TAICHUNG, Taiwan, April
26, 2017 /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 first
quarter of 2017 were NT$ 19,552
million, which represented a 11.8% decline in revenues
compared to the fourth quarter of 2016 and a 1.3% growth in
revenues compared to the first quarter of 2016. SPIL reported a net
income of NT$ 997 million for the
first quarter of 2017, compared with a net income of NT$ 2,829 million and a net income of
NT$ 1,604 million for the fourth
quarter of 2016 and the first quarter of 2016, respectively.
Basic earnings per share for this quarter was NT$ 0.32, and diluted earnings per ordinary share
was NT$ 0.15. Basic earnings per ADS
for this quarter was US$ 0.05, and
diluted earnings per ADS was US$
0.02.
All figures were prepared in accordance with T-IFRS on a
consolidated basis.
Operating results review:
- For the first quarter of 2017, net revenues from IC
packaging were NT$ 17,026 million and
represented 87% of total net revenues. Net revenues from testing
operations were NT$ 2,526 million and
represented 13% of total net revenues.
- Cost of goods sold was NT$ 15,795
million, representing a decline of 6.8% compared to the
fourth quarter of 2016 and an increase of 3.0% compared to the
first quarter of 2016.
-
- Raw materials costs were NT$ 6,725
million for the first quarter of 2017 and represented 34.4%
of total net revenues, whereas raw materials costs were
NT$ 7,413 million and represented
33.5% of total net revenues for the fourth quarter of
2016.
- The accrued expenses of bonuses to employees accounted
for under cost of goods sold totaled NT$ 91
million.
- Gross profit was NT$ 3,757
million for the first quarter of 2017, representing a gross
margin of 19.2%, which decreased from a gross margin of 23.6% for
the fourth quarter of 2016 and decreased from 20.6% for the first
quarter of 2016.
- Total operating expenses for the first quarter of 2017
were NT$ 2,017 million, which
included selling expenses of NT$ 248
million, administrative expenses of NT$ 804 million and R&D expenses of
NT$ 965 million. Total operating
expenses represented 10.3% of total net revenues for the first
quarter of 2017.
-
- The accrued expenses of bonuses to employees, directors
accounted for under operating expenses totaled NT$ 50 million.
- Operating income was NT$ 1,740
million for the first quarter of 2017, representing an
operating margin of 8.9%, which decreased from 13.7% for the fourth
quarter of 2016 and decreased from 9.8% for the first quarter of
2016.
- Non-operating items:
-
- Our non-operating expense was
NT$ 478 million, including
net foreign exchange losses of NT$ 313
million and net losses of NT$
113 million on fair value change of
financial liabilities at fair value through profit or
loss.
- Net income before tax was NT$
1,262 million for the first quarter of 2017, which decreased
from a net income before tax of NT$ 3,392
million for the fourth quarter of 2016 and decreased from a
net income before tax of NT$ 1,898
million for the first quarter of 2016.
- Income tax expense was NT$ 265
million for the first quarter of 2017, compared with income
tax expense of NT$ 563 million for
the fourth quarter of 2016 and income tax expense of NT$ 294 million for the first quarter of
2016.
- Net income was NT$ 997
million for the first quarter of 2017, which decreased from
a net income of NT$ 2,829 million for
the fourth quarter of 2016 and decreased from a net income of
NT$ 1,604 million for the first
quarter of 2016.
- Total number of shares outstanding was 3,116 million
shares as of Mar 31, 2017. Basic
earnings per share for this quarter was NT$
0.32, and diluted earnings per ordinary share was
NT$ 0.15. Basic earnings per ADS for
this quarter was US$ 0.05, and
diluted earnings per ADS was US$
0.02.
Capital expenditure and balance sheet
highlight:
- Our cash balances totaled NT$
23,611 million as of Mar 31,
2017 from NT$ 24,476 million
as of Dec 31, 2016, and NT$ 25,406 million as of Mar 31, 2016.
- Capital expenditures for the first quarter of 2017
totaled NT$ 3,337
million.
- Total depreciation expenses for the first quarter of 2017
totaled NT$ 3,392
million.
