MIRA INFORM REPORT
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Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ACBEL POLYTECH INC. |
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Registered Office : |
No.159, Sec. 3, Tam-King Road, Danshuei Township, Taipei County |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.08.1981 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Manufacture of power supplies |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Taiwan |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
AcBel Polytech Inc.
No.159, Sec. 3, Tam-King Road
Danshuei Township, Taipei County,
Taiwan
Tel: 886-2-26217672
Fax: 886-2-86318064
Web: www.acbel.com
synthesis
Employees: 11,327
Company Type: Public Parent
Corporate Family: 3
Companies
Traded: Taiwan
Stock Exchange: 6282
Incorporation Date:
31-Aug-1981
Auditor: KPMG LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency:
Taiwanese New Dollar
Annual Sales: 701.0
1
Net Income: 30.9
Total Assets:
502.3 2
Market Value: 229.0
(14-Oct-2011)
Business Description
AcBel Polytech
Inc. is principally engaged in the manufacture of power supplies. The Company's
major products include desktop computer power supplies, server power supplies,
storage device power supply products, rectifiers for communications, adapters,
liquid crystal display (LCD) television (TV) power supplies, wireless
communication base power supplies, voltage regulator modules (VRMs) and power
line communication (PLC) modems, among others. During the year ended December
31, 2010, the Company obtained 98.65% of its total sale from its power
supplies. The Company distributes its products within domestic market, as well
as overseas markets, including the rest of Asia, the Americas and Europe. For
the fiscal year ended 31 December 2010, AcBel Polytech Inc.'s sales increased
24% to NT$22.08B. The Company's net income for the period dropped 6% to
NT$971.9M. Sales reflect a growth in sales due to strong market demand. Net
income for the period was offset by increased administrative expense, interest
expense and impairment loss on assets, as well as the presence of equity
investment loss.
Industry
Industry Electronic Instruments and Controls
ANZSIC 2006: 2439 - Other
Electrical Equipment Manufacturing
NACE 2002: 3162 - Manufacture
of other electrical equipment not elsewhere classified
NAICS 2002: 335999 - All Other
Miscellaneous Electrical Equipment and Component Manufacturing
UK SIC 2003: 3162 - Manufacture
of other electrical equipment not elsewhere classified
US SIC 1987: 3629 - Electrical
Industrial Apparatus, Not Elsewhere Classified
Key Executives
Name Title
Jinmao Ye Finance
Director, Head of Accounting
Hefei Wang Deputy
General Manager
David C.S. Kao General
Manager
Flora Shiao Senior
Manager
Shengxiong Xu Chairman
of the Board
Significant Developments
Topic #* Most Recent Headline Date
Dividends 2 AcBel Polytech Inc. Adjusts FY 2010
Dividend Payment 4-Aug-2011
* number of significant developments within the last 12 months
News
Title Date
Acbel Polytech Assigned Patent
U.S. Fed News (215 Words) 26-Oct-2011
Financial Summary
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = TWD 31.49704
2 - Balance Sheet Item Exchange Rate: USD 1 = TWD 29.1565
Corporate Overview
Location
No.159, Sec. 3, Tam-King Road
Danshuei Township, Taipei County, Taiwan
Tel: 886-2-26217672
Fax: 886-2-86318064
Web: www.acbel.com
Quote Symbol - Exchange
6282 - Taiwan
Stock Exchange
Sales TWD(mil): 22,079.5
Assets TWD(mil): 14,644.4
Employees: 11,327
Fiscal Year End: 31-Dec-2010
Industry: Electronic
Instruments and Controls
Incorporation Date: 31-Aug-1981
Company Type: Public
Parent
Quoted Status: Quoted
Managing Director: Zesheng
Liu
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Employment Opportunities
· Home Page
· Investor Relations
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2439 - Other Electrical Equipment Manufacturing
NACE 2002 Codes:
3162 - Manufacture of other electrical equipment not elsewhere
classified
3120 - Manufacture of electricity distribution and control
apparatus
NAICS 2002 Codes:
335313 - Switchgear and Switchboard Apparatus Manufacturing
335999 - All Other Miscellaneous Electrical Equipment and Component
Manufacturing
US SIC 1987:
3613 - Switchgear and Switchboard Apparatus
3629 - Electrical Industrial Apparatus, Not Elsewhere Classified
UK SIC 2003:
3120 - Manufacture of electricity distribution and control
apparatus
3162 - Manufacture of other electrical equipment not elsewhere
classified
Business
Description
AcBel Polytech
Inc. is principally engaged in the manufacture of power supplies. The Company's
major products include desktop computer power supplies, server power supplies,
storage device power supply products, rectifiers for communications, adapters,
liquid crystal display (LCD) television (TV) power supplies, wireless
communication base power supplies, voltage regulator modules (VRMs) and power
line communication (PLC) modems, among others. During the year ended December
31, 2010, the Company obtained 98.65% of its total sale from its power
supplies. The Company distributes its products within domestic market, as well
as overseas markets, including the rest of Asia, the Americas and Europe. For
the fiscal year ended 31 December 2010, AcBel Polytech Inc.'s sales increased
24% to NT$22.08B. The Company's net income for the period dropped 6% to
NT$971.9M. Sales reflect a growth in sales due to strong market demand. Net
income for the period was offset by increased administrative expense, interest
expense and impairment loss on assets, as well as the presence of equity
investment loss.
More Business
Descriptions
Manufacture of power suply products including DC DC converters,
adapters, PC power supplies and telecom power supplies
All Other Electrical Equipment and Component Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Danshuei Township, Taipei County |
Taiwan |
Electronic Instruments and Controls |
701.0 |
11,327 |
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Subsidiary |
Taipei City, Taipei City |
Taiwan |
Electronic Instruments and Controls |
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100 |
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Branch |
Guand Dong Province |
China |
Electronic Instruments and Controls |
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Executive report
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Board of Directors |
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Chairman |
Chairman |
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Chairman of the Board |
Chairman |
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General Manager, Director |
Director/Board Member |
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Managing Director |
Director/Board Member |
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Director |
Director/Board Member |
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Senior Deputy General
Manager, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Senior Deputy General Manager, Director |
Director/Board Member |
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Executives |
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General Manager |
Chief Executive Officer |
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General Manager, Director |
Division Head Executive |
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Managing Director |
Managing Director |
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Finance Director, Head of Accounting |
Finance Executive |
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Senior Manager |
Other |
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Deputy General Manager |
Other |
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Significant Developments
AcBel Polytech Inc. Adjusts FY 2010 Dividend Payment Aug 04, 2011
AcBel Polytech Inc. announced that it has adjusted its cash dividend for fiscal year 2010 from NTD 1.30 per share to NTD 1.29883080 per share.
AcBel Polytech Inc. Announces FY 2010 Dividend Payment Date Jun 29, 2011
AcBel Polytech Inc. announced that it will pay cash dividends of NTD 659,972,684 (NTD 1.3 per share) to shareholders of record on August 29, 2011. The Company's shares will be traded ex-dividend on August 23, 2011.
Press clippings
Acbel Polytech
Assigned Patent
U.S. Fed News
26 October 2011
[What follows is
the full text of the news story.]
By US Fed News
ALEXANDRIA, Va., Oct. 26 -- Acbel Polytech, New Taipei City, Taiwan, has been assigned a patent (8,046,603) developed by Shiann-Chang Yeh, Taipei Hsien, Taiwan, for a "network real-time electricity monitoring system."
The abstract of the patent published by the U.S. Patent and Trademark Office states: "A network real-time electricity monitoring system has at least one power line communicating and AC power monitoring device, a power line network device and a monitoring computer. The power line communicating and AC power monitoring device is connected to a power line of a corresponding target device to retrieve and transform statuses of an AC power in the power line into network packets and sends the network packets out through the power line. The power line network device is connected to the power line to retrieve the network packets and sends the network packets to a local monitoring computer or a remote monitoring computer based on Internet protocol address of the monitoring computer installed in the power line network device."
Related Companies
AcBel Polytech Inc. [profile]
Related Topics
Finance & Accounting Standards
Joint Ventures/Partnerships
Patents
Related
Geographies
Asia
North America
Taiwan, Province of China
United States
Virginia
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Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
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Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
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Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
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Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
