TAICHUNG, Taiwan, Feb. 3, /PRNewswire-Asia-FirstCall/ --
Siliconware Precision Industries Co., Ltd. ("SPIL" or the
"Company") (Taiwan Stock Exchange: 2325; Nasdaq: SPIL) today
announced that its sales revenues for the fourth quarter of 2009
were NT$ 16,813 million, which represented a 0.5% increase in
revenues compared to the third quarter of 2009 and a 35.1% increase
in revenues compared to the fourth quarter of 2008. SPIL reported a
net income of NT$ 4,303 million for the fourth quarter of 2009,
compared with a net income of NT$ 2,561 million and a net loss of
NT$ 1,034 million for the third quarter of 2009 and the fourth
quarter of 2008, respectively. Diluted earnings per ordinary share
for this quarter was NT$ 1.37, and diluted earnings per ADS was US$
0.21. SPIL today announced that its sales revenues for year 2009
were NT$ 56,886 million, which represented a 5.9% decline in
revenues compared to year 2008. SPIL reported a net income of NT$
8,790 million for year 2009, compared with a net income of NT$
6,313 million for year 2008. Diluted earnings per ordinary share
for year 2009 was NT$ 2.80, and diluted earnings per ADS was US$
0.43. Operating results review: * For the fourth quarter of 2009,
net revenues from IC packaging were NT$ 15,459 million and
represented 92% of total net revenues. Net revenues from testing
operations were NT$ 1,354 million and represented 8% of total net
revenues. * Cost of goods sold was NT$ 13,433 million, representing
an increase of 4.5% compared to the third quarter of 2009 and an
increase of 33.4% compared to the fourth quarter of 2008. -- Raw
materials costs were NT$ 7,943 million for the fourth quarter of
2009, and represented 47.2% of total net revenues, whereas raw
materials costs were NT$ 7,610 million and represented 45.5% of
total net revenues for the third quarter of 2009. -- The accrued
expenses of bonuses to employees accounted for under cost of goods
sold totaled NT$ 342 million. * Gross profit was NT$ 3,380 million
for the fourth quarter of 2009, representing a gross margin of
20.1%, which decreased from a gross margin of 23.2% for the third
quarter of 2009 and was up from 19.1% for the fourth quarter of
2008. * Total operating expenses for the fourth quarter of 2009
were NT$ 942 million, which included selling expenses of NT$ 256
million, administrative expenses of NT$ 301 million and R&D
expenses of NT$ 385 million. Total operating expenses represented
5.6% of total net revenues for the fourth quarter of 2009. -- The
accrued expenses of bonuses to employees, directors and supervisors
accounting for under operating expenses totaled NT$ 141 million. *
Operating income was NT$ 2,438 million for the fourth quarter of
2009, representing an operating margin of 14.5% for the fourth
quarter of 2009, which decreased from 18.2% for the third quarter
of 2009 and increased from 9.7% for the fourth quarter of 2008. *
Non-operating items: -- Our net currency exchange gain of NT$ 33
million for the fourth quarter of 2009 was mainly due to
depreciation of our foreign dollars denominated liabilities as a
result of an appreciation of NT dollars, our reporting currency. --
Our investment income of NT$ 100 million from long-term investment
for the fourth quarter of 2009 was primarily due to investment gain
from SPIL BVI. -- Our investment income of NT$ 1,948 million from
disposing Phoenix Precision was due to that Phoenix Precision was
merged by Unimicron Corporation in fourth quarter 2009. * Net
income before tax was NT$ 4,637 million for the fourth quarter of
2009, which increased from a net income of NT$ 3,105 million for
the third quarter of 2009 and increased from a net loss of NT$
1,645 million for the fourth quarter of 2008. * Income tax expense
was NT$ 334 million for the fourth quarter of 2009, compared with
income tax expense of NT$ 544 million for the third quarter of 2009
and income tax credit of NT$ 611 million for the fourth quarter of
2008. * Net income was NT$ 4,303 million for the fourth quarter of
2009, which increased from a net income of NT$ 2,561 million for
the third quarter of 2009 and increased from a net loss of NT$
1,034 million for the fourth quarter of 2008. * Total number of
shares outstanding was 3,138 million shares as of Dec 31,2009.
