Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE), a foreign private issuer based in Taiwan, filed this Form 6-K on June 8, 2006. The filing disseminates a press release announcing unaudited consolidated net revenues for the month of May 2006.
Key Financial Metrics
| Metric | May 2006 | April 2006 | May 2005 |
|---|---|---|---|
| Net Revenues (NT$ Million) | 8,697 | 8,627 | 5,726 |
| Sequential Change | +0.8% | - | - |
| Year-over-Year Change | +51.9% | - | - |
Note: The filing does not provide data on profit, cash flow, margins, debt, or liquidity for this period. May 2005 revenues were retroactively adjusted to exclude revenues from the discontinued Camera Module assembly operation of ASE Malaysia.
Material Changes
- Revenue Growth: Net revenues increased by 51.9% year-over-year compared to May 2005.
- Sequential Stability: Revenues showed a slight increase of 0.8% compared to April 2006.
- Accounting Adjustment: Historical comparison data for May 2005 was adjusted to net out revenues from discontinued operations.
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 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 packaging and testing services.
- Ability to introduce new technologies and successfully integrate mergers and acquisitions.
- International business activities, general economic/political conditions, and foreign currency exchange rate fluctuations.
- Strained relationship between the Republic of China and the People's Republic of China.
- Potential disruptions from natural or human-induced disasters.
Investor Verification Checklist
- Verify the impact of the discontinued ASE Malaysia Camera Module operation on historical year-over-year comparisons.
- Review the 2004 Annual Report on Form 20-F (filed June 23, 2005) for a detailed discussion of risk factors.
- Monitor subsequent filings for quarterly results to assess if the May 2006 revenue trend is sustained.
- Confirm the status of pending mergers and acquisitions mentioned in the risk factors.