Advanced Semiconductor Engineering Q4 Profit Rises, Revenue Climbs 15% - Update

(RTTNews) - Advanced Semiconductor Engineering, Inc. (ASX) Friday said its fourth-quarter profit increased from the prior year, supported by a 15 percent growth in revenues.

Net income attributable to shareholders of the parent increased to NT$5.815 billion ($0.19 billion) from last year's NT$4.373 billion.

Net revenues jumped 15 percent to NT$64.164 billion from NT$56.01 billion. Net revenues from IC ATM operations jumped 10 percent to NT$37.900 billion, while contribution from EMS operations climbed 41 percent to NT$28.420 billion.

Net revenues generated from packaging operations grew 12 percent to NT$30.929 billion. Testing operations generated NT$6.225 billion, up 3 percent from last year.

Jason Chang, Chairman and CEO, said, "As we move further into 2014, we are strategically integrating synergies between our well established OSAT and EMS business units. Such close collaboration will ensure that our Company is in a solid position to capture the opportunities we see ahead, particularly related to delivering advanced packaging and SiP solutions to meet growth momentum across a broad range of end markets."

For 2013, the company reported net income attributable to shareholders of the parent of NT$16.296 billion, compared to NT$13.066 billion in the prior year. Annual net revenues rose to NT$219.862 billion from NT$193.972 billion.

Looking ahead to the first quarter of 2014, the company expects its IC-ATM revenues to decline 12 to 15 percent and its EMS revenues to show a seasonal decline of 30 percent. Consolidated gross profit margin is expected to be between 17 and 18 percent.

The company expects capital expenditure for 2014 to be around $700 million, subject to adjustments in line with market condition. The outlook is based on its current business outlook and exchange rate assumption.

AX closed up 1.3 percent on Thursday at $4.53.