02.20.2001
SPIL 2000 financials on line

• Siliconware Precision Ind. Co. Ltd. (SPIL, 2325 'Xi Pin') yesterday announced financial results for 2000. Revenues came in at NT$18.8b and after-tax profits at NT$3.2b, representing YoY increases of 58.2% and 114%, respectively. Outstanding shares stood at 1.6b, making for EPS of NT$1.98.

• 4Q00 results were hit by the fall-off in global sales of computers, telecommunications products and consumer electronics, resulting in a QoQ revenue decline of 2.6%.

• SPIL forecasts a QoQ fall in revenue of 10% in 1Q01; ASP is expected to come down by 6-7%. SPIL's chairman, Bough Lin, while giving no indication of when a turnaround may come, hinted that he was confident on the completion of inventory correction in the PC segment.

• Barring a turnaround in global demand, we view a reduction in ASP as having a negative impact on margins and profitability this year.

AngelLo@Primasia.com +886-[0]2-2547-8865