Siliconware Precision Industries (ADR)(NASDAQ:SPIL) Reports 5.7% Q-o-Q Decline In Revenues

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Siliconware Precision Industries (ADR)(NASDAQ:SPIL) announced financial results, and the biggest highlight was a sharp decline of 5.7% in company’s revenues on a Q-o-Q basis. As per the reports, the consolidated sales revenues for 3Q2015 were NT$ 20,030 million, down 5.7% from 2Q2015 and down 7.5% from 3Q2014.

Other Financial & Operating Highlights

The net income of the company for the quarter was NT$ 2,682 million as compared to NT$ 3,677 million in 2Q2015 and NT$ 3,260 million in 3Q2014. Diluted earnings per share were NT$ 0.86. The IC packaging covered the highest percentage of overall revenues. Reports claim that the total IC packaging revenues for the quarter were NT$ 17,744, 89% of the net revenues reported by the company during the quarter. Additionally Siliconware Precision Industries (ADR)(NASDAQ:SPIL) reported net revenues of NT$ 2,286 million from testing operations, which represented only 11% of the total net revenues.

The cost of goods sold during the quarter was as much as NT$ 15,090 million, down 2.4% compared to 2Q2015 and down 6.3% from 3Q2014. The raw material cost in 3Q2015 was NT$ 6,150 million, which was about 30.7% of net revenues reported by Siliconware. Gross profit for the quarter was NT$ 4,940 million, whereas the gross margin was 24.7%, down from 27.2% in 2Q2015 and 25.6% in 3Q2014.

In terms of operating expenses, Siliconware Precision Industries (ADR)(NASDAQ:SPIL) reported NT$ 2,011 million for the third quarter. This figure comprised of selling expenses worth NT$ 244 million, R&D related expenses worth NT$ 966 million and administrative expenses worth NT$ 801 million. Operating expenses were 10.1% of total net revenues for 3Q2015. At the same time, operating income for the quarter was NT$ 2,929 million. Operating margin for 3Q2015 was 14.6% as compared to 16.9% in 2Q2015. Siliconware’s operating margin in 3Q2014 was 16.7 percent.

The senior management team of the company is delighted with the financial results and hopes that these numbers will continue to grow in the upcoming quarters.

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