Diluted earnings per ordinary share for this quarter was NT$ 1.37,
or US$ 0.21 per ADS. Capital expenditure and balance sheet
highlight: * Our cash balances totaled NT$ 19,035 million as of Dec
31, 2009 from NT$ 17,427 million as of Sept 30, 2009, and NT$
18,319 million as of Dec 31, 2008. * Capital expenditures for the
fourth quarter of 2009 totaled NT$ 2,937 million, which included
NT$ 2,685 million for packaging equipment and NT$ 252 million for
testing equipment. * Total depreciation expenses for the fourth
quarter of 2009 totaled NT$ 1,930 million, which included NT$ 1,451
million was from packaging operations and NT$ 479 million from
testing operations. IC packaging service: * Net revenues from IC
packaging operations were NT$ 15,459 million for the fourth quarter
of 2009, which represented an increase of NT$ 137 million or 0.9%
compared to the third quarter of 2009. * Substrate-based packaging,
leadframe-based packaging and wafer bumping & FCBGA accounted
for 45%, 28% and 17%, respectively, of total net revenues for the
fourth quarter of 2009. * Capital expenditures for IC packaging
operations totaled NT$ 2,685 million for the fourth quarter of
2009, which included NT$ 2,629 million for packaging and building
construction and NT$ 56 million for wafer bumping operations. * As
of Dec 31, 2009 we had 4,939 wirebonders installed, of which 30
were added in the fourth quarter of 2009. IC testing service: * Net
revenues from testing operations were NT$ 1,354 million for the
fourth quarter of 2009, which represented a decrease of NT$ 57
million or 4.0% compared to the third quarter of 2009. * Capital
expenditures for testing operations totaled NT$ 252 million for the
fourth quarter of 2009. * As of Dec 31, 2009 we had 382 testers
installed, of which 3 were added and 2 were disposed in the fourth
quarter of 2009. Revenue Analysis * Breakdown by end applications:
By application 4Q09 3Q09 Computing 22% 22% Communication 47% 47%
Consumer 17% 19% Memory 14% 12% * Breakdown by packaging type: By
packaging type 4Q09 3Q09 Bumping & FCBGA 17% 16% Substrate
Based 45% 44% Leadframe Based 28% 29% Testing 8% 9% Others 2% 2%
About SPIL Siliconware Precision Industries Ltd. ("SPIL")(Nasdaq:
SPIL; Taiwan Stock Exchange: 2325) is a leading provider of
comprehensive semiconductor assembly and test services. SPIL is
dedicated to meeting all of its customers' integrated circuit
packaging and testing requirements, with turnkey solutions that
range from design consultations, modeling and simulations, wafer
bumping, wafer probe and sort, package assembly, final test,
burn-in, to drop ship. Products include advanced leadframe and
substrate packages, which are widely used in personal computers,
communications, Internet appliances, cellular phones, digital
cameras, cable modems, personal digital assistants and LCD
monitors. SPIL supplies services and support to fabless design
houses, integrated device manufacturers and wafer foundries
globally. For further information, visit SPIL's web site at
http://www.spil.com.tw/ . Safe Harbor Statement The information
herein contains forward-looking statements within the meaning of
Section 27A of the U.S. Securities Act of 1933 and Section 21E of
the U.S. Securities Exchange Act of 1934. We have based these
forward-looking statements on our current expectation and
projections about future events. Such forward-looking statements
are inherently subject to known and unknown risks, uncertainties,
assumptions about us and other factors that may cause the actual
performance, financial condition or results of operations of SPIL
to be materially different from what may be implied by such
forward-looking statements. Investors are cautioned that actual
events and results could differ materially from those statements as
a result of a number of factors, including, among other things: *
the intensely competitive personal computer, communications,
consumer ICs and non-commodity memory semiconductor industries and
markets; * cyclical nature of the semiconductor industry; * risks
associated with global business activities; * non-operating losses
due to poor financial performance of some of our investments; * our
dependence on key personnel; * general economic and political
conditions; * possible disruptions in commercial activities caused
by natural and human induced disaster, including terrorist
activities and armed conflicts and contagious disease, such as the
Severe Acute Respiratory Syndrome; * fluctuations in foreign
currency exchange rates; and * other risks identified in our annual
reports on Form 20-F filed with the U.S. Securities and Exchange
Commission each year. The words "anticipate," "believe,"
"estimate," "expect," "intend," "plan" and similar expressions, as
they relate to us, are intended to identify a number of these
forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed
herein might not occur and our actual results could differ
materially from those anticipated in these forward-looking
statements. All financial figures discussed herein are prepared
pursuant to ROC GAAP on an unaudited unconsolidated basis. Audited
unconsolidated financial figures will be publicly announced upon
the completion of our audit process. The investment gains or losses
of our company for the three months ended Dec 31, 2009 reflect our
gains or losses attributable to the fourth quarter of 2009
unaudited financial results of several of our investees which are
evaluated under the equity method. Neither the unaudited
unconsolidated financial data for our company for the three months
ended Dec 31, 2009, nor the unaudited unconsolidated financial data
for our company for the twelve months ended Dec 31, 2009 is
necessarily indicative of the results that may be expected for any
period thereafter. SILICONWARE PRECISION INDUSTRIES CO., LTD.