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Gross Sale |
706.6 |
540.3 |
587.7 |
437.2 |
404.8 |
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Sales Returns and Allowances |
-5.6 |
-2.0 |
-6.7 |
-2.6 |
-5.7 |
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Sale |
701.0 |
538.3 |
581.0 |
434.6 |
399.1 |
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Total Sale |
701.0 |
538.3 |
581.0 |
434.6 |
399.1 |
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Cost of Sale |
596.2 |
443.8 |
482.2 |
362.1 |
370.0 |
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Cost of Sale, Total |
596.2 |
443.8 |
482.2 |
362.1 |
370.0 |
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Gross Profit |
104.8 |
94.5 |
98.7 |
72.4 |
29.1 |
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Selling/General/Administrative
Expense |
49.8 |
41.7 |
40.6 |
33.4 |
46.1 |
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Total Selling/General/Administrative Expenses |
49.8 |
41.7 |
40.6 |
33.4 |
46.1 |
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Research & Development |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
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Impairment-Assets Held for Use |
2.0 |
1.7 |
1.1 |
- |
0.2 |
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Unusual Expense (Income) |
2.0 |
1.7 |
1.1 |
- |
0.2 |
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Total Operating Expense |
675.6 |
509.4 |
545.6 |
415.6 |
438.2 |
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Operating Income |
25.4 |
28.9 |
35.4 |
19.0 |
-39.1 |
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Interest
Expense - Non-Operating |
-0.1 |
0.0 |
-0.3 |
-0.3 |
-0.2 |
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Interest Expense, Net
Non-Operating |
-0.1 |
0.0 |
-0.3 |
-0.3 |
-0.2 |
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Interest
Income - Non-Operating |
2.7 |
1.4 |
1.1 |
1.2 |
2.2 |
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Investment
Income - Non-Operating |
9.4 |
8.5 |
0.0 |
0.8 |
1.8 |
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Interest/Investment Income -
Non-Operating |
12.0 |
9.8 |
1.1 |
2.1 |
4.1 |
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Interest Income (Expense) - Net Non-Operating Total |
11.9 |
9.8 |
0.7 |
1.8 |
3.9 |
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Other Non-Operating Income
(Expense) |
0.8 |
0.1 |
-0.4 |
3.3 |
2.0 |
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Other, Net |
0.8 |
0.1 |
-0.4 |
3.3 |
2.0 |
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Income Before Tax |
38.1 |
38.9 |
35.7 |
24.1 |
-33.3 |
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Total Income Tax |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
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Income After Tax |
31.4 |
32.6 |
29.2 |
22.0 |
-32.8 |
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Minority Interest |
-0.6 |
-1.2 |
-0.5 |
0.0 |
0.4 |
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Net Income Before Extraord Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
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Accounting Change |
- |
- |
- |
- |
0.2 |
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Total Extraord Items |
- |
- |
- |
- |
0.2 |
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Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
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Income Available to Common Excl Extraord Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
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Income Available to Common Incl Extraord Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
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Basic/Primary Weighted Average Shares |
501.0 |
496.4 |
495.5 |
475.4 |
484.1 |
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Basic EPS Excl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
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Basic/Primary EPS Incl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
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Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
0.0 |
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Diluted Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
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Diluted Weighted Average Shares |
511.9 |
508.5 |
500.1 |
487.2 |
484.1 |
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Diluted EPS Excl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
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Diluted EPS Incl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
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Dividends per Share - Common Stock Primary Issue |
0.04 |
0.05 |
0.05 |
0.03 |
0.00 |
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Gross Dividends - Common Stock |
21.0 |
25.0 |
23.4 |
14.6 |
0.0 |
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Interest Expense, Supplemental |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
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Depreciation, Supplemental |
9.6 |
8.8 |
8.1 |
7.8 |
6.9 |
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Total Special Items |
2.0 |
1.7 |
1.1 |
- |
0.2 |
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Normalized Income Before Tax |
40.1 |
40.6 |
36.8 |
24.1 |
-33.0 |
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|
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|
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Effect of Special Items on Income Taxes |
0.4 |
0.3 |
0.2 |
- |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
7.0 |
6.5 |
6.7 |
2.1 |
-0.4 |
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Normalized Income After Tax |
33.1 |
34.0 |
30.2 |
22.0 |
-32.6 |
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Normalized Inc. Avail to Com. |
32.5 |
32.9 |
29.6 |
22.0 |
-32.2 |
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Basic Normalized EPS |
0.06 |
0.07 |
0.06 |
0.05 |
-0.07 |
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Diluted Normalized EPS |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Amort of Intangibles, Supplemental |
6.2 |
5.8 |
4.2 |
2.5 |
- |
|
Research & Development Exp, Supplemental |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
|
Normalized EBIT |
27.4 |
30.6 |
36.5 |
19.0 |
-38.9 |
|
Normalized EBITDA |
43.3 |
45.3 |
48.8 |
29.3 |
-31.9 |
|
Current Tax - Total |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Current Tax - Total |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Deferred Tax - Total |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Deferred Tax - Total |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Income Tax - Total |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
|
Interest Cost - Domestic |
0.3 |
0.4 |
0.3 |
0.3 |
0.4 |
|
Service Cost - Domestic |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Expected Return on Assets - Domestic |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
|
Transition Costs - Domestic |
0.4 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Domestic Pension Plan Expense |
0.9 |
0.8 |
0.8 |
0.7 |
0.6 |
|
Defined Contribution Expense - Domestic |
0.9 |
0.8 |
0.7 |
- |
- |
|
Total Pension Expense |
1.8 |
1.6 |
1.5 |
0.7 |
0.6 |
|
Discount Rate - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Compensation Rate - Domestic |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
0.3 |
0.4 |
0.3 |
0.3 |
0.4 |
|
Total Plan Service Cost |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Total Plan Expected Return |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
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Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
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Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
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Cash & Equivalents |
55.2 |
48.3 |
49.0 |
31.7 |
40.9 |
|
Short Term Investments |
35.1 |
28.6 |
37.7 |
47.7 |
44.5 |
|
Cash and Short Term Investments |
90.3 |
76.9 |
86.7 |
79.4 |
85.4 |
|
Accounts
Receivable - Trade, Gross |
137.3 |
131.5 |
109.8 |
108.9 |
78.3 |
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Provision
for Doubtful Accounts |
-0.6 |
-1.3 |
-1.2 |
-0.7 |
-0.7 |
|
Trade Accounts Receivable - Net |
155.8 |
140.1 |
125.4 |
116.8 |
82.7 |
|
Notes Receivable - Short Term |
0.1 |
4.9 |
1.2 |
1.0 |
0.2 |
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Total Receivables, Net |
155.9 |
145.0 |
126.6 |
117.9 |
83.0 |
|
Inventories - Finished Goods |
40.2 |
26.7 |
20.8 |
54.6 |
47.7 |
|
Inventories - Work In Progress |
9.4 |
2.2 |
2.4 |
2.1 |
2.1 |
|
Inventories - Raw Materials |
45.0 |
32.7 |
34.5 |
41.7 |
26.9 |
|
Inventories - Other |
- |
- |
- |
-32.6 |
-38.1 |
|
Total Inventory |
94.5 |
61.7 |
57.7 |
65.8 |
38.5 |
|
Restricted Cash - Current |
0.0 |
0.6 |
0.0 |
- |
- |
|
Deferred Income Tax - Current
Asset |
5.9 |
5.6 |
7.7 |
7.7 |
8.3 |
|
Other Current Assets, Total |
5.9 |
6.2 |
7.7 |
7.7 |
8.3 |
|
Total Current Assets |
346.6 |
289.8 |
278.6 |
270.8 |
215.1 |
|
|
|
|
|
|
|
|
Buildings |
65.9 |
61.3 |
60.0 |
56.5 |
41.4 |
|
Land/Improvements |
23.9 |
21.8 |
21.3 |
21.6 |
21.4 |
|
Machinery/Equipment |
94.5 |
75.6 |
65.8 |
65.7 |
55.6 |
|
Construction
in Progress |
6.1 |
0.3 |
1.9 |
1.6 |
8.9 |
|
Property/Plant/Equipment - Gross |
190.4 |
159.0 |
149.0 |
145.4 |
127.3 |
|
Accumulated Depreciation |
-84.0 |
-69.4 |
-60.7 |
-59.7 |
-46.9 |
|
Property/Plant/Equipment - Net |
106.4 |
89.6 |
88.3 |
85.8 |
80.4 |
|
Intangibles, Net |
6.8 |
4.8 |
4.9 |
5.1 |
5.7 |
|
LT Investment - Affiliate
Companies |
0.4 |
0.5 |
0.4 |
1.8 |
- |
|
LT Investments - Other |
35.5 |
31.7 |
1.7 |
0.0 |
0.0 |
|
Long Term Investments |
35.8 |
32.2 |
2.2 |
1.8 |
0.0 |
|
Deferred Charges |
6.4 |
6.9 |
7.8 |
7.5 |
6.9 |
|
Pension Benefits - Overfunded |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Other Long Term Assets, Total |
6.5 |
7.0 |
7.9 |
7.7 |
7.1 |
|
Total Assets |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
