FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of February, 2003
Commission File Number 001-16125
Advanced Semiconductor Engineering, Inc.
( Exact name of Registrant as specified in its charter)
26 Chin Third Road
Nantze Export Processing Zone
Kaoshiung, Taiwan
Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
--- ---
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the registrant
foreign private issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as
the report or other document is not a press release, is not required to be and
has not been distributed to the registrant's security holders, and, if
discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
--- ---
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
Not applicable
--------------
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ADVANCED SEMICONDUCTOR
ENGINEERING, INC.
Date: February 19, 2003 By: /s/ Joseph Tung
-------------------------------
Name: Joseph Tung
Title: Chief Financial Officer
Advanced Semiconductor Engineering, Inc. [LOGO OMITTED]
FOR IMMEDIATE RELEASE
Contact:
ASE, Inc. Joseph Tung, CFO/Vice President
Freddie Liu, Assistant Vice President
Room 1901, No. 333, Section 1
Keelung Road, Taipei, Taiwan, 110 ir@aseglobal.com
Tel: + 886-2-8780-5489 http://www.aseglobal.com
Fax: + 886-2-2757-6121
ADVANCED SEMICONDUCTOR ENGINEERING, INC. REPORTS CONSOLIDATED
YEAR 2002 FOURTH-QUARTER AND FULL-YEAR FINANCIAL RESULTS
Taipei, Taiwan, R.O.C., February 18th, 2003 - Advanced Semiconductor
Engineering, Inc. (TAIEX: 2311, NYSE: ASX), ("ASE", or the "Company"), one of
the world's largest independent providers of semiconductor packaging and
testing services, today reported fourth-quarter revenues1 of NT$12,854 million,
up 8% sequentially and up 25% from the year ago period. Full-year revenues were
NT$45,587 million, up 19% from 2001.
In the fourth quarter of 2002, the Company's consolidated subsidiary, ASE Test
Limited, took a NT$1,226 million non-cash impairment charge against some of its
test equipment to reflect the decline in economic values. As a result, the
Company's net loss amounted to NT$29 million in the fourth quarter ended
December 31, 2002. Diluted loss per share for the quarter was NT$0.01, or
US$0.001 per ADS2. Excluding the impairment charge, the Company's net income
for the fourth quarter was NT$590 million, and earnings per share were NT$0.19,
or US$0.03 per ADS.
For the twelve months ended December 31, 2002, the Company's net income totaled
NT$129 million, representing earnings per share of NT$0.04 or earnings per ADS
of US$0.006. Excluding the one-time impairment charge, net income for the full
year 2002 amounted to NT$748 million, or NT$0.24 per share, or US$0.035 per
ADS.
"We are pleased with our performance in 2002," commented Mr. Jason Chang,
Chairman of ASE. "Even though the overall semiconductor industry remained
lackluster throughout the year, we have delivered our commitment to
shareholders in achieving sequential revenue growth and margin improvement
every quarter. As a result of our continuing investment in research and
development, as well as the leading-edge assembly and test capacity, we were
able to capture the "sweet spot" in the subcontract IC backend business. The
worldwide IC backend manufacturing capacity may not have reached an equilibrium
stage, but we witnessed growing demand for high-end fine pitch wirebonding and
flip-chip assembly capacity. While many industry players have been constrained
financially, ASE has been able to align its capital spending to meet its
customers' present and future requirements, thus further expanding market
share, especially with leading IDMs."
Mr. Chang concluded his comment by saying: "Aside from expanding our market
share through superior service offerings, we are also committed to improving
our profitability. The IC assembly and test business has gone through a
revolutionary change. The key differentiating factors among all the
subcontractors are no longer price, but rather the completeness of the services
and the availability and capability of providing cutting-edge capacity. ASE is
striving to set a new industry standard in terms of cycle time, service quality
and technical capabilities. These elements are becoming ASE's core competence
that will further differentiate ourselves from our competitors."
--------------------
1 All financial information is in accordance with generally accepted accounting
principles in the Republic of China and was unaudited.
