Cash and cash equivalents decreased to NT$25.19 billion during 3Q08, which was mainly due to the cash outflow for capacity expansion, cash dividend distribution, and the 12th treasury buyback program. The decrease in notes and accounts receivable primarily reflected the downward trend of the business in 3Q08. The decrease in inventory came from the decrease of work-in-process wafers.
Current Assets
(Amount: NT$ billion) 3Q08 2Q08 3Q07
Cash & Cash Equivalents 25.19 25.42 76.79
Notes & Accounts Receivable 14.12 14.79 17.20
Days Sales Outstanding 53 50 46
Inventory 11.76 12.31 10.89
Avg. Inventory Turnover 55 56 44
Total Current Assets 54.89 58.37 113.21
Total liabilities decreased to NT$25.85 billion in 3Q08. The decrease was primarily due to the NT$9.38 billion cash dividend distribution. UMC's Debt to Equity ratio was decreased to 13% at the end of 3Q08.
Liabilities
(Amount: NT$ billion) 3Q08 2Q08 3Q07
Total Current Liabilities 14.64 25.22 93.73
Accounts Payable 3.84 4.62 5.32
Short-term Credit / Bonds -- 0.46 22.92
Others 10.80 20.14 65.49
Long-term Liabilities 7.50 7.54 7.65
Total Liabilities 25.85 36.48 105.05
Debt to Equity 13% 18% 43%
Analysis of Revenue (Note 3)
The percentage of revenue from the North America region increased to 60%, mainly due to the higher wafer shipment in communication applications.
Revenue Breakdown by Region
Region 3Q08 2Q08 1Q08 4Q07 3Q07
North America 60% 50% 58% 51% 49%
Asia Pacific 32% 35% 29% 37% 40%
Europe 6% 13% 11% 10% 9%
Japan 2% 2% 2% 2% 2%
The percentage of revenue from advanced 65nm business increased to 7%,
compared to 5% in 2Q08, mainly due to the stronger demand for leading
communication and computer chips. The percentage of revenue from 90nm and
below was 38% in 3Q08.
Revenue Breakdown by Geometry
Geometry 3Q08 2Q08 1Q08 4Q07 3Q07
65nm 7% 5% 7% 3% 1%
90nm 31% 31% 30% 23% 24%
90nm < x <= 0.13um 20% 21% 21% 22% 23%
0.13um < x <= 0.18um 21% 20% 22% 27% 26%
0.18um < x <= 0.35um 16% 18% 14% 18% 20%
0.5um and above 5% 5% 6% 7% 6%