140.8 |
126.1 |
97.6 |
103.5 |
82.9 |
|
Accrued Expenses |
47.8 |
36.3 |
33.1 |
26.8 |
27.7 |
|
Notes Payable/Short Term Debt |
18.6 |
0.1 |
1.0 |
18.7 |
13.2 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
- |
3.0 |
|
Other Current Liabilities |
15.8 |
9.5 |
17.8 |
6.2 |
2.3 |
|
Other Current liabilities, Total |
15.8 |
9.5 |
17.8 |
6.2 |
2.3 |
|
Total Current Liabilities |
223.1 |
172.1 |
149.5 |
155.2 |
129.1 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
18.6 |
0.1 |
1.0 |
18.7 |
16.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
8.0 |
8.3 |
6.3 |
4.9 |
3.9 |
|
Deferred Income Tax |
8.0 |
8.3 |
6.3 |
4.9 |
3.9 |
|
Minority Interest |
12.8 |
12.2 |
11.0 |
9.9 |
9.2 |
|
Pension Benefits - Underfunded |
9.3 |
7.2 |
6.1 |
6.4 |
5.5 |
|
Other Liabilities, Total |
9.3 |
7.2 |
6.1 |
6.4 |
5.5 |
|
Total Liabilities |
253.1 |
199.7 |
172.9 |
176.4 |
147.7 |
|
|
|
|
|
|
|
|
Common Stock |
173.3 |
156.3 |
150.2 |
148.3 |
146.2 |
|
Common Stock |
173.3 |
156.3 |
150.2 |
148.3 |
146.2 |
|
Additional Paid-In Capital |
27.5 |
24.4 |
23.1 |
23.4 |
31.3 |
|
Retained Earnings (Accumulated Deficit) |
48.8 |
39.9 |
30.6 |
22.3 |
-9.9 |
|
Treasury Stock - Common |
- |
- |
- |
- |
-5.8 |
|
Translation Adjustment |
4.0 |
6.1 |
7.6 |
3.8 |
1.4 |
|
Minimum Pension Liability
Adjustment |
-4.5 |
-3.1 |
-2.5 |
-3.0 |
-2.5 |
|
Other Equity, Total |
-0.5 |
2.9 |
5.1 |
0.8 |
-1.1 |
|
Total Equity |
249.1 |
223.7 |
209.0 |
194.8 |
160.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
Total Common Shares Outstanding |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
- |
18.7 |
|
Employees |
9,263 |
8,448 |
7,043 |
7,729 |
6,750 |
|
Number of Common Shareholders |
34,481 |
35,833 |
17,161 |
15,153 |
13,632 |
|
Pension Obligation - Domestic |
17.0 |
13.5 |
11.6 |
9.4 |
10.9 |
|
Plan Assets - Domestic |
3.7 |
3.1 |
2.8 |
1.6 |
3.9 |
|
Funded Status - Domestic |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Accumulated Obligation - Domestic |
12.0 |
9.4 |
7.9 |
8.0 |
8.5 |
|
Total Funded Status |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Discount Rate - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Compensation Rate - Domestic |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Accrued Liabilities - Domestic |
-9.3 |
-7.2 |
-6.1 |
-6.4 |
-5.5 |
|
Net Assets Recognized on Balance Sheet |
-9.2 |
-7.1 |
-6.0 |
-6.2 |
-5.4 |
|
Total Plan Obligations |
17.0 |
13.5 |
11.6 |
9.4 |
10.9 |
|
Total Plan Assets |
3.7 |
3.1 |
2.8 |
1.6 |
3.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
31.4 |
32.6 |
29.2 |
22.0 |
-32.6 |
|
Depreciation |
15.9 |
14.7 |
12.3 |
10.4 |
11.6 |
|
Depreciation/Depletion |
15.9 |
14.7 |
12.3 |
10.4 |
11.6 |
|
Deferred Taxes |
-1.1 |
3.0 |
- |
- |
- |
|
Unusual Items |
1.4 |
1.7 |
1.1 |
- |
44.7 |
|
Equity in Net Earnings (Loss) |
0.1 |
0.0 |
1.4 |
0.6 |
- |
|
Other Non-Cash Items |
0.1 |
-0.4 |
1.4 |
1.3 |
35.3 |
|
Non-Cash Items |
1.6 |
1.3 |
3.9 |
1.9 |
80.0 |
|
Accounts Receivable |
3.0 |
-14.7 |
-10.5 |
-34.1 |
10.5 |
|
Inventories |
-24.8 |
-2.0 |
6.2 |
-28.0 |
-26.7 |
|
Prepaid Expenses |
0.2 |
- |
- |
- |
0.1 |
|
Other Assets |
-2.8 |
9.7 |
20.6 |
0.0 |
- |
|
Accounts Payable |
2.3 |
25.1 |
-4.9 |
20.0 |
-7.2 |
|
Accrued Expenses |
7.1 |
3.2 |
7.5 |
2.8 |
1.5 |
|
Other Liabilities |
4.1 |
-8.7 |
- |
- |
- |
|
Other Operating Cash Flow |
-0.2 |
0.9 |
1.5 |
-1.7 |
2.2 |
|
Changes in Working Capital |
-11.1 |
13.6 |
20.4 |
-41.0 |
-19.6 |
|
Cash from Operating Activities |
36.7 |
65.2 |
65.8 |
-6.8 |
39.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-17.7 |
-9.0 |
-7.1 |
-9.3 |
-13.1 |
|
Purchase/Acquisition of
Intangibles |
-0.6 |
- |
- |
- |
- |
|
Capital Expenditures |
-18.3 |
-9.0 |
-7.1 |
-9.3 |
-13.1 |
|
Sale of Fixed Assets |
1.3 |
- |
- |
- |
- |
|
Investment, Net |
-1.0 |
0.0 |
-2.9 |
- |
- |
|
Other Investing Cash Flow |
-6.2 |
-35.3 |
-3.9 |
-3.5 |
-5.0 |
|
Other Investing Cash Flow Items, Total |
-5.9 |
-35.3 |
-6.8 |
-3.5 |
-5.0 |
|
Cash from Investing Activities |
-24.3 |
-44.3 |
-13.9 |
-12.9 |
-18.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.5 |
0.0 |
-16.0 |
0.0 |
-5.4 |
|
Financing Cash Flow Items |
0.5 |
0.0 |
-16.0 |
0.0 |
-5.4 |
|
Cash Dividends Paid - Common |
-26.2 |
-22.4 |
- |
- |
- |
|
Total Cash Dividends Paid |
-26.2 |
-22.4 |
- |
- |
- |
|
Sale/Issuance
of Common |
- |
- |
0.0 |
5.8 |
- |
|
Repurchase/Retirement
of Common |
- |
- |
- |
- |
-5.8 |
|
Common Stock, Net |
- |
- |
0.0 |
5.8 |
-5.8 |
|
Options Exercised |
2.2 |
1.2 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
2.2 |
1.2 |
0.0 |
5.8 |
-5.8 |
|
Short Term Debt, Net |
17.2 |
-0.9 |
-18.2 |
5.4 |
6.9 |
|
Long Term
Debt Reduction |
- |
- |
- |
- |
-52.0 |
|
Long Term Debt, Net |
- |
- |
- |
- |
-52.0 |
|
Issuance (Retirement) of Debt, Net |
17.2 |
-0.9 |
-18.2 |
5.4 |
-45.1 |
|
Cash from Financing Activities |
-6.4 |
-22.1 |
-34.1 |
11.2 |
-56.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.0 |
-0.7 |
0.7 |
1.5 |
1.5 |
|
Net Change in Cash |
2.1 |
-1.9 |
18.4 |
-6.9 |
-33.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
49.0 |
48.7 |
32.6 |
38.2 |
74.5 |
|
Net Cash - Ending Balance |
51.1 |
46.8 |
51.0 |
31.3 |
41.0 |
|
Cash Interest Paid |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
|
Cash Taxes Paid |
6.6 |
5.0 |
2.2 |
0.9 |
2.3 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Sales |
706.6 |
540.3 |
587.7 |
437.2 |
404.8 |
|
Sales Returns & Discounts |
-5.6 |
-2.0 |
-6.7 |
-2.6 |
-5.7 |
|
Total Sale |
701.0 |
538.3 |
581.0 |
434.6 |
399.1 |
|
|
|
|
|
|
|
|
Cost of Sales |
596.2 |
443.8 |
482.2 |
360.9 |
334.8 |
|
Selling Expenses |
23.7 |
23.8 |
22.3 |
17.5 |
20.8 |
|
General and Administrative
Expenses |
26.0 |
17.9 |
18.3 |
15.8 |
25.3 |
|
Research and Development Expenses |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
|
Inventory Devaluation &
Obsolescence |
- |
- |
- |
1.3 |
35.3 |
|
Impairment Loss |
2.0 |
1.7 |
1.1 |
- |
0.2 |
|
Total Operating Expense |
675.6 |
509.4 |
545.6 |
415.6 |
438.2 |
|
|
|
|
|
|
|
|
Interest Income |
2.7 |
1.4 |
1.1 |
1.2 |
2.2 |
|
Gain/Loss on Foreign Exchange |
8.7 |
8.2 |
0.5 |
1.8 |
1.5 |
|
Gain/Loss on Equity Investment |
-0.1 |
0.0 |
-1.4 |
-0.6 |
- |
|
Gain on Sale of Investment |
- |
- |
- |
- |
1.1 |
|
Miscellaneous Income |
0.8 |
0.5 |
0.3 |
4.1 |
3.0 |
|
Interest Expenses |
-0.1 |
0.0 |
-0.3 |
-0.3 |
-0.2 |
|
Gain/Loss on Financial Assets
Valuation |
1.0 |
0.3 |
1.2 |
-0.4 |
-0.8 |
|
Financial Liability Valuation G/L |
-0.3 |
0.0 |
-0.4 |
- |
- |
|
Miscellaneous Disbursements |
0.0 |
-0.4 |
-0.7 |
-0.7 |
-1.0 |
|
Net Income Before Taxes |
38.1 |
38.9 |
35.7 |
24.1 |
-33.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
|
Net Income After Taxes |
31.4 |
32.6 |
29.2 |
22.0 |
-32.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.6 |
-1.2 |
-0.5 |
0.0 |
0.4 |
|
Net Income Before Extra. Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
|
Accounting Change |
- |
- |
- |
- |
0.2 |
|
Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
501.0 |
496.4 |
495.5 |
475.4 |
484.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Basic EPS Including ExtraOrdinary Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Diluted Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
Diluted Weighted Average Shares |
511.9 |
508.5 |
500.1 |
487.2 |
484.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Diluted EPS Including ExtraOrd Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
DPS-Ordinary Shares |
0.04 |
0.05 |
0.05 |
0.03 |
0.00 |
|
Gross Dividends - Common Stock |
21.0 |
25.0 |
23.4 |
14.6 |
0.0 |
|
Normalized Income Before Taxes |
40.1 |
40.6 |
36.8 |
24.1 |
-33.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
7.0 |
6.5 |
6.7 |
2.1 |
-0.4 |
|
Normalized Income After Taxes |
33.1 |
34.0 |
30.2 |
22.0 |
-32.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
32.5 |
32.9 |
29.6 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.06 |
0.07 |
0.06 |
0.05 |
-0.07 |
|
Diluted Normalized EPS |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Interest Expense |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
|
R&D Expense, Supplemental |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
|
Depreciation - Operating Cost |
7.5 |
6.5 |
5.7 |
5.6 |
5.0 |
|
Depreciation - Operating Expense |
2.2 |
2.3 |
2.4 |
2.3 |
1.9 |
|
Amortization - Operation Cost |
4.3 |
3.6 |
2.1 |
0.9 |
- |
|
Amortization - Operating Expenses |
1.9 |
2.2 |
2.1 |
1.6 |
- |
|
Current Tax |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Current Tax - Total |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Deferred Tax |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Deferred Tax - Total |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Income Tax - Total |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
|
Service Cost |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Interest Cost |
0.3 |
0.4 |
0.3 |
0.3 |
0.4 |
|
Expected Return on Plan Assets |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
|
Amortization of Unrecognized Cost |
0.4 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Domestic Pension Plan Expense |
0.9 |
0.8 |
0.8 |
0.7 |
0.6 |
|
Provision for Defined Contribusion Plan |
0.9 |
0.8 |
0.7 |
- |
- |
|
Total Pension Expense |
1.8 |
1.6 |
1.5 |
0.7 |
0.6 |
|
Discount Rate |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Cash Equivalent |
55.2 |
48.3 |
49.0 |
31.7 |
40.9 |
|
Financial Assets at Fair Value |
19.1 |
22.7 |
22.7 |
43.0 |
42.8 |
|
Notes Receivable |
0.1 |
4.9 |
1.2 |
1.0 |
0.2 |
|
Accounts Receivable |
137.3 |
131.5 |
109.8 |
108.9 |
78.3 |
|
Provision for Doubtful Accounts |
-0.5 |
-0.6 |
-0.5 |
-0.5 |
-0.7 |
|
Provision for Sales Discount |
-0.2 |
-0.7 |
-0.8 |
-0.2 |
- |
|
Notes&Account Receivable -
Related |
19.2 |
9.9 |
16.8 |
8.7 |
5.1 |
|
Finished Goods |
32.6 |
24.0 |
18.3 |
53.6 |
47.0 |
|
Work-in-Process |
9.4 |
2.2 |
2.4 |
2.1 |
2.1 |
|
Raw Materials |
45.0 |
32.7 |
34.5 |
41.7 |
26.9 |
|
Goods in Transit |
7.6 |
2.8 |
2.5 |
1.0 |
0.6 |
|
Provision for Inventory |
- |
- |
- |
-32.6 |
-38.1 |
|
Other Financial Assets - Current |
7.9 |
2.2 |
2.2 |
4.7 |
1.7 |
|
Financial Assets for
