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UMC Reports First Quarter 2012 Results

TAIPEI, Taiwan April 25, 2012

First Quarter 2012 Overview (Note 1):

  • NT$23.77 billion US$805.60 million
  • Gross margin: 19.1%; operating margin: 5.6%
  • Capacity utilization: 71%
  • NT$1.34 billion US$45.27 million
  • NT$0.11 $0.019

Note 1: Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with ROC GAAP, which differ in some material respects from generally accepted accounting principles in the United States.  They are un-audited, unconsolidated, and represent comparisons among the three-month period ending Mar 31, 2012, the three-month period ending Dec 31, 2011, and the equivalent three-month period that ended Mar 31, 2011. For all 1Q12 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the Mar 31, 2012 exchange rate of NT$29.50 per U.S. Dollar.

United Microelectronics Corporation

NT$23.77 billion NT$24.43 billion NT$28.12 billion NT$1.34 billion NT$0.11

Shih-Wei Sun

Dr. Sun continued, "UMC is progressing smoothly on our advanced 28nm process technology.  We have successfully delivered 28nm flagship product samples to mobile communication and computing customers, with additional product tape-outs during last quarter.  We remain on track to enter volume production for UMC 28nm process in the second half of 2012.  Meanwhile, to effectively utilize existing 65nm and 90nm capacity, we are developing numerous specialty technologies to deliver more diversified and comprehensive customer foundry solutions for the future."

NT$0.5

Summary of Operating Results

Operating Results

(Amount: NT$ million)

1Q12

4Q11


1Q11


Revenue

23,765

24,425

(2.7)

28,118

(15.5)

Gross Profit

4,550

4,550

0.0

7,742

(41.2)

Operating Expenses

(3,226)

(3,710)

(13.0)

(3,300)

(2.2)

Operating Income

1,324

840

57.6

4,442

(70.2)

Non-Operating Income

169

149

13.4

432

(60.9)

Net Income

1,335

980

36.2

4,483

(70.2)

EPS  (NT$ per share)

0.11

0.08

0.36

         (US$ per ADS)

0.019

0.014

0.061

NT$23.77 billion NT$24.43 billion NT$28.12 billion NT$4.55 billion NT$4.55 billion NT$1.32 billion NT$0.84 billion NT$1.34 billion NT$0.98 billion

NT$0.11   US$0.019 March 31, 2012 March 14, 2012

Note 2:

One ADS represents five Taiwan-listed ordinary shares.

Detailed Financials Section

NT$3.23 billion

COGS & Expenses

(Amount: NT$ million)

1Q12

4Q11


1Q11


Revenue

23,765

24,425

(2.7)

28,118

(15.5)

COGS

(19,215)

(19,875)

(3.3)

(20,376)

(5.7)

  Depreciation

(6,794)

(6,800)

(0.1)

(5,840)

16.3

  Other Mfg. Costs

(12,421)

(13,075)

(5.0)

(14,536)

(14.6)

Gross Profit

4,550

4,550

0.0

7,742

(41.2)

Gross Margin (%)

19.1%

18.6%

27.5%

Total Operating Exp.

(3,226)

(3,710)

(13.0)

(3,300)

(2.2)

  G&A

(552)

(601)

(8.2)

(668)

(17.4)

  Sales & Marketing

(509)

(822)

(38.1)

(452)

12.6

  R&D

(2,165)

(2,287)

(5.3)

(2,180)

(0.7)

Operating Income

1,324

840

57.6

4,442

(70.2)

NT$169 million NT$362 million NT$194 million NT$86 million NT$82 million

Non-Operating Income (Expenses)

(Amount: NT$ million)

1Q12

4Q11

1Q11

Net Non-Operating Income

169

149

432

Net Interest Income (Loss)

(5)

(7)

26

Net Investment Income (Loss)

(176)

(1,485)

(420)

Gain (Loss) on Disposal of Investment

362

2

16

Exchange Gain (Loss)

(24)

45

149

Other Gain (Loss)

12

1,594

661

NT$9.50 billion NT$161 million NT$9.66 billion NT$919 million NT$772 million

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