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News Release
VIA Announces 4Q'02 and 1Q'03 Results
Taipei, Taiwan, 30 April 2003 - VIA Technologies, Inc,
a leading innovator and developer of silicon chip technologies
and PC platform solutions, today announced financial
results for fourth quarter 2002 and first quarter 2003.
Net sales for 4Q'02 and 1Q'03 were NT$6,643 million
and NT$5,702 million respectively. Net income for the
two quarters were negative NT$704 million and negative
NT$646 million respectively; based on the current 1,176.02
million shares outstanding, earnings per share were
reported as negative NT$0.59 and negative NT$0.55 for
4Q02 and 1Q03 respectively.
The results were in line with expectations; the net
losses were due in part to continued pressure on gross
margins, inventory write-offs, investment losses, and
legal expenses.
For the whole year 2002, net sales totaled NT$25,122
million and net income for the year totaled NT$443 million;
based on 1,176.02 million shares outstanding, earnings
per share for the year were reported at NT$0.38.
Table 1: Quarterly Income Statements
| |
|
4Q02 |
|
4Q01 |
| (in
NT$1,000) |
|
Amount |
% |
|
Amount |
% |
| Net
Revenue |
|
6,642,501 |
100.0% |
|
7,810,745 |
100.0% |
| Cost
of Goods Sold |
|
(4,923,057) |
-74.1% |
|
(4,684,328) |
-60.0% |
| Gross Profit |
|
1,719,444 |
25.9% |
|
3,126,417 |
40.0% |
| Operating
Expenses |
|
(1,407,227) |
-21.2% |
|
(1,500,293) |
-19.2% |
| Operating Profit |
|
312,217 |
4.7% |
|
1,626,124 |
20.8% |
| Non-Operating
Income |
|
123,840 |
1.9% |
|
250,691 |
3.2% |
| Non-Operating
Expenses |
|
(1,212,217) |
-18.2% |
|
(695,780) |
-8.9% |
| Income Before Tax |
|
(776,160) |
-3.1% |
|
1,181,035 |
4.7% |
| Income
Tax Credit (Expense) |
|
72,343 |
0.3% |
|
11,477 |
0.0% |
| Net
Income |
|
(703,817) |
-10.6% |
|
1,192,512 |
15.3% |
| EPS
(1,176.02M shares,
treasury shares included) |
|
-$0.59 |
|
|
$1.01 |
|
| |
|
1Q03 |
|
1Q02 |
| (in
NT$1,000) |
|
Amount |
% |
|
Amount |
% |
| Net
Revenue |
|
5,702,357 |
100.0% |
|
7,300,776 |
100.0% |
| Cost
of Goods Sold |
|
(4,426,608) |
-77.6% |
|
(4,371,087) |
-59.9% |
| Gross Profit |
|
1,275,749 |
22.4% |
|
2,929,689 |
40.1% |
| Operating
Expenses |
|
(1,523,233) |
-26.7% |
|
(1,432,237) |
-19.6% |
| Operating Profit |
|
(247,484) |
-4.3% |
|
1,497,452 |
20.5% |
| Non-Operating
Income |
|
154,720 |
2.7% |
|
330,603 |
4.5% |
| Non-Operating
Expenses |
|
(614,539) |
-10.8% |
|
(737,130) |
-10.1% |
| Income Before Tax |
|
(707,303) |
-12.4% |
|
1,090,925 |
14.9% |
| Income
Tax Credit (Expense) |
|
61,741 |
1.1% |
|
(17,116) |
-0.2% |
| Net
Income |
|
(645,562) |
-11.3% |
|
1,073,809 |
14.7% |
| EPS
(1,176.02M shares,
treasury
shares
included) |
|
-$0.55 |
|
|
$0.91 |
|
Table 2: Annual Income Statements
| |
|
2002 Full Year |
|
2001 Full Year |
| (in
NT$1,000) |
|
Amount |
% |
|
Amount |
% |
| Net
Revenue |
|
25,121,884 |
100.0% |
|
33,848,032 |
100.0% |
| Cost
of Goods Sold |
|
(17,134,912) |
-68.2% |
|
(21,249,719) |
-62.8% |
| Gross Profit |
|
7,986,972 |
31.8% |
|
12,598,313 |
37.2% |
| Operating
Expenses |
|
(5,099,551) |
-20.3% |
|
(5,023,878) |
-14.8% |
| Operating Profit |
|
2,887,421 |
11.5% |
|
7,574,435 |
22.4% |
| Non-Operating
Income |
|
762,299 |
3.0% |
|
764,273 |
2.3% |
| Non-Operating
Expenses |
|
(3,278,799) |
-13.1% |
|
(2,822,130) |
-8.3% |
| Income Before Tax |
|
370,921 |
1.5% |
|
5,516,578 |
16.3% |
| Income
Tax Credit (Expense) |
|
72,343 |
0.3% |
|
(192,033) |
-0.6% |
| Net
Income |
|
443,264 |
1.8% |
|
5,324,545 |
15.7% |
| EPS
(1,176.02M shares,
treasury shares included) |
|
$0.38 |
|
|
$4.53 |
|
Table 3: Balance Sheets
| (in
NT$1,000) |
|
Dec.
31, 2002 |
|
Mar.
31, 2003 |
| |
|
Amount |
% |
|
Amount |
% |
| Cash
& ST Investment |
|
9,943,064 |
27.4% |
|
9,590,356 |
28.1% |
| Receivables |
|
4,572,536 |
12.6% |
|
3,936,222 |
11.5% |
| Inventory |
|
3,567,697 |
9.8% |
|
2,727,898 |
8.0% |
| Other
Current Assets |
|
1,125,443 |
3.1% |
|
939,741 |
2.7% |
| Total Current Assets |
|
19,208,740 |
52.9% |
|
17,194,217 |
50.3% |
| LT
Investment |
|
12,989,183 |
35.8% |
|
12,798,286 |
37.4% |
| Fixed
& Other Assets |
|
4,092,855 |
11.3% |
|
4,192,670 |
12.3% |
| Total Assets |
|
36,290,778 |
100.0% |
|
34,185,173 |
100.0% |
| Current
Liabilities |
|
6,820,466 |
18.8% |
|
5,297,720 |
15.5% |
| LT
Debt |
|
4,859,288 |
13.4% |
|
4,916,917 |
14.4% |
| Other
Liabilities |
|
251,767 |
0.7% |
|
236,557 |
0.7% |
| Total Liabilities |
|
11,931,521 |
32.9% |
|
10,451,194 |
30.6% |
| Total Shareholders' Equity |
|
24,359,257 |
67.1% |
|
23,733,979 |
69.4% |
|
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VIA PR Contacts
Note to reporters, editors and writers: VIA is
spelled in ALL CAPS.
All product or service names mentioned herein are
the trademarks of their respective owners.
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