MIRA INFORM REPORT
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Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
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Name : |
WISTRON NEWEB CORP. |
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Registered Office : |
10-1 Li-Hsin Road, 1 Hsinchu Science-Based Park, Hsinchu |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.12.1996 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
manufacture and distribution
of communication products |
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 : |
No Complaints |
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Litigation : |
--- |
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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
Wistron NeWeb Corp.
10-1 Li-Hsin Road
1 Hsinchu Science-Based Park
Hsinchu
Hsinchu,
Taiwan
Tel: 886-3-6667799
Fax: 886-3-6667323
Web: www.wneweb.com.tw
Synthesis
Employees: 8,652
Company Type: Public Independent
Traded: Taiwan
Stock Exchange: 6285
Incorporation Date:
07-Dec-1996
Auditor: KPMG Peat Marwick LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency:
Taiwanese New Dollar
Annual Sales: 868.0
1
Net Income: 49.2
Total Assets:
624.3 2
Market Value: 687.4
(28-Oct-2011)
Business Description
Wistron NeWeb Corporation
is principally engaged in the manufacture and distribution of communication
products. The Company provides satellite communication products, including
satellite television (TV) antennas, digital satellite radio receiving systems,
digital broadcasting receiving systems, single cable outdoor receiving and
sending systems and related products, as well as wireless communication and
broadband network products, including wireless communication products and
broadband network products, such as third generation (3G) smart mobile phones,
code division multiple access (CDMA) phones, network cards, routers, modules,
digital household network communication terminals and wireless switches, among
others. During the year ended December 31, 2010, the Company obtained
approximately 50.04% and 45.13% of its total revenue from satellite
communication products and mobile communication products, respectively. For the
six months ended 30 June 2011, Wistron NeWeb Corporation's revenues increased
47% to NT$15.54B. Net income increased 26% to NT$793.51M. Total revenues
reflect higher sales volume due to increased market demand for the Company's
products. Net income was partially offset by inclusion foreign exchange losses,
higher interest expense, higher selling expense, as well as higher general
administrative expenses.
Industry
Industry Communications Equipment
ANZSIC 2006: 2422 -
Communication Equipment Manufacturing
NACE 2002: 3220 - Manufacture
of television and radio transmitters and apparatus for line telephony and line
telegraphy
NAICS 2002: 33429 - Other
Communications Equipment Manufacturing
UK SIC 2003: 3220 - Manufacture
of television and radio transmitters and apparatus for line telephony and line
telegraphy
US SIC 1987: 3669 -
Communications Equipment, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Hongbo Xie |
Vice Chairman of the Board, Chief Executive Officer |
|
Fenqiong Song |
Chief Financial Officer |
|
Jianrong Gao |
Chief Operating Officer, Director |
|
Fayu Chen |
Deputy General Manager |
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Haydn Hong Po Hsieh |
President & Chief Executive Officer |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
Expansion / New Markets / New Units |
1 |
Wistron NeWeb Corp. to Invest in Mainland China |
20-Apr-2011 |
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Debt Financing / Related |
1 |
Wistron NeWeb Corp. to Issue unsecured Convertible Corporate Bonds |
20-Apr-2011 |
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Dividends |
2 |
Wistron NeWeb Corp. Adjusts FY 2010 Dividend Payment; Announces
Dividend Payment Date |
14-Jul-2011 |
* number of significant developments within
the last 12 months
news
|
Title |
Date |
|
WNC SHARES
JUMP TO HIGHEST LEVEL IN YEARS ON TAIWAN BOURSE |
19-Apr-2011 |
|
Australia
Patent: Ohio State University Research Foundation and Wistron Neweb Files
Application for 'Elongated twin feed line RFID antenna with... |
6-Apr-2011 |
Financial Summary
As of 30-Jun-2011
Key Ratios Company Industry
Current Ratio (MRQ) 1.44 3.07
Quick Ratio (MRQ) 1.11 2.60
Debt to Equity (MRQ) 1.17 0.27
Sales 5 Year Growth 12.12 14.13
Net Profit Margin (TTM) % 5.30 17.97
Return on Assets (TTM) % 9.29 7.97
Return on Equity (TTM) % 22.72 14.12
Stock Snapshot
|
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
10-1 Li-Hsin Road
1 Hsinchu Science-Based Park
Hsinchu
Hsinchu, Taiwan
Tel: 886-3-6667799
Fax: 886-3-6667323
Web: www.wneweb.com.tw
Quote Symbol - Exchange
6285 - Taiwan
Stock Exchange
Sales TWD(mil): 27,338.4
Assets TWD(mil): 18,201.3
Employees: 8,652
Fiscal Year End: 31-Dec-2010
Industry: Communications
Equipment
Incorporation Date: 07-Dec-1996
Company Type: Public
Independent
Quoted Status: Quoted
Vice Chairman
of the Board,
Chief Executive Officer: Hongbo
Xie
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Executives
· Financial Information
· Home Page
· Investor Relations
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2422 - Communication Equipment Manufacturing
2421 - Computer and Electronic Office Equipment Manufacturing
NACE 2002 Codes:
3002 - Manufacture of computers and other information processing
equipment
3220 - Manufacture of television and radio transmitters and
apparatus for line telephony and line telegraphy
NAICS 2002 Codes:
334119 - Other Computer Peripheral Equipment Manufacturing
33429 - Other Communications Equipment Manufacturing
US SIC 1987:
3669 - Communications Equipment, Not Elsewhere Classified
3577 - Computer Peripheral Equipment, Not Elsewhere Classified
UK SIC 2003:
3220 - Manufacture of television and radio transmitters and
apparatus for line telephony and line telegraphy
3002 - Manufacture of computers and other information processing
equipment
Business
Description
Wistron NeWeb
Corporation is principally engaged in the manufacture and distribution of
communication products. The Company provides satellite communication products,
including satellite television (TV) antennas, digital satellite radio receiving
systems, digital broadcasting receiving systems, single cable outdoor receiving
and sending systems and related products, as well as wireless communication and
broadband network products, including wireless communication products and
broadband network products, such as third generation (3G) smart mobile phones,
code division multiple access (CDMA) phones, network cards, routers, modules,
digital household network communication terminals and wireless switches, among
others. During the year ended December 31, 2010, the Company obtained
approximately 50.04% and 45.13% of its total revenue from satellite
communication products and mobile communication products, respectively. For the
six months ended 30 June 2011, Wistron NeWeb Corporation's revenues increased
47% to NT$15.54B. Net income increased 26% to NT$793.51M. Total revenues
reflect higher sales volume due to increased market demand for the Company's
products. Net income was partially offset by inclusion foreign exchange losses,
higher interest expense, higher selling expense, as well as higher general
administrative expenses.
More Business
Descriptions
· Manufacture of satellite communications including mobile telephones and television set-top boxes
· Other Communications Equipment Manufacturing
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Executive report
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Board of
Directors |
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Chairman of the Board, Chief Strategy Officer |
Chairman |
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Chairman |
Chairman |
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Vice Chairman of the Board, Chief Executive Officer |
Vice-Chairman |
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Chief Operating Officer, 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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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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Executives |
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President & Chief Executive Officer |
Chief Executive Officer |
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Vice Chairman of the Board, Chief Executive Officer |
Chief Executive Officer |
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Chief Operating Officer, Director |
Operations Executive |
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Chief Operating Officer |
Operations Executive |
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Chief Financial Officer |
Finance Executive |
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Chief Financial Officer |
Finance Executive |
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Chief Financial Officer |
Finance Executive |
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Manager-Investor Relations |
Investment Executive |
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Senior Director-Investor Relations & Marketing Center |
Investment Executive |
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Deputy General Manager |
Other |
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Vice President |
Other |
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Vice President |
Other |
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Vice President |
Other |
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Deputy General Manager |
Other |
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Deputy General Manager |
Other |
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Deputy General Manager |
Other |
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Deputy General Manager |
Other |
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Significant Developments
Wistron NeWeb
Corp. Adjusts FY 2010 Dividend Payment; Announces Dividend Payment Date Jul 14,
2011
Wistron NeWeb
Corp. announced that it has adjusted its cash dividends for fiscal year 2010
from NTD 3,500 per 1,000 shares to NTD 3,498.21442 per 1,000 shares, and also
adjusted stock dividends from distributing 50 new shares for every 1,000 shares
to 49.97449 new shares for every 1,000 shares. The Company will distribute the
dividends to shareholders of record on August 17, 2011. The Company's shares
will be traded ex-dividend and ex-right on August 11, 2011.
Wistron NeWeb
Corp. to Invest in Mainland China Apr 20, 2011
Wistron NeWeb
Corp. announced that it will invest RMB invest USD 5 million to indirectly set
up a subsidiary in Chongqing, Mainland China.
Wistron NeWeb
Corp. to Issue unsecured Convertible Corporate Bonds Apr 20, 2011
Wistron NeWeb Corp. announced that it will issue up to NTD 1.5 billion
worth of unsecured convertible corporate bonds, each with par value and an
issue price of NTD 100,000, and a term of three years.
Wistron NeWeb Corp. Announces FY 2010 Dividend Payment Apr 20, 2011
Wistron NeWeb Corp. announced that it will pay a cash dividend of NTD
953,125,250 (NTD 3.5 per share), and distribute stock dividends worth NTD
136,160,750 (NTD 0.5 per share), to shareholders for fiscal year 2010.