2 One ADS is equal to 5 shares of the Company.
1 February 18, 2003
Advanced Semiconductor Engineering, Inc. [LOGO OMITTED]
Consolidated Financial Results
Fourth Quarter Results
o Net revenues amounted to NT$12,854 million, up 8% sequentially and up 25%
versus year ago quarter. The revenue contribution can be broken down into
NT$10,058 million from assembly operations, NT$2,788 million from testing
operations and NT$8 million from other revenues.
o Revenues from the Company's IDM customers accounted for 57% of total
revenues, up 3% sequentially. The Company's top 10 customers contributed
59% of its revenues during the quarter.
o Costs of goods sold were NT$10,532 million and included NT$2,908 million
in depreciation expenses.
o Gross profit for the quarter was NT$2,322 million, representing a gross
margin of 18%, up from 16% in 3Q02.
o Total operating expenses were NT$3,031 million, including NT$592 million
in research and development expenses. Goodwill amortization related to the
acquisition of consolidated entities was NT$207 million. Selling, general
and administrative expenses totaled NT$1,213 million. A non-cash
impairment charge of NT$1,226 million was recognized during the fourth
quarter to reflect the declining economic value of certain test equipments
owned by ASE Test Limited, a major subsidiary of ASE. As a result of this
one-time charge, operating loss amounted to NT$709 million, representing
an operating margin of negative 6%. Excluding the impairment charge, total
operating expenses amounted to NT$1,805 million, and operating profit
would have been NT$517 million, representing an operating margin of 4%.
o Net interest expense for the quarter was NT$417 million. Foreign exchange
loss amounted to NT$137 million, as a result of the depreciation of the US
dollars against the Japanese Yen.
o The Company recognized an investment loss of NT$77 million from its
minority-owned affiliates, including NT$45 million from Hung Ching
Construction, NT$38 million from other investee companies and NT$6 million
investment income from Universal Scientific Industrial Co., LTD. ("USI").
The goodwill amortization related to non-consolidated affiliates was NT$81
million.
o Loss before tax was NT$1,490 million. The Company recognized an income tax
benefit of NT$551 million during the quarter. Minority interest adjustment
for the quarter amounted to NT$910 million.
o Net loss amounted to NT$29 million in the fourth quarter ended December
31, 2002. Without taking the impairment charge, the Company's net income
was NT$590 million.
o Based on Company's 3,090,678,000 shares outstanding3, the Company's loss
per share for the fourth quarter of 2002 was NT$0.01, or US$0.001 per ADS.
Excluding the one-time charge, earnings per share and earnings per ADS
were NT$0.19 and US$0.03, respectively.
--------------------------------------------------------------------------
Q4/02 - Excluding
In NT$ Million Q4/02 Actual % Impairment Charge %
--------------------------------------------------------------------------
Net revenues 12,854 100 12,854 100
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Cost of goods sold 10,532 82 10,532 82
--------------------------------------------------------------------------
Gross profit 2,322 18 2,322 18
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Operating expenses 3,031 24 1,805 14
--------------------------------------------------------------------------
R&D 592 5 592 5
--------------------------------------------------------------------------
SG&A 1,213 9 1,213 9
--------------------------------------------------------------------------
Impairment charge 1,226 10 0 0
--------------------------------------------------------------------------
Operating profit (709) (6) 517 4
--------------------------------------------------------------------------
---------------
3 Effective January 1, 2002, ROC GAAP requires that the Company's stocks held
and owned by its subsidiaries be presented as treasury stocks. As a result of
this ROC GAAP change, total number of outstanding shares used in calculating
the Company's EPS has been reduced from 3,254,800,000 shares to 3,090,678,000
shares, reflecting a deduction of 164,122,000 shares representing Company's
stock held by its subsidiaries.
