Earnings per ordinary share for the quarter were NT$0.11. Earnings per ADS (Note 2) were US$0.019. The basic weighted average number of outstanding shares in 1Q12 was 12,613,307,158, compared with 12,609,375,064 shares in 4Q11 and 12,513,899,178 shares in 1Q11. The diluted weighted average number of outstanding shares was 13,420,471,778 in 1Q12, compared with 13,319,535,653 shares in 4Q11 and 12,810,053,573 shares in 1Q11. The fully diluted share count on March 31, 2012 was approximately 14,087,125,000. On March 14, 2012, UMC retired 158 million treasury shares bought from the 13th share buy-back program. As of March, 31, 2012, there are a total of 300 million shares of treasury stock outstanding purchased from the 14th buy-back program.
Note 2: |
One ADS represents five Taiwan-listed ordinary shares. |
Detailed Financials Section
Due to lower blended ASP, revenue did not keep pace with the improved wafer shipment. Total operating expense declined 13% to NT$3.23 billion, mainly from the reduced sales & marketing expenses largely associated with a bad debt expense accrued in 4Q11 but not in 1Q12. The total R&D expense was 9.1% of revenue in 1Q12.
COGS & Expenses | |||||
(Amount: NT$ million) |
1Q12 |
4Q11 |
QoQ %
|
1Q11 |
YoY %
|
Revenue |
23,765 |
24,425 |
(2.7) |
28,118 |
(15.5) |
COGS |
(19,215) |
(19,875) |
(3.3) |
(20,376) |
(5.7) |
Depreciation |
(6,794) |
(6,800) |
(0.1) |
(5,840) |
16.3 |
Other Mfg. Costs |
(12,421) |
(13,075) |
(5.0) |
(14,536) |
(14.6) |
Gross Profit |
4,550 |
4,550 |
0.0 |
7,742 |
(41.2) |
Gross Margin (%) |
19.1% |
18.6% |
|
27.5% |
|
Total Operating Exp. |
(3,226) |
(3,710) |
(13.0) |
(3,300) |
(2.2) |
G&A |
(552) |
(601) |
(8.2) |
(668) |
(17.4) |
Sales & Marketing |
(509) |
(822) |
(38.1) |
(452) |
12.6 |
R&D |
(2,165) |
(2,287) |
(5.3) |
(2,180) |
(0.7) |
Operating Income |
1,324 |
840 |
57.6 |
4,442 |
(70.2) |