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 |
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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 |
Updated Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
32.525305 |
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Auditor |
KPMG Peat
Marwick LLP |
KPMG Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
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Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
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Net Sales |
5.5 |
5.6 |
3.6 |
- |
- |
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Gross Revenue |
867.1 |
479.0 |
616.5 |
536.1 |
579.3 |
|
Sales Returns and Allowances |
-4.6 |
-3.0 |
-9.7 |
-5.8 |
-6.5 |
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Revenue |
868.0 |
481.6 |
610.4 |
530.2 |
572.8 |
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Other Revenue |
- |
- |
- |
5.7 |
7.5 |
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Other Revenue, Total |
- |
- |
- |
5.7 |
7.5 |
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Total Revenue |
868.0 |
481.6 |
610.4 |
535.9 |
580.3 |
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Cost of Revenue |
717.5 |
388.5 |
508.4 |
446.7 |
477.9 |
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Cost of Revenue, Total |
717.5 |
388.5 |
508.4 |
446.7 |
477.9 |
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Gross Profit |
150.5 |
93.0 |
102.0 |
83.5 |
94.9 |
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Selling/General/Administrative Expense |
48.8 |
31.9 |
43.5 |
28.5 |
38.4 |
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Total Selling/General/Administrative Expenses |
48.8 |
31.9 |
43.5 |
28.5 |
38.4 |
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Research & Development |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
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Impairment-Assets Held for Use |
- |
0.0 |
0.9 |
- |
- |
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Unusual Expense (Income) |
- |
0.0 |
0.9 |
- |
- |
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Total Operating Expense |
805.7 |
449.4 |
581.0 |
499.5 |
539.2 |
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Operating Income |
62.2 |
32.2 |
29.4 |
36.5 |
41.1 |
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Interest Expense -
Non-Operating |
-1.7 |
-1.9 |
-4.2 |
-4.1 |
-2.0 |
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Interest Expense, Net Non-Operating |
-1.7 |
-1.9 |
-4.2 |
-4.1 |
-2.0 |
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Interest Income -
Non-Operating |
0.5 |
0.3 |
1.4 |
1.1 |
0.7 |
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Investment Income -
Non-Operating |
-1.6 |
1.0 |
3.4 |
2.4 |
-0.1 |
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Interest/Investment Income - Non-Operating |
-1.1 |
1.3 |
4.8 |
3.5 |
0.6 |
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Interest Income (Expense) - Net Non-Operating Total |
-2.8 |
-0.6 |
0.6 |
-0.5 |
-1.4 |
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Other Non-Operating Income (Expense) |
4.0 |
1.0 |
0.1 |
0.5 |
0.0 |
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Other, Net |
4.0 |
1.0 |
0.1 |
0.5 |
0.0 |
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Income Before Tax |
63.5 |
32.6 |
30.2 |
36.5 |
39.8 |
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Total Income Tax |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
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Income After Tax |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
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Net Income Before Extraord Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
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Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
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Income Available to Common Excl Extraord Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
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Income Available to Common Incl Extraord Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
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Basic/Primary Weighted Average Shares |
274.7 |
270.5 |
268.8 |
268.0 |
257.2 |
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Basic EPS Excl Extraord Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
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Basic/Primary EPS Incl Extraord Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
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Diluted Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
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Diluted Weighted Average Shares |
285.1 |
276.1 |
277.5 |
268.6 |
259.1 |
|
Diluted EPS Excl Extraord Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
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Diluted EPS Incl Extraord Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
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Dividends per Share - Common Stock Primary Issue |
0.11 |
0.05 |
0.03 |
0.05 |
0.06 |
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Gross Dividends - Common Stock |
30.3 |
13.5 |
7.3 |
12.0 |
15.0 |
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Interest Expense, Supplemental |
1.7 |
1.9 |
4.2 |
4.1 |
2.0 |
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Depreciation, Supplemental |
17.2 |
13.5 |
13.4 |
13.0 |
11.2 |
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Total Special Items |
- |
0.0 |
0.9 |
- |
- |
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Normalized Income Before Tax |
63.5 |
32.6 |
31.1 |
36.5 |
39.8 |
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Effect of Special Items on Income Taxes |
- |
0.0 |
0.2 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
14.3 |
7.7 |
7.5 |
4.0 |
3.3 |
|
Normalized Income After Tax |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
|
|
|
|
|
|
|
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Normalized Inc. Avail to Com. |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
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|
|
|
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Basic Normalized EPS |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Diluted Normalized EPS |
0.17 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Amort of Intangibles, Supplemental |
3.6 |
3.0 |
3.6 |
3.0 |
2.2 |
|
Research & Development Exp, Supplemental |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
|
Normalized EBIT |
62.2 |
32.2 |
30.3 |
36.5 |
41.1 |
|
Normalized EBITDA |
83.1 |
48.7 |
47.3 |
52.4 |
54.6 |
|
Current Tax - Total |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Current Tax - Total |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Deferred Tax - Total |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Deferred Tax - Total |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Income Tax - Total |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
|
Interest Cost - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Service Cost - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Expected Return on Assets - Domestic |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Transition Costs - Domestic |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Total Pension Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Total Plan Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Plan Service Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Plan Expected Return |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
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 |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
|
Auditor |
KPMG Peat
Marwick LLP |
KPMG Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
136.3 |
82.7 |
82.0 |
57.7 |
45.2 |
|
Short Term Investments |
11.5 |
45.9 |
29.7 |
65.0 |
46.8 |
|
Cash and Short Term Investments |
147.9 |
128.7 |
111.7 |
122.7 |
92.0 |
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Accounts Receivable -
Trade, Gross |
193.7 |
97.5 |
104.2 |
128.1 |
161.4 |
|
Provision for Doubtful
Accounts |
-7.7 |
-2.0 |
-7.8 |
-0.9 |
-1.1 |
|
Trade Accounts Receivable - Net |
191.3 |
100.0 |
100.6 |
131.0 |
164.7 |
|
Notes Receivable - Short Term |
0.3 |
0.1 |
5.9 |
1.3 |
5.3 |
|
Total Receivables, Net |
191.6 |
100.1 |
106.5 |
132.4 |
170.0 |
|
Inventories - Finished Goods |
62.5 |
27.0 |
46.6 |
32.2 |
20.6 |
|
Inventories - Work In Progress |
7.1 |
2.9 |
2.6 |
4.4 |
6.9 |
|
Inventories - Raw Materials |
35.8 |
26.0 |
21.6 |
26.2 |
29.8 |
|
Inventories - Other |
- |
- |
-1.5 |
-1.7 |
-2.8 |
|
Total Inventory |
105.4 |
55.9 |
69.2 |
61.1 |
54.5 |
|
Deferred Income Tax - Current Asset |
3.8 |
4.2 |
5.5 |
1.5 |
1.6 |
|
Other Current Assets |
6.8 |
2.6 |
3.1 |
2.5 |
2.8 |
|
Other Current Assets, Total |
10.6 |
6.8 |
8.6 |
3.9 |
4.4 |
|
Total Current Assets |
455.4 |
291.5 |
296.1 |
320.2 |
321.0 |
|
|
|
|
|
|
|
|
Buildings |
102.8 |
50.1 |
42.6 |
28.8 |
18.5 |
|
Machinery/Equipment |
119.3 |
78.0 |
77.4 |
68.3 |
56.6 |
|
Construction in
Progress |
3.2 |
37.7 |
17.5 |
8.4 |
5.5 |
|
Property/Plant/Equipment - Gross |
225.3 |
165.8 |
137.5 |
105.5 |
80.5 |
|
Accumulated Depreciation |
-78.6 |
-59.6 |
-49.5 |
-39.6 |
-28.9 |
|
Property/Plant/Equipment - Net |
146.7 |
106.2 |
88.0 |
65.9 |
51.6 |
|
Intangibles, Net |
3.9 |
3.2 |
4.1 |
4.7 |
2.4 |
|
LT Investment - Affiliate Companies |
3.3 |
2.4 |
1.2 |
1.0 |
0.9 |
|
LT Investments - Other |
3.0 |
1.6 |
0.1 |
0.1 |
0.1 |
|
Long Term Investments |
6.2 |
3.9 |
1.3 |
1.2 |
1.1 |
|
Deferred Charges |
11.1 |
7.7 |
8.3 |
8.2 |
3.5 |
|
Pension Benefits - Overfunded |
1.0 |
0.8 |
0.6 |
0.5 |
0.4 |
|
Deferred Income Tax - Long Term Asset |
- |
- |
0.0 |
5.1 |
5.2 |
|
Other Long Term Assets, Total |
12.0 |
8.5 |
8.9 |
13.9 |
9.0 |
|
Total Assets |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
2.6 |
1.9 |
1.2 |
0.7 |
2.5 |
|
Accrued Expenses |
38.9 |
