On Friday, Shares of Advanced Semiconductor Engineering Inc. (NYSE:ASX), gained 1.72% to $5.33.
Advanced Semiconductor Engineering stated unaudited net revenues of NT$70,222 million for the second quarter of 2015 (2Q15), up by 20% year-over-year and up by 9% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$3,652 million, down from a net income attributable to shareholders of the parent of NT$5,106 million in 2Q14 and down from a net income attributable to shareholders of the parent of NT$4,469 million in 1Q15. Basic earnings per share for the quarter were NT$0.48 (or US$0.077 per ADS), contrast to basic earnings per share of NT$0.66 for 2Q14 and NT$0.58 for 1Q15. Diluted earnings per share for the quarter were NT$0.43 (or US$0.070 per ADS), contrast to diluted earnings per share of NT$0.65 for 2Q14 and NT$0.56 for 1Q15.
2Q15 Results Highlights - Merged
- Net revenue contribution from packaging operations, testing operations, EMS operations, substrates sold to third parties and others, each represented about 41%, 9%, 49%, 1% and 0%, respectively, of total net revenues for the quarter.
- Cost of revenue was NT$58,656 million for the quarter, up by 27% year-over-year and up from NT$52,349 million in 1Q15.
- Raw material cost totaled NT$35,465 million during the quarter, representing 51% of total net revenues, contrast with NT$30,185 million and 47% of total net revenues in 1Q15.
- Labor cost totaled NT$8,656 million during the quarter, representing 12% of total net revenues, contrast with NT$8,695 million and 13% of total net revenues in 1Q15.
- Depreciation, amortization and rental expenses totaled NT$7,040 million during the quarter, up by 15% year-over-year and down by 1% sequentially.
- Gross margin reduced 2.5 percentage points to 16.5% in 2Q15 from 19.0% in 1Q15.
Advanced Semiconductor Engineering, Inc. provides semiconductor packaging and testing services in the United States, Taiwan, Asia, Europe, and internationally. It operates through Packaging, Testing, and Electronic Manufacturing Services (EMS) segments.
Finally, Magna International Inc. (NYSE:MGA), ended its last trade with -0.15% loss, and closed at $54.36.
Magna International stated financial results for the second quarter ended June 30, 2015.
THREE MONTHS ENDED JUNE 30, 2015
The company posted sales of $8.1 billion for the second quarter ended June 30, 2015, a decrease of 9% from the second quarter of 2014. The weakening of certain currencies against their U.S. dollar reporting currency, in particular the euro and Canadian dollar, had a noteworthy negative impact on their stated sales for the second quarter of 2015. Foreign currency translation reduced their sales by about $890 million, as contrast to the second quarter of 2014. Not taking into account the impact of foreign currency translation, their sales raised 1% in the second quarter of 2015, contrast to the second quarter of 2014. North American light vehicle production raised 3% to 4.6 million units and European light vehicle production raised marginally to 5.4 million units in the second quarter of 2015, contrast to the second quarter of 2014.
Not taking into account the impact of foreign currency translation, their complete vehicle assembly sales reduced 8% in the second quarter of 2015, contrast to the second quarter of 2014. Complete vehicle assembly volumes reduced 17% to about 28,500 units.
During the second quarter of 2015, income from ongoing operations before income taxes was $726 million, net income from ongoing operations was $538 million and diluted earnings per share from ongoing operations were $1.29, enhances of $22 million, $19 million and $0.11 respectively, each contrast to the second quarter of 2014.
For the second quarter of 2015, other (income) expense positively influenced income from ongoing operations before income taxes by $57 million, net income from ongoing operations attributable to Magna International Inc. by $42 million, and diluted earnings per share from ongoing operations by $0.10, respectively.
Magna International Inc. develops, manufactures, engineers, supplies, and sells automotive products. It operates through North America, Europe, Asia, and Rest of World segments.
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