Siliconware Precision Industries Reports a 5.7% Quarter-over-Quarter Decline in Revenues Resulting in Earnings per Share of NT$ 0.86 or Earnings per ADS is US$ 0.13 for Third Quarter 2015

SILICONWARE PRECISION INDUSTRIES CO., LTD.

CONSOLIDATED BALANCE SHEET (UNAUDITED)

As of Sept 30, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD))

Sept  30,2015

Sept  30,2014

Sequential

ASSETS

USD

NTD

%

NTD

%

Change

%

Current Assets

Cash and cash equivalent

682,587

22,436,629

19

20,138,596

18

2,298,033

11

Accounts receivable

519,187

17,065,686

14

18,926,743

17

(1,861,057)

-10

Inventories

130,634

4,293,936

4

4,440,428

4

(146,492)

-3

Other current assets

55,700

1,830,864

1,819,328

1

11,536

1

Total current assets

1,388,108

45,627,115

38

45,325,095

40

302,020

1

Non-current Assets

Available-for-sale financial assets

196,284

6,451,861

5

8,477,221

8

(2,025,360)

-24

Long-term investment under equity method

1,257

41,318

─

135,709

─

(94,391)

-70

Property, plant and equipment

1,995,564

65,594,191

55

57,652,745

51

7,941,446

14

Intangible assets

6,179

203,097

─

274,240

─

(71,143)

-26

Other assets

54,284

1,784,320

2

1,496,319

1

288,001

19

     Total non-current assets

2,253,568

74,074,787

62

68,036,234

60

6,038,553

9

Total Assets

3,641,676

119,701,902

100

113,361,329

100

6,340,573

6

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities

Current Liabilities

Short-term loans

85,000

2,793,950

2

2,585,700

2

208,250

8

Financial liabilities at fair value through profit or loss-current

11,377

373,971

─

─

─

373,971

─

Accounts payable

196,168

6,448,043

5

7,624,719

7

(1,176,676)

-15

Current portion of long-term debt 

123,934

4,073,723

3

6,805,331

6

(2,731,608)

-40

Other current liability

426,184

14,008,667

13

12,617,537

11

1,391,130

11

Non-current Liabilities 

Bonds payable

382,311

12,566,577

11

─

─

12,566,577

─

Long-term loans

267,088

8,779,183

7

14,182,351

13

(5,403,168)

-38

Other liabilities

43,172

1,419,040

1

1,362,088

1

56,952

4

Total  Liabilities

1,535,234

50,463,154

42

45,177,726

40

5,285,428

12

Stockholders' Equity

Capital stock

948,087

31,163,611

26

31,163,611

27

─

─

Capital reserve

479,806

15,771,210

13

15,771,441

14

(231)

─

Legal reserve

303,248

9,967,775

8

8,797,005

8

1,170,770

13

Retained earnings

308,281

10,133,190

9

8,663,479

8

1,469,711

17

Other equity

67,020

2,202,962

2

3,788,067

3

(1,585,105)

-42

Total Equity

2,106,442

69,238,748

58

68,183,603

60

1,055,145

2

3,641,676

119,701,902

100

113,361,329

100

6,340,573

6

Forex ( NT$ per US$ ) 

32.87

30.420

(1)All figures are under T-IFRS.  

(2)Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, the impact of newly effected GAAP shall be restroactively applied. The consolidated condensed balance sheets of Sept 30, 2014 have been updated accordingly.

SILICONWARE  PRECISION  INDUSTRIES  CO.,  LTD.

CONSOLIDATED INCOME STATEMENT (UNAUDITED)

(Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD))

3 months ended on Spet 30

Sequential Comparison

Non-operating Items

3Q 2014

YOY

3Q 2015

2Q 2015

QOQ

USD

NTD

%

NTD

change %

NTD

NTD

change %

Revenues

626,418

20,029,703

100.0

21,652,107

-7.5

20,029,703

21,240,037

-5.7

Cost of Goods Sold

(471,935)

(15,090,116)

-75.3

(16,100,965)

-6.3

(15,090,116)

(15,459,056)

-2.4

Gross Profit

154,483

4,939,587

24.7

5,551,142

-11.0

4,939,587

5,780,981

-14.6

Operating Expenses

Selling Expenses

(7,620)

(243,652)

-1.2

(250,950)

-2.9

(243,652)

(259,626)

-6.2

Administrative Expenses

(25,056)

(801,151)

-4.0

(708,279)

13.1

(801,151)

(941,586)

-14.9

Research and Development Expenses

(30,209)

(965,931)

-4.9

(964,576)

0.1

(965,931)

(984,176)

-1.9

(2,010,734)

-10.1

(1,923,805)

4.5

(2,010,734)

(2,185,388)

-8.0

Operating Income

91,598

2,928,853

14.6

3,627,337

-19.3

2,928,853

3,595,593

-18.5

Non-operating Items

3,812

121,878

0.6

341,007

-64.3

121,878

736,825

-83.5

Income Before Income Tax

95,410

3,050,731

15.2

3,968,344

-23.1

3,050,731

4,332,418

-29.6

Income Tax Expenses 

(11,522)

(368,427)

-1.8

(708,168)

-48.0

(368,427)

(654,928)

-43.7

Net Income

83,888

2,682,304

13.4

3,260,176

-17.7

2,682,304

3,677,490

-27.1

Other comprehensive income

Exchange difference on translation of foreign financial statements 

8,099

258,970

180,012

(97,201)

Unrealized loss on available-for-sale financial assets 

(51,759)

(1,655,007)

(1,419,352)

(1,364,486)

Income tax relating to items that may be reclassified to profits or loss 

949

30,363

120,186

20,610

Total other comprehensive income 

(42,711)

(1,365,674)

(1,119,154)

(1,441,077)

Total comprehensive income 

41,177

1,316,630

2,141,022

2,236,413

Earnings Per Ordinary Share-Basic 

NT$     0.86

NT$     1.05

NT$     1.18

Earnings Per Ordinary Share- Diluted 

NT$     0.86

NT$     1.04

NT$     0.93

Earnings Per ADS- Diluted 

US$     0.13

US$     0.17

US$     0.15

Weighted Average Outstanding Shares - Diluted ('k)

3,129,886

3,125,037

3,374,893

Forex ( NT$ per US$ ) 

31.975

30.01

30.835

(1) All figures are under TIFRS.  