29.3 |
26.4 |
23.6 |
25.3 |
|
Notes Payable/Short Term Debt |
281.7 |
168.1 |
181.2 |
193.4 |
185.2 |
|
Other Current Liabilities |
17.4 |
4.6 |
7.3 |
7.8 |
10.3 |
|
Other Current liabilities, Total |
17.4 |
4.6 |
7.3 |
7.8 |
10.3 |
|
Total Current Liabilities |
340.6 |
203.9 |
216.1 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
281.7 |
168.1 |
181.2 |
193.4 |
185.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
5.0 |
2.1 |
0.4 |
- |
- |
|
Deferred Income Tax |
5.0 |
2.1 |
0.4 |
- |
- |
|
Total Liabilities |
345.6 |
206.1 |
216.5 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Common Stock |
92.0 |
78.8 |
72.1 |
62.1 |
49.7 |
|
Common Stock |
92.0 |
78.8 |
72.1 |
62.1 |
49.7 |
|
Additional Paid-In Capital |
59.2 |
46.6 |
43.5 |
44.0 |
43.6 |
|
Retained Earnings (Accumulated Deficit) |
128.0 |
86.1 |
69.5 |
72.5 |
68.0 |
|
Treasury Stock - Common |
- |
-6.7 |
-6.5 |
- |
- |
|
Unrealized Gain (Loss) |
0.1 |
0.4 |
0.4 |
0.8 |
0.3 |
|
Translation Adjustment |
-2.5 |
1.9 |
2.9 |
0.9 |
0.0 |
|
Other Equity |
1.8 |
0.0 |
- |
0.0 |
0.1 |
|
Other Equity, Total |
-0.7 |
1.9 |
2.9 |
0.9 |
0.1 |
|
Total Equity |
278.7 |
207.3 |
181.9 |
180.4 |
161.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
Total Common Shares Outstanding |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
5.5 |
5.8 |
- |
- |
|
Employees |
8,238 |
5,775 |
4,476 |
6,203 |
4,895 |
|
Number of Common Shareholders |
14,949 |
19,483 |
21,664 |
18,090 |
16,831 |
|
Accumulated Intangible Amort, Suppl. |
3.2 |
4.3 |
3.8 |
- |
- |
|
Pension Obligation - Domestic |
5.1 |
3.9 |
3.4 |
3.4 |
2.7 |
|
Plan Assets - Domestic |
3.9 |
3.1 |
2.7 |
2.4 |
2.1 |
|
Funded Status - Domestic |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Accumulated Obligation - Domestic |
2.6 |
2.0 |
1.6 |
1.6 |
1.5 |
|
Total Funded Status |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Discount Rate - Domestic |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Compensation Rate - Domestic |
4.00% |
4.00% |
4.00% |
5.00% |
4.00% |
|
Prepaid Benefits - Domestic |
1.0 |
0.8 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
1.0 |
0.8 |
- |
- |
- |
|
Total Plan Obligations |
5.1 |
3.9 |
3.4 |
3.4 |
2.7 |
|
Total Plan Assets |
3.9 |
3.1 |
2.7 |
2.4 |
2.1 |
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 |
Reclassified
Normal |
Updated 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 Peat
Marwick LLP |
KPMG Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Depreciation |
17.2 |
13.5 |
17.0 |
16.0 |
13.4 |
|
Depreciation/Depletion |
17.2 |
13.5 |
17.0 |
16.0 |
13.4 |
|
Amortization of Intangibles |
3.6 |
3.0 |
- |
- |
- |
|
Amortization |
3.6 |
3.0 |
- |
- |
- |
|
Deferred Taxes |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Unusual Items |
-0.4 |
-0.1 |
1.2 |
-0.4 |
0.2 |
|
Equity in Net Earnings (Loss) |
-0.8 |
-0.2 |
0.3 |
0.0 |
0.2 |
|
Other Non-Cash Items |
15.2 |
3.8 |
8.9 |
2.1 |
7.4 |
|
Non-Cash Items |
14.0 |
3.5 |
10.4 |
1.7 |
7.8 |
|
Accounts Receivable |
-80.8 |
8.6 |
18.1 |
38.0 |
-91.8 |
|
Inventories |
-45.7 |
11.4 |
-10.7 |
-8.3 |
-13.0 |
|
Prepaid Expenses |
-0.1 |
-0.1 |
- |
- |
- |
|
Other Assets |
-3.3 |
0.4 |
-1.2 |
0.5 |
-1.3 |
|
Accounts Payable |
73.1 |
-14.6 |
-12.7 |
-25.1 |
58.3 |
|
Accrued Expenses |
17.7 |
2.4 |
2.9 |
-4.3 |
16.5 |
|
Changes in Working Capital |
-39.1 |
8.1 |
-3.6 |
0.8 |
-31.3 |
|
Cash from Operating Activities |
49.0 |
56.3 |
47.5 |
50.8 |
23.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-50.6 |
-31.0 |
-34.0 |
-28.6 |
-20.0 |
|
Capital Expenditures |
-50.6 |
-31.0 |
-34.0 |
-28.6 |
-20.0 |
|
Sale of Fixed Assets |
0.0 |
0.4 |
0.0 |
0.7 |
0.0 |
|
Sale/Maturity of Investment |
77.4 |
50.7 |
0.6 |
0.1 |
- |
|
Investment, Net |
-41.8 |
-65.3 |
35.9 |
-17.4 |
-16.1 |
|
Purchase of Investments |
-1.0 |
-2.3 |
-2.4 |
- |
- |
|
Intangible, Net |
-2.1 |
-1.1 |
-2.5 |
- |
- |
|
Other Investing Cash Flow |
-3.3 |
-0.3 |
- |
-9.0 |
-5.0 |
|
Other Investing Cash Flow Items, Total |
29.3 |
-17.9 |
31.7 |
-25.7 |
-21.1 |
|
Cash from Investing Activities |
-21.3 |
-48.9 |
-2.3 |
-54.2 |
-41.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
-14.0 |
-16.4 |
-7.2 |
|
Financing Cash Flow Items |
- |
- |
-14.0 |
-16.4 |
-7.2 |
|
Cash Dividends Paid - Common |
-14.2 |
-7.0 |
- |
- |
- |
|
Total Cash Dividends Paid |
-14.2 |
-7.0 |
- |
- |
- |
|
Sale/Issuance of
Common |
5.5 |
- |
- |
0.0 |
3.0 |
|
Repurchase/Retirement
of Common |
- |
- |
-6.8 |
0.0 |
-3.5 |
|
Common Stock, Net |
5.5 |
- |
-6.8 |
0.0 |
-0.4 |
|
Options Exercised |
7.1 |
- |
0.0 |
0.4 |
1.3 |
|
Issuance (Retirement) of Stock, Net |
12.7 |
- |
-6.8 |
0.4 |
0.8 |
|
Short Term Debt, Net |
17.3 |
-1.9 |
2.8 |
30.6 |
48.9 |
|
Issuance (Retirement) of Debt, Net |
17.3 |
-1.9 |
2.8 |
30.6 |
48.9 |
|
Cash from Financing Activities |
15.9 |
-8.9 |
-17.9 |
14.6 |
42.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.2 |
-1.3 |
1.0 |
-0.2 |
|
Net Change in Cash |
42.2 |
-1.4 |
26.0 |
12.2 |
25.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
84.0 |
81.5 |
59.4 |
44.8 |
20.3 |
|
Net Cash - Ending Balance |
126.2 |
80.1 |
85.4 |
57.0 |
45.3 |
|
Cash Interest Paid |
1.6 |
2.2 |
4.5 |
3.8 |
1.7 |
|
Cash Taxes Paid |
5.4 |
7.4 |
6.2 |
6.3 |
2.6 |
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 |
Updated 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 Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Sales |
867.1 |
479.0 |
616.5 |
536.1 |
579.3 |
|
Sales Discounts and Allowances |
-4.6 |
-3.0 |
-9.7 |
-5.8 |
-6.5 |
|
Other Operating Income |
- |
- |
- |
5.7 |
7.5 |
|
Service Income |
5.5 |
5.6 |
3.6 |
- |
- |
|
Total Revenue |
868.0 |
481.6 |
610.4 |
535.9 |
580.3 |
|
|
|
|
|
|
|
|
Cost of Sales |
717.5 |
388.5 |
508.4 |
446.7 |
477.9 |
|
Selling Expenses |
34.8 |
21.8 |
32.5 |
19.7 |
30.7 |
|
General and Administrative Expenses |
14.1 |
10.1 |
11.1 |
8.8 |
7.7 |
|
Research and Development Expenses |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
|
Impairment Loss |
- |
0.0 |
0.9 |
- |
- |
|
Total Operating Expense |
805.7 |
449.4 |
581.0 |
499.5 |
539.2 |
|
|
|
|
|
|
|
|
Interest Income |
0.5 |
0.3 |
1.4 |
1.1 |
0.7 |
|
Gain on Equity Investment |
0.8 |
0.2 |
- |
- |
- |
|
Gain on Foreign Exchange |
0.0 |
0.7 |
2.3 |
1.5 |
- |
|
Gain on Sale of Investments |
0.4 |
0.1 |
1.4 |
0.9 |
0.6 |
|
Miscellaneous Income |
4.3 |
1.1 |
0.6 |
0.6 |
0.4 |
|
Interest Expense |
-1.7 |
-1.9 |
-4.2 |
-4.1 |
-2.0 |
|
Loss on Equity Investment |
- |
0.0 |
-0.3 |
0.0 |
-0.2 |
|
Foreign Exchange Losses |
-2.8 |
- |
- |
- |
-0.5 |
|
Miscellaneous Disbursements |
-0.2 |
-0.1 |
-0.4 |
-0.1 |
-0.4 |
|
Net Income Before Taxes |
63.5 |
32.6 |
30.2 |
36.5 |
39.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
|
Net Income After Taxes |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
274.7 |
270.5 |
268.8 |
268.0 |
257.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Basic EPS Including ExtraOrdinary Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Diluted Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Diluted Weighted Average Shares |
285.1 |
276.1 |
277.5 |
268.6 |
259.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
|
Diluted EPS Including ExtraOrd Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
|
DPS-Ordinary Shares |
0.11 |
0.05 |
0.03 |
0.05 |
0.06 |
|
Gross Dividends - Common Stock |
30.3 |
13.5 |
7.3 |
12.0 |
15.0 |
|
Normalized Income Before Taxes |
63.5 |
32.6 |
31.1 |
36.5 |
39.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.3 |
7.7 |
7.5 |
4.0 |
3.3 |
|
Normalized Income After Taxes |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Diluted Normalized EPS |
0.17 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Interest Expense, Supplemental |
1.7 |
1.9 |
4.2 |
4.1 |
2.0 |
|
R&D Expense, Supplemental |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
|
Depreciation - Operating Cost |
12.2 |
10.1 |
10.2 |
10.1 |
8.4 |
|
Depreciation - Operating Expenses |
5.0 |
3.4 |
3.2 |
2.9 |
2.8 |
|
Amortization - Operating Cost |
1.5 |
1.2 |
1.3 |
1.5 |
1.4 |
|
Amortization - Operating Expenses |
2.1 |
1.8 |
2.3 |
1.5 |
0.8 |
|
Current Tax |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Current Tax - Total |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Deferred Tax |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Deferred Tax - Total |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Income Tax - Total |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
|
Service Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Expected Return on Plan Assets |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Amort. Transitional Benefit Obligation |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Total Pension Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Discount Rate |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
4.00% |
5.00% |
4.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
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 |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
|
Auditor |
KPMG Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Cash Equivalent |
136.3 |
82.7 |
82.0 |
57.7 |
45.2 |
|
Current Financial Assets - Held for Sale |
11.0 |
45.1 |
29.1 |
64.8 |
46.4 |
|
Notes Receivable |
0.3 |
0.1 |
5.9 |
1.3 |
5.3 |
|
Accounts Receivable, Gross |
193.7 |
97.5 |
104.2 |
128.1 |
161.4 |
|
Provision for Doubtful Accounts |
-7.7 |
-2.0 |
-7.8 |
-0.9 |
-1.1 |
|
Accounts Receivable - Related Parties |
5.3 |
4.5 |
4.1 |
3.8 |
4.4 |
|
Other Financial Assets - Current |
0.5 |
0.8 |
0.6 |
0.2 |
0.4 |
|
Finished Goods |
62.5 |
27.0 |
46.6 |
32.2 |
20.6 |
|
Work-in-Process |
7.1 |
2.9 |
2.6 |
4.4 |
6.9 |
|
Raw Material |
35.8 |
26.0 |
21.6 |
26.2 |
29.8 |
|
Provision/Allowance for Inventory |
- |
- |
-1.5 |
-1.7 |
-2.8 |
|
Other Current Assets |
6.8 |
2.6 |
3.1 |
2.5 |
2.8 |
|
Deferred Income Tax Assets - Current |
3.8 |
4.2 |
5.5 |
1.5 |
1.6 |
|
Total Current Assets |
455.4 |
291.5 |
296.1 |
320.2 |
321.0 |
|
|
|
|
|
|
|
|
Long Term Equity Investment |
3.3 |
2.4 |
1.2 |
1.0 |
0.9 |
|
Financial Assets - Cost Method |