Hedging,Current |
8.1 |
3.6 |
12.8 |
- |
- |
|
Deferred Tax Assets&Other
Current Assets |
5.9 |
5.6 |
7.7 |
7.7 |
8.3 |
|
Restricted Assets,Current |
0.0 |
0.6 |
0.0 |
- |
- |
|
Total Current Assets |
346.6 |
289.8 |
278.6 |
270.8 |
215.1 |
|
|
|
|
|
|
|
|
Long Term Equity Investment |
0.4 |
0.5 |
0.4 |
1.8 |
- |
|
Financial Assets at Cost |
4.3 |
4.9 |
1.7 |
0.0 |
0.0 |
|
Debt Investments Non-active,
Non-current |
30.1 |
26.5 |
- |
- |
- |
|
Financial Assets-Fair
Value,Non-Current |
1.1 |
0.2 |
- |
- |
- |
|
Land and Land Improvement |
23.9 |
21.8 |
21.3 |
21.6 |
21.4 |
|
Buildings |
65.9 |
61.3 |
60.0 |
56.5 |
41.4 |
|
Machinery and Equipment |
77.2 |
61.0 |
52.6 |
51.0 |
43.4 |
|
Test Equipment |
12.4 |
10.6 |
9.3 |
8.7 |
7.0 |
|
Other Equipment |
4.9 |
4.0 |
3.9 |
6.0 |
5.3 |
|
Accumulated Depreciation |
-83.4 |
-68.9 |
-59.7 |
-58.7 |
-45.9 |
|
Provision for Impairment of Fixed
Assets |
-0.6 |
-0.5 |
-1.0 |
-1.0 |
-1.0 |
|
Prepay for Equip.&Construction
in Progr |
6.1 |
0.3 |
1.9 |
1.6 |
8.9 |
|
Patent |
0.0 |
0.1 |
0.3 |
0.4 |
1.0 |
|
Software Cost |
2.2 |
1.0 |
0.7 |
1.0 |
1.1 |
|
Deferred Pension Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Land Use Right |
4.6 |
3.8 |
3.9 |
3.7 |
3.5 |
|
Deferred Charges and Others |
6.4 |
6.9 |
7.8 |
7.5 |
6.9 |
|
Total Assets |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
18.6 |
0.1 |
1.0 |
18.7 |
13.2 |
|
Accounts Payable |
140.8 |
126.1 |
- |
- |
- |
|
Notes and Accounts Payable |
- |
- |
97.6 |
103.5 |
82.9 |
|
Accrued Expenses & Other
Current Liab. |
47.8 |
36.3 |
33.1 |
26.8 |
27.7 |
|
Current Portion of Corporate Bonds
Pybl. |
- |
- |
- |
- |
3.0 |
|
Derivative financial liabilities |
8.5 |
3.7 |
12.3 |
0.2 |
- |
|
Other Current Liab. |
7.3 |
5.9 |
5.5 |
6.0 |
2.3 |
|
Total Current Liabilities |
223.1 |
172.1 |
149.5 |
155.2 |
129.1 |
|
|
|
|
|
|
|
|
Accrued Pension Liabilities |
9.3 |
7.2 |
6.1 |
6.4 |
5.5 |
|
Deferred Income Tax Liabilities
& Other |
8.0 |
8.3 |
6.3 |
4.9 |
3.9 |
|
Minority Interest |
12.8 |
12.2 |
11.0 |
9.9 |
9.2 |
|
Total Liabilities |
253.1 |
199.7 |
172.9 |
176.4 |
147.7 |
|
|
|
|
|
|
|
|
Common Stock |
173.3 |
156.3 |
150.2 |
148.3 |
146.2 |
|
Additional Paid-In Capital |
26.6 |
23.8 |
22.5 |
22.8 |
31.0 |
|
Capital Gain on F.A
Disposal/Others |
0.9 |
0.6 |
0.6 |
0.6 |
0.3 |
|
Legal Reserve |
9.1 |
5.1 |
2.2 |
- |
13.7 |
|
Special Reserve |
- |
- |
- |
- |
0.0 |
|
Retained Earnings |
39.7 |
34.9 |
28.4 |
22.3 |
-23.6 |
|
Cumulative Translation Adjustment |
4.0 |
6.1 |
7.6 |
3.8 |
1.4 |
|
Unrealised Gain/Loss on Pension
Fund |
-4.5 |
-3.1 |
-2.5 |
-3.0 |
-2.5 |
|
Treasury Stock |
- |
- |
- |
- |
-5.8 |
|
Total Equity |
249.1 |
223.7 |
209.0 |
194.8 |
160.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
Total Common Shares Outstanding |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
- |
18.7 |
|
Full-Time Employees |
9,263 |
8,448 |
7,043 |
7,729 |
6,750 |
|
Number of Shareholders |
34,481 |
35,833 |
17,161 |
15,153 |
13,632 |
|
Accumulated Benefit Obligation |
12.0 |
9.4 |
7.9 |
8.0 |
8.5 |
|
Benefit Obligation |
17.0 |
13.5 |
11.6 |
9.4 |
10.9 |
|
Fair Value of Plan Assets |
3.7 |
3.1 |
2.8 |
1.6 |
3.9 |
|
Funded Status |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Total Funded Status |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Discount Rate |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Deferred Pension Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Accrued Pension Liabilities |
-9.3 |
-7.2 |
-6.1 |
-6.4 |
-5.5 |
|
Net Assets Recognized on Balance Sheet |
-9.2 |
-7.1 |
-6.0 |
-6.2 |
-5.4 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
31.4 |
32.6 |
29.2 |
22.0 |
-32.6 |
|
Depreciation |
15.9 |
14.7 |
12.3 |
10.4 |
11.6 |
|
Impairment Loss on Assets |
2.0 |
1.7 |
1.1 |
- |
0.2 |
|
Equity Investment Gain/Loss |
0.1 |
0.0 |
1.4 |
0.6 |
- |
|
G/L on Disposal&Write-off of
Properties |
-0.6 |
- |
- |
- |
- |
|
G/L on Valuation of
Inventory/Obsoles. |
0.0 |
-0.4 |
1.4 |
1.3 |
35.3 |
|
Employee Stock Option Cost |
0.2 |
- |
- |
- |
- |
|
Financial Assets Revaluation Adj
Loss |
- |
- |
- |
- |
44.5 |
|
Financial Assets-Fair Value,
Current |
5.3 |
0.6 |
20.6 |
0.0 |
- |
|
Notes&Account Receivable |
3.0 |
-14.7 |
-10.5 |
-34.1 |
10.5 |
|
Inventories |
-24.8 |
-2.0 |
6.2 |
-28.0 |
-26.7 |
|
Prepayment & Other Current
Assets |
0.2 |
- |
- |
- |
0.1 |
|
Restricted Assets |
0.6 |
- |
- |
- |
- |
|
Other Financial Assets |
-5.0 |
- |
- |
- |
- |
|
Notes and Accounts Payable |
- |
- |
-4.9 |
20.0 |
-7.2 |
|
Accrued Expenses&Other
Payables |
7.1 |
3.2 |
7.5 |
2.8 |
1.5 |
|
Accounts Payable |
2.3 |
25.1 |
- |
- |
- |
|
Financial Assets for
Hedging,Current |
-3.8 |
9.2 |
- |
- |
- |
|
Financial Liability for
Hedging,Current |
4.1 |
-8.7 |
- |
- |
- |
|
Deferred Tax Liabilities |
-1.1 |
3.0 |
- |
- |
- |
|
Others |
-0.2 |
0.9 |
1.5 |
-1.7 |
2.2 |
|
Cash from Operating Activities |
36.7 |
65.2 |
65.8 |
-6.8 |
39.4 |
|
|
|
|
|
|
|
|
Financial Assets - Cost |
-1.0 |
0.0 |
-2.9 |
- |
- |
|
Capital Expenditure |
-17.7 |
-9.0 |
-7.1 |
-9.3 |
-13.1 |
|
Disposal of Fixed Assets |
1.3 |
- |
- |
- |
- |
|
Deferred Charges |
-6.5 |
-5.0 |
-3.9 |
-3.5 |
-5.0 |
|
Redemption of Convertible Bonds
Payable |
0.0 |
-30.3 |
- |
- |
- |
|
Land Use Right Increase |
-0.6 |
- |
- |
- |
- |
|
Others |
0.3 |
- |
- |
- |
- |
|
Cash from Investing Activities |
-24.3 |
-44.3 |
-13.9 |
-12.9 |
-18.1 |
|
|
|
|
|
|
|
|
Purchase of Treasury Stock |
- |
- |
- |
- |
-5.8 |
|
Transfer of Treasury Stock |
- |
- |
0.0 |
5.8 |
- |
|
Short Term Borrowings,
Increase/Decrease |
17.2 |
-0.9 |
-18.2 |
5.4 |
6.9 |
|
Redemption of Corporate Bonds |
- |
- |
- |
- |
-52.0 |
|
Cash Dividend Paid |
-26.2 |
-22.4 |
- |
- |
- |
|
Employee Bonus/Directors'
Remuneration |
- |
- |
-16.0 |
- |
- |
|
Dividend,Employee Bonus,Directors
Remun. |
- |
- |
- |
- |
-9.0 |
|
Minority Interest Increase |
- |
- |
- |
0.0 |
3.5 |
|
Others |
0.5 |
0.0 |
0.0 |
- |
- |
|
Employee Stock Option Exercised |
2.2 |
1.2 |
- |
- |
- |
|
Cash from Financing Activities |
-6.4 |
-22.1 |
-34.1 |
11.2 |
-56.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.0 |
-0.7 |
0.7 |
1.5 |
1.5 |
|
Net Change in Cash |
2.1 |
-1.9 |
18.4 |
-6.9 |
-33.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
49.0 |
48.7 |
32.6 |
38.2 |
74.5 |
|
Net Cash - Ending Balance |
51.1 |
46.8 |
51.0 |
31.3 |
41.0 |
|
Cash Interest Paid |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
|
Cash Taxes Paid |
6.6 |
5.0 |
2.2 |
0.9 |
2.3 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Gross Sale |
706.6 |
540.3 |
587.7 |
437.2 |
404.8 |
|
Sales Returns and Allowances |
-5.6 |
-2.0 |
-6.7 |
-2.6 |
-5.7 |
|
Sale |
701.0 |
538.3 |
581.0 |
434.6 |
399.1 |
|
Total Sale |
701.0 |
538.3 |
581.0 |
434.6 |
399.1 |
|
|
|
|
|
|
|
|
Cost of Sale |
596.2 |
443.8 |
482.2 |
362.1 |
370.0 |
|
Cost of Sale, Total |
596.2 |
443.8 |
482.2 |
362.1 |
370.0 |
|
Gross Profit |
104.8 |
94.5 |
98.7 |
72.4 |
29.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
49.8 |
41.7 |
40.6 |
33.4 |
46.1 |
|
Total Selling/General/Administrative Expenses |
49.8 |
41.7 |
40.6 |
33.4 |
46.1 |
|
Research & Development |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
|
Impairment-Assets Held for Use |
2.0 |
1.7 |
1.1 |
- |
0.2 |
|
Unusual Expense (Income) |
2.0 |
1.7 |
1.1 |
- |
0.2 |
|
Total Operating Expense |
675.6 |
509.4 |
545.6 |
415.6 |
438.2 |
|
|
|
|
|
|
|
|
Operating Income |
25.4 |
28.9 |
35.4 |
19.0 |
-39.1 |
|
|
|
|
|
|
|
|
Interest
Expense - Non-Operating |
-0.1 |
0.0 |
-0.3 |
-0.3 |
-0.2 |
|
Interest Expense, Net
Non-Operating |
-0.1 |
0.0 |
-0.3 |
-0.3 |
-0.2 |
|
Interest
Income - Non-Operating |
2.7 |
1.4 |
1.1 |
1.2 |
2.2 |
|
Investment
Income - Non-Operating |
9.4 |
8.5 |
0.0 |
0.8 |
1.8 |
|
Interest/Investment Income -
Non-Operating |
12.0 |
9.8 |
1.1 |
2.1 |
4.1 |
|
Interest Income (Expense) - Net Non-Operating Total |
11.9 |
9.8 |
0.7 |
1.8 |
3.9 |
|
Other Non-Operating Income
(Expense) |
0.8 |
0.1 |
-0.4 |
3.3 |
2.0 |
|
Other, Net |
0.8 |
0.1 |
-0.4 |
3.3 |
2.0 |
|
Income Before Tax |
38.1 |
38.9 |
35.7 |
24.1 |
-33.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
|
Income After Tax |
31.4 |
32.6 |
29.2 |
22.0 |
-32.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.6 |
-1.2 |
-0.5 |
0.0 |
0.4 |
|
Net Income Before Extraord Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
|
Accounting Change |
- |
- |
- |
- |
0.2 |
|
Total Extraord Items |
- |
- |
- |
- |
0.2 |
|
Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
501.0 |
496.4 |
495.5 |
475.4 |
484.1 |
|
Basic EPS Excl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Basic/Primary EPS Incl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Diluted Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
Diluted Weighted Average Shares |
511.9 |
508.5 |
500.1 |
487.2 |
484.1 |
|
Diluted EPS Excl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Diluted EPS Incl Extraord Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Dividends per Share - Common Stock Primary Issue |
0.04 |
0.05 |
0.05 |
0.03 |
0.00 |
|
Gross Dividends - Common Stock |
21.0 |
25.0 |
23.4 |
14.6 |
0.0 |
|
Interest Expense, Supplemental |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
|
Depreciation, Supplemental |
9.6 |
8.8 |
8.1 |
7.8 |
6.9 |
|
Total Special Items |
2.0 |
1.7 |
1.1 |
- |
0.2 |
|
Normalized Income Before Tax |
40.1 |
40.6 |
36.8 |
24.1 |
-33.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.4 |
0.3 |
0.2 |
- |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
7.0 |
6.5 |
6.7 |
2.1 |
-0.4 |
|
Normalized Income After Tax |
33.1 |
34.0 |
30.2 |
22.0 |
-32.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
32.5 |
32.9 |
29.6 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.06 |
0.07 |
0.06 |
0.05 |
-0.07 |
|
Diluted Normalized EPS |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Amort of Intangibles, Supplemental |
6.2 |
5.8 |
4.2 |
2.5 |
- |
|
Research & Development Exp, Supplemental |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
|
Normalized EBIT |
27.4 |
30.6 |
36.5 |
19.0 |
-38.9 |
|
Normalized EBITDA |
43.3 |
45.3 |
48.8 |
29.3 |
-31.9 |
|
