Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE) filed a Form 6-K on March 7, 2014, reporting unaudited consolidated net revenues for the month ended February 2014. ASE is a leading provider of outsourced semiconductor packaging and testing services, headquartered in Kaoshiung, Taiwan.
Key Financial Metrics
| Metric | Feb 2014 (NT$M) | Jan 2014 (NT$M) | Feb 2013 (NT$M) | Seq. Change | YoY Change |
|---|---|---|---|---|---|
| Consolidated Net Revenues | 16,243 | 18,589 | 14,434 | -12.6% | +12.5% |
| Consolidated Net Revenues (US$M) | 537 | 621 | 491 | -13.4% | +9.5% |
| ATM Net Revenues (Excl. USI) | 10,769 | 11,133 | 9,623 | -3.3% | +11.9% |
| ATM Net Revenues (US$M) | 356 | 372 | 327 | -4.1% | +8.9% |
Note: The filing does not provide data on profit, cash flow, margins, debt, or liquidity for this period. ATM revenues exclude Universal Scientific Industrial Co., Ltd. (USI), which has been consolidated into ASE since February 2010.
Material Changes
- Sequential Decline: Consolidated net revenues decreased 12.6% sequentially from January 2014 to February 2014, reflecting typical seasonality or market fluctuations.
- Year-Over-Year Growth: Consolidated net revenues increased 12.5% compared to February 2013, indicating overall business expansion.
- Core Business Performance: The ATM assembly, test, and material business (excluding USI) showed a smaller sequential decline of 3.3% but maintained strong year-over-year growth of 11.9%.
Guidance, Outlook, and Risks
The filing contains no specific financial guidance or management commentary regarding future quarters. It includes a Safe Harbor Notice identifying forward-looking statements subject to various risks, including:
- Cyclicality and market conditions in the semiconductor industry.
- Competitive pressures and the ability to introduce new technologies.
- Integration risks from mergers and acquisitions.
- Geopolitical tensions between the Republic of China and the People's Republic of China.
- Foreign currency exchange rate fluctuations.
Investor Verification Checklist
- Verify the impact of the Universal Scientific Industrial Co., Ltd. (USI) consolidation on total revenue figures versus core ATM operations.
- Confirm the specific drivers behind the 12.6% sequential revenue decline in February 2014.
- Review the 2012 Annual Report on Form 20-F for detailed risk factors and historical financial context.
- Monitor foreign exchange rate impacts, as the filing presents data in both NT$ and US$ with differing percentage changes.