2.7 |
1.5 |
- |
- |
- |
|
Other Financial Assets - Non Current |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Buildings and Structures |
102.8 |
50.1 |
42.6 |
28.8 |
18.5 |
|
Machinery and Equipment |
94.2 |
60.6 |
61.4 |
53.9 |
44.7 |
|
Testing Equipment |
13.3 |
10.1 |
9.2 |
8.5 |
6.9 |
|
Other Facilities |
11.8 |
7.3 |
6.7 |
5.8 |
4.9 |
|
Accumulated Depreciation |
-78.6 |
-59.6 |
-49.5 |
-39.6 |
-28.9 |
|
Con. in Progress & Prepayment for Equ. |
3.2 |
37.7 |
17.5 |
8.4 |
5.5 |
|
Deferred Pension Cost |
1.0 |
0.8 |
0.6 |
0.5 |
0.4 |
|
Deferred Income Tax Assets - Non Current |
- |
- |
0.0 |
5.1 |
5.2 |
|
Intangible Assets Net |
3.9 |
3.2 |
4.1 |
4.7 |
2.4 |
|
Deferred Charges |
11.1 |
7.7 |
8.3 |
8.2 |
3.5 |
|
Total Assets |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
112.7 |
85.7 |
85.4 |
83.7 |
52.4 |
|
Notes&Accounts Payable |
169.0 |
82.5 |
95.7 |
109.7 |
132.8 |
|
Accounts Payable - Related Parties |
2.6 |
1.9 |
1.2 |
0.7 |
2.5 |
|
Accrued Expenses |
11.6 |
12.9 |
11.0 |
10.1 |
13.0 |
|
Salary & Bonus Payable |
27.3 |
16.4 |
15.4 |
13.6 |
12.4 |
|
Other Current Liabilities |
17.4 |
4.6 |
7.3 |
7.8 |
10.3 |
|
Total Current Liabilities |
340.6 |
203.9 |
216.1 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Deferred Tax Liabilities |
5.0 |
2.1 |
0.4 |
- |
- |
|
Total Liabilities |
345.6 |
206.1 |
216.5 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Common Stock |
92.0 |
78.8 |
72.1 |
62.1 |
49.7 |
|
Advance Receipt for Common Stock |
1.8 |
0.0 |
- |
0.0 |
0.1 |
|
Additional Paid-In Capital |
59.2 |
46.6 |
43.5 |
44.0 |
43.6 |
|
Legal Reserve |
22.9 |
18.3 |
15.6 |
12.5 |
8.8 |
|
Special Reserve |
- |
- |
- |
0.0 |
0.5 |
|
Retained Earnings |
105.2 |
67.9 |
53.9 |
60.0 |
58.6 |
|
Unrealized LT Invest./Fin. Ass G/L |
0.1 |
0.4 |
0.4 |
0.8 |
0.3 |
|
Cumulative Translation Adjustment |
-2.5 |
1.9 |
2.9 |
0.9 |
0.0 |
|
Treasury Stock |
- |
-6.7 |
-6.5 |
- |
- |
|
Total Equity |
278.7 |
207.3 |
181.9 |
180.4 |
161.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
Total Common Shares Outstanding |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
T/S-Ordinary Shares |
0.0 |
5.5 |
5.8 |
- |
- |
|
Accumulated Amort. of Intangibles |
3.2 |
4.3 |
3.8 |
- |
- |
|
Full-Time Employees |
8,238 |
5,775 |
4,476 |
6,203 |
4,895 |
|
Number of Common Shareholders |
14,949 |
19,483 |
21,664 |
18,090 |
16,831 |
|
Benefit Obligation |
5.1 |
3.9 |
3.4 |
3.4 |
2.7 |
|
Fair Value of Plan Assets |
3.9 |
3.1 |
2.7 |
2.4 |
2.1 |
|
Funded Status |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Accumulated Benefit Obligation |
2.6 |
2.0 |
1.6 |
1.6 |
1.5 |
|
Total Funded Status |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Discount Rate |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
4.00% |
5.00% |
4.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Prepaid Benefits - Domestic |
1.0 |
0.8 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
1.0 |
0.8 |
- |
- |
- |
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 |
Reclassified
Normal |
Updated 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 Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Depreciation |
17.2 |
13.5 |
17.0 |
16.0 |
13.4 |
|
Amortization of Intangibles |
3.6 |
3.0 |
- |
- |
- |
|
Provision for Bad Debts, Sales Return&Di |
5.1 |
0.3 |
7.1 |
0.0 |
2.0 |
|
Provision for Inventory Devaluation |
4.9 |
3.2 |
1.6 |
2.0 |
5.4 |
|
Equity Investment Gain/Loss |
-0.8 |
-0.2 |
0.3 |
0.0 |
0.2 |
|
Stock Based Payment to Employee Cost |
4.4 |
- |
- |
- |
- |
|
Net Gain/Loss on Disposal of Properties |
- |
- |
- |
0.0 |
0.2 |
|
Gain on Sale of LT Equity Investment |
-0.4 |
-0.1 |
0.3 |
-0.4 |
- |
|
Impairment Loss on Assets |
- |
- |
0.9 |
- |
0.0 |
|
Other Non Cash Items |
0.7 |
0.3 |
0.1 |
0.1 |
- |
|
Note Receivables |
-0.2 |
-0.2 |
- |
- |
- |
|
Accounts Receivable |
-80.2 |
9.1 |
- |
- |
- |
|
Accounts Receivable - Related Party |
-0.3 |
-0.3 |
- |
- |
- |
|
Note/Account Receivables (incl. Related) |
- |
- |
18.1 |
38.0 |
-91.8 |
|
Inventories |
-45.7 |
11.4 |
-10.7 |
-8.3 |
-13.0 |
|
Other Current Assets-Operating |
-3.3 |
0.4 |
-1.2 |
0.5 |
-1.3 |
|
Deferred Tax Assets |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Notes&Accounts Payable |
72.6 |
-15.3 |
-12.7 |
-25.1 |
58.3 |
|
Accrued Expenses and Other Current Liab. |
17.7 |
2.4 |
2.9 |
-4.3 |
16.5 |
|
Accounts Payable - Related Parties |
0.5 |
0.7 |
- |
- |
- |
|
Prepaid Pension |
-0.1 |
-0.1 |
- |
- |
- |
|
Cash from Operating Activities |
49.0 |
56.3 |
47.5 |
50.8 |
23.7 |
|
|
|
|
|
|
|
|
Disposal of Fixed Assets |
0.0 |
0.4 |
0.0 |
0.7 |
0.0 |
|
Capital Expenditure |
-50.6 |
-31.0 |
-34.0 |
-28.6 |
-20.0 |
|
Fin. Assets at Cost Increase |
-1.0 |
-1.5 |
-0.9 |
- |
- |
|
Fin. Assets for Sale-Current |
-41.7 |
-65.4 |
35.9 |
-17.4 |
-17.2 |
|
Financial Assets-Available for Sale,Cur |
77.4 |
50.7 |
- |
- |
- |
|
Sale of LT Equity Investment |
- |
- |
0.6 |
0.1 |
- |
|
Long Term Equity Investment |
0.0 |
-0.8 |
-1.4 |
- |
- |
|
Intangible Assets |
-2.1 |
-1.1 |
-2.5 |
- |
- |
|
Deferred Charges Increase |
-3.3 |
-0.3 |
- |
- |
- |
|
Other Financial Assets |
-0.1 |
0.0 |
0.1 |
0.0 |
1.0 |
|
Other Assets |
- |
- |
- |
-9.0 |
-5.0 |
|
Cash from Investing Activities |
-21.3 |
-48.9 |
-2.3 |
-54.2 |
-41.1 |
|
|
|
|
|
|
|
|
Short Term Borrowings, Net |
17.3 |
-1.9 |
2.8 |
30.6 |
48.9 |
|
Directors Remu., Cash Dividend &Employee |
- |
- |
-14.0 |
-16.4 |
-7.2 |
|
Cash Dividend |
-14.2 |
-7.0 |
- |
- |
- |
|
Iss. of Common Stock fr Stock Option Ex. |
7.1 |
- |
0.0 |
0.4 |
1.3 |
|
Treasury Stock Transfer to Employee |
5.5 |
- |
- |
- |
- |
|
Purchase of Treasury Stock |
- |
- |
-6.8 |
0.0 |
-3.5 |
|
Sale of Treasury Stock |
- |
- |
- |
0.0 |
3.0 |
|
Cash from Financing Activities |
15.9 |
-8.9 |
-17.9 |
14.6 |
42.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.2 |
-1.3 |
1.0 |
-0.2 |
|
Net Change in Cash |
42.2 |
-1.4 |
26.0 |
12.2 |
25.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
84.0 |
81.5 |
59.4 |
44.8 |
20.3 |
|
Net Cash - Ending Balance |
126.2 |
80.1 |
85.4 |
57.0 |
45.3 |
|
Cash Interest Paid |
1.6 |
2.2 |
4.5 |
3.8 |
1.7 |
|
Cash Taxes Paid |
5.4 |
7.4 |
6.2 |
6.3 |
2.6 |
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 |
Updated 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 Peat
Marwick LLP |
KPMG Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
5.5 |
5.6 |
3.6 |
- |
- |
|
Gross Revenue |
867.1 |
479.0 |
616.5 |
536.1 |
579.3 |
|
Sales Returns and Allowances |
-4.6 |
-3.0 |
-9.7 |
-5.8 |
-6.5 |
|
Revenue |
868.0 |
481.6 |
610.4 |
530.2 |
572.8 |
|
Other Revenue |
- |
- |
- |
5.7 |
7.5 |
|
Other Revenue, Total |
- |
- |
- |
5.7 |
7.5 |
|
Total Revenue |
868.0 |
481.6 |
610.4 |
535.9 |
580.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
717.5 |
388.5 |
508.4 |
446.7 |
477.9 |
|
Cost of Revenue, Total |
717.5 |
388.5 |
508.4 |
446.7 |
477.9 |
|
Gross Profit |
150.5 |
93.0 |
102.0 |
83.5 |
94.9 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
48.8 |
31.9 |
43.5 |
28.5 |
38.4 |
|
Total Selling/General/Administrative Expenses |
48.8 |
31.9 |
43.5 |
28.5 |
38.4 |
|
Research & Development |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
|
Impairment-Assets Held for Use |
- |
0.0 |
0.9 |
- |
- |
|
Unusual Expense (Income) |
- |
0.0 |
0.9 |
- |
- |
|
Total Operating Expense |
805.7 |
449.4 |
581.0 |
499.5 |
539.2 |
|
|
|
|
|
|
|
|
Operating Income |
62.2 |
32.2 |
29.4 |
36.5 |
41.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-1.7 |
-1.9 |
-4.2 |
-4.1 |
-2.0 |
|
Interest Expense, Net Non-Operating |
-1.7 |
-1.9 |
-4.2 |
-4.1 |
-2.0 |
|
Interest Income -
Non-Operating |
0.5 |
0.3 |
1.4 |
1.1 |
0.7 |
|
Investment Income - Non-Operating |
-1.6 |
1.0 |
3.4 |
2.4 |
-0.1 |
|
Interest/Investment Income - Non-Operating |
-1.1 |
1.3 |
4.8 |
3.5 |
0.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
-2.8 |
-0.6 |
0.6 |
-0.5 |
-1.4 |
|
Other Non-Operating Income (Expense) |
4.0 |
1.0 |
0.1 |
0.5 |
0.0 |
|
Other, Net |
4.0 |
1.0 |
0.1 |
0.5 |
0.0 |
|
Income Before Tax |
63.5 |
32.6 |
30.2 |
36.5 |
39.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
|
Income After Tax |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
274.7 |
270.5 |
268.8 |
268.0 |
257.2 |
|
Basic EPS Excl Extraord Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Basic/Primary EPS Incl Extraord Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Diluted Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Diluted Weighted Average Shares |
285.1 |
276.1 |
277.5 |
268.6 |
259.1 |
|
Diluted EPS Excl Extraord Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
|
Diluted EPS Incl Extraord Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
|
Dividends per Share - Common Stock Primary Issue |
0.11 |
0.05 |
0.03 |
0.05 |
0.06 |
|
Gross Dividends - Common Stock |
30.3 |
13.5 |
7.3 |
12.0 |
15.0 |
|
Interest Expense, Supplemental |
1.7 |
1.9 |
4.2 |
4.1 |
2.0 |
|
Depreciation, Supplemental |
17.2 |
13.5 |
13.4 |
13.0 |
11.2 |
|
Total Special Items |
- |
0.0 |
0.9 |
- |
- |
|
Normalized Income Before Tax |
63.5 |
32.6 |
31.1 |
36.5 |
39.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
0.0 |
0.2 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
14.3 |
7.7 |
7.5 |
4.0 |
3.3 |
|
Normalized Income After Tax |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Diluted Normalized EPS |
0.17 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Amort of Intangibles, Supplemental |
3.6 |
3.0 |
3.6 |
3.0 |
2.2 |
|
Research & Development Exp, Supplemental |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
|
Normalized EBIT |
62.2 |
32.2 |
30.3 |
36.5 |
41.1 |
|
Normalized EBITDA |
83.1 |
48.7 |
47.3 |
52.4 |
54.6 |
|
Current Tax - Total |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Current Tax - Total |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Deferred Tax - Total |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Deferred Tax - Total |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Income Tax - Total |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