Current Tax - Total |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Current Tax - Total |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Deferred Tax - Total |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Deferred Tax - Total |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Income Tax - Total |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
|
Interest Cost - Domestic |
0.3 |
0.4 |
0.3 |
0.3 |
0.4 |
|
Service Cost - Domestic |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Expected Return on Assets - Domestic |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
|
Transition Costs - Domestic |
0.4 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Domestic Pension Plan Expense |
0.9 |
0.8 |
0.8 |
0.7 |
0.6 |
|
Defined Contribution Expense - Domestic |
0.9 |
0.8 |
0.7 |
- |
- |
|
Total Pension Expense |
1.8 |
1.6 |
1.5 |
0.7 |
0.6 |
|
Discount Rate - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Compensation Rate - Domestic |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
0.3 |
0.4 |
0.3 |
0.3 |
0.4 |
|
Total Plan Service Cost |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Total Plan Expected Return |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
28.855204 |
29.305764 |
30.350199 |
31.911435 |
31.824532 |
|
|
|
|
|
|
|
|
Gross Sale |
198.6 |
163.8 |
181.0 |
197.3 |
181.6 |
|
Sales Returns and Allowances |
-0.8 |
-0.7 |
-0.8 |
-2.4 |
-0.6 |
|
Sale |
197.9 |
163.1 |
180.1 |
195.0 |
180.9 |
|
Total Sale |
197.9 |
163.1 |
180.1 |
195.0 |
180.9 |
|
|
|
|
|
|
|
|
Cost of Sale |
173.2 |
143.6 |
155.1 |
163.2 |
153.6 |
|
Cost of Sale, Total |
173.2 |
143.6 |
155.1 |
163.2 |
153.6 |
|
Gross Profit |
24.7 |
19.5 |
25.0 |
31.7 |
27.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
14.2 |
12.9 |
13.2 |
13.5 |
12.3 |
|
Total Selling/General/Administrative Expenses |
14.2 |
12.9 |
13.2 |
13.5 |
12.3 |
|
Research & Development |
7.8 |
7.6 |
8.3 |
6.5 |
6.9 |
|
Impairment-Assets Held for Sale |
0.6 |
0.7 |
2.1 |
- |
0.0 |
|
Unusual Expense (Income) |
0.6 |
0.7 |
2.1 |
- |
0.0 |
|
Total Operating Expense |
195.9 |
164.8 |
178.7 |
183.2 |
172.9 |
|
|
|
|
|
|
|
|
Operating Income |
2.0 |
-1.7 |
1.4 |
11.8 |
8.0 |
|
|
|
|
|
|
|
|
Interest
Expense - Non-Operating |
-0.1 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Interest Expense, Net
Non-Operating |
-0.1 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Interest
Income - Non-Operating |
0.8 |
0.7 |
0.7 |
0.7 |
0.7 |
|
Investment
Income - Non-Operating |
1.8 |
3.5 |
1.3 |
2.0 |
3.3 |
|
Interest/Investment Income -
Non-Operating |
2.7 |
4.3 |
2.0 |
2.6 |
4.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
2.6 |
4.2 |
1.9 |
2.7 |
3.9 |
|
Gain (Loss) on Sale of Assets |
- |
- |
-0.7 |
0.6 |
- |
|
Other Non-Operating Income
(Expense) |
0.7 |
0.0 |
0.8 |
-0.1 |
0.0 |
|
Other, Net |
0.7 |
0.0 |
0.8 |
-0.1 |
0.0 |
|
Income Before Tax |
5.4 |
2.6 |
3.5 |
15.0 |
12.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.9 |
0.6 |
1.8 |
2.0 |
1.1 |
|
Income After Tax |
3.4 |
1.9 |
1.7 |
13.0 |
10.9 |
|
|
|
|
|
|
|
|
Minority Interest |
0.3 |
0.1 |
0.1 |
0.0 |
-0.3 |
|
Net Income Before Extraord Items |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
Net Income |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
507.8 |
506.7 |
501.7 |
500.9 |
500.8 |
|
Basic EPS Excl Extraord Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
Diluted Weighted Average Shares |
515.7 |
511.6 |
511.6 |
511.7 |
513.8 |
|
Diluted EPS Excl Extraord Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.04 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
21.7 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
4.3 |
4.2 |
4.1 |
3.7 |
4.0 |
|
Total Special Items |
0.6 |
0.7 |
2.7 |
-0.6 |
0.0 |
|
Normalized Income Before Tax |
6.0 |
3.2 |
6.3 |
14.3 |
12.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.2 |
0.2 |
1.4 |
-0.1 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
2.2 |
0.8 |
3.2 |
1.9 |
1.1 |
|
Normalized Income After Tax |
3.8 |
2.4 |
3.1 |
12.5 |
10.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.1 |
2.6 |
3.2 |
12.5 |
10.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.01 |
0.01 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.01 |
0.01 |
0.02 |
0.02 |
|
Research & Development Exp, Supplemental |
7.8 |
7.6 |
8.3 |
6.5 |
6.9 |
|
Normalized EBIT |
2.6 |
-1.0 |
3.5 |
11.8 |
8.0 |
|
Normalized EBITDA |
7.0 |
3.2 |
7.7 |
15.4 |
12.0 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
55.2 |
48.3 |
49.0 |
31.7 |
40.9 |
|
Short Term Investments |
35.1 |
28.6 |
37.7 |
47.7 |
44.5 |
|
Cash and Short Term Investments |
90.3 |
76.9 |
86.7 |
79.4 |
85.4 |
|
Accounts
Receivable - Trade, Gross |
137.3 |
131.5 |
109.8 |
108.9 |
78.3 |
|
Provision
for Doubtful Accounts |
-0.6 |
-1.3 |
-1.2 |
-0.7 |
-0.7 |
|
Trade Accounts Receivable - Net |
155.8 |
140.1 |
125.4 |
116.8 |
82.7 |
|
Notes Receivable - Short Term |
0.1 |
4.9 |
1.2 |
1.0 |
0.2 |
|
Total Receivables, Net |
155.9 |
145.0 |
126.6 |
117.9 |
83.0 |
|
Inventories - Finished Goods |
40.2 |
26.7 |
20.8 |
54.6 |
47.7 |
|
Inventories - Work In Progress |
9.4 |
2.2 |
2.4 |
2.1 |
2.1 |
|
Inventories - Raw Materials |
45.0 |
32.7 |
34.5 |
41.7 |
26.9 |
|
Inventories - Other |
- |
- |
- |
-32.6 |
-38.1 |
|
Total Inventory |
94.5 |
61.7 |
57.7 |
65.8 |
38.5 |
|
Restricted Cash - Current |
0.0 |
0.6 |
0.0 |
- |
- |
|
Deferred Income Tax - Current
Asset |
5.9 |
5.6 |
7.7 |
7.7 |
8.3 |
|
Other Current Assets, Total |
5.9 |
6.2 |
7.7 |
7.7 |
8.3 |
|
Total Current Assets |
346.6 |
289.8 |
278.6 |
270.8 |
215.1 |
|
|
|
|
|
|
|
|
Buildings |
65.9 |
61.3 |
60.0 |
56.5 |
41.4 |
|
Land/Improvements |
23.9 |
21.8 |
21.3 |
21.6 |
21.4 |
|
Machinery/Equipment |
94.5 |
75.6 |
65.8 |
65.7 |
55.6 |
|
Construction
in Progress |
6.1 |
0.3 |
1.9 |
1.6 |
8.9 |
|
Property/Plant/Equipment - Gross |
190.4 |
159.0 |
149.0 |
145.4 |
127.3 |
|
Accumulated Depreciation |
-84.0 |
-69.4 |
-60.7 |
-59.7 |
-46.9 |
|
Property/Plant/Equipment - Net |
106.4 |
89.6 |
88.3 |
85.8 |
80.4 |
|
Intangibles, Net |
6.8 |
4.8 |
4.9 |
5.1 |
5.7 |
|
LT Investment - Affiliate
Companies |
0.4 |
0.5 |
0.4 |
1.8 |
- |
|
LT Investments - Other |
35.5 |
31.7 |
1.7 |
0.0 |
0.0 |
|
Long Term Investments |
35.8 |
32.2 |
2.2 |
1.8 |
0.0 |
|
Deferred Charges |
6.4 |
6.9 |
7.8 |
7.5 |
6.9 |
|
Pension Benefits - Overfunded |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Other Long Term Assets, Total |
6.5 |
7.0 |
7.9 |
7.7 |
7.1 |
|
Total Assets |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
140.8 |
126.1 |
97.6 |
103.5 |
82.9 |
|
Accrued Expenses |
47.8 |
36.3 |
33.1 |
26.8 |
27.7 |
|
Notes Payable/Short Term Debt |
18.6 |
0.1 |
1.0 |
18.7 |
13.2 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
- |
3.0 |
|
Other Current Liabilities |
15.8 |
9.5 |
17.8 |
6.2 |
2.3 |
|
Other Current liabilities, Total |
15.8 |
9.5 |
17.8 |
6.2 |
2.3 |
|
Total Current Liabilities |
223.1 |
172.1 |
149.5 |
155.2 |
129.1 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
18.6 |
0.1 |
1.0 |
18.7 |
16.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
8.0 |
8.3 |
6.3 |
4.9 |
3.9 |
|
Deferred Income Tax |
8.0 |
8.3 |
6.3 |
4.9 |
3.9 |
|
Minority Interest |
12.8 |
12.2 |
11.0 |
9.9 |
9.2 |
|
Pension Benefits - Underfunded |
9.3 |
7.2 |
6.1 |
6.4 |
5.5 |
|
Other Liabilities, Total |
9.3 |
7.2 |
6.1 |
6.4 |
5.5 |
|
Total Liabilities |
253.1 |
199.7 |
172.9 |
176.4 |
147.7 |
|
|
|
|
|
|
|
|
Common Stock |
173.3 |
156.3 |
150.2 |
148.3 |
146.2 |
|
Common Stock |
173.3 |
156.3 |
150.2 |
148.3 |
146.2 |
|
Additional Paid-In Capital |
27.5 |
24.4 |
23.1 |
23.4 |
31.3 |
|
Retained Earnings (Accumulated Deficit) |
48.8 |
39.9 |
30.6 |
22.3 |
-9.9 |
|
Treasury Stock - Common |
- |
- |
- |
- |
-5.8 |
|
Translation Adjustment |
4.0 |
6.1 |
7.6 |
3.8 |
1.4 |
|
Minimum Pension Liability
Adjustment |
-4.5 |
-3.1 |
-2.5 |
-3.0 |
-2.5 |
|
Other Equity, Total |
-0.5 |
2.9 |
5.1 |
0.8 |
-1.1 |
|
Total Equity |
249.1 |
223.7 |
209.0 |
194.8 |
160.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
Total Common Shares Outstanding |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
- |
18.7 |
|
Employees |
9,263 |
8,448 |
7,043 |
7,729 |
6,750 |
|
Number of Common Shareholders |
34,481 |
35,833 |
17,161 |
15,153 |
13,632 |
|
Pension Obligation - Domestic |
17.0 |
13.5 |
11.6 |
9.4 |
10.9 |
|
Plan Assets - Domestic |
3.7 |
3.1 |
2.8 |
1.6 |
3.9 |
|
Funded Status - Domestic |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Accumulated Obligation - Domestic |
12.0 |
9.4 |
7.9 |
8.0 |
8.5 |
|
Total Funded Status |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Discount Rate - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Compensation Rate - Domestic |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Accrued Liabilities - Domestic |
-9.3 |
-7.2 |
-6.1 |
-6.4 |
-5.5 |
|
Net Assets Recognized on Balance Sheet |
-9.2 |
-7.1 |
-6.0 |
-6.2 |
-5.4 |
|
Total Plan Obligations |
17.0 |
13.5 |
11.6 |
9.4 |
10.9 |
|
Total Plan Assets |
3.7 |
3.1 |
2.8 |
1.6 |
3.9 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
28.7235 |
29.4065 |
29.1565 |
31.2415 |
32.1315 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
54.1 |
52.0 |
55.2 |
70.1 |
73.2 |
|
Short Term Investments |
18.8 |
21.2 |
35.1 |
19.5 |
23.6 |
|
Cash and Short Term Investments |
72.9 |
73.3 |
90.3 |
89.6 |
96.8 |
|
Accounts
Receivable - Trade, Gross |
162.4 |
129.1 |
137.3 |
153.6 |
142.9 |
|
Provision
for Doubtful Accounts |
-0.5 |
-0.6 |
-0.6 |
-0.5 |
-0.5 |
|
Trade Accounts Receivable - Net |
178.0 |
146.2 |
155.8 |
168.0 |
155.6 |
|
Notes Receivable - Short Term |
0.3 |
0.1 |
0.1 |
1.0 |
2.9 |
|
Total Receivables, Net |
178.3 |
146.3 |
155.9 |
169.0 |
158.5 |
|
Inventories - Finished Goods |
51.3 |
44.0 |
40.2 |
29.0 |
24.6 |
|
Inventories - Work In Progress |
13.4 |
13.1 |
9.4 |
16.1 |
6.2 |
|
Inventories - Raw Materials |
51.0 |
49.2 |
45.0 |
46.2 |
44.6 |
|
Total Inventory |
115.7 |
106.3 |
94.5 |
91.3 |
75.5 |
|
Restricted Cash - Current |
0.0 |
0.0 |
0.0 |
0.7 |
0.6 |
|
Deferred Income Tax - Current
Asset |
10.7 |
8.0 |
5.9 |
7.3 |
8.2 |
|
Other Current Assets |
0.0 |
- |
- |
- |
0.4 |
|
Other Current Assets, Total |
10.7 |
8.0 |
5.9 |
8.0 |
9.2 |
|
