UMC Reports Fourth Quarter 2013 Results

4Q revenue from 40nm and below reached 24%, 2013 full-year EPS NT1.01

(PRNewswire) —

Fourth Quarter 2013 Overview[1]:

  • Revenue: NT$30.72 billion (US$1.03 billion)
  • Gross margin: 18.1%; operating margin: 0.6%
  • Foundry capacity utilization rate: 79%
  • Net income attributable to the stockholders of the parent: NT$0.75 billion (US$25 million)
  • Earnings per share: NT$0.06; earnings per ADS: US$0.010

[1] Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending Dec 31, 2013, the three-month period ending Sep 30, 2013, and the equivalent three-month period that ended Dec 31, 2012. For all 4Q13 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the Dec 31, 2013 exchange rate of NT$ 29.85 per U.S. Dollar.

United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ("UMC" or "The Company"), a leading global semiconductor foundry, today announced its consolidated operating results for the fourth quarter of 2013.

Revenue was NT$30.72 billion, with gross margin at 18.1% and operating margin at 0.6%. Net income attributable to the stockholders of the parent was NT$0.75 billion, with earnings per ordinary share of NT$0.06.

Mr. Po-Wen Yen, CEO of UMC, said, "In the fourth quarter of 2013, UMC recorded NT$28.58 billion in revenue from the foundry segment, with operating margin from foundry operations of 2.7%. Wafer shipments reached 1.236 million 8-inch equivalent wafers, bringing overall capacity utilization to 79%."

CEO Yen added, "During the fourth quarter of 2013, our 40nm and below business represented 24% of UMC sales. This continued growth demonstrates the strength of our 40nm platform, which has been adopted by numerous customers from a wide range of diversified markets. We also continue to achieve new milestones for our specialty technologies, recently surpassing 15 million IC shipments for our 55nm embedded high-voltage process in just one year. Our engineering teams have further miniaturized the SRAM cell for this process to power today's highest resolution smartphones, continuously pushing the boundaries of specialty technologies in 55nm and beyond. For 28nm, we have made significant strides on our 28nm status to become a competitive foundry supplier, bolstered by yield improvement that has helped us secure additional design wins. To further strengthen our 28nm design platform, we now offer ARM Artisan physical IP for our 28HLP, UMC's 28nm high performance, low power process that optimally balances die size, speed and leakage performance to target low power applications. This collaboration adds ARM's POP IP core hardening acceleration technology to shorten time-to-market through proven, rigorous silicon validation for our customers designing into 28HLP."

CEO Yen continued, "For the first quarter, we anticipate softer business due to normal early-year seasonality. In 2014, we are optimistic that UMC will benefit from product design wins across a broad spectrum of the semiconductor industry. We will leverage our manufacturing excellence and deploy capacity expansion not only for 28nm HK/MG lines, but also for upgrades at our 8" and 12" fabs to fulfill emerging requirements. As such, UMC's CAPEX for 2014 will be approximately US$1.1 billion to US$1.3 billion. This investment will help UMC to expand economies of scale to drive down manufacturing costs and achieve a prolonged structural increase in productivity. These efforts will propel UMC's market share growth in leading-edge technologies and further expand our presence in the specialty segment, strengthening our position in the foundry industry."

Summary of Operating Results

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[2] One ADS represents five Taiwan-listed ordinary shares.

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