2 February 18, 2003
Advanced Semiconductor Engineering, Inc. [LOGO OMITTED]
2002 Full-Year Results
o The Company's full-year revenues were NT$45,587 million, an increase of
19% versus the previous year. Assembly revenues were NT$35,515 million, up
23% compared to the previous year. Testing revenues amounted to NT$10,061
million, an increase of 6% over 2001. The testing business recovered in a
slower pace compared to the assembly business as a result of higher level
of overcapacity in the testing industry.
o Gross profit increased 31% year-on-year to NT$7,095 million. Gross margin
improved to 16% from 14% in 2001. Total depreciation expenses increased
from NT$10,375 million in the previous year to NT$11,398 million, as a
result of increased capital investment in advanced assembly and testing
equipment. As a percentage of total revenues, depreciation expenses
decreased from 27% in 2001 to 25% in 2002, reflecting higher level of the
Company's equipment utilization in 2002.
o Research and development expenses increased 36% to NT$2,049 million, or 1%
in terms of total revenues. Selling, general and administrative expenses,
excluding the one-time impairment charge, increased 3% to NT$4,505
million. As a percentage of total revenues, however, SG&A expenses were
down from 11% to 10%, as a result of our continuous effort in controlling
expenses.
o Net interest expense reduced to NT$1,579 million from NT$1,739 million in
2001, reflecting the lower interest rate in 2002, as well as the
retirement of the US$200 million Euro-convertible bond in the third
quarter of 2002.
o The Company's full-year net income was NT$129 million, or NT$748 million
excluding the one-time asset impairment charge. Earnings per share were
NT$0.04, or US$0.006 per ADS. Excluding the one-time impairment charge,
earnings per share were NT$0.24, or US$0.035 per ADS.
--------------------------------------------------------------------------
2002 - Excluding
In NT$ Million 2002 Actual % Impairment Charge %
--------------------------------------------------------------------------
Net revenues 45,587 100 45,587 100
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Cost of goods sold 38,492 84 38,492 84
--------------------------------------------------------------------------
Gross profit 7,095 16 7,095 16
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Operating expenses 7,780 17 6,554 15
--------------------------------------------------------------------------
R&D 2,049 5 2,049 5
--------------------------------------------------------------------------
SG&A 4,505 10 4,505 10
--------------------------------------------------------------------------
Impairment charge 1,226 2 0 0
--------------------------------------------------------------------------
Operating profit (685) (2) 540 1
--------------------------------------------------------------------------
CAPITAL EXPENDITURES AND LIQUIDITY
o Capital expenditures in Q4 2002 totaled US$106 million.
- The breakdown of the capital expenditures by operations is as
follows: US$66 million for assembly operations, US$30 million for
testing operations and US$10 million for material manufacturing
operations.
o For the full year 2002, the Company spent US$417 million in capital
expenditures, an increase of US$188 million, or 82% over 2001 CapEx. Of
the US$417 million capital expenditures made by the Company, NT$232
million was for assembly operations, NT$133 million was for testing
operations, and NT$52 million was for material manufacturing operations.
o EBITDA for the quarter totaled NT$3,681 million. Full year EBITDA was
NT$13,925 million, an increase of 14% compared to 2001 EBITDA.
o As of December 31, 2002, the Company had cash on hand plus short-term
investment of NT$11,867 million, as compared to NT$12,445 million as of
September 30, 2002.
o As of December 31, 2002, the Company had total bank debt of NT$35,501
million, consisting of NT$6,289 million of revolving working capital loan,
NT$5,855 million of current portion of long-term debt and NT$23,357
million of long term debt. Total unused banking facilities
3 February 18, 2003
Advanced Semiconductor Engineering, Inc. [LOGO OMITTED]
amounted to NT$10,501 million.
o Total number of employees reached 20,401 as of December 31, 2002.
Business Review
Assembly Operation
o Revenues generated from the Company's assembly operations were NT$10,058
million during the quarter, up 9% sequentially and an increase of 25%
year-over-year. The revenue growth was attributed to both higher volume
and a 1% ASP increase. For the full-year 2002, assembly revenues increased
23% to NT$35,515 million compared to previous year.
o Fine pitch assembly (i.e., bonding pad pitch below 60 micron) comprised
56% of total assembly revenues, up from 55% in the previous quarter and up
from 47% year-over-year. On a full year basis, fine pitch assembly
revenues accounted for 54% of total assembly revenues, up from 47% in
2001.
o Revenues from BGA and other substrate-based packages comprised 57% of
total assembly revenues during the quarter, up from 53% from the previous
quarter and remained unchanged compared to one year ago.