Total Current Assets |
377.6 |
333.9 |
346.6 |
357.9 |
340.0 |
|
|
|
|
|
|
|
|
Buildings |
73.0 |
69.9 |
65.9 |
59.6 |
60.7 |
|
Land/Improvements |
24.3 |
23.7 |
23.9 |
22.4 |
21.7 |
|
Machinery/Equipment |
100.5 |
94.9 |
94.5 |
85.6 |
79.9 |
|
Construction
in Progress |
4.1 |
4.8 |
6.1 |
5.0 |
3.9 |
|
Property/Plant/Equipment - Gross |
201.9 |
193.3 |
190.4 |
172.5 |
166.2 |
|
Accumulated Depreciation |
-87.1 |
-84.0 |
-84.0 |
-74.9 |
-73.8 |
|
Property/Plant/Equipment - Net |
114.8 |
109.3 |
106.4 |
97.6 |
92.4 |
|
Intangibles, Net |
7.6 |
7.7 |
6.8 |
5.5 |
5.1 |
|
LT Investment - Affiliate
Companies |
0.3 |
0.3 |
0.4 |
0.4 |
0.4 |
|
LT Investments - Other |
36.2 |
35.2 |
35.5 |
34.6 |
32.2 |
|
Long Term Investments |
36.5 |
35.6 |
35.8 |
35.0 |
32.5 |
|
Deferred Charges |
5.9 |
5.9 |
6.4 |
5.0 |
5.0 |
|
Pension Benefits - Overfunded |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Long Term Assets, Total |
6.0 |
6.0 |
6.5 |
5.1 |
5.1 |
|
Total Assets |
542.5 |
492.5 |
502.3 |
501.1 |
475.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
167.7 |
140.7 |
140.8 |
167.2 |
156.5 |
|
Accrued Expenses |
41.0 |
42.3 |
47.8 |
43.4 |
36.2 |
|
Notes Payable/Short Term Debt |
23.1 |
12.6 |
18.6 |
15.2 |
3.3 |
|
Dividends Payable |
23.0 |
- |
- |
- |
25.7 |
|
Other Current Liabilities |
17.3 |
16.3 |
15.8 |
14.9 |
11.1 |
|
Other Current liabilities, Total |
40.3 |
16.3 |
15.8 |
14.9 |
36.8 |
|
Total Current Liabilities |
272.0 |
211.9 |
223.1 |
240.7 |
232.8 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
23.1 |
12.6 |
18.6 |
15.2 |
3.3 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
11.0 |
7.8 |
8.0 |
8.1 |
8.9 |
|
Deferred Income Tax |
11.0 |
7.8 |
8.0 |
8.1 |
8.9 |
|
Minority Interest |
12.6 |
12.8 |
12.8 |
12.7 |
12.6 |
|
Pension Benefits - Underfunded |
9.7 |
9.4 |
9.3 |
7.6 |
7.3 |
|
Other Liabilities, Total |
9.7 |
9.4 |
9.3 |
7.6 |
7.3 |
|
Total Liabilities |
305.2 |
241.8 |
253.1 |
269.1 |
261.6 |
|
|
|
|
|
|
|
|
Common Stock |
176.8 |
172.5 |
173.3 |
160.4 |
155.9 |
|
Common Stock |
176.8 |
172.5 |
173.3 |
160.4 |
155.9 |
|
Additional Paid-In Capital |
28.5 |
27.6 |
27.5 |
25.1 |
24.4 |
|
Retained Earnings (Accumulated Deficit) |
32.5 |
50.5 |
48.8 |
43.8 |
29.6 |
|
Translation Adjustment |
4.1 |
4.5 |
4.0 |
6.0 |
6.8 |
|
Minimum Pension Liability
Adjustment |
-4.5 |
-4.4 |
-4.5 |
-3.2 |
-3.1 |
|
Other Equity, Total |
-0.5 |
0.0 |
-0.5 |
2.8 |
3.7 |
|
Total Equity |
237.3 |
250.7 |
249.1 |
232.0 |
213.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
542.5 |
492.5 |
502.3 |
501.1 |
475.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
508.0 |
507.4 |
505.4 |
501.0 |
500.8 |
|
Total Common Shares Outstanding |
508.0 |
507.4 |
505.4 |
501.0 |
500.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
11,327 |
- |
9,263 |
- |
10,939 |
|
Prepaid Benefits - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Accrued Liabilities - Domestic |
-9.7 |
-9.4 |
-9.3 |
-7.6 |
-7.3 |
|
Net Assets Recognized on Balance Sheet |
-9.6 |
-9.3 |
-9.2 |
-7.5 |
-7.2 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
31.4 |
32.6 |
29.2 |
22.0 |
-32.6 |
|
Depreciation |
15.9 |
14.7 |
12.3 |
10.4 |
11.6 |
|
Depreciation/Depletion |
15.9 |
14.7 |
12.3 |
10.4 |
11.6 |
|
Deferred Taxes |
-1.1 |
3.0 |
- |
- |
- |
|
Unusual Items |
1.4 |
1.7 |
1.1 |
- |
44.7 |
|
Equity in Net Earnings (Loss) |
0.1 |
0.0 |
1.4 |
0.6 |
- |
|
Other Non-Cash Items |
0.1 |
-0.4 |
1.4 |
1.3 |
35.3 |
|
Non-Cash Items |
1.6 |
1.3 |
3.9 |
1.9 |
80.0 |
|
Accounts Receivable |
3.0 |
-14.7 |
-10.5 |
-34.1 |
10.5 |
|
Inventories |
-24.8 |
-2.0 |
6.2 |
-28.0 |
-26.7 |
|
Prepaid Expenses |
0.2 |
- |
- |
- |
0.1 |
|
Other Assets |
-2.8 |
9.7 |
20.6 |
0.0 |
- |
|
Accounts Payable |
2.3 |
25.1 |
-4.9 |
20.0 |
-7.2 |
|
Accrued Expenses |
7.1 |
3.2 |
7.5 |
2.8 |
1.5 |
|
Other Liabilities |
4.1 |
-8.7 |
- |
- |
- |
|
Other Operating Cash Flow |
-0.2 |
0.9 |
1.5 |
-1.7 |
2.2 |
|
Changes in Working Capital |
-11.1 |
13.6 |
20.4 |
-41.0 |
-19.6 |
|
Cash from Operating Activities |
36.7 |
65.2 |
65.8 |
-6.8 |
39.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-17.7 |
-9.0 |
-7.1 |
-9.3 |
-13.1 |
|
Purchase/Acquisition of
Intangibles |
-0.6 |
- |
- |
- |
- |
|
Capital Expenditures |
-18.3 |
-9.0 |
-7.1 |
-9.3 |
-13.1 |
|
Sale of Fixed Assets |
1.3 |
- |
- |
- |
- |
|
Investment, Net |
-1.0 |
0.0 |
-2.9 |
- |
- |
|
Other Investing Cash Flow |
-6.2 |
-35.3 |
-3.9 |
-3.5 |
-5.0 |
|
Other Investing Cash Flow Items, Total |
-5.9 |
-35.3 |
-6.8 |
-3.5 |
-5.0 |
|
Cash from Investing Activities |
-24.3 |
-44.3 |
-13.9 |
-12.9 |
-18.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.5 |
0.0 |
-16.0 |
0.0 |
-5.4 |
|
Financing Cash Flow Items |
0.5 |
0.0 |
-16.0 |
0.0 |
-5.4 |
|
Cash Dividends Paid - Common |
-26.2 |
-22.4 |
- |
- |
- |
|
Total Cash Dividends Paid |
-26.2 |
-22.4 |
- |
- |
- |
|
Sale/Issuance
of Common |
- |
- |
0.0 |
5.8 |
- |
|
Repurchase/Retirement
of Common |
- |
- |
- |
- |
-5.8 |
|
Common Stock, Net |
- |
- |
0.0 |
5.8 |
-5.8 |
|
Options Exercised |
2.2 |
1.2 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
2.2 |
1.2 |
0.0 |
5.8 |
-5.8 |
|
Short Term Debt, Net |
17.2 |
-0.9 |
-18.2 |
5.4 |
6.9 |
|
Long Term
Debt Reduction |
- |
- |
- |
- |
-52.0 |
|
Long Term Debt, Net |
- |
- |
- |
- |
-52.0 |
|
Issuance (Retirement) of Debt, Net |
17.2 |
-0.9 |
-18.2 |
5.4 |
-45.1 |
|
Cash from Financing Activities |
-6.4 |
-22.1 |
-34.1 |
11.2 |
-56.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.0 |
-0.7 |
0.7 |
1.5 |
1.5 |
|
Net Change in Cash |
2.1 |
-1.9 |
18.4 |
-6.9 |
-33.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
49.0 |
48.7 |
32.6 |
38.2 |
74.5 |
|
Net Cash - Ending Balance |
51.1 |
46.8 |
51.0 |
31.3 |
41.0 |
|
Cash Interest Paid |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
|
Cash Taxes Paid |
6.6 |
5.0 |
2.2 |
0.9 |
2.3 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
29.074238 |
29.305764 |
31.497037 |
31.886422 |
31.875049 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
5.4 |
1.9 |
31.4 |
29.4 |
16.4 |
|
Depreciation |
8.6 |
4.2 |
15.9 |
11.7 |
8.1 |
|
Depreciation/Depletion |
8.6 |
4.2 |
15.9 |
11.7 |
8.1 |
|
Deferred Taxes |
1.8 |
0.4 |
-1.1 |
-1.0 |
- |
|
Unusual Items |
1.3 |
0.7 |
1.4 |
-0.6 |
- |
|
Equity in Net Earnings (Loss) |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Other Non-Cash Items |
-0.6 |
0.1 |
0.1 |
0.2 |
- |
|
Non-Cash Items |
0.7 |
0.8 |
1.6 |
-0.3 |
0.1 |
|
Accounts Receivable |
-19.8 |
8.3 |
3.0 |
-20.1 |
-14.2 |
|
Inventories |
-19.5 |
-12.7 |
-24.8 |
-27.8 |
-14.1 |
|
Prepaid Expenses |
-3.0 |
-2.3 |
0.2 |
-1.5 |
-3.1 |
|
Other Assets |
16.6 |
13.6 |
-2.8 |
9.5 |
5.8 |
|
Accounts Payable |
24.4 |
1.1 |
2.3 |
37.3 |
31.2 |
|
Accrued Expenses |
-2.0 |
-0.5 |
7.1 |
11.1 |
-1.7 |
|
Other Liabilities |
-4.2 |
-2.8 |
4.1 |
0.4 |
1.4 |
|
Other Operating Cash Flow |
-0.3 |
-0.6 |
-0.2 |
-0.3 |
0.6 |
|
Changes in Working Capital |
-7.8 |
4.1 |
-11.1 |
8.8 |
5.8 |
|
Cash from Operating Activities |
8.6 |
11.5 |
36.7 |
48.6 |
30.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-12.4 |
-8.6 |
-17.7 |
-14.0 |
-6.6 |
|
Purchase/Acquisition of
Intangibles |
- |
-0.2 |
-0.6 |
- |
- |
|
Capital Expenditures |
-12.4 |
-8.8 |
-18.3 |
-14.0 |
-6.6 |
|
Sale of Fixed Assets |
- |
- |
1.3 |
1.2 |
- |
|
Purchase of Investments |
- |
- |
-1.0 |
-1.0 |
- |
|
Other Investing Cash Flow |
-2.9 |
-0.8 |
-6.2 |
-3.5 |
-1.6 |
|
Other Investing Cash Flow Items, Total |
-2.9 |
-0.8 |
-5.9 |
-3.3 |
-1.6 |
|
Cash from Investing Activities |
-15.4 |
-9.6 |
-24.3 |
-17.3 |
-8.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.5 |
-0.3 |
0.5 |
-25.5 |
0.3 |
|
Financing Cash Flow Items |
-0.5 |
-0.3 |
0.5 |
-25.5 |
0.3 |
|
Cash Dividends Paid - Common |
- |
- |
-26.2 |
- |
- |
|
Total Cash Dividends Paid |
- |
- |
-26.2 |
- |
- |
|
Options Exercised |
1.2 |
0.9 |
2.2 |
0.4 |
0.3 |
|
Issuance (Retirement) of Stock, Net |
1.2 |
0.9 |
2.2 |
0.4 |
0.3 |
|
Short Term Debt, Net |
4.1 |
-5.9 |
17.2 |
14.8 |
3.2 |
|
Issuance (Retirement) of Debt, Net |
4.1 |
-5.9 |
17.2 |
14.8 |
3.2 |
|
Cash from Financing Activities |
4.7 |
-5.3 |
-6.4 |
-10.3 |
3.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.1 |
0.7 |
-4.0 |
-0.8 |
-0.6 |
|
Net Change in Cash |
-2.0 |
-2.7 |
2.1 |
20.2 |
25.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
55.4 |
54.9 |
49.0 |
48.4 |
48.5 |
|
Net Cash - Ending Balance |
53.4 |
52.2 |
51.1 |
68.6 |
73.8 |
|
Cash Interest Paid |
0.1 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Cash Taxes Paid |
3.5 |
0.3 |
6.6 |
4.1 |
3.3 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Sales |
706.6 |
540.3 |
587.7 |
437.2 |
404.8 |
|
Sales Returns & Discounts |
-5.6 |
-2.0 |
-6.7 |
-2.6 |
-5.7 |
|
Total Sale |
701.0 |
538.3 |
581.0 |
434.6 |
399.1 |
|
|
|
|
|
|
|
|
Cost of Sales |
596.2 |
443.8 |
482.2 |
360.9 |
334.8 |
|
Selling Expenses |
23.7 |
23.8 |
22.3 |
17.5 |
20.8 |
|
General and Administrative
Expenses |
26.0 |
17.9 |
18.3 |
15.8 |
25.3 |
|
Research and Development Expenses |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
|
Inventory Devaluation &
Obsolescence |
- |
- |
- |
1.3 |
35.3 |
|
Impairment Loss |
2.0 |
1.7 |
1.1 |
- |
0.2 |
|
Total Operating Expense |
675.6 |
509.4 |
545.6 |
415.6 |
438.2 |
|
|
|
|
|
|
|
|
Interest Income |
2.7 |
1.4 |
1.1 |
1.2 |
2.2 |
|
Gain/Loss on Foreign Exchange |
8.7 |
8.2 |
0.5 |
1.8 |
1.5 |
|
Gain/Loss on Equity Investment |
-0.1 |
0.0 |
-1.4 |
-0.6 |
- |
|
Gain on Sale of Investment |
- |
- |
- |
- |
1.1 |
|
Miscellaneous Income |
0.8 |
0.5 |
0.3 |
4.1 |
3.0 |
|
Interest Expenses |
-0.1 |
0.0 |
-0.3 |
-0.3 |
-0.2 |
|
Gain/Loss on Financial Assets
Valuation |
1.0 |
0.3 |
1.2 |
-0.4 |
-0.8 |
|
Financial Liability Valuation G/L |
-0.3 |
0.0 |
-0.4 |
- |
- |
|
Miscellaneous Disbursements |
0.0 |
-0.4 |
-0.7 |
-0.7 |
-1.0 |
|
Net Income Before Taxes |
38.1 |
38.9 |
35.7 |
24.1 |
-33.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
|
Net Income After Taxes |
31.4 |
32.6 |
29.2 |
22.0 |
-32.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.6 |
-1.2 |
-0.5 |
0.0 |
0.4 |
|
Net Income Before Extra. Items |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
|
Accounting Change |
- |
- |
- |
- |