IC packaging service:
- Net revenues from IC packaging operations were
NT$ 17,026 million for the first
quarter of 2017, which represented a decrease of NT$ 2,380 million or 12.3% compared to the fourth
quarter of 2016.
- Substrate-based packaging, leadframe-based packaging and
wafer bumping & Flip Chip accounted for 28%, 17% and 42%,
respectively, of total net revenues for the first quarter of
2017.
- As of Mar 31, 2017 we had
8,248 wirebonders installed, of which 410 were added and 158 were
disposed in the first quarter of 2017.
IC testing service:
- Net revenues from testing operations were NT$ 2,526 million for the first quarter of 2017,
which represented a decrease of NT$ 246
million or 8.9% compared to the fourth quarter of
2016.
- As of Mar 31, 2017 we had
549 testers installed, of which 5 were added and 10 were disposed
in the first quarter of 2017.
For more information, please
visit:
https://photos.prnasia.com/prnk/20170426/1835036-1
Revenue Analysis
- Breakdown by end applications:
By application
|
1Q17
|
4Q16
|
Communication
|
70%
|
69%
|
Computing
|
11%
|
12%
|
Consumer
|
17%
|
17%
|
Memory
|
2%
|
2%
|
- Breakdown by packaging type:
By application
|
1Q17
|
4Q16
|
Bumping & Flip Chip
|
42%
|
42%
|
Substrate Based
|
28%
|
29%
|
Leadframe Based
|
17%
|
17%
|
Testing
|
13%
|
12%
|
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 Mar 31, 2017 reflect our gains or losses
attributable to the first quarter of 2017 unaudited financial
results of several of our investees which are evaluated under the
equity method. The consolidated financial data for our company for
the three months ended Mar 31, 2017
is not necessarily indicative of the results that may be expected
for any period thereafter.
Contact:
Siliconware Precision Industries Co., Ltd.
No. 123, Sec. 3, Da Fong Rd., Tantzu,
Taichung , Taiwan 42749
www.spil.com.tw
Eva Chen, VP of Finance
Div.
SPILIR@spil.com.tw
+886-4-25341525 #1536
Byron Chiang,
Spokesperson
Spokesperson@spil.com.tw
+886-3-5795678 #3676
SILICONWARE
PRECISION INDUSTRIES CO., LTD.
|
CONSOLIDATED
BALANCE SHEET (UNAUDITED)
|
As of Mar 31, 2017
and 2016
|
(Expressed in
Thousands of New Taiwan Dollars (NTD) and U.S. Dollars
(USD))
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar
31,2017
|
|
Mar
31,2016
|
|
Sequential
|
ASSETS
|
|
USD
|
|
NTD
|
%
|
|
NTD
|
%
|
|
Change
|
%
|
Current
Assets
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalent
|
|
778,476
|
|
23,611,168
|
19
|
|
25,405,633
|
21
|
|
(1,794,465)
|
-7.1
|
Accounts
receivable
|
|
512,133
|
|
15,532,994
|
13
|
|
14,536,059
|
12
|
|
996,935
|
6.9
|
Inventories
|
|
224,929
|
|
6,822,101
|
6
|
|
5,678,642
|
5
|
|
1,143,459
|
20.1
|
Other current
assets
|
|
51,576
|
|
1,564,299
|
1
|
|
1,309,843
|
0
|
|
254,456
|
19.4
|
Total current
assets
|
|
1,567,114
|
|
47,530,562
|
39
|
|
