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Advanced Semiconductor Engineering, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter of 2009.

Article Excerpt
TAIPEI, Taiwan, July 31 /PRNewswire-Asia-FirstCall/ -- Advanced Semiconductor Engineering, Inc. (TAIEX: 2311; NYSE: ASX) ("We", "ASE", or the "Company"), the world's largest independent provider of IC packaging and testing services, today reported unaudited net revenues (Note 1) of NT$20,881 million for the second quarter of 2009 (2Q09), down 18% year-over-year and up 56% sequentially. Net income for the quarter totaled NT$1,674 million, down from net income of NT$2,412 million in 2Q08 and up from net loss of NT$1,567 million in 1Q09. Diluted earnings per share for the quarter was NT$0.32 (or US$0.049 per ADS), compared to diluted earnings per share of NT$0.42 for 2Q08 and losses per share of NT$0.30 for 1Q09. For the first half of 2009, diluted earnings per share was NT$0.02 (or US$0.003 per ADS).



Note 1: All financial information presented in this press release is unaudited, consolidated and prepared in accordance with accounting principles generally accepted in the Republic of China, or ROC GAAP. Such financial information is generated internally by us, and has not been subjected to the same review and scrutiny, including internal auditing procedures and audit by our independent auditors, to which we subject our audited consolidated financial statements, and may vary materially from the audited consolidated financial information for the same period. Any evaluation of the financial information presented in this press release should also take into account our published audited consolidated financial statements and the notes to those statements. In addition, the financial information presented is not necessarily indicative of our results for any future period. RESULTS OF OPERATIONS 2Q09 Results Highlights -- Net revenue contribution from IC packaging operations (including module assembly), testing operations, and substrates sold to third parties was NT$16,591 million, NT$3,877 million and NT$413 million, respectively, and each represented approximately 79%, 19% and 2%, respectively, of total net revenues for the quarter. -- Cost of revenues was NT$16,357 million, down 14% year-over-year and up 28% sequentially. -- Raw material cost totaled NT$6,168 million during the quarter, representing 30% of total net revenue, compared with NT$3,760 million and 28% of net revenue in the previous quarter. -- Labor cost totaled NT$3,028 million during the quarter, representing 15% of total net revenue, compared with NT$2,524 million and 19% of net revenue in the previous quarter. -- Depreciation, amortization and rental expenses totaled NT$4,170 million during the quarter, up 5%...