Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE) filed this Form 6-K on November 7, 2013, to report unaudited consolidated net revenues for the month ended October 31, 2013. ASE is a leading provider of outsourced semiconductor packaging and testing services, headquartered in Kaoshiung, Taiwan.
Key Financial Metrics
The filing provides revenue data for October 2013 compared to September 2013 and October 2012. Profit, cash flow, margins, debt, and liquidity metrics are not disclosed in this monthly revenue announcement.
| Metric | Oct 2013 (NT$M) | Sep 2013 (NT$M) | Oct 2012 (NT$M) | Seq. Change | YoY Change |
|---|---|---|---|---|---|
| Consolidated Net Revenues | 20,763 | 20,390 | 17,633 | +1.8% | +17.7% |
| Consolidated Net Revenues (US$M) | 707 | 685 | 603 | +3.2% | +17.1% |
| ATM Net Revenues (NT$M) | 13,149 | 13,070 | 11,788 | +0.6% | +11.5% |
| ATM Net Revenues (US$M) | 448 | 439 | 403 | +2.0% | +11.0% |
Note: ATM refers to Assembly, Test, and Material business excluding Universal Scientific Industrial Co., Ltd. (USI), which has been consolidated since February 1, 2010.
Material Changes
- Sequential Growth: Consolidated net revenues increased by 1.8% (NT$) and 3.2% (US$) compared to September 2013.
- Year-Over-Year Growth: Consolidated net revenues grew significantly by 17.7% (NT$) and 17.1% (US$) compared to October 2012.
- Core Business Performance: The ATM segment (excluding USI) showed more modest growth, with a 0.6% sequential increase and 11.5% year-over-year increase in NT$ terms.
Guidance, Outlook, and Risks
The filing contains no specific financial guidance or management commentary regarding future quarters beyond standard forward-looking statements. The document includes a Safe Harbor Notice identifying several risks that could cause actual results to differ materially from expectations:
- Cyclicality and market conditions in the semiconductor industry.
- Highly competitive industry environment and demand for outsourced services.
- Ability to introduce new packaging and testing technologies.
- Integration of pending and future mergers and acquisitions.
- Geopolitical tensions between the Republic of China and the People's Republic of China.
- Fluctuations in foreign currency exchange rates.
- General economic conditions and potential disruptions from natural or human-induced disasters.
Investor Verification Checklist
- Verify the exchange rate used to convert NT$ to US$ for the reported period to ensure accurate margin analysis.
- Review the 2012 Annual Report on Form 20-F for detailed risk factors and historical financial context.
- Monitor subsequent filings for profit margins and cash flow data, as this filing only reports revenue.
- Assess the impact of the USI consolidation on the reported growth rates versus the core ATM business performance.