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Chunghwa's CEO Discusses Q1 2011 Results - Earnings Call Transcript

In addition to the increased fixed line revenue resulting from the shift in the pricing right of a fixed-to-mobile call from mobile operators to fixed Line operator, mobile VAS and handset sales were remaining as our key revenue drivers.

During the first quarter of 2011 we enjoyed persistent growth in our traditional telecom service business and continued to win additional ICT contracts. During the quarter we also continued to offer customers configured cloud computing services and to consolidate and repackage solutions.

Moving on to number -- slide number three, we remain committed to our shareholders, as you can see from this slide, which shows our cash return over the last several years. The NT$5.5243 cash dividend per share for 2010 operations results were approved by the board meeting in March and are subject to the final approval in the Annual General Shareholders Meeting scheduled for June 24 this year.

Total dividend payment is expected to be NT$42.9 billion. I would like to restate our commitment to maintaining our stable dividend payout policy.

Now, I will hand over to Dr. Yeh for our financial results.

Yeh Shu

Thank you, Chairman Lu, and good day, everyone. Thanks for joining us today. I will review our financial results in detail beginning with slide number five. Slide number five shows our income statement on a consolidated basis and provides a comparison on a year-over-year basis.

Our total revenue for the first quarter 2011 was NT$52.5 billion, a 5.8% increase, compared to 2010, primarily due to an increase of fixed line revenue resulting from the shift in the pricing right of a fixed-to-mobile call from mobile operators to fixed network operators.

Additionally, mobile VAS and the handset sales were areas of growth. Operating costs and expenses grew 10.9% to NT$38.5 billion, resulting a 6.1% decrease of income from operations to NT$13.9 billion.

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