46,930,177
|
38
|
|
600,385
|
1.3
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current
Assets
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-sale
financial assets
|
|
139,473
|
|
4,230,202
|
3
|
|
5,789,763
|
5
|
|
(1,559,561)
|
-26.9
|
Long-term investment
under equity method
|
|
87,164
|
|
2,643,697
|
2
|
|
2,588,192
|
2
|
|
55,505
|
2.1
|
Property, plant and
equipment
|
|
2,174,813
|
|
65,962,091
|
54
|
|
65,356,521
|
53
|
|
605,570
|
0.9
|
Intangible
assets
|
|
5,157
|
|
156,410
|
-
|
|
188,564
|
-
|
|
(32,154)
|
-17.1
|
Other
assets
|
|
58,645
|
|
1,778,699
|
2
|
|
2,002,068
|
2
|
|
(223,369)
|
-11.2
|
Total non-current
assets
|
|
2,465,252
|
|
74,771,099
|
61
|
|
75,925,108
|
62
|
|
(1,154,009)
|
-1.5
|
Total
Assets
|
|
4,032,366
|
|
122,301,661
|
100
|
|
122,855,285
|
100
|
|
(553,624)
|
-0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
Short-term
loans
|
|
85,000
|
|
2,578,050
|
2
|
|
2,735,725
|
2
|
|
(157,675)
|
-5.8
|
Financial liabilities
at fair value through
profit or loss - current
|
|
29,248
|
|
887,096
|
1
|
|
1,637,538
|
1
|
|
(750,442)
|
-45.8
|
Accounts
payable
|
|
242,881
|
|
7,366,573
|
6
|
|
7,077,693
|
6
|
|
288,880
|
4.1
|
Current portion of
bonds payable
|
|
396,603
|
|
12,028,976
|
10
|
|
-
|
-
|
|
12,028,976
|
-
|
Current portion of
long-term debt
|
|
70,299
|
|
2,132,167
|
2
|
|
5,913,739
|
5
|
|
(3,781,572)
|
-63.9
|
Other current
liability
|
|
428,438
|
|
12,994,547
|
10
|
|
13,119,194
|
11
|
|
(124,647)
|
-1.0
|
Non-current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
Bonds
payable
|
|
-
|
|
-
|
-
|
|
12,457,882
|
10
|
|
(12,457,882)
|
-100.0
|
Long-term
loans
|
|
505,770
|
|
15,340,000
|
13
|
|
5,969,625
|
5
|
|
9,370,375
|
157.0
|
Other
liabilities
|
|
52,106
|
|
1,580,368
|
1
|
|
1,535,385
|
1
|
|
44,983
|
2.9
|
Total
Liabilities
|
|
1,810,345
|
|
54,907,777
|
45
|
|
50,446,781
|
41
|
|
4,460,996
|
8.8
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
Equity
|
|
|
|
|
|
|
|
|
|
|
|
Capital
stock
|
|
1,027,485
|
|
31,163,611
|
26
|
|
31,163,611
|
25
|
|
-
|
-
|
Capital
reserve
|
|
416,815
|
|
12,641,997
|
10
|
|
15,758,358
|
13
|
|
(3,116,361)
|
-19.8
|
Legal
reserve
|
|
357,534
|
|
10,844,001
|
9
|
|
9,967,775
|
8
|
|
876,226
|
8.8
|
Retained
earnings
|
|
370,880
|
|
11,248,800
|
9
|
|
11,525,181
|
10
|
|
(276,381)
|
-2.4
|
Other
equities
|
|
49,307
|
|
1,495,475
|
1
|
|
3,993,579
|
3
|
|
(2,498,104)
|
-62.6
|
Total
Equity
|
|
2,222,021
|
|
67,393,884
|
55
|
|
72,408,504
|
59
|
|
(5,014,620)
|
-6.9
|
Total Liabilities
& Shareholders' Equity
|
|
4,032,366
|
|
122,301,661
|
100
|
|
122,855,285
|
100
|
|
(553,624)
|
-0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
Forex ( NT$ per
US$ )
|
|
|
|
30.330
|
|
|
32.185
|
|
|
|
|
(1)All figures are
under T-IFRS.
|
|
SILICONWARE
PRECISION INDUSTRIES CO., LTD.
