Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE) filed this Form 6-K on January 7, 2009, to announce unaudited consolidated net revenues for December 2008 and the fourth quarter of 2008. ASE is a foreign private issuer based in Kaoshiung, Taiwan, operating in the outsourced semiconductor packaging and testing services sector.
Key Financial Metrics
The filing provides revenue data in New Taiwan Dollars (NT$) millions but does not disclose profit, cash flow, margins, debt, or liquidity figures.
| Period | Net Revenues (NT$ Million) | Sequential Change | Year-over-Year Change |
|---|---|---|---|
| December 2008 | 4,141 | -32.6% | -55.2% |
| November 2008 | 6,140 | - | - |
| December 2007 | 9,249 | - | - |
| Q4 2008 | 18,307 | -29.1% | -36.8% |
| Q3 2008 | 25,815 | - | - |
| Q4 2007 | 28,976 | - | - |
Material Changes
ASE reported significant declines in revenue compared to prior periods:
- December 2008: Revenue dropped 32.6% sequentially from November 2008 and fell 55.2% compared to December 2007.
- Q4 2008: Revenue decreased 29.1% sequentially from Q3 2008 and declined 36.8% year-over-year compared to Q4 2007.
Outlook, Risks, and Management Commentary
The filing includes a Safe Harbor Notice regarding forward-looking statements. Management highlights several risks that could cause actual results to differ materially from expectations:
- Cyclicality and market conditions in the semiconductor industry.
- Global financial crisis and general economic conditions.
- Highly competitive industry environment and demand for outsourced services.
- Fluctuations in foreign currency exchange rates.
- Geopolitical tensions between the Republic of China and the People's Republic of China.
- Challenges in integrating mergers and acquisitions and introducing new technologies.
The filing does not provide specific guidance or numerical forecasts for future periods.
Investor Verification Checklist
- Verify the severity of the 55.2% year-over-year revenue decline in December 2008 against industry-wide trends.
- Review the 2007 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 announcement.
- Assess the impact of the global financial crisis on the company's specific customer base and order book.