Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE) filed a Form 6-K on October 6, 2010, reporting unaudited consolidated net revenues for September 2010 and the third quarter of 2010. The company, a leading provider of outsourced semiconductor packaging and testing services, is based in Kaoshiung, Taiwan.
Key Financial Metrics
The filing provides revenue data but does not disclose profit, cash flow, margins, debt, or liquidity figures.
| Metric | Period | Value (NT$ Million) | Sequential Change | Year-over-Year Change |
|---|---|---|---|---|
| Consolidated Net Revenues | September 2010 | 17,368 | +0.3% | +97.2% |
| Consolidated Net Revenues | Q3 2010 | 51,489 | +10.9% | +104.3% |
| ATM Net Revenues (Excl. USI) | September 2010 | 11,278 | -2.2% | +28.1% |
| ATM Net Revenues (Excl. USI) | Q3 2010 | 34,015 | +7.3% | +35.0% |
Note: ATM refers to Assembly, Test, and Material business excluding Universal Scientific Industrial Co., Ltd. (USI).
Material Changes
- Consolidation Impact: Starting February 1, 2010, revenues from Universal Scientific Industrial Co., Ltd. (USI) were consolidated into ASE's financials, significantly impacting year-over-year comparisons.
- Revenue Growth: Consolidated revenues for Q3 2010 increased by 104.3% compared to Q3 2009, driven largely by the USI consolidation and market recovery.
- Core Business Trend: Excluding USI, the core ATM business showed a sequential decline of 2.2% in September 2010 compared to August, though it remained up 28.1% year-over-year.
Guidance, Outlook, and Risks
The filing contains no specific financial guidance or quantitative outlook for future periods. Management included a Safe Harbor Notice regarding forward-looking statements, highlighting several material risks:
- Cyclicality and market conditions in the semiconductor industry.
- Highly competitive industry environment and demand for outsourced services.
- Ability to integrate 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.
- Disruptions from natural or human-induced disasters.
Investor Verification Checklist
- Verify the specific contribution of Universal Scientific Industrial Co., Ltd. (USI) to the reported revenue growth to isolate organic performance.
- Review the 2009 Annual Report on Form 20-F for detailed risk factors and historical financial context.
- Monitor subsequent filings for profit margins and cash flow data, which are absent in this revenue-only report.
- Assess the impact of foreign currency exchange rate fluctuations on future earnings given the company's international operations.