|
|
1997
|
|
1996
|
|
|
|
Amount |
% |
Amount |
% |
|
Sales |
$2,757,743 |
101 |
2,456,295
|
100 |
|
Less:
sales returns and allowance |
36,890
|
1 |
4,945
|
|
|
Net sales |
2,720,853
|
100 |
2,451,350
|
100 |
|
Cost of
goods sold |
2,285,660
|
84 |
2,094,883
|
85 |
|
Gross
profit |
435,193
|
16 |
356,467
|
15 |
|
Operating
expenses: |
|
|
|
|
|
Selling
expenses |
109,282
|
4 |
89,821
|
4 |
|
General
and administrative expenses |
90,386
|
3 |
82,521
|
3 |
|
Research
and development expenses |
49,128
|
2 |
48,288
|
2 |
|
248,796
|
9 |
220,630
|
9 |
|
Operating
income |
186,397
|
7 |
135,837
|
6 |
|
Other
income(expenses): |
|
|
|
|
|
Interest
income |
10,030
|
|
19,512
|
1 |
|
Interest
expense, after capitalization of interest
amounting to $553 in 1997 and $1,080 in
1996 |
(44,411) |
(2) |
(63,677) |
(3) |
|
Loss on
disposal of property, plant and equipment |
(554) |
|
(247) |
|
|
Loss on
investments, net |
(6,945) |
|
(2,028) |
|
|
Gains(loss)from
foreign currency translation, net |
83,604
|
3 |
(7,420) |
|
|
Other,
net |
(11,958) |
|
13,457
|
|
|
29,766
|
1 |
(40,403)
|
(2) |
|
Income
before income tax |
216,163
|
8 |
95,434
|
4 |
|
Less:
income tax expense(benefit)(notes 16) |
49,045
|
2 |
14,660
|
1 |
|
Net income |
167,118
|
6 |
80,774
|
3 |
|
Earnings
per share(NT dollar) |
1.50
|
|
1.01
|
|
|
Retroactively
adjusted earnings per share(NT dollar) |
|
$0.90
|
|
|
Currency:
Thousands of New Taiwan dollars |
|
1997
|
1996
|
|
|
Cash flows
from operating activities: |
|
|
|
Net income |
$167,118
|
80,774
|
|
|
Adjustments
to reconcile net income to net cash provided
by operating activities: |
|
Depreciation
and amortization |
68,004
|
59,636
|
|
|
Reversal
of unrealized short-term investment loss |
(33,082) |
(15,499) |
|
|
Loss on
disposal of investments in equity securities |
518 |
|
|
Investment
loss recorded under equity method |
40,950
|
16,990
|
|
|
Deferred
inter-company profits |
1,500
|
|
|
|
Loss on
disposal of properites and other assets |
554 |
262 |
|
|
Provision
for pension reserve |
17,622
|
18,389
|
|
|
Net changes
in current assets and current liabilities-operation-related |
(19,139) |
(50,711) |
|
|
Net cash
provided by operating activities |
242,807
|
110,359
|
|
|
Cash flows
from investing activities: |
|
|
|
Decrease(increase)
in restricted bank deposits |
(1,000) |
720 |
|
|
Decrease(increase)
in short-term investments |
19,202
|
(152,041) |
|
|
Increase
in long-term investments |
(427,537) |
(38,193) |
|
|
Additions
to property, plant and equipment |
(167,943) |
(60,013) |
|
|
Proceeds
from sale of fixed assets |
1,856
|
6,274
|
|
|
Disposal
of investment in equity securities |
4,500
|
|
|
Increase
in intangible assets and deferred charges |
(1,938) |
(758) |
|
|
Decrease(increase)
in refundable deposits |
(126) |
1,713
|
|
|
Net cash
used in investing activities |
(577,486) |
(237,798) |
|
|
Cash flows
from financing activities: |
|
|
|
Increase(decrease)
in short-term borrowings |
76,865
|
(318,645) |
|
|
Repayment
of long-term loans |
(28,240) |
(266,199) |
|
|
Bond issuance |
|
300,000
|
|
|
Directors
and supervisors' remuneration and employees'
profit sharing |
(12,800) |
(3,300) |
|
|
Stock
issuance |
560,000
|
360,000
|
|
|
Net cash
provided by financing activities |
595,825
|
71,856
|
|
|
Net increase(decrease)
in cash |
261,146
|
(55,583) |
|
|
Cash and
cash equivalents at the beginning of period |
90,097
|
145,680
|
|
|
Cash and
cash equivalents at the end of period |
351,243
|
90,097
|
|
|
Supplemental
disclosure of cash flow information: |
|
|
Interest
paid, excluding capitalized interest |
48,085
|
61,339
|
|
|
Income
tax paid |
28,097
|
6,121
|
|
|