UNCONSOLIDATED INCOME STATEMENT (Expressed in Thousands of New
Taiwan Dollars (NTD) and U.S. Dollars (USD)) 3 months ended on Dec
31 4Q 2009 4Q 2008 YOY USD NTD % NTD change% Revenues 520,543
16,813,527 100.0 12,448,823 35.1 Cost of Goods Sold (415,890)
(13,433,238) -79.9 (10,071,835) 33.4 Gross Profit 104,653 3,380,289
20.1 2,376,988 42.2 Operating Expenses Selling Expenses (7,933)
(256,231) -1.5 (513,767) -50.1 Administrative Expenses (9,307)
(300,608) -1.8 (319,836) -6.0 Research and Development Expenses
(11,919) (384,988) -2.3 (341,331) 12.8 (29,159) (941,827) -5.6
(1,174,934) -19.8 Operating Income 75,494 2,438,462 14.5 1,202,054
102.9 Non-operating Income 68,805 2,222,402 13.2 105,017 2016.2
Non-operating Expenses (753) (24,330) -0.1 (2,952,185) -99.2 Income
from Continuing Operations before Income Tax 143,546 4,636,534 27.6
(1,645,114) -- Income Tax Credit (Expenses) (10,338) (333,922) -2.0
611,535 -- Net Income 133,208 4,302,612 25.6 (1,033,579) --
Earnings Per Ordinary Share- Diluted NT$ 1.37 NT$ (0.33) Earnings
Per ADS- Diluted US$ 0.21 US$ (0.05) Weighted Average Outstanding
Shares - Diluted ('k) 3,138,273 3,139,459 Forex (NT$ per US$) 32.30
32.98 (1) All figures are under ROC GAAP. (2) 1 ADS is equivalent
to 5 Common Shares. SILICONWARE PRECISION INDUSTRIES CO., LTD.
UNCONSOLIDATED INCOME STATEMENT (Expressed in Thousands of New
Taiwan Dollars (NTD) and U.S. Dollars (USD)) (Continued) Sequential
Comparison 4Q 2009 3Q 2009 QOQ NTD NTD change% Revenues 16,813,527
16,732,703 0.5 Cost of Goods Sold (13,433,238) (12,855,656) 4.5
Gross Profit 3,380,289 3,877,047 -12.8 Operating Expenses Selling
Expenses (256,231) (193,613) 32.3 Administrative Expenses (300,608)
(292,411) 2.8 Research and Development Expenses (384,988) (342,869)
12.3 (941,827) (828,893) 13.6 Operating Income 2,438,462 3,048,154
-20.0 Non-operating Income 2,222,402 222,683 898.0 Non-operating
Expenses (24,330) (165,820) -85.3 Income from Continuing Operations
before Income Tax 4,636,534 3,105,017 49.3 Income Tax Credit
(Expenses) (333,922) (543,890) -38.6 Net Income 4,302,612 2,561,127
68.0 Earnings Per Ordinary Share- Diluted NT$ 0.82 Earnings Per
ADS- Diluted US$ 0.13 Weighted Average Outstanding Shares - Diluted
('k) 3,126,703 Forex (NT$ per US$) 32.79 (1) All figures are under
ROC GAAP. (2) 1 ADS is equivalent to 5 Common Shares. SILICONWARE
PRECISION INDUSTRIES CO., LTD. UNCONSOLIDATED INCOME STATEMENT For
the twelve Months Ended on Dec 31, 2009 and 2008 (Expressed in
Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) 12
months ended on Dec 31, 2009 and 2008 2009 2008 YOY Change USD NTD
% NTD % Net Sales 1,761,187 56,886,354 100.0 60,474,468 -5.9 Cost
of Goods Sold (1,418,682) (45,823,441) -80.6 (47,692,335) -3.9
Gross Profit 342,505 11,062,913 19.4 12,782,133 -13.5 Operating
Expenses Selling expenses (21,956) (709,179) -1.2 (1,203,928) -41.1