0.2 |
|
Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
30.9 |
31.4 |
28.7 |
22.0 |
-32.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
501.0 |
496.4 |
495.5 |
475.4 |
484.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Basic EPS Including ExtraOrdinary Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Diluted Net Income |
30.9 |
31.4 |
28.7 |
22.0 |
-32.2 |
|
Diluted Weighted Average Shares |
511.9 |
508.5 |
500.1 |
487.2 |
484.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Diluted EPS Including ExtraOrd Items |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
DPS-Ordinary Shares |
0.04 |
0.05 |
0.05 |
0.03 |
0.00 |
|
Gross Dividends - Common Stock |
21.0 |
25.0 |
23.4 |
14.6 |
0.0 |
|
Normalized Income Before Taxes |
40.1 |
40.6 |
36.8 |
24.1 |
-33.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
7.0 |
6.5 |
6.7 |
2.1 |
-0.4 |
|
Normalized Income After Taxes |
33.1 |
34.0 |
30.2 |
22.0 |
-32.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
32.5 |
32.9 |
29.6 |
22.0 |
-32.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.06 |
0.07 |
0.06 |
0.05 |
-0.07 |
|
Diluted Normalized EPS |
0.06 |
0.06 |
0.06 |
0.05 |
-0.07 |
|
Interest Expense |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
|
R&D Expense, Supplemental |
27.7 |
22.2 |
21.7 |
20.1 |
21.8 |
|
Depreciation - Operating Cost |
7.5 |
6.5 |
5.7 |
5.6 |
5.0 |
|
Depreciation - Operating Expense |
2.2 |
2.3 |
2.4 |
2.3 |
1.9 |
|
Amortization - Operation Cost |
4.3 |
3.6 |
2.1 |
0.9 |
- |
|
Amortization - Operating Expenses |
1.9 |
2.2 |
2.1 |
1.6 |
- |
|
Current Tax |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Current Tax - Total |
7.5 |
3.2 |
5.1 |
1.8 |
0.8 |
|
Deferred Tax |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Deferred Tax - Total |
-0.9 |
3.0 |
1.4 |
0.2 |
-1.3 |
|
Income Tax - Total |
6.7 |
6.3 |
6.5 |
2.1 |
-0.5 |
|
Service Cost |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Interest Cost |
0.3 |
0.4 |
0.3 |
0.3 |
0.4 |
|
Expected Return on Plan Assets |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
|
Amortization of Unrecognized Cost |
0.4 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Domestic Pension Plan Expense |
0.9 |
0.8 |
0.8 |
0.7 |
0.6 |
|
Provision for Defined Contribusion Plan |
0.9 |
0.8 |
0.7 |
- |
- |
|
Total Pension Expense |
1.8 |
1.6 |
1.5 |
0.7 |
0.6 |
|
Discount Rate |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
28.855204 |
29.305764 |
30.350199 |
31.911435 |
31.824532 |
|
|
|
|
|
|
|
|
Gross Sales |
198.6 |
163.8 |
181.0 |
197.3 |
181.6 |
|
Sales Returns&Discount |
-0.8 |
-0.7 |
-0.8 |
-2.4 |
-0.6 |
|
Total Sale |
197.9 |
163.1 |
180.1 |
195.0 |
180.9 |
|
|
|
|
|
|
|
|
Cost of Sales |
173.2 |
143.6 |
155.1 |
163.2 |
153.6 |
|
Selling Expense |
8.5 |
7.5 |
5.2 |
5.7 |
7.5 |
|
General and Administrative
Expenses |
5.8 |
5.4 |
8.0 |
7.7 |
4.8 |
|
Research and Development Expenses |
7.8 |
7.6 |
8.3 |
6.5 |
6.9 |
|
Impairment Loss |
0.6 |
0.7 |
2.1 |
- |
0.0 |
|
Total Operating Expense |
195.9 |
164.8 |
178.7 |
183.2 |
172.9 |
|
|
|
|
|
|
|
|
Interest Income |
0.8 |
0.7 |
0.7 |
0.7 |
0.7 |
|
Gain/Loss on Disposal of Fixed
Assets |
- |
- |
-0.7 |
0.6 |
- |
|
Gain/Loss on Foreign Exchange |
1.4 |
3.0 |
0.9 |
2.0 |
2.9 |
|
Revaluation Gain on Financial
Assets |
0.4 |
0.5 |
0.5 |
0.1 |
0.3 |
|
G/L on Financial Liabilities
Revaluation |
0.1 |
0.1 |
-0.1 |
-0.2 |
0.0 |
|
Miscellaneous Income |
0.7 |
0.1 |
0.7 |
0.0 |
0.1 |
|
Interest Expense |
-0.1 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Gain/Loss on Equity Investment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Miscellaneous Disbursements |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Net Income Before Taxes |
5.4 |
2.6 |
3.5 |
15.0 |
12.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.9 |
0.6 |
1.8 |
2.0 |
1.1 |
|
Net Income After Taxes |
3.4 |
1.9 |
1.7 |
13.0 |
10.9 |
|
|
|
|
|
|
|
|
Minority Interest |
0.3 |
0.1 |
0.1 |
0.0 |
-0.3 |
|
Net Income Before Extra. Items |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
Net Income |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
507.8 |
506.7 |
501.7 |
500.9 |
500.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
3.7 |
2.1 |
1.8 |
13.0 |
10.6 |
|
Diluted Weighted Average Shares |
515.7 |
511.6 |
511.6 |
511.7 |
513.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.01 |
0.00 |
0.00 |
0.03 |
0.02 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.04 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
21.7 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
6.0 |
3.2 |
6.3 |
14.3 |
12.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.2 |
0.8 |
3.2 |
1.9 |
1.1 |
|
Normalized Income After Taxes |
3.8 |
2.4 |
3.1 |
12.5 |
10.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.1 |
2.6 |
3.2 |
12.5 |
10.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.01 |
0.01 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.01 |
0.01 |
0.02 |
0.02 |
|
Interest Expense, Supplemental |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
R&D Expense, Supplemental |
7.8 |
7.6 |
8.3 |
6.5 |
6.9 |
|
Depreciation & Amortization |
4.3 |
4.2 |
4.1 |
3.7 |
4.0 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Cash Equivalent |
55.2 |
48.3 |
49.0 |
31.7 |
40.9 |
|
Financial Assets at Fair Value |
19.1 |
22.7 |
22.7 |
43.0 |
42.8 |
|
Notes Receivable |
0.1 |
4.9 |
1.2 |
1.0 |
0.2 |
|
Accounts Receivable |
137.3 |
131.5 |
109.8 |
108.9 |
78.3 |
|
Provision for Doubtful Accounts |
-0.5 |
-0.6 |
-0.5 |
-0.5 |
-0.7 |
|
Provision for Sales Discount |
-0.2 |
-0.7 |
-0.8 |
-0.2 |
- |
|
Notes&Account Receivable -
Related |
19.2 |
9.9 |
16.8 |
8.7 |
5.1 |
|
Finished Goods |
32.6 |
24.0 |
18.3 |
53.6 |
47.0 |
|
Work-in-Process |
9.4 |
2.2 |
2.4 |
2.1 |
2.1 |
|
Raw Materials |
45.0 |
32.7 |
34.5 |
41.7 |
26.9 |
|
Goods in Transit |
7.6 |
2.8 |
2.5 |
1.0 |
0.6 |
|
Provision for Inventory |
- |
- |
- |
-32.6 |
-38.1 |
|
Other Financial Assets - Current |
7.9 |
2.2 |
2.2 |
4.7 |
1.7 |
|
Financial Assets for
Hedging,Current |
8.1 |
3.6 |
12.8 |
- |
- |
|
Deferred Tax Assets&Other
Current Assets |
5.9 |
5.6 |
7.7 |
7.7 |
8.3 |
|
Restricted Assets,Current |
0.0 |
0.6 |
0.0 |
- |
- |
|
Total Current Assets |
346.6 |
289.8 |
278.6 |
270.8 |
215.1 |
|
|
|
|
|
|
|
|
Long Term Equity Investment |
0.4 |
0.5 |
0.4 |
1.8 |
- |
|
Financial Assets at Cost |
4.3 |
4.9 |
1.7 |
0.0 |
0.0 |
|
Debt Investments Non-active,
Non-current |
30.1 |
26.5 |
- |
- |
- |
|
Financial Assets-Fair
Value,Non-Current |
1.1 |
0.2 |
- |
- |
- |
|
Land and Land Improvement |
23.9 |
21.8 |
21.3 |
21.6 |
21.4 |
|
Buildings |
65.9 |
61.3 |
60.0 |
56.5 |
41.4 |
|
Machinery and Equipment |
77.2 |
61.0 |
52.6 |
51.0 |
43.4 |
|
Test Equipment |
12.4 |
10.6 |
9.3 |
8.7 |
7.0 |
|
Other Equipment |
4.9 |
4.0 |
3.9 |
6.0 |
5.3 |
|
Accumulated Depreciation |
-83.4 |
-68.9 |
-59.7 |
-58.7 |
-45.9 |
|
Provision for Impairment of Fixed
Assets |
-0.6 |
-0.5 |
-1.0 |
-1.0 |
-1.0 |
|
Prepay for Equip.&Construction
in Progr |
6.1 |
0.3 |
1.9 |
1.6 |
8.9 |
|
Patent |
0.0 |
0.1 |
0.3 |
0.4 |
1.0 |
|
Software Cost |
2.2 |
1.0 |
0.7 |
1.0 |
1.1 |
|
Deferred Pension Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Land Use Right |
4.6 |
3.8 |
3.9 |
3.7 |
3.5 |
|
Deferred Charges and Others |
6.4 |
6.9 |
7.8 |
7.5 |
6.9 |
|
Total Assets |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
18.6 |
0.1 |
1.0 |
18.7 |
13.2 |
|
Accounts Payable |
140.8 |
126.1 |
- |
- |
- |
|
Notes and Accounts Payable |
- |
- |
97.6 |
103.5 |
82.9 |
|
Accrued Expenses & Other
Current Liab. |
47.8 |
36.3 |
33.1 |
26.8 |
27.7 |
|
Current Portion of Corporate Bonds
Pybl. |
- |
- |
- |
- |
3.0 |
|
Derivative financial liabilities |
8.5 |
3.7 |
12.3 |
0.2 |
- |
|
Other Current Liab. |
7.3 |
5.9 |
5.5 |
6.0 |
2.3 |
|
Total Current Liabilities |
223.1 |
172.1 |
149.5 |
155.2 |
129.1 |
|
|
|
|
|
|
|
|
Accrued Pension Liabilities |
9.3 |
7.2 |
6.1 |
6.4 |
5.5 |
|
Deferred Income Tax Liabilities
& Other |
8.0 |
8.3 |
6.3 |
4.9 |
3.9 |
|
Minority Interest |
12.8 |
12.2 |
11.0 |
9.9 |
9.2 |
|
Total Liabilities |
253.1 |
199.7 |
172.9 |
176.4 |
147.7 |
|
|
|
|
|
|
|
|
Common Stock |
173.3 |
156.3 |
150.2 |
148.3 |
146.2 |
|
Additional Paid-In Capital |
26.6 |
23.8 |
22.5 |
22.8 |
31.0 |
|
Capital Gain on F.A
Disposal/Others |
0.9 |
0.6 |
0.6 |
0.6 |
0.3 |
|
Legal Reserve |
9.1 |
5.1 |
2.2 |
- |
13.7 |
|
Special Reserve |
- |
- |
- |
- |
0.0 |
|
Retained Earnings |
39.7 |
34.9 |
28.4 |
22.3 |
-23.6 |
|
Cumulative Translation Adjustment |
4.0 |
6.1 |
7.6 |
3.8 |
1.4 |
|
Unrealised Gain/Loss on Pension
Fund |
-4.5 |
-3.1 |
-2.5 |
-3.0 |
-2.5 |
|
Treasury Stock |
- |
- |
- |
- |
-5.8 |
|
Total Equity |
249.1 |
223.7 |
209.0 |
194.8 |
160.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
502.3 |
423.4 |
381.9 |
371.1 |
308.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
Total Common Shares Outstanding |
505.4 |
500.1 |
495.5 |
493.2 |
469.6 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
- |
18.7 |
|
Full-Time Employees |
9,263 |
8,448 |
7,043 |
7,729 |
6,750 |
|
Number of Shareholders |
34,481 |
35,833 |
17,161 |
15,153 |
13,632 |
|
Accumulated Benefit Obligation |
12.0 |
9.4 |
7.9 |
8.0 |
8.5 |
|
Benefit Obligation |
17.0 |
13.5 |
11.6 |
9.4 |
10.9 |
|
Fair Value of Plan Assets |
3.7 |
3.1 |
2.8 |
1.6 |
3.9 |
|
Funded Status |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Total Funded Status |
-13.3 |
-10.4 |
-8.9 |
-7.8 |
-7.0 |
|
Discount Rate |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
5.00% |
2.00% |
2.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.75% |
2.75% |
2.50% |
|
Deferred Pension Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Accrued Pension Liabilities |
-9.3 |
-7.2 |
-6.1 |
-6.4 |
-5.5 |
|
Net Assets Recognized on Balance Sheet |
-9.2 |
-7.1 |
-6.0 |
-6.2 |
-5.4 |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
28.7235 |
29.4065 |
29.1565 |
31.2415 |
32.1315 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalent |
54.1 |
52.0 |
55.2 |
70.1 |
73.2 |
|
Financial Assets-Fair Value
through P/L, |
12.4 |
12.0 |
19.1 |
8.4 |
13.6 |
|
Notes Receivable |
0.3 |
0.1 |
0.1 |
1.0 |
2.9 |
|
Accounts Receivable,Gross |
