Vanguard International Semiconductor Corp · TPEX:5347
Vanguard International Semiconductor — Q4 2003 Earnings Presentation
19 slides from Vanguard International Semiconductor's earnings presentation, Feb 16, 2004
Slide 1: 2003 Fourth Quarter Results Investor Conference
VANGUARD INTERNATIONAL SEMICONDUCTOR CORPORATION 2003 Fourth Quarter Results Investor Conference February 16 2004
Slide 2: Agenda
Agenda n Welcome n 4Q 2003 Financial Results - Robert Hsieh n Remarks - Paul Chien n Q&A
Slide 3: Disclaimer
Disclaimer This Investor Conference Presentation contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.
Slide 4: 4Q03 Result Highlights
4Q03 Result Highlights Amount: NT$Million 4Q03 3Q03 4Q02 Amount Amount Amount Net Sales 3,293 2,710 1,901 Net Income 350 441 (1,009) EPS(NT$) 0.13 0.16 (0.46) Cash and Equivalent + S-T Invest. 5,801 5,378 5,376 Interest-bearing Debt 5,600 7,806 10,188 Shareholders' Equity 14,522 14,119 11,984 Wafer
Slide 5: 4Q03 Income Statement YoY Comparison
4Q03 Income Statement YoY Comparison Amount: NT$Million 4Q03 4Q02 YOY Amount % Amount % % Net Sales 3,293 100% 1,901 100% 73% COGS (2,831) 86% (3,073) -162% -8% Gross Profit (Loss) 462 14% (1,172) -62% - Operating Expense (267) -8% (190) -10% 41% Operating Income (Loss) 195 6% (1,362) -72% - Net Non
Slide 6: 4Q03 Income Statement QoQ Comparison
4Q03 Income Statement QoQ Comparison Amount: NT$Million 4Q03 3Q03 QoQ Amount % Amount % % Net Sales 3,293 100% 2,710 100% 22% COGS (2,831) 86% (2,788) -103% 2% Gross Profit (Loss) 462 14% (77) -3% - Operating Expense (267) -8% (266) -10% -1% Operating Income (Loss) 195 6% (343) -13% - Net Non-operat
Slide 7: 4Q03 Balance Sheet & Key Ratios
4Q03 Balance Sheet & Key Ratios Amount: NT$Million 4Q03 3Q03 4Q02 Balance Sheet Amount % Amount % Amount % Cash & ST Investments 5,801 25.5% 5,378 22.3% 5,376 20.3% Accounts Receivable 1,876 8.2% 1,566 6.5% 1,090 4.1% Inventories 1,861 8.2% 1,837 7.6% 1,769 6.7% LT Debt 3,681 16.2% 4,427 18.4% 6,723
Slide 8: 4Q03 Cash Flow
4Q03 Cash Flow Amount: NT$Million 4Q03 3Q03 4Q02 Cash Flow Amount Amount Amount From Operation 1,278 839 342 -Net Profit (Loss) 350 441 (1,009) -Depreciation & Amort. 791 868 1,219 From Investment (173) 616 566 - Decrease (Increase) in S-T Invest. 188 (408) 730 - Acquisitions of Properties (324) (18
Slide 9: 2003 Income Statement
2003 Income Statement Amount: NT$Million 1Q03 2Q03 3Q03 4Q03 2003 Amount % Amount % Amount % Amount % Amount % Net Sales 2,244 100% 2,658 100% 2,710 100% 3,293 100% 10,905 100% COGS (3,214) -143% (2,717) -102% (2,788) -103% (2,831) -86% (11,550) -106% Gross Profit (Loss) (969) -43% (60) -2% (77) -3%
Slide 10: 2003 Income Statement Yearly Comparison
2003 Income Statement Yearly Comparison Amount: NT$Million 2003 2002 YOY Amount % Amount % % Net Sales 10,905 100% 8,308 100% 31% COGS (11,550) -106% (11,635) -140% -1% Gross Profit (Loss) (645) -6% (3,327) -40% -81% Operating Expense (1,012) -9% (887) -11% 14% Operating Income (Loss) (1,657) -15% (
Slide 11: Utilization Trend
Utilization Trend Output, Kpcs Utilization, % 100% 92% DRAM Logic Utilization Rate 140 90% 77% 120 74% 80% 69% 65% 64% 70% 100 61% 60% 82.5 80 54.4 45% 55 50% 30.8 30.8 39.7 34 60 40% 22.3 30% 40 56.6 20% 54.1 51.5 48.2 45.8 43.8 20 42.9 42.9 10% 0 0% 1Q'02 2Q'02 3Q'02 4Q'02 1Q'03 2Q'03 3Q'03 4Q'03
Slide 12: Wafer Output Breakdown by DRAM/Logic
Wafer Output Breakdown by DRAM/Logic 100% 36% 41% 75% 51% 55% 65% Logic 50% DRAM 64% 59% 25% 49% 45% 35% 0% 4Q'02 1Q'03 2Q'03 3Q'03 4Q'03 Output 85 82 101 106 126 (Kpcs)
Slide 13: Sales Breakdown by Technology
Sales Breakdown by Technology 100% 80% 41% 39% 53% 49% 55% 0.18um 60% 1% 7% 0.25um 3% 31% 40% 15% 0.35um 26% 35% 26% 0.5um 20% 33% 27% 19% 22% 19% 0% 4Q'02 1Q'03 2Q'03 3Q'03 4Q'03 Sales 1,901 2,244 2,658 2,710 3,293 (NT$ Million)
Slide 14: Sales Breakdown by Application
Sales Breakdown by Application - Logic Foundry 100% 2% 5% 4% 6% 7% 8% 3% 11% 4% 2% 22% 80% 27% 23% 30% Others 39% Automotive 60% Computer 49% 37% 44% 36% 40% Comm. 33% Consumer 20% 25% 23% 24% 20% 18% 0% 4Q'02 1Q'03 2Q'03 3Q'03 4Q'03
Slide 15: 2003 Sales Breakdown by Application
2003 Sales Breakdown by Application - Logic Foundry Others Automotive Communication Computer Consumer Others Automotive Consumer 3% 3% 22% 41% Communication Computer 31%
Slide 16: Remarks
Remarks Paul Chien Chairman & President
Slide 17: 1Q04 Guidance
1Q04 Guidance • Fab utilization rate will be close to 100 percent. • Wafer output might decrease slightly over 4Q03 due to annual PM. • ASP remains flat. • Expect Revenue and Gross Margin to improve q-o-q. • CAPEX in 2004 will be about NT$ 4.2 Billion.
Slide 18: Q&A
Q&A Vanguard International Customized Specialty |C Foundry of Choice Semiconductor Corporation
Slide 19: http://www.vis.com.tw
http://www.vis.com.tw Vanguard International Customized Specialty |C Foundry of Choice Semiconductor Corporation
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