Administrative expenses (37,739) (1,218,984) -2.1 (1,329,791) -8.3
Research and development expenses (38,963) (1,258,493) -2.2
(1,382,560) -9.0 (98,658) (3,186,656) -5.6 (3,916,279) -18.6
Operating Income 243,847 7,876,257 13.8 8,865,854 -11.2
Non-operating Income 77,252 2,495,248 4.4 754,412 230.8
Non-operating Expenses (5,036) (162,649) -0.3 (3,104,813) -94.8
Income Before Income Tax 316,064 10,208,856 17.9 6,515,453 56.7
Income Tax Credit (Expenses) (43,933) (1,419,027) -2.5 (201,923)
602.8 Net Income 272,131 8,789,829 15.5 6,313,530 39.2 Earnings Per
Ordinary Share- Diluted NT$ 2.80 NT$ 2.01 Earnings Per ADS- Diluted
US$ 0.43 US$ 0.30 Weighted Average Outstanding Shares - Diluted
('k) 3,138,273 3,139,459 Forex (NT$ per US$) 32.30 32.98 (1) All
figures are under ROC GAAP. (2) 1 ADS is equivalent to 5 Common
Shares. SILICONWARE PRECISION INDUSTRIES CO., LTD. UNCONSOLIDATED
STATEMENTS OF CASH FLOWS For 12 Months Ended on Dec 31, 2009 and
2008 (Expressed in Thousands of New Taiwan Dollars (NTD) and U.S.
Dollars (USD)) 12 months, 2009 12 months, 2008 USD NTD NTD Cash
Flows from Operating Activities: Net income 266,520 8,789,829
6,313,530 Depreciation 239,908 7,912,150 8,426,521 Amortization
15,037 495,933 579,527 Gains on disposal of long-term investment
(59,240) (1,953,750) -- Long-term investment gain recognized by
equity method (6,881) (226,951) (39,839) Impairment loss on
financial instruments -- -- 3,030,604 Change in working capital
& others (13,614) (448,985) 3,035,870 Net cash flows provided
from operating activities 441,729 14,568,226 21,346,213 Cash Flows
from Investing Activities: Acquisition of property, plant, and
equipment (143,686) (4,738,775) (9,039,321) Increase on financial
instruments -- -- -- Proceeds from disposal of long-term investment
5,130 169,173 97,289 Payment for long-term investment (10,039)
(331,100) (323,332) Payment for deferred charges/other changes
(9,627) (317,491) (543,265) Net cash used in investing activities
(158,223) (5,218,193) (9,808,629) Cash Flows from Financing
Activities: Repayment for long-term bank loan (90,964) (3,000,000)
-- Cash dividends distributed to shareholders (170,086) (5,609,430)
(13,674,711) Cash bonus distributed to employees -- -- (1,100,058)
Remuneration of directors and supervisors' bonuses -- -- (157,405)
Proceeds from the exercise of employee stock option /other charges
(770) (25,405) (78,960) Net cash provided from financing activities
(261,820) (8,634,835) (15,011,134) Net increase (decrease) in cash
and cash equivalents 21,686 715,198 (3,473,550) Cash and cash
equivalents at beginning of period 555,468 18,319,338 21,792,888
Cash and cash equivalents at end of period 577,154 19,034,536
18,319,338 Forex (NT$ per US$ ) -- 32.98 32.8 (1): All figures are
under ROC GAAP. SILICONWARE PRECISION INDUSTRIES CO., LTD.
