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United Microelectronics' CEO Discusses Q4 2011 Results - Earnings Call Transcript

United Microelectronics Corporation ( UMC)

Q4 2011 Earnings Call

February 8, 2012 8:00 am ET

Executives

Bowen Huang - Head of IR

Shih-Wei Sun - CEO

Chitung Liu - CFO

Analysts

Randy Abrams - Credit Suisse

Dan Heyler - Bank of America Merrill Lynch

Steven Pelayo - HSBC

Szeho Ng - BNP

Pon Lu Lu - Goldman Sachs

Satya Kumar - Credit Suisse

Presentation

Operator

Welcome everyone to UMC's 2011 Q4 earnings conference call. (Operator Instructions) I would now like to introduce Mr. Bowen Huang, Head of Investor Relations at UMC. Mr. Huang, you may begin.

Bowen Huang

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

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

I'd now like to introduce UMC's CFO, Mr. Chitung Liu, to explain UMC's Q4 2011 and full year 2011 business results.

Chitung Liu

Thank you, Bowen. For the fourth quarter of 2011, revenue was NT$24.43 billion, a 10.5% quarter-over-quarter decrease from NT$25.19 billion in third quarter 2011 and 22% year-over-year decrease from NT$31.32 billion in 4Q, 2010. Gross margin was 18.6%, operating margin was 6.4%, net income was NT$1.18 billion and earnings per ordinary share were NT$0.09.

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