 2,879,324 (1,758,826) ------ --------- ---------- Net cash flows provided from operating activities 841,103 26,784,166 24,945,173 ---------------------------- ------- ---------- ---------- Cash Flows from Investing Activities: ------------------------- Acquisition of property, plant, and equipment (436,256) (13,855,431) (19,560,740) Proceeds from disposal of available-for-sale financian assets - - 674,622 Proceeds from disposal of property, plant, and equipment 3,517 111,274 315,556 Increase of equity investment (73,561) (2,400,000) (63,818) Payment for other changes (14,050) (443,282) (608,423) ------- -------- -------- Net cash used in investing activities (520,350) (16,587,439) (19,242,803) -------------------------- -------- ----------- ----------- Cash Flows from Financing Activities: ------------------------- Proceeds from long-term loans 77,562 2,500,000 3,850,000 Repayment of long-term loans (261,535) (8,235,833) (3,178,166) Cash dividends distributed to shareholders (292,387) (9,349,083) (5,609,436) Proceeds from issue of convertible bonds - - 12,089,536 Others (368) (11,374) 140,246 Net cash (used in) provided from financing activities (476,728) (15,096,290) 7,292,180 --------------------------- -------- ----------- --------- Foreign currency exchange effect (2,003) (63,776) 184,916 ------ ------- ------- Net increase (decrease) in cash and cash equivalents (157,978) (4,963,339) 13,179,466 -------- ---------- ---------- Cash and cash equivalents at beginning of period 956,594 30,154,713 16,975,247 Cash and cash equivalents at end of period 798,616 25,191,374 30,154,713 ======= ========== ========== Forex ( NT$ per US$ ) 31.361 30.29 ------ ----- (1) All figures are under T- IFRS. (2) Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, the impact of newly effected GAAP shall be restroactively applied. The consolidated condensed Cash Flow Statement of Dec 31, 2014 have been updated accordingly.
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SOURCE Siliconware Precision Industries Co., Ltd.