o Gross margin of the assembly operations was 19%, up 2% sequentially and
remained unchanged year-over-year. On a full-year basis, assembly gross
margin improved to 18% in 2002 from 16% in 2001.
o The average utilization rate of the assembly operations was around
mid-70%. The fine pitch assembly and flip-chip assembly capacity operated
at near-full utilization.
o Capital spending on the assembly operations amounted to US$66 million, of
which US$51 million was for the wirebonding assembly capacity, and US$15
million was for wafer bumping and flip chip assembly capacity. Total
capital spending on the assembly operations in 2002 was US$232 million, of
which US$44 million was for wafer bumping and flip-chip assembly operation
and the US$188 million was for wirebonding assembly operation.
o As of December 31, 2002, there were 4,393 wirebonders in operations, and
70% of which were capable of performing fine pitch wirebonding services. A
total of 263 wirebonders were added and 44 wirebonders were rendered
obsolete during the fourth quarter of 2002. During 2002, the Company added
889 wirebonders and disposed 268 wirebonders, resulted in a net increase
of 621 wirebonders.
Testing Operations
o Revenues generated from the Company's testing operations were NT$2,788
million, up 5% sequentially and up 28% year-over-year. Full-year testing
revenues amounted to NT$10,061 million, up 6% compared to 2001.
o Of the total testing revenues, 83% was contributed by the Company's final
test operations, 12% by the wafer sort operation, and 5% by the
engineering test operation.
o Testing revenue growth came largely from volume increase compared to
previous quarter, whereas ASP stayed flat.
o Gross margin of the test operation was 15%, compared to 11% in the
previous quarter and negative 3% in the fourth quarter of 2001.
o The average utilization rate of the testing operation was above 60%, with
higher utilization rates on advanced tester platforms.
o Capital spending on the testing operations amounted to US$30 million, and
total capital spending on the testing operations in 2002 was US$133
million.
o As of December 31, 2002, the Company operated a total of 1,066 testers,
including 32 testers added during the quarter.
Material Operations
o Materials revenues were NT$874 million for the quarter, up 20% compared to
previous quarter and down 16% versus year-ago period. In the fourth
quarter of 2002, ASE Material
4 February 18, 2003
Advanced Semiconductor Engineering, Inc. [LOGO OMITTED]
supplied 36% of the Company's total PBGA substrate consumption. The
materials revenues were not reflected in the Company's consolidated
revenues since they were inter-company sales transaction.
Business Outlook
The following statements are based on current expectations. These statements
are forward-looking, and actual results may differ materially. Economic and
industry conditions remain uncertain, and continue to make it particularly
difficult to forecast product demand.
The Company expects in the first quarter of 2003, its
o consolidated revenues to decline mid-single digit percentage sequentially;
o gross margin to decline slightly from Q4 2002;
o operating margin at low single digit percentage.
The Company budgeted US$400 million to US$500 million for capital expenditures
for 2003.
About ASE Inc.
ASE Inc. is one of the world's largest independent providers of semiconductor
packaging services and, together with its subsidiary ASE Test Limited (Nasdaq:
ASTSF), one of the world's largest independent providers of semiconductor
testing services, including front-end engineering testing, wafer probing and
final testing services. The Company's international customer base of more than
200 blue-chip customers includes such leading names as Advanced Micro Devices,
Inc., Cirrus Logic International Ltd., IBM Corporation, LSI Logic Corporation,
Motorola, Inc. , Qualcomm Incorporated and VIA Technology. With
advanced-process technological capabilities and a global presence spanning
Taiwan, Korea, Hong Kong, Singapore, Malaysia and the United States, ASE Inc.
has established a reputation for reliable, high quality products and services.
For more information, visit the website, http://www.aseglobal.com
Safe Harbor Notice
This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Although these forward-looking statements, which may
include statements regarding our future results of operations, financial
condition or business prospects, are based on our own information and
information from other sources we believe to be reliable, you should not place
undue reliance on these forward-looking statements, which apply only as of the
date of this press release. Our actual results of operations, financial
condition or business prospects may differ materially from those expressed or
implied in these forward-looking statements for a variety of reasons, including
risks associated with the highly competitive nature of the semiconductor
industry, our ability to introduce new packaging and testing technologies in
order to remain competitive, our ability to successfully integrate future
acquisitions, risks associated with international business activities, our
business strategy, general economic and political conditions, possible
disruptions in commercial activities caused by natural disasters or industrial
accidents, our future expansion plans and capital expenditures, and
fluctuations in foreign currency exchange rates. For a discussion of these
risks and other factors, please see the documents we file from time to time
with the Securities and Exchange Commission, including our Annual Report on
Form 20-F filed on June 28, 2002.
