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United Microelectronics CEO Discusses Q2 2011 Results - Earnings Call Transcript

United Microelectronics Corporation ( UMC)

Q2 2011 Earnings Call

August 2, 2011 8:00 am ET

Executives

Richard Yu - Head of IR

Shih-Wei Sun - CEO

Chi-Tung Liu - CFO

Analysts

Randy Abrams - Credit Suisse

Dan Heyler - Merrill Lynch

Robert Lee - Jefferies

Donald Lu - Goldman Sachs

Szeho Ng - BNP

Steven Pelayo - HSBC

Presentation

Operator

Welcome everyone to UMC's 2011 Q2 earnings conference call. (Operator Instructions) For your information, this conference call is now being broadcasted live over the internet. A webcast replay will be available within an hour after the conference is finished. Please visit our website, www.umc.com, under the Investor Relations, Investor Events section.

I would like to introduce Mr. Richard Yu, Head of Investor Relations at UMC.

Richard Yu

Thank you and welcome to UMC's conference call for the second quarter of 2011. With me today is the CEO of UMC, Dr. Shih-Wei Sun; and the CFO, Mr. Chi-Tung Liu.

During this conference, we may make forward-looking statements based on management's expectations and beliefs. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including risks that may be beyond the company's control. For these risks, please refer to UMC's filings with the SEC in the U.S. and the ROC Securities authorities.

I'd now like to introduce UMC's CFO, Mr. Chi-Tung Liu to explain UMC's Q2 2011 business results.

Chi-Tung Liu

Thank you, Richard. For the second quarter of 2011, revenue was NT$28.15 billion, a 0.1% quarter-over-quarter increase from NT$28.12 billion in Q1 '11 and a 5.4% year-over-year decrease from NT$29.75 billion in 2Q 2010. Gross margin was 23.9%. Operating margin was 11.8%. Net income was NT$3.19 billion. And earnings per ordinary share were NT$0.26.

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