(2) 1 ADS is equivalent to 5 Common Shares.   

(3)Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, the impact of newly effected GAAP shall be restroactively applied. The consolidated condensed Income Statement of Sept 30, 2014 have been updated accordingly.    

SILICONWARE PRECISION INDUSTRIES CO., LTD.

CONSOLIDATED INCOME STATEMENT (UNAUDITED)

For the nine Months Ended on Sept 30, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD))

9 months ended on Sept 30, 2015 and 2014

YOY

USD

NTD

%

NTD

Change %

Net Sales

1,975,249

62,074,982

100.0

61,640,526

0.7

Cost of Goods Sold

(1,460,508)

(45,907,965)

-74.0

(46,425,302)

-1.1

Gross Profit

514,741

16,167,017

26.0

15,215,224

6.3

Operating Expenses

Selling expenses

(23,921)

(751,726)

-1.2

(690,430)

8.9

Administrative expenses

(81,604)

(2,562,713)

-4.1

(1,908,678)

34.3

Research and development expenses

(90,957)

(2,858,895)

-4.6

(2,650,855)

7.8

(196,482)

(6,173,334)

-9.9

(5,249,963)

17.6

Operating Income

318,259

9,993,683

16.1

9,965,261

0.3

Non-operating Items

13,271

403,618

0.6

619,130

-34.8

Income Before Income Tax

331,530

10,397,301

16.7

10,584,391

-1.8

Income Tax Expenses 

(45,441)

(1,423,007)

-2.3

(1,855,247)

-23.3

Net Income

286,089

8,974,294

14.4

8,729,144

Other comprehensive income

Exchange difference on translation of foreign financial statements 

142

10,297

113,851

Unrealized gain(loss) on available-for-sale financial assets 

(81,054)

(2,548,042)

2,425,687

Income tax relating to items that may be reclassified to profits or loss 

1,425

44,909

63,577

Total other comprehensive income 

(79,487)

(2,492,836)

2,603,115

Total comprehensive income 

206,602

6,481,458

11,332,259

Earnings Per Ordinary Share- Basic 

NT$     2.88

NT$     2.80

Earnings Per Ordinary Share- Diluted 

NT$     2.63

NT$     2.78

Earnings Per ADS- Diluted 

US$     0.42

US$     0.46

Weighted Average Outstanding Shares - Diluted ('k)

3,407,264

3,139,434

Forex ( NT$ per US$) 

31.362

30.11

(1)All figures are under TIFRS .  

(2) 1 ADS is equivalent to 5 Common Shares.   

(3)Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, the impact of newly effected GAAP shall be restroactively applied. The consolidated condensed Income Statement of Sept 30, 2014 have been updated accordingly.

SILICONWARE  PRECISION  INDUSTRIES  CO.,  LTD.

CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS (UNAUDITED)

For 9 Months Ended on Sept 30, 2015 and 2014

(Expressed in Thousands of New Taiwan Dollars (NTD) and U.S. Dollars (USD))

9 months, 2015

9 months, 2014

USD

NTD

NTD

Cash Flows from Operating Activities:

   Net income before tax

331,530

10,397,301

10,584,391

   Depreciation  

307,889

9,678,952

8,748,015

   Amortization

14,818

465,771

441,642

   Change in working capital & others

(38,399)

(1,107,337)

(2,969,588)

Net cash flows provided from operating activities

615,838

19,434,687

16,804,460

Cash Flows from Investing Activities:

   Acquisition of property, plant, and equipment

(342,150)

(10,785,106)

(10,896,185)

   Proceeds from disposal of available-for-sale financian assets

─

─

674,622

   Proceeds from disposal of equipments

3,159

99,610

293,058

   Increase of equity investment

─

─

(63,818)

   Payment for other changes

(12,479)

(392,060)

(450,228)

Net cash used in investing activities

(351,470)

(11,077,556)

(10,442,551)

Cash Flows from Financing Activities:

   Proceeds from long-term loans

46,912

1,500,000

3,850,000

   Repayment of long-term loan

(261,535)

(8,235,833)

(1,589,083)

   Cash dividends distributed to shareholders 

(292,387)

(9,349,083)

(5,609,436)

   Increase (decrease) in deposit-in

(90)

(2,305)

114,399

Net cash used in financing activities

(507,100)

(16,087,221)

(3,234,120)

Foreign currency exchange effect 

319

12,006

35,560

Net increase (decrease) in cash and cash equivalents

(242,413)

(7,718,084)

3,163,349

Cash and cash equivalents at beginning of period

956,594

30,154,713

16,975,247

Cash and cash equivalents at end of period

714,181

22,436,629

20,138,596

Forex ( NT$ per US$ ) 

31.362

30.11

(1) All figures are under TIFRS.  

(2)Starting in 2015, SPIL prepares financial statements in accordance with 2013 IFRSs version endorsed by Taiwan. Under IFRS, the impact of newly effected GAAP shall be restroactively applied. The consolidated condensed Cash Flow Statement of Sept 30, 2014 have been updated accordingly.