UNCONSOLIDATED BALANCE SHEET As of Dec 31, 2009 and 2008 (Expressed
in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD))
Dec 31,2009 ASSETS USD NTD % Cash and cash equivalent 577,154
19,034,536 25 Accounts receivable 327,557 10,802,846 14 Inventories
82,957 2,735,920 4 Other current assets 60,918 2,009,062 2 Total
current assets 1,048,586 34,582,364 45 Long-term investments
235,860 7,778,660 10 Fixed assets 2,111,221 69,628,081 90 Less
accumulated depreciation (1,099,747) (36,269,670) -47 Net fixed
assets 1,011,474 33,358,411 43 Other assets 52,761 1,740,073 2
Total Assets 2,348,681 77,459,508 100 LIABILITIES AND STOCKHOLDERS'
EQUITY Liabilities Accounts payable 231,689 7,641,111 10 Current
portion of long-term debt -- -- -- Other current liability 195,942
6,462,173 8 Long-term loans -- -- -- Other liabilities 8,338
274,998 1 Total Liabilities 435,970 14,378,282 19 Stockholders'
Equity Capital stock 944,925 31,163,611 40 Capital reserve 498,894
16,453,527 21 Legal reserve 173,451 5,720,419 7 Retained earnings
270,990 8,937,249 12 Unrealized gain or loss on financial
instruments 23,261 767,157 -- Cumulated translation adjustment
6,324 208,577 -- Net loss not recognized as pension cost (5,134)
(169,314) -- Treasury stock -- -- -- Total Equity 1,912,712
63,081,226 81 Total Liabilities & Shareholders' Equity
2,348,681 77,459,508 100 Forex (NT$ per US$) 32.98 (1) All figures
are under ROC GAAP. SILICONWARE PRECISION INDUSTRIES CO., LTD.
UNCONSOLIDATED BALANCE SHEET As of Dec 31, 2009 and 2008 (Expressed
in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD))
(Continued) Dec 31,2008 Sequential ASSETS NTD % Change % Cash and
cash equivalent 18,319,338 25 715,198 4 Accounts receivable
6,838,195 9 3,964,651 58 Inventories 2,193,018 3 542,902 25 Other
current assets 1,580,188 3 428,874 27 Total current assets
28,930,739 40 5,651,625 20 Long-term investments 4,565,228 6
3,213,432 70 Fixed assets 68,856,762 96 771,319 1 Less accumulated
depreciation (32,899,160) -46 (3,370,510) 10 Net fixed assets
35,957,602 50 (2,599,191) -7 Other assets 2,862,429 4 (1,122,356)
-39 Total Assets 72,315,998 100 5,143,510 7 LIABILITIES AND
STOCKHOLDERS' EQUITY Liabilities Accounts payable 4,689,574 7
2,951,537 63 Current portion of long-term debt 749,354 1 (749,354)
-100 Other current liability 5,148,080 7 1,314,093 26 Long-term
loans 2,248,065 3 (2,248,065) -100 Other liabilities 166,804 --
108,194 65 Total Liabilities 13,001,877 18 1,376,405 11
Stockholders' Equity Capital stock 31,525,899 43 (362,288) -1
Capital reserve 16,820,211 24 (366,684) -2 Legal reserve 5,089,066
7 631,353 12 Retained earnings 6,453,435 9 2,483,814 38 Unrealized
gain or loss on financial instruments -- -- 767,157 100 Cumulated
translation adjustment 296,866 -- (88,289) -30 Net loss not
recognized as pension cost (77,172) -- (92,142) 119 Treasury stock
(794,184) -1 794,184 -100 Total Equity 59,314,121 82 3,767,105 6
Total Liabilities & Shareholders' Equity 72,315,998 100
5,143,510 7 Forex (NT$ per US$) 32.8 (1) All figures are under ROC
GAAP. Contact: Siliconware Precision Industries Co., Ltd. No.45,
Jieh Show Rd. Hsinchu Science Park, Hsinchu, Taiwan, 30056
http://www.spil.com.tw/ Janet Chen, IR Director Email: Tel:
+886-3-5795678#3675 Byron Chiang, Spokesperson Email: Tel:
+886-3-5795678#3671 DATASOURCE: Siliconware Precision Industries
Co., Ltd. CONTACT: Janet Chen, IR Director, +886-3-5795678, ext
3675, or , or Byron Chiang, Spokesperson, +886-3-5795678 ext 3671,
or , both for Siliconware Precision Industries Co., Ltd. Web site:
http://www.spil.com.tw/
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