|
CONSOLIDATED
COMPREHENSIVE INCOME STATEMENT (UNAUDITED)
|
|
(Expressed in
Thousands of New Taiwan Dollars (NTD) and U.S. Dollars
(USD))
|
|
|
3 months ended on Mar
31
|
|
Sequential
Comparison
|
|
|
1Q 2017
|
|
1Q 2016
|
|
YoY
|
|
1Q 2017
|
|
4Q 2016
|
|
QoQ
|
|
|
USD
|
|
NTD
|
%
|
|
NTD
|
|
change %
|
|
NTD
|
|
NTD
|
|
change %
|
Revenues
|
|
628,769
|
|
19,551,585
|
100.0
|
|
19,299,310
|
|
1.3
|
|
19,551,585
|
|
22,177,508
|
|
-11.8
|
Cost of Goods
Sold
|
|
(507,954)
|
|
(15,794,850)
|
-80.8
|
|
(15,329,416)
|
|
3.0
|
|
(15,794,850)
|
|
(16,949,723)
|
|
-6.8
|
Gross
Profit
|
|
120,815
|
|
3,756,735
|
19.2
|
|
3,969,894
|
|
-5.4
|
|
3,756,735
|
|
5,227,785
|
|
-28.1
|
Operating
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling
Expenses
|
|
(7,988)
|
|
(248,387)
|
-1.3
|
|
(243,323)
|
|
2.1
|
|
(248,387)
|
|
(282,984)
|
|
-12.2
|
Administrative
Expenses
|
|
(25,842)
|
|
(803,559)
|
-4.1
|
|
(918,957)
|
|
-12.6
|
|
(803,559)
|
|
(873,787)
|
|
-8.0
|
Research and
Development Expenses
|
|
(31,039)
|
|
(965,152)
|
-4.9
|
|
(919,405)
|
|
5.0
|
|
(965,152)
|
|
(1,029,466)
|
|
-6.2
|
|
|
(64,869)
|
|
(2,017,098)
|
-10.3
|
|
(2,081,685)
|
|
-3.1
|
|
(2,017,098)
|
|
(2,186,237)
|
|
-7.7
|
Operating
Income
|
|
55,946
|
|
1,739,637
|
8.9
|
|
1,888,209
|
|
-7.9
|
|
1,739,637
|
|
3,041,548
|
|
-42.8
|
Non-operating
Items
|
|
(15,375)
|
|
(478,088)
|
-2.4
|
|
10,032
|
|
-
|
|
(478,088)
|
|
350,651
|
|
-
|
Income Before Income
Tax
|
|
40,571
|
|
1,261,549
|
6.5
|
|
1,898,241
|
|
-33.5
|
|
1,261,549
|
|
3,392,199
|
|
-62.8
|
Income Tax
Expenses
|
|
(8,523)
|
|
(265,025)
|
-1.4
|
|
(294,213)
|
|
-9.9
|
|
(265,025)
|
|
(563,300)
|
|
-53.0
|
Net
Income
|
|
32,048
|
|
996,524
|
5.1
|
|
1,604,028
|
|
-37.9
|
|
996,524
|
|
2,828,899
|
|
-64.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Items that will
not be reclassiflied to profit or loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remeasurements of post
employment benefit obligations
|
|
-
|
|
-
|
|
|
-
|
|
|
|
|
|
(
177,806)
|
|
|
Income tax relating to items
that will not be reclassified
to profit or
loss
|
|
-
|
|
-
|
|
|
-
|
|
|
|
|
|
30,227
|
|
|
Items that may be
subsequently reclassified to profit or loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange difference on translation of foreign financial
statements
|
|
(19,309)
|
|
(600,408)
|
|
|
(166,438)
|
|
|
|
|
|
(48,053)
|
|
|
Unrealized gain(loss) on available-for-sale financial
assets
|
|
18,015
|
|
560,170
|
|
|
263,352
|
|
|
|
|
|
(822,053)
|
|
|
Share of other comprehensive income of associates
|
|
8,277
|
|
257,367
|
|
|
85,238
|
|
|
|
|
|
(52,254)
|
|
|
Income tax relating to items that may be reclassified to profit or
loss
|
|
(228)
|
|
(7,089)
|
|
|
21,682
|
|
|
|
|
|
143,671
|
|
|
Total other
comprehensive income (loss)
|
|
6,755
|
|
210,040
|
|
|
203,834
|
|
|
|
|
|
(926,268)
|
|
|
Total
comprehensive income
|
|
38,803
|
|
1,206,564
|
|
|
1,807,862
|
|
|
|
|
|
1,902,631
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Ordinary
Share- Basic
|
|
|
|
NT$
0.32
|
|
|
NT$
0.51
|
|
|
|
|
|
NT$
0.91
|
|
|
Earnings Per Ordinary
Share- Diluted
|
|
|
|
NT$
0.15
|
|
|
NT$
0.39
|
|
|
|
|
|
NT$
0.89
|
|
|
Earnings Per ADS-
Basic
|
|
|
|
US$
0.05
|
|
|
US$ 0.08
|
|
|
|
|
|
US$
0.14
|
|
|
Earnings Per ADS-
Diluted
|
|
|
|
US$
0.02
|
|
|
US$ 0.06
|
|
|
|
|
|
US$
0.14
|
|
|
Weighted Average
Outstanding Shares - Diluted ('k)
|
|
|
|
3,400,463
|
|
|
3,375,688
|
|
|
|
|
|
3,389,863
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forex ( NT$ per US$
)
|
|
|
|
31.095
|
|
|
33.143
|
|
|
|
|
|
31.767
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) All figures are
under T-IFRS.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) 1 ADS is
equivalent to 5 Common Shares.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SILICONWARE
PRECISION INDUSTRIES CO., LTD.
