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News Release
VIA Announces 4Q’04 and 1Q’05 Results
Taipei, Taiwan, 29 April 2005 -
VIA Technologies, Inc, a leading innovator
and developer of silicon chip technologies
and PC platform solutions, today announced
financial results for fourth quarter
2004 and first quarter 2005.
Net sales for 4Q’04 and 1Q’05 were
NT$ 4,964 million and NT$ 3,899 million
respectively, while net income was
negative NT$ 3,308 million in 4Q’04
rising to NT$ 63 million in 1Q’05.
Based on the quarter weighted average
shares outstanding of 1,296.95 million
and 1,278.22 million, earnings per
share were reported as negative NT$2.55
for 4Q’04 and NT$0.05 for 1Q’05.
For the whole year 2004, net sales
totaled NT$ 19,449 million and net
income for the year was negative NT$
4,981 million; based on 1,296.95 million
weighted average shares outstanding,
earnings per share for the year was
reported at negative NT$3.84.
The decision by the VIA Board of
Directors on the early implementation
of SFAS No.35 in 4Q’04 required that
NT$1,210 million of the asset impairment
deficit was posted as equity-based
long-term investment loss; this was
in addition to the NT$461 million
posted as permanent devaluation of
cost-based long-term investment.
Table 1: Quarterly Income
Statements
|
|
|
4Q04 |
|
4Q03 |
|
(in
NTD millions, except
EPS) |
|
Amount |
% |
|
Amount |
% |
|
Net
Revenue |
|
4,964
|
100.0% |
|
5,045
|
100.0% |
|
Cost
of Goods Sold |
|
(3,782) |
-76.2% |
|
(3,677) |
-72.9% |
|
Gross
Profit |
|
1,182
|
23.8% |
|
1,368
|
27.1% |
|
Operating
Expenses |
|
(1,152) |
-23.2% |
|
(1,286) |
-25.5% |
|
Operating
Profit |
|
30
|
0.6% |
|
82
|
1.6% |
|
Non-Operating
Income |
|
88
|
1.8% |
|
456
|
9.0% |
|
Non-Operating
Expenses |
|
(3,288) |
-66.2% |
|
(475) |
-9.4% |
|
Income
Before Tax |
|
(3,170) |
-63.8% |
|
63
|
1.2% |
|
Income
Tax Credit (Expense) |
|
(138) |
-2.8% |
|
1
|
0.0% |
|
Net
Income |
|
(3,308) |
-66.6% |
|
64
|
1.2% |
|
EPS
(1,296.95M shares) |
|
-$2.55 |
|
|
$0.05 |
|
|
|
|
1Q05 |
|
1Q04 |
|
(in
NTD millions, except EPS) |
|
Amount |
% |
|
Amount |
% |
|
Net
Revenue |
|
3,899
|
100.0% |
|
4,409
|
100.0% |
|
Cost
of Goods Sold |
|
(3,062) |
-78.5% |
|
(3,001) |
-68.1% |
|
Gross
Profit |
|
837
|
21.5% |
|
1,408
|
31.9% |
|
Operating
Expenses |
|
(1,075) |
-27.6% |
|
(1,193) |
-27.0% |
|
Operating
Profit |
|
(238) |
-6.1% |
|
215
|
4.9% |
|
Non-Operating
Income |
|
768
|
19.7% |
|
265
|
6.0% |
|
Non-Operating
Expenses |
|
(467) |
-12.0% |
|
(431) |
-9.8% |
|
Income
Before Tax |
|
63
|
1.6% |
|
49
|
1.1% |
|
Income
Tax Credit (Expense) |
|
0
|
0.0% |
|
2
|
0.0% |
|
Net
Income |
|
63
|
1.6% |
|
51
|
1.2% |
|
EPS
(1,278.22M shares) |
|
$0.05 |
|
|
$0.04 |
|
Table 2: Annual Income Statements
|
|
|
2004
Full Year |
|
2003
Full Year |
|
(in
NTD millions, except
EPS) |
|
Amount |
% |
|
Amount |
% |
|
Net
Revenue |
|
19,449
|
100.0% |
|
20,256
|
100.0% |
|
Cost
of Goods Sold |
|
(14,061) |
-72.3% |
|
(14,813) |
-73.1% |
|
Gross
Profit |
|
5,388
|
27.7% |
|
5,443
|
26.9% |
|
Operating
Expenses |
|
(4,820) |
-24.8% |
|
(5,198) |
-25.7% |
|
Operating
Profit |
|
568
|
2.9% |
|
245
|
1.2% |
|
Non-Operating
Income |
|
880
|
4.5% |
|
823
|
4.1% |
|
Non-Operating
Expenses |
|
(6,351) |
-32.7% |
|
(2,749) |
-13.6% |
|
Income
Before Tax |
|
(4,903) |
-25.2% |
|
(1,681) |
-8.3% |
|
Income
Tax Credit (Expense) |
|
(78) |
-0.4% |
|
31
|
0.2% |
|
Net
Income |
|
(4,981) |
-25.6% |
|
(1,650) |
-8.1% |
|
EPS
(1,296.95M shares) |
|
($3.84) |
|
|
($1.26) |
|
Table 3: Balance Sheets
|
(in
NTD millions) |
|
Dec.
31, 2004 |
|
Mar.
31, 2005 |
|
|
|
Amount |
% |
|
Amount |
% |
|
Cash
& ST Investment |
|
6,845 |
28.0% |
|
6,293 |
28.0% |
|
Receivables |
|
2,334 |
9.5% |
|
2,082 |
9.3% |
|
Inventory |
|
4,145 |
16.9% |
|
3,567 |
15.9% |
|
Other
Current Assets |
|
627 |
2.6% |
|
634 |
2.7% |
|
Total
Current Assets |
|
13,951 |
57.0% |
|
12,576 |
55.9% |
|
LT
Investment |
|
6,857 |
28.0% |
|
6,420 |
28.5% |
|
Fixed
& Other Assets |
|
3,680 |
15.0% |
|
3,502 |
15.6% |
|
Total
Assets |
|
24,488 |
100.0% |
|
22,498 |
100.0% |
|
Current
Liabilities |
|
6,529 |
26.7% |
|
4,659 |
20.7% |
|
LT
Debt |
|
2,294 |
9.4% |
|
2,238 |
9.9% |
|
Other
Liabilities |
|
256 |
1.0% |
|
276 |
1.3% |
|
Total
Liabilities |
|
9,079 |
37.1% |
|
7,173 |
31.9% |
|
Total
Shareholders' Equity |
|
15,409 |
62.9% |
|
15,325 |
68.1% |
Note to reporters, editors and
writers: VIA is written in ALL CAPS.
All product or service names
mentioned herein are the trademarks
of their respective owners. |
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