|
Interest Cost - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Service Cost - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Expected Return on Assets - Domestic |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Transition Costs - Domestic |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Total Pension Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Total Plan Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Plan Service Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Plan Expected Return |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
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 |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
28.855204 |
29.305764 |
30.350199 |
31.911435 |
31.824532 |
|
|
|
|
|
|
|
|
Net Sales |
3.3 |
4.8 |
1.3 |
1.4 |
1.5 |
|
Gross Revenue |
276.4 |
253.3 |
308.4 |
232.0 |
191.3 |
|
Sales Returns and Allowances |
-2.1 |
-1.1 |
-2.4 |
-1.0 |
-1.2 |
|
Revenue |
277.6 |
256.9 |
307.3 |
232.4 |
191.6 |
|
Total Revenue |
277.6 |
256.9 |
307.3 |
232.4 |
191.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
233.9 |
212.2 |
253.6 |
195.3 |
158.6 |
|
Cost of Revenue, Total |
233.9 |
212.2 |
253.6 |
195.3 |
158.6 |
|
Gross Profit |
43.7 |
44.7 |
53.7 |
37.1 |
33.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
15.2 |
13.5 |
16.8 |
12.8 |
11.0 |
|
Total Selling/General/Administrative Expenses |
15.2 |
13.5 |
16.8 |
12.8 |
11.0 |
|
Research & Development |
11.4 |
11.6 |
13.4 |
9.6 |
8.9 |
|
Total Operating Expense |
260.5 |
237.3 |
283.9 |
217.7 |
178.5 |
|
|
|
|
|
|
|
|
Operating Income |
17.1 |
19.6 |
23.4 |
14.7 |
13.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.6 |
-0.5 |
-0.5 |
-0.5 |
-0.4 |
|
Interest Expense, Net Non-Operating |
-0.6 |
-0.5 |
-0.5 |
-0.5 |
-0.4 |
|
Interest Income -
Non-Operating |
0.2 |
0.1 |
0.3 |
0.1 |
0.1 |
|
Investment Income -
Non-Operating |
-1.2 |
-0.5 |
-3.7 |
1.1 |
0.7 |
|
Interest/Investment Income - Non-Operating |
-1.0 |
-0.4 |
-3.4 |
1.2 |
0.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
-1.5 |
-0.9 |
-3.9 |
0.7 |
0.4 |
|
Other Non-Operating Income (Expense) |
0.8 |
0.7 |
1.1 |
1.5 |
0.8 |
|
Other, Net |
0.8 |
0.7 |
1.1 |
1.5 |
0.8 |
|
Income Before Tax |
16.4 |
19.4 |
20.6 |
16.8 |
14.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
4.3 |
4.3 |
3.7 |
4.1 |
3.4 |
|
Income After Tax |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
Net Income |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
285.9 |
284.7 |
277.3 |
274.9 |
273.5 |
|
Basic EPS Excl Extraord Items |
0.04 |
0.05 |
0.06 |
0.05 |
0.04 |
|
Basic/Primary EPS Incl Extraord Items |
0.04 |
0.05 |
0.06 |
0.05 |
0.04 |
|
Dilution Adjustment |
0.0 |
- |
- |
- |
- |
|
Diluted Net Income |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
Diluted Weighted Average Shares |
300.6 |
295.6 |
291.5 |
286.8 |
283.0 |
|
Diluted EPS Excl Extraord Items |
0.04 |
0.05 |
0.06 |
0.04 |
0.04 |
|
Diluted EPS Incl Extraord Items |
0.04 |
0.05 |
0.06 |
0.04 |
0.04 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.11 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
31.4 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
-0.6 |
0.5 |
0.5 |
0.5 |
0.4 |
|
Depreciation, Supplemental |
5.9 |
5.7 |
17.8 |
11.9 |
7.2 |
|
Normalized Income Before Tax |
16.4 |
19.4 |
20.6 |
16.8 |
14.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
4.3 |
4.3 |
3.7 |
4.1 |
3.4 |
|
Normalized Income After Tax |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.05 |
0.06 |
0.05 |
0.04 |
|
Diluted Normalized EPS |
0.04 |
0.05 |
0.06 |
0.04 |
0.04 |
|
Amort of Intangibles, Supplemental |
1.7 |
1.4 |
3.8 |
2.6 |
1.6 |
|
Research & Development Exp, Supplemental |
11.4 |
11.6 |
13.4 |
9.6 |
8.9 |
|
Normalized EBIT |
17.1 |
19.6 |
23.4 |
14.7 |
13.1 |
|
Normalized EBITDA |
24.6 |
26.7 |
45.1 |
29.2 |
21.9 |
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 |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
|
Auditor |
KPMG Peat
Marwick LLP |
KPMG Peat Marwick
LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
136.3 |
82.7 |
82.0 |
57.7 |
45.2 |
|
Short Term Investments |
11.5 |
45.9 |
29.7 |
65.0 |
46.8 |
|
Cash and Short Term Investments |
147.9 |
128.7 |
111.7 |
122.7 |
92.0 |
|
Accounts Receivable -
Trade, Gross |
193.7 |
97.5 |
104.2 |
128.1 |
161.4 |
|
Provision for Doubtful
Accounts |
-7.7 |
-2.0 |
-7.8 |
-0.9 |
-1.1 |
|
Trade Accounts Receivable - Net |
191.3 |
100.0 |
100.6 |
131.0 |
164.7 |
|
Notes Receivable - Short Term |
0.3 |
0.1 |
5.9 |
1.3 |
5.3 |
|
Total Receivables, Net |
191.6 |
100.1 |
106.5 |
132.4 |
170.0 |
|
Inventories - Finished Goods |
62.5 |
27.0 |
46.6 |
32.2 |
20.6 |
|
Inventories - Work In Progress |
7.1 |
2.9 |
2.6 |
4.4 |
6.9 |
|
Inventories - Raw Materials |
35.8 |
26.0 |
21.6 |
26.2 |
29.8 |
|
Inventories - Other |
- |
- |
-1.5 |
-1.7 |
-2.8 |
|
Total Inventory |
105.4 |
55.9 |
69.2 |
61.1 |
54.5 |
|
Deferred Income Tax - Current Asset |
3.8 |
4.2 |
5.5 |
1.5 |
1.6 |
|
Other Current Assets |
6.8 |
2.6 |
3.1 |
2.5 |
2.8 |
|
Other Current Assets, Total |
10.6 |
6.8 |
8.6 |
3.9 |
4.4 |
|
Total Current Assets |
455.4 |
291.5 |
296.1 |
320.2 |
321.0 |
|
|
|
|
|
|
|
|
Buildings |
102.8 |
50.1 |
42.6 |
28.8 |
18.5 |
|
Machinery/Equipment |
119.3 |
78.0 |
77.4 |
68.3 |
56.6 |
|
Construction in
Progress |
3.2 |
37.7 |
17.5 |
8.4 |
5.5 |
|
Property/Plant/Equipment - Gross |
225.3 |
165.8 |
137.5 |
105.5 |
80.5 |
|
Accumulated Depreciation |
-78.6 |
-59.6 |
-49.5 |
-39.6 |
-28.9 |
|
Property/Plant/Equipment - Net |
146.7 |
106.2 |
88.0 |
65.9 |
51.6 |
|
Intangibles, Net |
3.9 |
3.2 |
4.1 |
4.7 |
2.4 |
|
LT Investment - Affiliate Companies |
3.3 |
2.4 |
1.2 |
1.0 |
0.9 |
|
LT Investments - Other |
3.0 |
1.6 |
0.1 |
0.1 |
0.1 |
|
Long Term Investments |
6.2 |
3.9 |
1.3 |
1.2 |
1.1 |
|
Deferred Charges |
11.1 |
7.7 |
8.3 |
8.2 |
3.5 |
|
Pension Benefits - Overfunded |
1.0 |
0.8 |
0.6 |
0.5 |
0.4 |
|
Deferred Income Tax - Long Term Asset |
- |
- |
0.0 |
5.1 |
5.2 |
|
Other Long Term Assets, Total |
12.0 |
8.5 |
8.9 |
13.9 |
9.0 |
|
Total Assets |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
2.6 |
1.9 |
1.2 |
0.7 |
2.5 |
|
Accrued Expenses |
38.9 |
29.3 |
26.4 |
23.6 |
25.3 |
|
Notes Payable/Short Term Debt |
281.7 |
168.1 |
181.2 |
193.4 |
185.2 |
|
Other Current Liabilities |
17.4 |
4.6 |
7.3 |
7.8 |
10.3 |
|
Other Current liabilities, Total |
17.4 |
4.6 |
7.3 |
7.8 |
10.3 |
|
Total Current Liabilities |
340.6 |
203.9 |
216.1 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
281.7 |
168.1 |
181.2 |
193.4 |
185.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
5.0 |
2.1 |
0.4 |
- |
- |
|
Deferred Income Tax |
5.0 |
2.1 |
0.4 |
- |
- |
|
Total Liabilities |
345.6 |
206.1 |
216.5 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Common Stock |
92.0 |
78.8 |
72.1 |
62.1 |
49.7 |
|
Common Stock |
92.0 |
78.8 |
72.1 |
62.1 |
49.7 |
|
Additional Paid-In Capital |
59.2 |
46.6 |
43.5 |
44.0 |
43.6 |
|
Retained Earnings (Accumulated Deficit) |
128.0 |
86.1 |
69.5 |
72.5 |
68.0 |
|
Treasury Stock - Common |
- |
-6.7 |
-6.5 |
- |
- |
|
Unrealized Gain (Loss) |
0.1 |
0.4 |
0.4 |
0.8 |
0.3 |
|
Translation Adjustment |
-2.5 |
1.9 |
2.9 |
0.9 |
0.0 |
|
Other Equity |
1.8 |
0.0 |
- |
0.0 |
0.1 |
|
Other Equity, Total |
-0.7 |
1.9 |
2.9 |
0.9 |
0.1 |
|
Total Equity |
278.7 |
207.3 |
181.9 |
180.4 |
161.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
Total Common Shares Outstanding |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
5.5 |
5.8 |
- |
- |
|
Employees |
8,238 |
5,775 |
4,476 |
6,203 |
4,895 |
|
Number of Common Shareholders |
14,949 |
19,483 |
21,664 |
18,090 |
16,831 |
|
Accumulated Intangible Amort, Suppl. |
3.2 |
4.3 |
3.8 |
- |
- |
|
Pension Obligation - Domestic |
5.1 |
3.9 |
3.4 |
3.4 |
2.7 |
|
Plan Assets - Domestic |
3.9 |
3.1 |
2.7 |
2.4 |
2.1 |
|
Funded Status - Domestic |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Accumulated Obligation - Domestic |
2.6 |
2.0 |
1.6 |
1.6 |
1.5 |
|
Total Funded Status |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Discount Rate - Domestic |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Expected Rate of Return - Domestic |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Compensation Rate - Domestic |
4.00% |
4.00% |
4.00% |
5.00% |
4.00% |
|
Prepaid Benefits - Domestic |
1.0 |
0.8 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
1.0 |
0.8 |
- |
- |
- |
|
Total Plan Obligations |
5.1 |
3.9 |
3.4 |
3.4 |
2.7 |
|
Total Plan Assets |
3.9 |
3.1 |
2.7 |
2.4 |
2.1 |
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 |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
28.7235 |
29.4065 |
29.1565 |
31.2415 |
32.1315 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
133.1 |
140.1 |
136.3 |
123.3 |
95.5 |
|
Short Term Investments |
56.3 |
12.0 |
11.5 |
13.3 |
45.0 |
|
Cash and Short Term Investments |
189.4 |
152.2 |
147.9 |
136.6 |
140.5 |
|
Accounts Receivable -
Trade, Gross |
223.3 |
198.9 |
193.7 |
163.1 |
139.4 |
|
Provision for Doubtful
Accounts |
-10.5 |
-9.0 |
-7.7 |
-5.1 |
-2.6 |
|
Trade Accounts Receivable - Net |
218.9 |
195.9 |
191.3 |
161.8 |
141.1 |
|
Notes Receivable - Short Term |
4.7 |
1.0 |
0.3 |
0.4 |
0.2 |
|
Total Receivables, Net |
223.5 |
196.9 |
191.6 |
162.1 |
141.3 |
|
Inventories - Finished Goods |
63.6 |
59.9 |
62.5 |
34.0 |
32.3 |
|
Inventories - Work In Progress |
9.5 |
9.4 |
7.1 |
13.7 |
5.4 |
|
Inventories - Raw Materials |
51.3 |
56.5 |
35.8 |
57.6 |
31.4 |
|
Inventories - Other |
- |
-4.3 |
- |
- |
- |
|
Total Inventory |
124.5 |
121.5 |
105.4 |
105.3 |
69.1 |
|
Deferred Income Tax - Current Asset |
3.3 |
3.2 |
3.8 |
3.4 |
2.5 |
|
Other Current Assets |
9.3 |
7.0 |
6.8 |
3.6 |
4.1 |
|
Other Current Assets, Total |
12.6 |
10.2 |
10.6 |
7.0 |
6.5 |
|
Total Current Assets |
550.0 |
480.8 |
455.4 |
411.0 |
357.5 |
|
|
|
|
|
|
|
|
Buildings |
104.7 |
102.6 |
102.8 |
98.0 |
92.6 |
|
Machinery/Equipment |
126.7 |
120.3 |
119.3 |
100.8 |
94.3 |
|
Construction in
Progress |
9.2 |
5.6 |
3.2 |
11.8 |
3.0 |
|
Property/Plant/Equipment - Gross |
240.7 |
228.5 |
