United Microelectronics Q3 Profit Declines - Quick Facts

(RTTNews) - United Microelectronics Corp. (UMC) said that its net income attributable to stockholders of the parent for the third quarter declined to NT$2.92 billion or $96 million from NT$3.48 billion in the same quarter last year.

Earnings per share for the quarter was NT$0.23, down from NT$0.28 last year. Earnings per ADS were $0.038, compared to $0.046 last year.

However, net operating revenues for the quarter grew 5 percent to NT$35.21 billion or $1.16 billion, from last year's NT$33.41 billion.

Looking ahead, United Microelectronics affirmed its outlook for fiscal 2014 capital expenditure of $1.3 billion. The company noted that spending during the first nine months of 2014 in the foundry segment was $885 million.

Po-Wen Yen, CEO of UMC, said, "Our 28nm yield progress for poly-SiON & gate-last, High-K Metal Gate products has continued to improve, which will drive significant production ramp during the fourth quarter. This progress will help attract multiple waves of new customers and products to strengthen UMC's 28nm growth and further diversify our customer base in advanced nodes."