United Microelectronics Corporation Announces Revised Financial Forecast for Year 2000
TAIPEI, Taiwan, R.O.C.--(BUSINESS WIRE)--Oct. 30, 2000--United Microelectronics Corporation (TAIEX: 2303, NYSE:UMC), (UMC) today revised its financial forecast for year 2000.
The net sales forecast for fiscal year 2000, has been revised from the previous estimation of NT$88,029 million to NT$105,507 million, a 20% increase. Net income estimation for year 2000 has been revised to NT$50,029 million, up from NT$30,036 million in the previous estimation. Earnings per share has been revised to NT$4.50 from the previous estimation of NT$2.67, based on weighted-average number of shares outstanding.
UMC is publishing this financial forecast revision for year 2000 in accordance to the rules and regulations laid out by the Republic of China Securities and Futures Exchange as described in ``Guidelines for Publishing of Financial Forecasts of Public Companies.''
The reasons for this revision are due to the continual prosperity experienced by the foundry industry, and UMC's increase of 0.18um and below productions. In addition, the combination of optimized product mix and favorable exchange rate also benefited the average selling price of wafers sold.
The audited year 2000 forecast numbers are listed in the following table:
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(Expressed in New Taiwan Thousand Dollars)
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Item Original Forecast Update Difference / %
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Revenue 88,028,920 105,506,683 17,477,763 20%
Gross Profit 35,912,578 53,151,264 17,238,686 48%
Operating Income 26,233,537 43,160,170 16,926,633 65%
Income Before Tax 30,138,007 49,794,626 19,656,619 65%
Net Income 30,036,472 50,028,972 19,992,500 67%
Earnings per share 2.67 4.50
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