225.3 |
210.6 |
189.9 |
|
Accumulated Depreciation |
-89.7 |
-83.3 |
-78.6 |
-70.8 |
-65.5 |
|
Property/Plant/Equipment - Net |
150.9 |
145.1 |
146.7 |
139.8 |
124.4 |
|
Intangibles, Net |
4.2 |
4.3 |
3.9 |
3.3 |
3.3 |
|
LT Investment - Affiliate Companies |
3.4 |
3.4 |
3.3 |
3.1 |
2.8 |
|
LT Investments - Other |
3.0 |
3.0 |
3.0 |
1.7 |
1.6 |
|
Long Term Investments |
6.4 |
6.4 |
6.2 |
4.7 |
4.4 |
|
Deferred Charges |
11.2 |
10.9 |
11.1 |
9.6 |
8.8 |
|
Pension Benefits - Overfunded |
1.0 |
1.0 |
1.0 |
0.9 |
0.8 |
|
Other Long Term Assets, Total |
12.2 |
11.9 |
12.0 |
10.4 |
9.6 |
|
Total Assets |
723.7 |
648.5 |
624.3 |
569.2 |
499.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
2.1 |
2.4 |
2.6 |
2.8 |
1.7 |
|
Accrued Expenses |
50.4 |
38.0 |
38.9 |
30.0 |
32.8 |
|
Notes Payable/Short Term Debt |
282.1 |
288.5 |
281.7 |
288.4 |
226.4 |
|
Dividends Payable |
33.2 |
- |
- |
- |
13.9 |
|
Other Current Liabilities |
14.5 |
17.1 |
17.4 |
8.7 |
7.0 |
|
Other Current liabilities, Total |
47.7 |
17.1 |
17.4 |
8.7 |
20.9 |
|
Total Current Liabilities |
382.4 |
346.0 |
340.6 |
330.0 |
281.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
49.5 |
- |
- |
- |
- |
|
Total Long Term Debt |
49.5 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
331.6 |
288.5 |
281.7 |
288.4 |
226.4 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
7.2 |
6.1 |
5.0 |
3.8 |
3.2 |
|
Deferred Income Tax |
7.2 |
6.1 |
5.0 |
3.8 |
3.2 |
|
Total Liabilities |
439.1 |
352.1 |
345.6 |
333.9 |
284.9 |
|
|
|
|
|
|
|
|
Common Stock |
99.5 |
92.5 |
92.0 |
85.3 |
82.6 |
|
Common Stock |
99.5 |
92.5 |
92.0 |
85.3 |
82.6 |
|
Additional Paid-In Capital |
67.7 |
63.3 |
59.2 |
49.9 |
47.6 |
|
Retained Earnings (Accumulated Deficit) |
119.7 |
142.0 |
128.0 |
103.1 |
87.7 |
|
Treasury Stock - Common |
0.0 |
0.0 |
- |
-6.9 |
-6.7 |
|
Unrealized Gain (Loss) |
0.1 |
0.0 |
0.1 |
0.1 |
0.4 |
|
Translation Adjustment |
-2.4 |
-1.5 |
-2.5 |
1.6 |
2.7 |
|
Other Equity |
- |
- |
1.8 |
2.2 |
- |
|
Other Equity, Total |
-2.4 |
-1.5 |
-0.7 |
3.8 |
2.7 |
|
Total Equity |
284.6 |
296.4 |
278.7 |
235.4 |
214.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
723.7 |
648.5 |
624.3 |
569.2 |
499.2 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
285.9 |
285.7 |
281.7 |
274.4 |
273.3 |
|
Total Common Shares Outstanding |
285.9 |
285.7 |
281.7 |
274.4 |
273.3 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
5.2 |
5.5 |
|
Employees |
8,652 |
- |
8,238 |
- |
6,984 |
|
Accumulated Intangible Amort, Suppl. |
2.2 |
1.5 |
3.2 |
2.6 |
2.1 |
|
Prepaid Benefits - Domestic |
1.0 |
1.0 |
1.0 |
0.9 |
0.8 |
|
Net Assets Recognized on Balance Sheet |
1.0 |
1.0 |
1.0 |
0.9 |
0.8 |
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 |
Reclassified
Normal |
Updated 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 Peat
Marwick LLP |
KPMG Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Depreciation |
17.2 |
13.5 |
17.0 |
16.0 |
13.4 |
|
Depreciation/Depletion |
17.2 |
13.5 |
17.0 |
16.0 |
13.4 |
|
Amortization of Intangibles |
3.6 |
3.0 |
- |
- |
- |
|
Amortization |
3.6 |
3.0 |
- |
- |
- |
|
Deferred Taxes |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Unusual Items |
-0.4 |
-0.1 |
1.2 |
-0.4 |
0.2 |
|
Equity in Net Earnings (Loss) |
-0.8 |
-0.2 |
0.3 |
0.0 |
0.2 |
|
Other Non-Cash Items |
15.2 |
3.8 |
8.9 |
2.1 |
7.4 |
|
Non-Cash Items |
14.0 |
3.5 |
10.4 |
1.7 |
7.8 |
|
Accounts Receivable |
-80.8 |
8.6 |
18.1 |
38.0 |
-91.8 |
|
Inventories |
-45.7 |
11.4 |
-10.7 |
-8.3 |
-13.0 |
|
Prepaid Expenses |
-0.1 |
-0.1 |
- |
- |
- |
|
Other Assets |
-3.3 |
0.4 |
-1.2 |
0.5 |
-1.3 |
|
Accounts Payable |
73.1 |
-14.6 |
-12.7 |
-25.1 |
58.3 |
|
Accrued Expenses |
17.7 |
2.4 |
2.9 |
-4.3 |
16.5 |
|
Changes in Working Capital |
-39.1 |
8.1 |
-3.6 |
0.8 |
-31.3 |
|
Cash from Operating Activities |
49.0 |
56.3 |
47.5 |
50.8 |
23.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-50.6 |
-31.0 |
-34.0 |
-28.6 |
-20.0 |
|
Capital Expenditures |
-50.6 |
-31.0 |
-34.0 |
-28.6 |
-20.0 |
|
Sale of Fixed Assets |
0.0 |
0.4 |
0.0 |
0.7 |
0.0 |
|
Sale/Maturity of Investment |
77.4 |
50.7 |
0.6 |
0.1 |
- |
|
Investment, Net |
-41.8 |
-65.3 |
35.9 |
-17.4 |
-16.1 |
|
Purchase of Investments |
-1.0 |
-2.3 |
-2.4 |
- |
- |
|
Intangible, Net |
-2.1 |
-1.1 |
-2.5 |
- |
- |
|
Other Investing Cash Flow |
-3.3 |
-0.3 |
- |
-9.0 |
-5.0 |
|
Other Investing Cash Flow Items, Total |
29.3 |
-17.9 |
31.7 |
-25.7 |
-21.1 |
|
Cash from Investing Activities |
-21.3 |
-48.9 |
-2.3 |
-54.2 |
-41.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
-14.0 |
-16.4 |
-7.2 |
|
Financing Cash Flow Items |
- |
- |
-14.0 |
-16.4 |
-7.2 |
|
Cash Dividends Paid - Common |
-14.2 |
-7.0 |
- |
- |
- |
|
Total Cash Dividends Paid |
-14.2 |
-7.0 |
- |
- |
- |
|
Sale/Issuance of
Common |
5.5 |
- |
- |
0.0 |
3.0 |
|
Repurchase/Retirement
of Common |
- |
- |
-6.8 |
0.0 |
-3.5 |
|
Common Stock, Net |
5.5 |
- |
-6.8 |
0.0 |
-0.4 |
|
Options Exercised |
7.1 |
- |
0.0 |
0.4 |
1.3 |
|
Issuance (Retirement) of Stock, Net |
12.7 |
- |
-6.8 |
0.4 |
0.8 |
|
Short Term Debt, Net |
17.3 |
-1.9 |
2.8 |
30.6 |
48.9 |
|
Issuance (Retirement) of Debt, Net |
17.3 |
-1.9 |
2.8 |
30.6 |
48.9 |
|
Cash from Financing Activities |
15.9 |
-8.9 |
-17.9 |
14.6 |
42.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.2 |
-1.3 |
1.0 |
-0.2 |
|
Net Change in Cash |
42.2 |
-1.4 |
26.0 |
12.2 |
25.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
84.0 |
81.5 |
59.4 |
44.8 |
20.3 |
|
Net Cash - Ending Balance |
126.2 |
80.1 |
85.4 |
57.0 |
45.3 |
|
Cash Interest Paid |
1.6 |
2.2 |
4.5 |
3.8 |
1.7 |
|
Cash Taxes Paid |
5.4 |
7.4 |
6.2 |
6.3 |
2.6 |
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 |
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) |
29.074238 |
29.305764 |
31.497037 |
31.886422 |
31.824532 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
27.3 |
15.1 |
49.2 |
32.5 |
19.9 |
|
Depreciation |
11.5 |
5.7 |
17.2 |
11.9 |
7.2 |
|
Depreciation/Depletion |
11.5 |
5.7 |
17.2 |
11.9 |
7.2 |
|
Amortization of Intangibles |
3.1 |
1.4 |
3.6 |
2.6 |
1.6 |
|
Amortization |
3.1 |
1.4 |
3.6 |
2.6 |
1.6 |
|
Deferred Taxes |
2.6 |
1.4 |
4.2 |
2.6 |
2.6 |
|
Unusual Items |
-0.1 |
0.0 |
-0.4 |
- |
-0.1 |
|
Equity in Net Earnings (Loss) |
-0.1 |
-0.2 |
-0.8 |
-0.6 |
-0.4 |
|
Other Non-Cash Items |
5.7 |
2.3 |
15.2 |
7.4 |
2.5 |
|
Non-Cash Items |
5.5 |
2.1 |
14.0 |
6.7 |
2.0 |
|
Accounts Receivable |
-31.4 |
-8.4 |
-80.8 |
-61.4 |
-42.7 |
|
Inventories |
-0.1 |
-17.7 |
-45.7 |
-51.1 |
-0.1 |
|
Prepaid Expenses |
-19.8 |
0.0 |
-0.1 |
-0.1 |
-15.1 |
|
Other Assets |
-3.1 |
-0.6 |
-3.3 |
-1.9 |
-2.8 |
|
Accounts Payable |
2.1 |
0.1 |
73.1 |
96.3 |
41.2 |
|
Accrued Expenses |
7.7 |
-0.7 |
17.7 |
3.9 |
6.1 |
|
Changes in Working Capital |
-44.5 |
-27.4 |
-39.1 |
-14.3 |
-13.3 |
|
Cash from Operating Activities |
5.5 |
-1.7 |
49.0 |
42.1 |
20.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-13.6 |
-4.5 |
-50.6 |
-44.0 |
-26.3 |
|
Capital Expenditures |
-13.6 |
-4.5 |
-50.6 |
-44.0 |
-26.3 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.3 |
0.3 |
|
Sale/Maturity of Investment |
26.6 |
13.7 |
77.4 |
33.9 |
22.8 |
|
Investment, Net |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Purchase of Investments |
-70.0 |
-14.0 |
-42.7 |
- |
-20.7 |
|
Intangible, Net |
-1.5 |
- |
-2.1 |
-3.7 |
-0.9 |
|
Other Investing Cash Flow |
-1.9 |
-1.7 |
-3.3 |
- |
-1.3 |
|
Other Investing Cash Flow Items, Total |
-46.7 |
-2.0 |
29.3 |
30.5 |
0.2 |
|
Cash from Investing Activities |
-60.3 |
-6.5 |
-21.3 |
-13.5 |
-26.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
-14.0 |
- |
|
Financing Cash Flow Items |
- |
- |
- |
-14.0 |
- |
|
Cash Dividends Paid - Common |
- |
- |
-14.2 |
- |
- |
|
Total Cash Dividends Paid |
- |
- |
-14.2 |
- |
- |
|
Sale/Issuance of
Common |
- |
- |
5.5 |
- |
- |
|
Common Stock, Net |
- |
- |
5.5 |
- |
- |
|
Options Exercised |
4.5 |
4.1 |
7.1 |
4.8 |
1.5 |
|
Issuance (Retirement) of Stock, Net |
4.5 |
4.1 |
12.7 |
4.8 |
1.5 |
|
Short Term Debt Issued |
-6.3 |
9.0 |
17.3 |
18.5 |
18.1 |
|
Short Term Debt, Net |
-6.3 |
9.0 |
17.3 |
18.5 |
18.1 |
|
Long Term Debt
Reduction |
51.4 |
- |
- |
- |
- |
|
Long Term Debt, Net |
51.4 |
- |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
45.1 |
9.0 |
17.3 |
18.5 |
18.1 |
|
Cash from Financing Activities |
49.5 |
13.1 |
15.9 |
9.3 |
19.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
0.0 |
-1.4 |
-0.1 |
-0.2 |
|
Net Change in Cash |
-5.3 |
5.0 |
42.2 |
37.8 |
13.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
136.7 |
135.6 |
84.0 |
83.0 |
83.2 |
|
Net Cash - Ending Balance |
131.5 |
140.6 |
126.2 |
120.8 |
96.4 |
|
Cash Interest Paid |
1.1 |
0.5 |
1.6 |
1.1 |
0.6 |
|
Cash Taxes Paid |
8.2 |
1.3 |
5.4 |
4.9 |
1.9 |
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 |
Updated 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 Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Sales |
867.1 |
479.0 |
616.5 |
536.1 |
579.3 |
|
Sales Discounts and Allowances |
-4.6 |
-3.0 |
-9.7 |
-5.8 |
-6.5 |
|
Other Operating Income |
- |
- |
- |
5.7 |
7.5 |
|
Service Income |
5.5 |
5.6 |
3.6 |
- |
- |
|
Total Revenue |
868.0 |
481.6 |
610.4 |
535.9 |
580.3 |
|
|
|
|
|
|
|
|
Cost of Sales |
717.5 |
388.5 |
508.4 |
446.7 |
477.9 |
|
Selling Expenses |
34.8 |
21.8 |
32.5 |
19.7 |
30.7 |
|
General and Administrative Expenses |
14.1 |
10.1 |
11.1 |
8.8 |
7.7 |
|
Research and Development Expenses |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
|
Impairment Loss |
- |
0.0 |
0.9 |
- |
- |
|
Total Operating Expense |
805.7 |
449.4 |
581.0 |
499.5 |
539.2 |
|
|
|
|
|
|
|
|
Interest Income |
0.5 |
0.3 |
1.4 |
1.1 |
0.7 |
|
Gain on Equity Investment |
0.8 |
0.2 |
- |
- |
- |
|
Gain on Foreign Exchange |
0.0 |
0.7 |
2.3 |
1.5 |
- |
|
Gain on Sale of Investments |
0.4 |
0.1 |
1.4 |
0.9 |
0.6 |
|
Miscellaneous Income |
4.3 |
1.1 |
0.6 |
0.6 |
0.4 |
|
Interest Expense |
-1.7 |
-1.9 |
-4.2 |
-4.1 |
-2.0 |
|
Loss on Equity Investment |
- |
0.0 |
-0.3 |
0.0 |
-0.2 |
|
Foreign Exchange Losses |
-2.8 |
- |
- |
- |
-0.5 |
|