##
5 February 18, 2003
Supplemental Financial Information
Consolidated Operations
-------------------------------------------------------------------------------
Amounts in NT$ Millions 4Q/02 3Q/02 4Q/01
-------------------------------------------------------------------------------
Net Revenues 12,854 11,861 10,255
-------------------------------------------------------------------------------
Revenues by End Application
-------------------------------------------------------------------------------
Communication 38% 35% 31%
-------------------------------------------------------------------------------
Computer 35% 34% 39%
-------------------------------------------------------------------------------
Automotive and Consumers 25% 30% 29%
-------------------------------------------------------------------------------
Others 2% 1% 1%
-------------------------------------------------------------------------------
Revenues by Region
-------------------------------------------------------------------------------
North America 54% 59% 65%
-------------------------------------------------------------------------------
Europe 7% 7% 4%
-------------------------------------------------------------------------------
Taiwan 27% 24% 26%
-------------------------------------------------------------------------------
Japan 1% 2% 1%
-------------------------------------------------------------------------------
Other Asia 11% 8% 4%
-------------------------------------------------------------------------------
Assembly Operations
-------------------------------------------------------------------------------
Amounts in NT$ Millions 4Q/02 3Q/02 4Q/01
-------------------------------------------------------------------------------
Net Revenues 10,058 9,206 8,075
-------------------------------------------------------------------------------
Revenues by End Application
-------------------------------------------------------------------------------
Communication 37% 34% 30%
-------------------------------------------------------------------------------
Computer 38% 37% 42%
-------------------------------------------------------------------------------
Automotive and Consumers 24% 29% 28%
-------------------------------------------------------------------------------
Others 1% 0% 0%
-------------------------------------------------------------------------------
Revenues by Package Type
-------------------------------------------------------------------------------
BGA & other substrate-based 57% 53% 57%
-------------------------------------------------------------------------------
QFP, TQFP, LQFP 23% 27% 27%
-------------------------------------------------------------------------------
PDIP, PLCC, SOs 9% 11% 10%
-------------------------------------------------------------------------------
Others 11% 9% 6%
-------------------------------------------------------------------------------
Capacity
-------------------------------------------------------------------------------
CapEx (US$ Millions) * 66 77 16
-------------------------------------------------------------------------------
Number of Wirebonders 4,393 4,179 3,780
-------------------------------------------------------------------------------
Testing Operations
-------------------------------------------------------------------------------
Amounts in NT$ Millions 4Q/02 3Q/02 4Q/01
-------------------------------------------------------------------------------
Net Revenues 2,788 2,655 2,180
-------------------------------------------------------------------------------
Revenues by End Application
-------------------------------------------------------------------------------
Communication 40% 38% 36%
-------------------------------------------------------------------------------
Computer 24% 24% 29%
-------------------------------------------------------------------------------
Automotive and Consumers 31% 34% 32%
-------------------------------------------------------------------------------
Others 5% 4% 3%
-------------------------------------------------------------------------------
Revenues by Testing Type
-------------------------------------------------------------------------------
Final test 83% 83% 84%
-------------------------------------------------------------------------------
Wafer sort 12% 10% 8%
-------------------------------------------------------------------------------
Engineering test 5% 7% 8%
-------------------------------------------------------------------------------
Capacity
-------------------------------------------------------------------------------
CapEx (US$ Millions)* 30 57 31
-------------------------------------------------------------------------------
Number of Testers 1,066 1,058 1,082
-------------------------------------------------------------------------------
* Capital expenditure amounts exclude building construction cost.
6 February 18, 2003
Advanced Semiconductor Engineering, Inc.
