Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE) filed this Form 6-K on April 10, 2007, to disclose unaudited consolidated net revenues for March 2007 and the first quarter of 2007. The company operates in the outsourced semiconductor packaging and testing industry. Starting January 1, 2007, revenues from Global Advanced Packaging Technology Limited (GAPT) were consolidated into ASE's financial results.
Key Financial Metrics
| Metric | March 2007 | Feb 2007 | Mar 2006 | Q1 2007 | Q4 2006 | Q1 2006 |
|---|---|---|---|---|---|---|
| Net Revenues (NT$ Million) | 7,431 | 6,518 | 8,743 | 21,093 | 22,574 | 24,837 |
| Sequential Change | +14.01% | - | - | -6.56% | - | - |
| Year-over-Year Change | -15.00% | - | - | -15.08% | - | - |
The filing does not provide specific values for profit, cash flow, margins, debt, or liquidity.
Material Changes
- Monthly Performance: March 2007 revenues increased 14.01% sequentially from February 2007 but declined 15.00% compared to March 2006.
- Quarterly Performance: Q1 2007 revenues decreased 6.56% sequentially from Q4 2006 and fell 15.08% year-over-year compared to Q1 2006.
- Consolidation Impact: The inclusion of GAPT revenues beginning in January 2007 affects the comparability of current period figures with prior periods.
Outlook, Risks, and Management Commentary
The filing contains a Safe Harbor Notice regarding forward-looking statements. Management highlighted several risks that could cause actual results to differ materially from expectations:
- Cyclicality and market conditions in the semiconductor industry.
- Demand for outsourced packaging and testing services.
- Highly competitive industry environment and the need to introduce new technologies.
- Integration of pending and future mergers and acquisitions.
- International business activities and general economic/political conditions.
- Strained relations between the Republic of China and the People's Republic of China.
- Fluctuations in foreign currency exchange rates.
No specific financial guidance or outlook figures were provided in this document.
Investor Verification Checklist
- Verify the impact of the GAPT consolidation on year-over-year revenue comparisons.
- Review the 2005 Annual Report on Form 20-F for detailed risk factors and historical financial data.
- Monitor subsequent filings for profit margins, cash flow, and debt levels, which are absent in this monthly revenue report.
- Assess the semiconductor industry cycle and demand trends affecting Q1 2007 performance.