COGS & Expenses
QoQ% YoY%
(Amount: NT$ million) 3Q08 2Q08 change 3Q07 change
Revenue 24,748 25,238 (1.9) 31,028 (20.2)
CoGS (20, 380) (19, 443) 4.8 (22,805) (10.6)
Depreciation (8,086) (7,510) 7.7 (8,445) (4.3)
Other
Mfg. Costs (12 ,294) (11,933) 3.0 (14,360) (14.4)
Gross Profit 4,368 5,795 (24.6) 8,223 (46.9)
Gross Margin (%) 17.6% 23.0% -- 26.5% --
Total
Operating Exp. (3,421) (3,454) (1.0) (3,988) (14.2)
G&A (639) (744) (14.1) (753) (15.1)
Sales & Marketing (673) (620) 8.6 (922) (27.0)
R&D (2,109) (2,090) 0.9 2,313 (8.8)
Operating Income 947 2,341 (59.5) 4,235 (77.6)
Operating Margin(%) 3.8% 9.3% -- 13.6% --
Net non-operating losses during 3Q08 were NT$2.11 billion. Net investment losses were NT$2.86 billion, which included an other-than-temporary impairment loss of NT$3.22 billion and a NT$1.24 billion loss from valuation of ProMos shares, partially offset by NT$1.67 billion of cash dividend. Gains on the disposal of investments were NT$611 million, including a gain from the sale of MediaTek shares for NT$594 million. Net foreign exchange gains were NT$41 million, which include NT$735 million from foreign exchange gains and NT$694 million from hedging losses.
Non-operating Income (Expenses)
(Amount: NT$ million) 3Q08 2Q08 3Q07
Net Non-operating
Income (Exp.) (2,105) 120 5,764
Net Interest Income (Expense) 108 160 249
Net Investment Income (Loss) (2,860) (575) 1,676
Gain on Disposal of Investment 611 524 3,437
Exchange Gain(Loss) 735 36 63
Others (699) (25) 339
Net cash outflow was NT$224 million in 3Q08. Cash inflow from operations was NT$13.79 billion in 3Q08. The investing cash outflow primarily reflects the NT$1.78 billion of CAPEX in 3Q08. Free cash flow (Note 2) for 3Q08 was NT$12.01 billion. The NT$12.23 billion of financing cash outflow is mainly for the cash dividend distribution of NT$9.38 billion and the 12th treasury buyback amounted to NT$2.09 billion.
Cash Flow Summary
For the For the
3-Month 3-Month
(Amount: NT$ million) Period Period
Ended Ended
Sept. 30, Jun. 30,
2008 2008
Cash Flow from Operating 13,792 8,799
Net Income (Loss) (1,413) 2,397
Depreciation
& Amortization 9,224 9,404
Changes in
working capital 865 (3,403)
Others 5,116 401
Cash Flow from Investing (2,143) (2,489)
Capital Expenditures (1,778) (2,488)
Others (365) (1)
Cash Flow from Financing (12,225) (10,503)
Redemption of bonds -- (10,500)
Cash Dividend (9,383) --
Purchase of
treasury stock (2,087) --
Others (755) (3)
Effect of
Exchange Rate 352 (24)
Net Cash Flow (224) (4,217)
Note 2: Free cash flow = Operating cash flow - Capital expenditures