Consolidated Summary Income Statements Data
(In NT$ millions, except per share data)
(Unaudited)
For the three months ended For the twelve months ended
--------------------------------------- ---------------------------
Dec. 31 Sep. 30 Dec. 31 Dec. 31 Dec. 31
2002 2002 2001 2002 2001
Net revenues:
Assembly 10,058 9,206 8,075 35,515 28,898
Testing 2,788 2,655 2,179 10,061 9,459
Others 8 0 0 11 10
--------- --------- --------- --------- ---------
Total net revenues 12,854 11,861 10,255 45,587 38,368
--------- --------- --------- --------- ---------
Cost of revenues 10,532 9,976 8,817 38,492 32,957
--------- --------- --------- --------- ---------
Gross Profit 2,322 1,885 1,437 7,095 5,411
--------- --------- --------- --------- ---------
Operating expenses:
Research and development 592 541 388 2,049 1,505
Selling, general and
administrative 2,439 1,122 1,188 5,731 4,368
--------- --------- --------- --------- ---------
Total operating expenses 3,031 1,663 1,576 7,780 5,873
--------- --------- --------- --------- ---------
Operating income (loss) (709) 222 (139) (685) (462)
--------- --------- --------- --------- ---------
Other (income) expenses:
Interest expenses, net 417 386 448 1,579 1,739
Foreign currency loss (gain), net 137 (4) (2) 398 (247)
Loss (gain) on long-term investment 158 94 623 410 1,247
Loss (gain) on dispose of assets 50 8 115 106 116
Others 19 8 189 (422) (139)
--------- --------- --------- --------- ---------
Total non-operating expenses 781 492 1,373 2,071 2,716
--------- --------- --------- --------- ---------
Income (loss) before tax (1,490) (270) (1,512) (2,756) (3,178)
--------- --------- --------- --------- ---------
Income tax expense (benefit) (551) (288) (151) (1,152) (247)
--------- --------- --------- --------- ---------
Net income (loss) before minority
interest (939) 18 (1,362) (1,604) (2,931)
--------- --------- --------- --------- ---------
Minority interest (910) (297) (164) (1,733) (789)
Net income (29) 315 (1,198) 129 (2,142)
Per share data:
EPS - Basic NT$(0.01) NT$0.10 NT$(0.37) NT$0.04 NT$(0.66)
EPS - Diluted NT$(0.01) NT$0.10 NT$(0.37) NT$0.04 NT$(0.66)
Earnings per ADS - Basic US$(0.001) US$0.015 US$(0.053) US$0.006 US$(0.098)
Earnings per ADS - Diluted US$(0.001) US$0.015 US$(0.053) US$0.006 US$(0.098)
Number of weighted average shares
used in the EPS calculation (in
thousands, retroactively adjusted
for stock dividend) 3,090,678 3,090,678 3,254,800 3,090,678 3,254,800
Forex (NT$ per US$1) 34.80 33.75 34.53 34.55 33.74
7 February 18, 2003
Advanced Semiconductor Engineering, Inc.
Consolidated Summary Balance Sheet Data
(In NT$ millions)
(Unaudited)
As of As of
Dec. 31, 2002 Sep. 30, 2002
------------- -------------
Current assets:
Cash and cash equivalents 9,829 8,086
Short-term investments 2,038 4,359
Notes and accounts receivable 8,999 8,396
Inventories 3,132 2,977
Others 3,034 2,606
------------ ------------
Total 27,032 26,424
Long-term investments 6,567 6,673
Properties - net 63,089 63,792
Other assets 8,217 7,999
------------ ------------
Total assets 104,905 104,888
------------ ------------
Current liabilities:
Short-term debts- revolving credit 6,289 6,529
Short-term debts- current portion of
long-term debts 5,855 8,732
Notes and accounts payable 4,047 3,674
Others 7,646 7,075
------------ ------------
Total 23,837 26,010
Long-term debts 23,357 19,562
Convertible bond payable 5,180 5,112
Other liabilities 3,022 3,670
------------ ------------
Total liabilities 55,396 54,354
Minority interest 10,078 11,019
Shareholders' equity 39,431 39,515
------------ ------------
Total liabilities & shareholders' equity 104,905 104,888
------------ ------------
8 February 18, 2003