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(UNAUDITED)
|
For 3 Months Ended
on Mar 31, 2017 and 2016
|
(Expressed in
Thousands of New Taiwan Dollars (NTD) and U.S. Dollars
(USD))
|
|
|
|
|
|
|
|
|
|
3 months,
2017
|
|
3 months,
2016
|
|
|
USD
|
|
NTD
|
|
NTD
|
Cash Flows from
Operating Activities:
|
|
|
|
|
|
|
Income
before income tax
|
|
40,571
|
|
1,261,549
|
|
1,898,241
|
Depreciation
|
|
109,099
|
|
3,392,422
|
|
3,185,853
|
Amortization
|
|
2,219
|
|
69,005
|
|
114,757
|
Change
in working capital & others
|
|
(57,185)
|
|
(1,778,145)
|
|
(830,631)
|
Net cash flows
provided from operating activities
|
|
94,704
|
|
2,944,831
|
|
4,368,220
|
|
|
|
|
|
|
|
Cash Flows from
Investing Activities:
|
|
|
|
|
|
|
Acquisition of property, plant, and equipment
|
|
(107,300)
|
|
(3,336,501)
|
|
(3,080,482)
|
Proceeds
from disposal of available-for-sale financial assets
|
|
-
|
|
-
|
|
1,077,460
|
Proceeds
from disposal of property, plant, and equipment
|
|
13,429
|
|
417,578
|
|
28,092
|
Payment
for other changes
|
|
2,796
|
|
86,938
|
|
(197,790)
|
Net cash used in
investing activities
|
|
(91,075)
|
|
(2,831,985)
|
|
(2,172,720)
|
|
|
|
|
|
|
|
Cash Flows from
Financing Activities:
|
|
|
|
|
|
|
Proceeds
from long-term loans
|
|
32,160
|
|
1,000,000
|
|
-
|
Repayment of long-term loans
|
|
(57,253)
|
|
(1,780,279)
|
|
(1,781,583)
|
Others
|
|
(61)
|
|
(1,870)
|
|
(101,819)
|
Net cash used in
financing activities
|
|
(25,154)
|
|
(782,149)
|
|
(1,883,402)
|
|
|
|
|
|
|
|
Foreign currency
exchange effect
|
|
(6,297)
|
|
(195,799)
|
|
(97,839)
|
Net insrease
(decrease) in cash and cash equivalents
|
|
(27,822)
|
|
(865,102)
|
|
214,259
|
Cash and cash
equivalents at beginning of period
|
|
787,145
|
|
24,476,270
|
|
25,191,374
|
Cash and cash
equivalents at end of period
|
|
759,323
|
|
23,611,168
|
|
25,405,633
|
|
|
|
|
-
|
|
-
|
Forex ( NT$ per
US$ )
|
|
|
|
31.095
|
|
33.143
|
|
|
|
|
|
|
|
(1) : All figures are
under T-IFRS.
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/siliconware-precision-industries-reports-unaudited-consolidated-financial-results-for-the-first-quarter-of-2017-300445984.html
SOURCE Siliconware Precision Industries Co., Ltd.