162.4 |
129.1 |
137.3 |
153.6 |
142.9 |
|
Provision for Doubtful Accounts |
-0.5 |
-0.4 |
-0.5 |
-0.3 |
-0.3 |
|
Provision for Sales Discount |
0.0 |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
|
Notes&Account Receivable -
Related |
16.1 |
17.8 |
19.2 |
14.8 |
13.3 |
|
Other Financial Assets - Current |
1.6 |
2.8 |
7.9 |
7.0 |
3.2 |
|
Finished Goods |
44.3 |
37.2 |
32.6 |
27.7 |
22.1 |
|
Work-in-Process |
13.4 |
13.1 |
9.4 |
16.1 |
6.2 |
|
Raw Materials |
51.0 |
49.2 |
45.0 |
46.2 |
44.6 |
|
Goods in Transit |
7.0 |
6.8 |
7.6 |
1.4 |
2.5 |
|
Assets for Sale,Non-current |
0.0 |
- |
- |
- |
0.4 |
|
Deferred Tax Assets&Other
Current Assets |
10.7 |
8.0 |
5.9 |
7.3 |
8.2 |
|
Restricted Assets,Current |
0.0 |
0.0 |
0.0 |
0.7 |
0.6 |
|
Financial Assets for
Hedging,Current |
4.8 |
6.5 |
8.1 |
4.1 |
6.8 |
|
Total Current Assets |
377.6 |
333.9 |
346.6 |
357.9 |
340.0 |
|
|
|
|
|
|
|
|
LT Equity Investment |
0.3 |
0.3 |
0.4 |
0.4 |
0.4 |
|
Financial Assets-Fair
Value,Non-Current |
2.0 |
1.5 |
1.1 |
0.7 |
0.4 |
|
Financial Assets at Cost |
3.1 |
3.7 |
4.3 |
6.1 |
4.9 |
|
Debt Investments Non-active,
Non-current |
31.1 |
30.1 |
30.1 |
27.8 |
26.8 |
|
Land and Improvements |
24.3 |
23.7 |
23.9 |
22.4 |
21.7 |
|
Buildings |
73.0 |
69.9 |
65.9 |
59.6 |
60.7 |
|
Machinery and Equipment |
80.2 |
76.3 |
77.2 |
70.2 |
64.6 |
|
Test Equipment |
14.8 |
13.3 |
12.4 |
10.8 |
10.7 |
|
Other Equipment |
5.6 |
5.2 |
4.9 |
4.7 |
4.5 |
|
Accumulated Depreciation |
-86.5 |
-83.4 |
-83.4 |
-74.4 |
-73.3 |
|
Provision for Impairment of Fixed
Assets |
-0.6 |
-0.6 |
-0.6 |
-0.5 |
-0.5 |
|
Prepay for Equip.&Construction
in Progr |
4.1 |
4.8 |
6.1 |
5.0 |
3.9 |
|
Patent |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Computer Software Cost |
1.9 |
2.0 |
2.2 |
1.7 |
1.3 |
|
Deferred Pension Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Land Use Rights |
5.7 |
5.7 |
4.6 |
3.8 |
3.7 |
|
Deferred Charges and Others |
5.9 |
5.9 |
6.4 |
5.0 |
5.0 |
|
Total Assets |
542.5 |
492.5 |
502.3 |
501.1 |
475.1 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
23.1 |
12.6 |
18.6 |
15.2 |
3.3 |
|
Notes and Accounts Payable |
167.7 |
- |
- |
167.2 |
156.5 |
|
Accounts Payable - Related Parties |
- |
0.3 |
- |
- |
- |
|
Accounts Payable |
- |
140.4 |
140.8 |
- |
- |
|
Cash Dividends Payable |
23.0 |
- |
- |
- |
25.7 |
|
Accrued Expenses & Other
Current Liab. |
41.0 |
42.3 |
47.8 |
43.4 |
36.2 |
|
Derivative financial liabilities |
4.4 |
5.7 |
8.5 |
4.2 |
6.1 |
|
Other Current Liabilities |
12.9 |
10.6 |
7.3 |
10.7 |
5.1 |
|
Total Current Liabilities |
272.0 |
211.9 |
223.1 |
240.7 |
232.8 |
|
|
|
|
|
|
|
|
Accrued Pension Liabilities |
9.7 |
9.4 |
9.3 |
7.6 |
7.3 |
|
Deferred Income Tax & Other
Liab. |
11.0 |
7.8 |
8.0 |
8.1 |
8.9 |
|
Minority Interest |
12.6 |
12.8 |
12.8 |
12.7 |
12.6 |
|
Total Liabilities |
305.2 |
241.8 |
253.1 |
269.1 |
261.6 |
|
|
|
|
|
|
|
|
Common Stock |
176.8 |
172.5 |
173.3 |
160.4 |
155.9 |
|
Stock Dividend for Distribution |
- |
- |
- |
- |
0.0 |
|
Additional Paid-In Capital |
27.3 |
26.6 |
26.6 |
24.5 |
23.8 |
|
Other Paid-In Capital |
1.1 |
1.0 |
0.9 |
0.7 |
0.6 |
|
Legal Reserve |
12.7 |
9.1 |
9.1 |
8.5 |
8.3 |
|
Special Reserve |
0.5 |
- |
- |
- |
- |
|
Retained Earnings |
19.3 |
41.4 |
39.7 |
35.3 |
21.3 |
|
Cumulative Translation Adjustment |
4.1 |
4.5 |
4.0 |
6.0 |
6.8 |
|
Unrealised Gain/Loss on Pension
Fund |
-4.5 |
-4.4 |
-4.5 |
-3.2 |
-3.1 |
|
Total Equity |
237.3 |
250.7 |
249.1 |
232.0 |
213.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
542.5 |
492.5 |
502.3 |
501.1 |
475.1 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
508.0 |
507.4 |
505.4 |
501.0 |
500.8 |
|
Total Common Shares Outstanding |
508.0 |
507.4 |
505.4 |
501.0 |
500.8 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Full-Time Employees |
- |
- |
9,263 |
- |
10,939 |
|
Deferred Pension Cost |
- |
0.1 |
0.1 |
0.1 |
0.1 |
|
Accrued Pension Liabilities |
- |
-9.4 |
-9.3 |
-7.6 |
-7.3 |
|
Net Assets Recognized on Balance Sheet |
- |
-9.3 |
-9.2 |
-7.5 |
-7.2 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
31.4 |
32.6 |
29.2 |
22.0 |
-32.6 |
|
Depreciation |
15.9 |
14.7 |
12.3 |
10.4 |
11.6 |
|
Impairment Loss on Assets |
2.0 |
1.7 |
1.1 |
- |
0.2 |
|
Equity Investment Gain/Loss |
0.1 |
0.0 |
1.4 |
0.6 |
- |
|
G/L on Disposal&Write-off of
Properties |
-0.6 |
- |
- |
- |
- |
|
G/L on Valuation of
Inventory/Obsoles. |
0.0 |
-0.4 |
1.4 |
1.3 |
35.3 |
|
Employee Stock Option Cost |
0.2 |
- |
- |
- |
- |
|
Financial Assets Revaluation Adj
Loss |
- |
- |
- |
- |
44.5 |
|
Financial Assets-Fair Value,
Current |
5.3 |
0.6 |
20.6 |
0.0 |
- |
|
Notes&Account Receivable |
3.0 |
-14.7 |
-10.5 |
-34.1 |
10.5 |
|
Inventories |
-24.8 |
-2.0 |
6.2 |
-28.0 |
-26.7 |
|
Prepayment & Other Current
Assets |
0.2 |
- |
- |
- |
0.1 |
|
Restricted Assets |
0.6 |
- |
- |
- |
- |
|
Other Financial Assets |
-5.0 |
- |
- |
- |
- |
|
Notes and Accounts Payable |
- |
- |
-4.9 |
20.0 |
-7.2 |
|
Accrued Expenses&Other
Payables |
7.1 |
3.2 |
7.5 |
2.8 |
1.5 |
|
Accounts Payable |
2.3 |
25.1 |
- |
- |
- |
|
Financial Assets for
Hedging,Current |
-3.8 |
9.2 |
- |
- |
- |
|
Financial Liability for
Hedging,Current |
4.1 |
-8.7 |
- |
- |
- |
|
Deferred Tax Liabilities |
-1.1 |
3.0 |
- |
- |
- |
|
Others |
-0.2 |
0.9 |
1.5 |
-1.7 |
2.2 |
|
Cash from Operating Activities |
36.7 |
65.2 |
65.8 |
-6.8 |
39.4 |
|
|
|
|
|
|
|
|
Financial Assets - Cost |
-1.0 |
0.0 |
-2.9 |
- |
- |
|
Capital Expenditure |
-17.7 |
-9.0 |
-7.1 |
-9.3 |
-13.1 |
|
Disposal of Fixed Assets |
1.3 |
- |
- |
- |
- |
|
Deferred Charges |
-6.5 |
-5.0 |
-3.9 |
-3.5 |
-5.0 |
|
Redemption of Convertible Bonds
Payable |
0.0 |
-30.3 |
- |
- |
- |
|
Land Use Right Increase |
-0.6 |
- |
- |
- |
- |
|
Others |
0.3 |
- |
- |
- |
- |
|
Cash from Investing Activities |
-24.3 |
-44.3 |
-13.9 |
-12.9 |
-18.1 |
|
|
|
|
|
|
|
|
Purchase of Treasury Stock |
- |
- |
- |
- |
-5.8 |
|
Transfer of Treasury Stock |
- |
- |
0.0 |
5.8 |
- |
|
Short Term Borrowings,
Increase/Decrease |
17.2 |
-0.9 |
-18.2 |
5.4 |
6.9 |
|
Redemption of Corporate Bonds |
- |
- |
- |
- |
-52.0 |
|
Cash Dividend Paid |
-26.2 |
-22.4 |
- |
- |
- |
|
Employee Bonus/Directors'
Remuneration |
- |
- |
-16.0 |
- |
- |
|
Dividend,Employee Bonus,Directors
Remun. |
- |
- |
- |
- |
-9.0 |
|
Minority Interest Increase |
- |
- |
- |
0.0 |
3.5 |
|
Others |
0.5 |
0.0 |
0.0 |
- |
- |
|
Employee Stock Option Exercised |
2.2 |
1.2 |
- |
- |
- |
|
Cash from Financing Activities |
-6.4 |
-22.1 |
-34.1 |
11.2 |
-56.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.0 |
-0.7 |
0.7 |
1.5 |
1.5 |
|
Net Change in Cash |
2.1 |
-1.9 |
18.4 |
-6.9 |
-33.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
49.0 |
48.7 |
32.6 |
38.2 |
74.5 |
|
Net Cash - Ending Balance |
51.1 |
46.8 |
51.0 |
31.3 |
41.0 |
|
Cash Interest Paid |
0.1 |
0.0 |
0.3 |
0.3 |
0.2 |
|
Cash Taxes Paid |
6.6 |
5.0 |
2.2 |
0.9 |
2.3 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual
units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate (Period
Average) |
29.074238 |
29.305764 |
31.497037 |
31.886422 |
31.875049 |
|
|
|
|
|
|
|
|
Net Income |
5.4 |
1.9 |
31.4 |
29.4 |
16.4 |
|
Depreciation |
8.6 |
4.2 |
15.9 |
11.7 |
8.1 |
|
Prov. for Inventory Devaluation
& Obsole |
- |
0.0 |
0.0 |
0.2 |
- |
|
Equity Investment Loss |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Gain/Loss on Financial Assets
Valuation |
-0.9 |
- |
- |
- |
- |
|
Impairment loss |
1.3 |
0.7 |
2.0 |
- |
- |
|
Gain/Loss on Disposal of
Properties |
- |
- |
-0.6 |
-0.6 |
- |
|
Compensation Cost of Employee
Stock Opti |
0.3 |
0.1 |
0.2 |
0.0 |
- |
|
Financial Assets-Fair Value
through P/L |
6.9 |
7.0 |
5.3 |
14.5 |
9.0 |
|
Inc. in Notes and Accounts
Receivable |
-19.8 |
8.3 |
3.0 |
-20.1 |
-14.2 |
|
Inventory Increase/Decrease |
-19.5 |
-12.7 |
-24.8 |
-27.8 |
-14.1 |
|
Prepayment&Other Current
Assets |
-3.0 |
-2.3 |
0.2 |
-1.5 |
-3.1 |
|
Restricted Assets |
- |
- |
0.6 |
0.0 |
0.0 |
|
Notes and Accounts Payable |
24.4 |
1.1 |
- |
- |
- |
|
Accounts Payable |
- |
- |
2.3 |
37.3 |
31.2 |
|
Accrued Exp.&Other Current Liabilities |
-2.0 |
-0.5 |
7.1 |
11.1 |
-1.7 |
|
Other Financial Assets |
6.3 |
5.1 |
-5.0 |
-4.6 |
- |
|
Deferred Tax Liabilities |
1.8 |
0.4 |
-1.1 |
-1.0 |
- |
|
Other Current Liabilities |
- |
- |
- |
- |
-1.0 |
|
Financial Assets for Hedging,Current |
3.4 |
1.5 |
-3.8 |
-0.4 |
-3.2 |
|
Financial Liability for
Hedging,Current |
-4.2 |
-2.8 |
4.1 |
0.4 |
2.4 |
|
Others |
-0.3 |
-0.6 |
-0.2 |
-0.3 |
0.6 |
|
Cash from Operating Activities |
8.6 |
11.5 |
36.7 |
48.6 |
30.3 |
|
|
|
|
|
|
|
|
Long Term Equity Investment |
- |
- |
- |
-1.0 |
- |
|
Redemption of Convertible Bonds
Payable |
- |
- |
0.0 |
0.0 |
- |
|
Financial Assets - Cost Method,
Non-Cur. |
- |
- |
-1.0 |
- |
- |
|
Capital Expenditure |
-12.4 |
-8.6 |
-17.7 |
-14.0 |
-6.6 |
|
Disposal of Fixed Assets |
- |
- |
1.3 |
1.2 |
- |
|
Deferred Charges |
- |
-1.7 |
-6.5 |
-4.5 |
-1.6 |
|
Deferred Charges&Intangibles |
-3.8 |
- |
- |
- |
- |
|
Land Use Right Increase |
- |
-0.2 |
-0.6 |
- |
- |
|
Other |
0.8 |
0.9 |
0.3 |
1.0 |
- |
|
Cash from Investing Activities |
-15.4 |
-9.6 |
-24.3 |
-17.3 |
-8.2 |
|
|
|
|
|
|
|
|
Short Term Borrowings,
Increase/Decrease |
4.1 |
-5.9 |
17.2 |
14.8 |
3.2 |
|
Employee Stock Option Exercised |
1.2 |
0.9 |
2.2 |
0.4 |
0.3 |
|
Dividend/Employee
Bonus/Remuneration |
- |
- |
- |
-25.9 |
- |
|
Cash Dividend Paid |
- |
- |
-26.2 |
- |
- |
|
Others |
-0.5 |
-0.3 |
0.5 |
0.4 |
0.3 |
|
Cash from Financing Activities |
4.7 |
-5.3 |
-6.4 |
-10.3 |
3.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.1 |
0.7 |
-4.0 |
-0.8 |
-0.6 |
|
Net Change in Cash |
-2.0 |
-2.7 |
2.1 |
20.2 |
25.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
55.4 |
54.9 |
49.0 |
48.4 |
48.5 |
|
Net Cash - Ending Balance |
53.4 |
52.2 |
51.1 |
68.6 |
73.8 |
|
Cash Interest Paid |
0.1 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Cash Taxes Paid |
3.5 |
0.3 |
6.6 |
4.1 |
3.3 |
Geographic Segment
Financials in: As Reported (mil)
|
Annual |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.87 |
|
UK Pound |
1 |
Rs.78.11 |
|
Euro |
1 |
Rs.68.36 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.