Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE) filed a Form 6-K on December 8, 2014, to announce unaudited consolidated net revenues for November 2014. ASE is a leading provider of outsourced semiconductor packaging, testing, and electronic manufacturing services.
Key Financial Metrics
| Metric | Nov 2014 (NT$M) | Oct 2014 (NT$M) | Nov 2013 (NT$M) | Seq. Change | YoY Change |
|---|---|---|---|---|---|
| Consolidated Net Revenues | 25,250 | 26,522 | 21,974 | -4.8% | +14.9% |
| Consolidated Net Revenues (US$M) | 829 | 875 | 747 | -5.3% | +10.9% |
| ATM Net Revenues (Excl. USI) | 14,469 | 15,252 | 12,396 | -5.1% | +16.7% |
| ATM Net Revenues (US$M) | 475 | 503 | 422 | -5.6% | +12.6% |
The filing does not provide data on profit, cash flow, margins, debt, or liquidity for this period.
Material Changes
- Sequential Decline: Consolidated net revenues decreased 4.8% sequentially from October 2014 to November 2014.
- Year-Over-Year Growth: Consolidated net revenues increased 14.9% compared to November 2013.
- Segment Performance: The ATM assembly, test, and material business (excluding Universal Scientific Industrial Co., Ltd.) showed a 16.7% year-over-year increase, outpacing the consolidated growth rate.
Guidance, Outlook, and Risks
The filing contains no specific financial guidance or management commentary regarding future quarters. It includes a Safe Harbor Notice identifying forward-looking statements subject to various risks, including:
- Cyclicality and market conditions in the semiconductor industry.
- Regulatory changes and environmental liabilities.
- Competitive pressures and technology introduction capabilities.
- Geopolitical tensions between the Republic of China and the People's Republic of China.
- Foreign currency exchange rate fluctuations.
Investor Verification Checklist
- Verify the impact of the sequential revenue decline on full-year 2014 performance.
- Confirm the contribution of Universal Scientific Industrial Co., Ltd. to the consolidated revenue figures.
- Review the 2013 Annual Report on Form 20-F for detailed risk factors and historical financial context.
- Monitor foreign exchange rate impacts given the reporting in both NT$ and US$.