UMC Reports First Quarter 2014 Results

A live webcast and replay of the 1Q14 results announcement will be available at www.umc.com under the "Investors / Events" section.

About UMC

UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry that provides advanced technology and manufacturing for applications spanning every major sector of the IC industry. UMC's robust foundry solutions allow chip designers to leverage the company's leading-edge processes, which include 28nm poly-SiON and gate-last High-K/Metal Gate technology, mixed signal/RFCMOS, and a wide range of specialty technologies. Production is supported through 10 wafer manufacturing facilities that include two advanced 300mm fabs; Fab 12A in Taiwan and Singapore-based Fab 12i. Fab 12A consists of Phases 1-4 which are in production for customer products down to 28nm. Construction is underway for Phases 5&6, with future plans for Phases 7&8. The company employs over 15,000 people worldwide and has offices in Taiwan, mainland China, Europe, Japan, Korea, Singapore, and the United States. UMC can be found on the web at http://www.umc.com.

Note from UMC Concerning Forward-Looking Statements

Some of the statements in the foregoing announcement are forward looking within the meaning of the U.S.  Federal Securities laws, including statements about future outsourcing, wafer capacity, technologies, business relationships and market conditions.  Investors are cautioned that actual events and results could differ materially from these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy; acceptance and demand for products from UMC; and technological and development risks. Further information regarding these and other risks is included in UMC's filings with the U.S. Securities and Exchange Commission, including its registration statements and reports on Forms F-1, F-3, F-6 and 20-F and 6-K, in each case as amended. UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law

Safe Harbor Statements

This release contains forward-looking statements.  These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995.  You can identify these forward-looking statements by use of words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning.  You can also identify them by the fact that they do not relate strictly to historical or current facts.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in 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, but not limited to: (i) our dependence upon the frequent introduction of new services and technologies based on the latest developments in our industry; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international global business activities; (iv) our dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates.  Further information regarding these and other risks is included in UMC's  filings with the U.S. Securities and Exchange Commission, including its registration statements and reports on Form F-1, F-3, F-6 and 20-F and 6-K, in each case as amended. UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

The financial statements included in this release are prepared and published in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from ROC GAAP and US GAAP.

This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

- FINANCIAL TABLES TO FOLLOW -

                UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES  

   Consolidated Condensed Balance Sheet

As of  March  31, 2014

 Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)














March  31, 2014


US$


NT$


%

Assets






Current assets






 Cash and cash equivalents

1,770


53,915


17.9%

 Financial assets at fair value through profit or loss, current

28


857


0.3%

 Available-for-sale financial assets, current

76


2,314


0.8%

 Notes & Accounts receivable, net

620


18,886


6.3%

 Inventories, net

473


14,421


4.8%

 Other current assets

209


6,360


2.0%

    Total current assets

3,176


96,753


32.1%







Non-current assets






 Funds and investments

1,138


34,652


11.5%

 Property, plant and equipment

5,187


158,013


52.4%

 Other non-current assets

400


12,209


4.0%

    Total non-current assets

6,725


204,874


67.9%

Total assets

9,901


301,627


100.0%







Liabilities






Current liabilities






 Short-term loans

247


7,516


2.5%

 Financial liabilities at fair value through profit or loss, current

1


18


0.0%

 Payables

777


23,676


7.9%

 Current portion of long-term liabilities

555


16,904


5.6%

 Other current liabilities

36


1,122


0.3%

    Total current liabilities

1,616


49,236


16.3%







Non-current liabilities






 Bonds payable

656


19,980


6.6%

 Long-term loans

252


7,679


2.6%

 Other non-current liabilities

228


6,957


2.3%

    Total non-current liabilities

1,136


34,616


11.5%

    Total liabilities

2,752


83,852


27.8%







Equity






Equity attributable to the parent company






Capital

4,170


127,029


42.1%

Additional paid-in capital

1,487


45,309


15.0%

Retained earnings, unrealized gain or loss on available-for-sale
    financial assets, exchange differences on translation of
    foreign operations and equity directly relating to non-current
    assets held for sale 

1,428


43,473


14.5%

Treasury stock

(78)


(2,365)


(0.8%)

     Total equity attributable to the parent company

7,007


213,446


70.8%

Non-controlling interests

142


4,329


1.4%

     Total equity

7,149


217,775


72.2%

Total liabilities and equity

9,901


301,627


100.0%







Note New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2014 exchange rate of NT $30.463 per U.S. Dollar.







           All figures are prepared in accordance with TIFRSs.







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