Business Context and Reporting Period
Advanced Semiconductor Engineering, Inc. (ASE), a foreign private issuer, filed this Form 6-K on January 7, 2004, to announce unaudited financial results for December 2003 and the fourth quarter of 2003. The company operates primarily in semiconductor packaging and testing, with significant operations in Kaohsiung, Taiwan, and majority-owned subsidiaries in China, Korea, and the Philippines.
Key Financial Metrics
Consolidated Net Revenues:
- December 2003: NT$6,377 million (Record high).
- Q4 2003: NT$18,477 million.
Kaohsiung Packaging Operations Net Revenues:
- December 2003: NT$3,436 million (Record high).
- Q4 2003: NT$10,041 million.
Profit, Cash Flow, Margins, Debt, and Liquidity: The filing text does not provide clear values for net income, operating margins, cash flow, debt levels, or liquidity ratios. The report focuses exclusively on revenue figures.
Material Changes Versus Prior Periods
Consolidated Results:
- December 2003 vs. November 2003: Sequential increase of 2.05%.
- December 2003 vs. December 2002: Year-over-year increase of 53.23%.
- Q4 2003 vs. Q3 2003: Sequential increase of 27.21%.
- Q4 2003 vs. Q4 2002: Year-over-year increase of 43.75%.
Kaohsiung Operations Results:
- December 2003 vs. November 2003: Sequential increase of 1.07%.
- December 2003 vs. December 2002: Year-over-year increase of 46.82%.
- Q4 2003 vs. Q3 2003: Sequential increase of 25.71%.
- Q4 2003 vs. Q4 2002: Year-over-year increase of 39.89%.
Outlook, Risks, and Management Commentary
Management highlighted that both consolidated and Kaohsiung-specific revenues for December 2003 represented new record highs for the respective entities. The filing does not contain specific forward-looking guidance, risk factors, contingencies, or commentary on unusual items beyond the revenue announcements.
Investor Verification Checklist
- Verify the unaudited nature of the reported revenue figures.
- Confirm the composition of consolidated revenues, specifically the contribution of subsidiaries (ASE Test Limited, ASE Chung Li, ASE Korea, ASE Philippines, and ASE Material).
- Review subsequent filings for profit margins and cash flow data, as these were not included in this press release.
- Assess the sustainability of the 53.23% year-over-year growth rate in the context of the broader semiconductor market cycle.