Miscellaneous Disbursements |
-0.2 |
-0.1 |
-0.4 |
-0.1 |
-0.4 |
|
Net Income Before Taxes |
63.5 |
32.6 |
30.2 |
36.5 |
39.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
|
Net Income After Taxes |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
274.7 |
270.5 |
268.8 |
268.0 |
257.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Basic EPS Including ExtraOrdinary Items |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Diluted Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Diluted Weighted Average Shares |
285.1 |
276.1 |
277.5 |
268.6 |
259.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
|
Diluted EPS Including ExtraOrd Items |
0.17 |
0.09 |
0.08 |
0.12 |
0.14 |
|
DPS-Ordinary Shares |
0.11 |
0.05 |
0.03 |
0.05 |
0.06 |
|
Gross Dividends - Common Stock |
30.3 |
13.5 |
7.3 |
12.0 |
15.0 |
|
Normalized Income Before Taxes |
63.5 |
32.6 |
31.1 |
36.5 |
39.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.3 |
7.7 |
7.5 |
4.0 |
3.3 |
|
Normalized Income After Taxes |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
49.2 |
24.9 |
23.6 |
32.5 |
36.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Diluted Normalized EPS |
0.17 |
0.09 |
0.09 |
0.12 |
0.14 |
|
Interest Expense, Supplemental |
1.7 |
1.9 |
4.2 |
4.1 |
2.0 |
|
R&D Expense, Supplemental |
39.4 |
28.9 |
28.1 |
24.2 |
22.9 |
|
Depreciation - Operating Cost |
12.2 |
10.1 |
10.2 |
10.1 |
8.4 |
|
Depreciation - Operating Expenses |
5.0 |
3.4 |
3.2 |
2.9 |
2.8 |
|
Amortization - Operating Cost |
1.5 |
1.2 |
1.3 |
1.5 |
1.4 |
|
Amortization - Operating Expenses |
2.1 |
1.8 |
2.3 |
1.5 |
0.8 |
|
Current Tax |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Current Tax - Total |
10.1 |
4.5 |
6.5 |
4.1 |
6.0 |
|
Deferred Tax |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Deferred Tax - Total |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Income Tax - Total |
14.3 |
7.7 |
7.3 |
4.0 |
3.3 |
|
Service Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Expected Return on Plan Assets |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Amort. Transitional Benefit Obligation |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Total Pension Expense |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Discount Rate |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
4.00% |
5.00% |
4.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
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 |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
28.855204 |
29.305764 |
30.350199 |
31.911435 |
31.824532 |
|
|
|
|
|
|
|
|
Gross Sales |
276.4 |
253.3 |
308.4 |
232.0 |
191.3 |
|
Sales Discounts and Allowances |
-2.1 |
-1.1 |
-2.4 |
-1.0 |
-1.2 |
|
Service Revenue |
3.3 |
4.8 |
1.3 |
1.4 |
1.5 |
|
Total Revenue |
277.6 |
256.9 |
307.3 |
232.4 |
191.6 |
|
|
|
|
|
|
|
|
Cost of Sales |
233.9 |
212.2 |
253.6 |
195.3 |
158.6 |
|
Selling Expense |
11.6 |
9.9 |
12.2 |
9.4 |
7.8 |
|
General and Administrative Expenses |
3.6 |
3.6 |
4.6 |
3.4 |
3.2 |
|
Research and Development Expenses |
11.4 |
11.6 |
13.4 |
9.6 |
8.9 |
|
Total Operating Expense |
260.5 |
237.3 |
283.9 |
217.7 |
178.5 |
|
|
|
|
|
|
|
|
Interest Income |
0.2 |
0.1 |
0.3 |
0.1 |
0.1 |
|
Gains on Sale of Investments |
0.0 |
0.0 |
0.1 |
0.3 |
0.0 |
|
Foreign Exchange Gain/Loss |
-1.1 |
-0.7 |
-3.9 |
0.6 |
0.5 |
|
Miscellaneous Income |
0.8 |
0.7 |
1.1 |
1.6 |
0.8 |
|
Interest Expense |
-0.6 |
-0.5 |
-0.5 |
-0.5 |
-0.4 |
|
Gain/Loss on Equity Investment |
-0.1 |
0.2 |
0.1 |
0.2 |
0.2 |
|
Miscellaneous Disbursements |
0.0 |
0.0 |
0.1 |
-0.1 |
0.0 |
|
Net Income Before Taxes |
16.4 |
19.4 |
20.6 |
16.8 |
14.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
4.3 |
4.3 |
3.7 |
4.1 |
3.4 |
|
Net Income After Taxes |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
Net Income |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
285.9 |
284.7 |
277.3 |
274.9 |
273.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.04 |
0.05 |
0.06 |
0.05 |
0.04 |
|
Basic EPS Including ExtraOrdinary Items |
0.04 |
0.05 |
0.06 |
0.05 |
0.04 |
|
Dilution Adjustment |
0.0 |
- |
- |
- |
- |
|
Diluted Net Income |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
Diluted Weighted Average Shares |
300.6 |
295.6 |
291.5 |
286.8 |
283.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.04 |
0.05 |
0.06 |
0.04 |
0.04 |
|
Diluted EPS Including ExtraOrd Items |
0.04 |
0.05 |
0.06 |
0.04 |
0.04 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.11 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
31.4 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
16.4 |
19.4 |
20.6 |
16.8 |
14.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
4.3 |
4.3 |
3.7 |
4.1 |
3.4 |
|
Normalized Income After Taxes |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
12.1 |
15.1 |
16.9 |
12.7 |
10.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.05 |
0.06 |
0.05 |
0.04 |
|
Diluted Normalized EPS |
0.04 |
0.05 |
0.06 |
0.04 |
0.04 |
|
Interest Expense, Supplemental |
-0.6 |
0.5 |
0.5 |
0.5 |
0.4 |
|
R&D Expense, Supplemental |
- |
11.6 |
13.4 |
9.6 |
8.9 |
|
Depreciation |
11.6 |
5.7 |
17.8 |
11.9 |
7.2 |
|
Amortization |
3.1 |
1.4 |
3.8 |
2.6 |
1.6 |
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 |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.1565 |
31.985 |
32.818 |
32.4345 |
32.585 |
|
Auditor |
KPMG Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Cash Equivalent |
136.3 |
82.7 |
82.0 |
57.7 |
45.2 |
|
Current Financial Assets - Held for Sale |
11.0 |
45.1 |
29.1 |
64.8 |
46.4 |
|
Notes Receivable |
0.3 |
0.1 |
5.9 |
1.3 |
5.3 |
|
Accounts Receivable, Gross |
193.7 |
97.5 |
104.2 |
128.1 |
161.4 |
|
Provision for Doubtful Accounts |
-7.7 |
-2.0 |
-7.8 |
-0.9 |
-1.1 |
|
Accounts Receivable - Related Parties |
5.3 |
4.5 |
4.1 |
3.8 |
4.4 |
|
Other Financial Assets - Current |
0.5 |
0.8 |
0.6 |
0.2 |
0.4 |
|
Finished Goods |
62.5 |
27.0 |
46.6 |
32.2 |
20.6 |
|
Work-in-Process |
7.1 |
2.9 |
2.6 |
4.4 |
6.9 |
|
Raw Material |
35.8 |
26.0 |
21.6 |
26.2 |
29.8 |
|
Provision/Allowance for Inventory |
- |
- |
-1.5 |
-1.7 |
-2.8 |
|
Other Current Assets |
6.8 |
2.6 |
3.1 |
2.5 |
2.8 |
|
Deferred Income Tax Assets - Current |
3.8 |
4.2 |
5.5 |
1.5 |
1.6 |
|
Total Current Assets |
455.4 |
291.5 |
296.1 |
320.2 |
321.0 |
|
|
|
|
|
|
|
|
Long Term Equity Investment |
3.3 |
2.4 |
1.2 |
1.0 |
0.9 |
|
Financial Assets - Cost Method |
2.7 |
1.5 |
- |
- |
- |
|
Other Financial Assets - Non Current |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Buildings and Structures |
102.8 |
50.1 |
42.6 |
28.8 |
18.5 |
|
Machinery and Equipment |
94.2 |
60.6 |
61.4 |
53.9 |
44.7 |
|
Testing Equipment |
13.3 |
10.1 |
9.2 |
8.5 |
6.9 |
|
Other Facilities |
11.8 |
7.3 |
6.7 |
5.8 |
4.9 |
|
Accumulated Depreciation |
-78.6 |
-59.6 |
-49.5 |
-39.6 |
-28.9 |
|
Con. in Progress & Prepayment for Equ. |
3.2 |
37.7 |
17.5 |
8.4 |
5.5 |
|
Deferred Pension Cost |
1.0 |
0.8 |
0.6 |
0.5 |
0.4 |
|
Deferred Income Tax Assets - Non Current |
- |
- |
0.0 |
5.1 |
5.2 |
|
Intangible Assets Net |
3.9 |
3.2 |
4.1 |
4.7 |
2.4 |
|
Deferred Charges |
11.1 |
7.7 |
8.3 |
8.2 |
3.5 |
|
Total Assets |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
112.7 |
85.7 |
85.4 |
83.7 |
52.4 |
|
Notes&Accounts Payable |
169.0 |
82.5 |
95.7 |
109.7 |
132.8 |
|
Accounts Payable - Related Parties |
2.6 |
1.9 |
1.2 |
0.7 |
2.5 |
|
Accrued Expenses |
11.6 |
12.9 |
11.0 |
10.1 |
13.0 |
|
Salary & Bonus Payable |
27.3 |
16.4 |
15.4 |
13.6 |
12.4 |
|
Other Current Liabilities |
17.4 |
4.6 |
7.3 |
7.8 |
10.3 |
|
Total Current Liabilities |
340.6 |
203.9 |
216.1 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Deferred Tax Liabilities |
5.0 |
2.1 |
0.4 |
- |
- |
|
Total Liabilities |
345.6 |
206.1 |
216.5 |
225.4 |
223.3 |
|
|
|
|
|
|
|
|
Common Stock |
92.0 |
78.8 |
72.1 |
62.1 |
49.7 |
|
Advance Receipt for Common Stock |
1.8 |
0.0 |
- |
0.0 |
0.1 |
|
Additional Paid-In Capital |
59.2 |
46.6 |
43.5 |
44.0 |
43.6 |
|
Legal Reserve |
22.9 |
18.3 |
15.6 |
12.5 |
8.8 |
|
Special Reserve |
- |
- |
- |
0.0 |
0.5 |
|
Retained Earnings |
105.2 |
67.9 |
53.9 |
60.0 |
58.6 |
|
Unrealized LT Invest./Fin. Ass G/L |
0.1 |
0.4 |
0.4 |
0.8 |
0.3 |
|
Cumulative Translation Adjustment |
-2.5 |
1.9 |
2.9 |
0.9 |
0.0 |
|
Treasury Stock |
- |
-6.7 |
-6.5 |
- |
- |
|
Total Equity |
278.7 |
207.3 |
181.9 |
180.4 |
161.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
624.3 |
413.3 |
398.4 |
405.9 |
385.1 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
Total Common Shares Outstanding |
281.7 |
272.5 |
268.2 |
268.2 |
258.8 |
|
T/S-Ordinary Shares |
0.0 |
5.5 |
5.8 |
- |
- |
|
Accumulated Amort. of Intangibles |
3.2 |
4.3 |
3.8 |
- |
- |
|
Full-Time Employees |
8,238 |
5,775 |
4,476 |
6,203 |
4,895 |
|
Number of Common Shareholders |
14,949 |
19,483 |
21,664 |
18,090 |
16,831 |
|
Benefit Obligation |
5.1 |
3.9 |
3.4 |
3.4 |
2.7 |
|
Fair Value of Plan Assets |
3.9 |
3.1 |
2.7 |
2.4 |
2.1 |
|
Funded Status |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Accumulated Benefit Obligation |
2.6 |
2.0 |
1.6 |
1.6 |
1.5 |
|
Total Funded Status |
-1.2 |
-0.8 |
-0.6 |
-1.0 |
-0.7 |
|
Discount Rate |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Rate of Compensation Increase |
4.00% |
4.00% |
4.00% |
5.00% |
4.00% |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.25% |
2.50% |
2.75% |
2.75% |
|
Prepaid Benefits - Domestic |
1.0 |
0.8 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
1.0 |
0.8 |
- |
- |
- |
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 |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
28.7235 |
29.4065 |
29.1565 |
31.2415 |
32.1315 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents |
133.1 |
140.1 |
136.3 |
123.3 |
95.5 |
|
Financial Assets-Available for Sale |
55.0 |
11.1 |
11.0 |
11.3 |
42.9 |
|
Notes Receivable |
4.7 |
1.0 |
0.3 |
0.4 |
0.2 |
|
Accounts Receivable, Gross |
223.3 |
198.9 |
193.7 |
163.1 |
139.4 |
|
Provision for Doubtful Accounts |
-10.5 |
-9.0 |
-7.7 |
-5.1 |
-2.6 |
|
Accounts Receivable - Related Parties |
6.0 |
6.0 |
5.3 |
