Q4 2008 Results Investor Conference

Q4 2008 Results
Investor Conference
February 05, 2009
Safe Harbor Statement
Except for facts in respect of historical matters and figures, the
statements in this release are "forward-looking statements“.
Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the
actual performance, financial condition or results of operations
of AAT (“the Company”) to be materially different from what
may be implied by such forward-looking statements.
The financial forecasts and forward-looking statements in this
release reflect the current belief of the Company as of the date
of this release and the Company undertakes no obligation to
update these forecasts and forward-looking statements for
events or circumstances that occur subsequent to such date.
2
Company Profile
www.aatech.com.tw
Establishment: March 1999
Capital: NT$398 mn (~US$12.6 mn)
Listing: July 2006, Taiwan OTC
Ticker: 3438.tw
Market Cap: ~NT$1.80bn (~US$5.43mn)
Employee: 120 (as of December, 2008)
Business Nature: Fabless IC design house
Product: Power Management ICs
Headquarters:
2F, No. 17, Industry E. 2nd Road, Science-Based
Industrial Park, Hsinchu 300, Taiwan.
Tel:(886)-3-563-3125
Fax:(886)-3-563-3126
Taipei Branch Office:
10F, No. 205, Sec. 3, Beishin Rd, Shindian City, Taipei County 231, Taiwan
Tel:(886)-2-8913-2268
Fax:(886)-2-8913-2269
3
AAT Product Application
4
Main Customer List
5
Partner List
Foundry:
Distributors:
6
Assembly/Testing:
Banks:
AAT Income Statement QoQ
NTD Thousand
Q4 2008(自結數)
Q3 2008(Audited)
Net sales
132,583 100.0%
281,480 100.0%
COGS
(82,845)
-62.5%
(165,352)
-58.7%
-49.9%
Gross margin
49,737
37.5%
116,128
41.3%
-57.2%
Total operating
expenses
(46,975)
-35.4%
(53,908)
-19.2%
-12.9%
2,763
2.1%
62,220
22.1%
-95.6%
Non-operating
income
14,128
10.7%
5,562
2.0%
154.0%
Non-operating
expense
4,107
3.1%
31,976
11.4%
-87.2%
20,998
15.8%
99,758
35.4%
-79.0%
2,688
2.0%
129
0.0%
23,686
17.9%
99,887
35.5%
Operating profit
EBIT
Income tax
Net earnings
EPS
7
0.63
2.58
QoQ%
-52.9%
-76.3%
-75.6%
AAT Income Statement YoY
NTD Thousand
2008 (自結數)
2007(Audited)
YoY%
Net sales
1,065,464
100.0%
1,130,763
100.0%
-5.8%
COGS
(639,841)
-60.1%
(671,315)
-59.4%
-4.7%
Gross margin
425,623
39.9%
459,448
40.6%
-7.4%
Total operating
expenses
(204,609)
-19.2%
(117,549)
-10.4%
74.1%
221,013
20.7%
341,899
30.2%
-35.4%
Non-operating
income
29,020
2.7%
14,850
1.3%
95.4%
Non-operating
expense
(3,960)
-0.4%
(9,327)
-0.8%
-
246,073
23.1%
347,422
30.7%
-29.2%
14,675
1.4%
(15,285)
-1.4%
-
260,748
24.5%
332,137
29.4%
-21.5%
Operating profit
EBIT
Income tax
Net earnings
EPS(after tax)
EPS(after
tax)8
Weighted Adj.
6.71
8.75
未扣掉員工分紅
之EPS＝7.84
8.33
-19.4%
AAT Balance Sheet QoQ & YoY
NTD Thousand
2008.12.31
2008.9.30
QoQ%
Cash and
Equivalents
875,071
817,620
7.0%
780,544
Inventories
66,245
81,127
-18.3%
95,384
1,198,173
1,318,691
-9.1%
1,277,121
Long-term Debts
79,303
142,087
-44.2%
-
Total Liabilities
198,614
343,956
-42.3%
142,678
Common Stock
398,261
398,261
0.0%
379,570
Treasury Stock
135,052
135,052
0.0%
18,289
Retained Profits
355,535
331,849
7.1%
393,710
Shareholder's
Equity
999,558
974,735
2.5%
1,134,443
26.1%
33.0%
-20.9%
27.9%
Total Assets
ROE
9
2007.12.31
Historical Monthly Revenue
Unit: 1,000 NTD
2008
2007
160,000
140,144
140,000
120,000
112,512
105,561 112,258
109,141
98,278
100,000
81,023
71,203
80,000
67,431 67,572
125,503
116,916
113,652
110,713
104,362
102,135
94,710
91,678
84,805
85,439
72,183
70,608
60,000
41,148
40,000
19,252
20,000
0
Jan.
10
Feb.
Mar.
Apr.
May
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.
Average Selling Price (ASP)
NT$16
NT$12
NT$8
NT$4
NT$0
Jan
11
Feb
Mar
Apr
2006ASP
May
Jun
2007ASP
Jul
Aug
2008ASP
Sep
Oct
Nov
Dec
Q&A
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