3.7 |
4.3 |
|
Other Financial Assets - Current |
1.3 |
0.9 |
0.5 |
2.0 |
2.1 |
|
Finished Goods |
63.6 |
59.9 |
62.5 |
34.0 |
32.3 |
|
Work-in-Process |
9.5 |
9.4 |
7.1 |
13.7 |
5.4 |
|
Raw Material |
51.3 |
56.5 |
35.8 |
57.6 |
31.4 |
|
Provision/Allowance for Inventory |
- |
-4.3 |
- |
- |
- |
|
Other Current Assets |
9.3 |
7.0 |
6.8 |
3.6 |
4.1 |
|
Deferred Income Tax Assets - Current |
3.3 |
3.2 |
3.8 |
3.4 |
2.5 |
|
Total Current Assets |
550.0 |
480.8 |
455.4 |
411.0 |
357.5 |
|
|
|
|
|
|
|
|
Long-Term Equity Investments |
3.4 |
3.4 |
3.3 |
3.1 |
2.8 |
|
LT Invest./Fncl Asset at Cost for Sale |
2.8 |
2.7 |
- |
- |
1.5 |
|
Financial Assets-Cost Method,Non-Current |
- |
- |
2.7 |
1.6 |
- |
|
Other Financial Assets - Non-Current |
0.3 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Buildings and Structures |
104.7 |
102.6 |
102.8 |
98.0 |
92.6 |
|
Machinery and Equipment |
98.8 |
94.6 |
94.2 |
77.6 |
75.9 |
|
Testing Equipment |
14.6 |
13.6 |
13.3 |
12.3 |
11.2 |
|
Miscellaneous Equipment |
13.2 |
12.1 |
11.8 |
10.9 |
7.1 |
|
Accumulated Depreciation on Fixed Assets |
-89.7 |
-83.3 |
-78.6 |
-70.8 |
-65.5 |
|
Con. in Progress & Prepay. for Equipment |
9.2 |
5.6 |
3.2 |
11.8 |
3.0 |
|
Deferred Pension Cost |
1.0 |
1.0 |
1.0 |
0.9 |
0.8 |
|
Deferred Charges |
11.2 |
10.9 |
11.1 |
9.6 |
8.8 |
|
Intangible Assets |
4.2 |
4.3 |
3.9 |
3.3 |
3.3 |
|
Total Assets |
723.7 |
648.5 |
624.3 |
569.2 |
499.2 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
108.0 |
120.7 |
112.7 |
106.6 |
103.2 |
|
Notes & Accounts Payable |
174.1 |
167.8 |
169.0 |
181.9 |
123.2 |
|
Accounts Payable - Related Parties |
2.1 |
2.4 |
2.6 |
2.8 |
1.7 |
|
Accrued Expenses |
20.2 |
12.9 |
11.6 |
11.7 |
14.6 |
|
Salary & Bonus Payable |
30.2 |
25.1 |
27.3 |
18.3 |
18.2 |
|
Dividends Payable |
33.2 |
- |
- |
- |
13.9 |
|
Other Current Liabilities |
14.5 |
17.1 |
17.4 |
8.7 |
7.0 |
|
Total Current Liabilities |
382.4 |
346.0 |
340.6 |
330.0 |
281.7 |
|
|
|
|
|
|
|
|
Corporate Bonds Payable |
49.5 |
- |
- |
- |
- |
|
Total Long Term Debt |
49.5 |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Deferred Income Tax Liabilities |
7.2 |
6.1 |
5.0 |
3.8 |
3.2 |
|
Total Liabilities |
439.1 |
352.1 |
345.6 |
333.9 |
284.9 |
|
|
|
|
|
|
|
|
Common Stock |
94.8 |
92.5 |
92.0 |
85.3 |
78.8 |
|
Stock Dividend for Distribution |
4.7 |
- |
- |
- |
3.9 |
|
Advance Receipt for Common Stock |
- |
- |
1.8 |
2.2 |
- |
|
Cap.Surplus, Additional Paid in Capital |
67.7 |
63.3 |
59.2 |
49.9 |
47.6 |
|
Legal Reserve |
28.6 |
22.7 |
22.9 |
21.4 |
20.8 |
|
Special Reserve |
2.5 |
- |
- |
- |
- |
|
Retained Earnings |
88.6 |
119.4 |
105.2 |
81.8 |
66.9 |
|
Cumulative Translation Adjustment |
-2.4 |
-1.5 |
-2.5 |
1.6 |
2.7 |
|
Unrealized G/L on Financial Instruments |
0.1 |
0.0 |
0.1 |
0.1 |
0.4 |
|
Treasury Stock |
0.0 |
0.0 |
- |
-6.9 |
-6.7 |
|
Total Equity |
284.6 |
296.4 |
278.7 |
235.4 |
214.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
723.7 |
648.5 |
624.3 |
569.2 |
499.2 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
285.9 |
285.7 |
281.7 |
274.4 |
273.3 |
|
Total Common Shares Outstanding |
285.9 |
285.7 |
281.7 |
274.4 |
273.3 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
5.2 |
5.5 |
|
Accumulated Amort. of Intangibles |
- |
1.5 |
3.2 |
2.6 |
- |
|
Full-Time Employees |
- |
- |
8,238 |
- |
- |
|
Deferred Pension Cost |
- |
1.0 |
1.0 |
0.9 |
- |
|
Net Assets Recognized on Balance Sheet |
- |
1.0 |
1.0 |
0.9 |
- |
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 |
Reclassified
Normal |
Updated 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 Peat
Marwick LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
49.2 |
24.9 |
22.9 |
32.5 |
36.4 |
|
Depreciation |
17.2 |
13.5 |
17.0 |
16.0 |
13.4 |
|
Amortization of Intangibles |
3.6 |
3.0 |
- |
- |
- |
|
Provision for Bad Debts, Sales Return&Di |
5.1 |
0.3 |
7.1 |
0.0 |
2.0 |
|
Provision for Inventory Devaluation |
4.9 |
3.2 |
1.6 |
2.0 |
5.4 |
|
Equity Investment Gain/Loss |
-0.8 |
-0.2 |
0.3 |
0.0 |
0.2 |
|
Stock Based Payment to Employee Cost |
4.4 |
- |
- |
- |
- |
|
Net Gain/Loss on Disposal of Properties |
- |
- |
- |
0.0 |
0.2 |
|
Gain on Sale of LT Equity Investment |
-0.4 |
-0.1 |
0.3 |
-0.4 |
- |
|
Impairment Loss on Assets |
- |
- |
0.9 |
- |
0.0 |
|
Other Non Cash Items |
0.7 |
0.3 |
0.1 |
0.1 |
- |
|
Note Receivables |
-0.2 |
-0.2 |
- |
- |
- |
|
Accounts Receivable |
-80.2 |
9.1 |
- |
- |
- |
|
Accounts Receivable - Related Party |
-0.3 |
-0.3 |
- |
- |
- |
|
Note/Account Receivables (incl. Related) |
- |
- |
18.1 |
38.0 |
-91.8 |
|
Inventories |
-45.7 |
11.4 |
-10.7 |
-8.3 |
-13.0 |
|
Other Current Assets-Operating |
-3.3 |
0.4 |
-1.2 |
0.5 |
-1.3 |
|
Deferred Tax Assets |
4.2 |
3.3 |
0.8 |
-0.1 |
-2.7 |
|
Notes&Accounts Payable |
72.6 |
-15.3 |
-12.7 |
-25.1 |
58.3 |
|
Accrued Expenses and Other Current Liab. |
17.7 |
2.4 |
2.9 |
-4.3 |
16.5 |
|
Accounts Payable - Related Parties |
0.5 |
0.7 |
- |
- |
- |
|
Prepaid Pension |
-0.1 |
-0.1 |
- |
- |
- |
|
Cash from Operating Activities |
49.0 |
56.3 |
47.5 |
50.8 |
23.7 |
|
|
|
|
|
|
|
|
Disposal of Fixed Assets |
0.0 |
0.4 |
0.0 |
0.7 |
0.0 |
|
Capital Expenditure |
-50.6 |
-31.0 |
-34.0 |
-28.6 |
-20.0 |
|
Fin. Assets at Cost Increase |
-1.0 |
-1.5 |
-0.9 |
- |
- |
|
Fin. Assets for Sale-Current |
-41.7 |
-65.4 |
35.9 |
-17.4 |
-17.2 |
|
Financial Assets-Available for Sale,Cur |
77.4 |
50.7 |
- |
- |
- |
|
Sale of LT Equity Investment |
- |
- |
0.6 |
0.1 |
- |
|
Long Term Equity Investment |
0.0 |
-0.8 |
-1.4 |
- |
- |
|
Intangible Assets |
-2.1 |
-1.1 |
-2.5 |
- |
- |
|
Deferred Charges Increase |
-3.3 |
-0.3 |
- |
- |
- |
|
Other Financial Assets |
-0.1 |
0.0 |
0.1 |
0.0 |
1.0 |
|
Other Assets |
- |
- |
- |
-9.0 |
-5.0 |
|
Cash from Investing Activities |
-21.3 |
-48.9 |
-2.3 |
-54.2 |
-41.1 |
|
|
|
|
|
|
|
|
Short Term Borrowings, Net |
17.3 |
-1.9 |
2.8 |
30.6 |
48.9 |
|
Directors Remu., Cash Dividend &Employee |
- |
- |
-14.0 |
-16.4 |
-7.2 |
|
Cash Dividend |
-14.2 |
-7.0 |
- |
- |
- |
|
Iss. of Common Stock fr Stock Option Ex. |
7.1 |
- |
0.0 |
0.4 |
1.3 |
|
Treasury Stock Transfer to Employee |
5.5 |
- |
- |
- |
- |
|
Purchase of Treasury Stock |
- |
- |
-6.8 |
0.0 |
-3.5 |
|
Sale of Treasury Stock |
- |
- |
- |
0.0 |
3.0 |
|
Cash from Financing Activities |
15.9 |
-8.9 |
-17.9 |
14.6 |
42.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.2 |
-1.3 |
1.0 |
-0.2 |
|
Net Change in Cash |
42.2 |
-1.4 |
26.0 |
12.2 |
25.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
84.0 |
81.5 |
59.4 |
44.8 |
20.3 |
|
Net Cash - Ending Balance |
126.2 |
80.1 |
85.4 |
57.0 |
45.3 |
|
Cash Interest Paid |
1.6 |
2.2 |
4.5 |
3.8 |
1.7 |
|
Cash Taxes Paid |
5.4 |
7.4 |
6.2 |
6.3 |
2.6 |
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 |
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) |
29.074238 |
29.305764 |
31.497037 |
31.886422 |
31.824532 |
|
|
|
|
|
|
|
|
Net Income |
27.3 |
15.1 |
49.2 |
32.5 |
19.9 |
|
Depreciation |
11.5 |
5.7 |
17.2 |
11.9 |
7.2 |
|
Amortization of Intangibles |
3.1 |
1.4 |
3.6 |
2.6 |
1.6 |
|
Pro. for Doubt. Acct. & Sales
Ret.&Dis. |
2.7 |
1.5 |
5.1 |
2.9 |
0.6 |
|
Amort. of Bond Discount |
0.0 |
- |
- |
- |
- |
|
Inventory Devaluation & Obsolescence |
2.6 |
0.7 |
4.9 |
4.1 |
1.6 |
|
Equity Investment Gain/Loss |
-0.1 |
-0.2 |
-0.8 |
-0.6 |
-0.4 |
|
Gain on Sale of LT Equity Investment |
-0.1 |
0.0 |
-0.4 |
- |
-0.1 |
|
Stock Based Payment to Employee Cost |
- |
- |
4.4 |
- |
- |
|
Deferred Tax |
2.6 |
1.4 |
4.2 |
2.6 |
2.6 |
|
Other Non Cash Items |
0.4 |
0.2 |
0.7 |
0.3 |
0.3 |
|
Notes Receivable |
-4.3 |
-0.7 |
-0.2 |
- |
-0.2 |
|
Accounts Receivable |
-26.4 |
-7.0 |
-80.2 |
- |
-42.7 |
|
Notes&Account Receivable |
- |
- |
- |
-61.4 |
- |
|
Accounts Receivable-Related Parties |
-0.6 |
-0.8 |
-0.3 |
- |
0.1 |
|
Inventories |
-0.1 |
-17.7 |
-45.7 |
-51.1 |
-0.1 |
|
Other Current Assets-Operating |
-3.1 |
-0.6 |
-3.3 |
-1.9 |
-2.8 |
|
Accounts Payable,Related Parties |
-0.5 |
-0.2 |
0.5 |
- |
-0.2 |
|
Notes&Accounts Payable |
2.6 |
0.3 |
72.6 |
96.3 |
41.5 |
|
Accrued Exp.&Other Current Liabilities |
7.7 |
-0.7 |
17.7 |
3.9 |
6.1 |
|
Prepaid Pension |
-19.8 |
0.0 |
-0.1 |
-0.1 |
-15.1 |
|
Cash from Operating Activities |
5.5 |
-1.7 |
49.0 |
42.1 |
20.0 |
|
|
|
|
|
|
|
|
Fin. Assets at Cost Method - Non-Current |
- |
- |
-1.0 |
- |
- |
|
Fin. Assets Held for Sale Decrease |
- |
- |
77.4 |
33.9 |
- |
|
Disposal of Fin. Assets for Sale,Current |
26.6 |
13.7 |
- |
- |
22.8 |
|
Purchase of Fin. Assets Held for Sale |
-70.0 |
-14.0 |
-41.7 |
- |
-20.7 |
|
Long Term Equity Inverstment Increase |
- |
- |
0.0 |
- |
- |
|
Capital Expenditure |
-13.6 |
-4.5 |
-50.6 |
-44.0 |
-26.3 |
|
Disposal of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.3 |
0.3 |
|
Intangible Assets |
-1.5 |
- |
-2.1 |
-3.7 |
-0.9 |
|
Deferred Charges&Intangibles |
- |
-1.7 |
- |
- |
- |
|
Deferred Charges Increase |
-1.9 |
- |
-3.3 |
- |
-1.3 |
|
Other Financial Assets - Non Current |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-60.3 |
-6.5 |
-21.3 |
-13.5 |
-26.2 |
|
|
|
|
|
|
|
|
Short Term Borrowings Increase |
-6.3 |
9.0 |
17.3 |
18.5 |
18.1 |
|
Issuance of Convertible Bonds |
51.4 |
- |
- |
- |
- |
|
Cash Dividend |
- |
- |
-14.2 |
- |
- |
|
Directors Remu., Div. & Employees Bonus |
- |
- |
- |
-14.0 |
- |
|
Treasury Stock Transfered to Employees |
- |
- |
5.5 |
- |
- |
|
Employee Stock Option Exercised |
4.5 |
4.1 |
7.1 |
4.8 |
1.5 |
|
Cash from Financing Activities |
49.5 |
13.1 |
15.9 |
9.3 |
19.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
0.0 |
-1.4 |
-0.1 |
-0.2 |
|
Net Change in Cash |
-5.3 |
5.0 |
42.2 |
37.8 |
13.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
136.7 |
135.6 |
84.0 |
83.0 |
83.2 |
|
Net Cash - Ending Balance |
131.5 |
140.6 |
126.2 |
120.8 |
96.4 |
|
Cash Interest Paid |
1.1 |
0.5 |
1.6 |
1.1 |
0.6 |
|
Cash Taxes Paid |
8.2 |
1.3 |
5.4 |
4.9 |
1.9 |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.78 |
|
UK Pound |
1 |
Rs.80.11 |
|
Euro |
1 |
Rs.68.82 |
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.