Operating revenues in 4Q19 increased 10.9% to NT$41.85 billion, including NT$41.83 billion from the foundry segment. Revenue contribution from 40nm and below technologies declined to 32%. Gross profit increased 8.3% quarterly to NT$6.97 billion, or 16.7% of revenue. Operating expenses increased 20.2% to NT$6.17 billion. Net other operating income remained flat at NT$1.22 billion, leading to an operating income of NT$2.02 billion. Net non-operating income was NT$946 million. Net income attributable to stockholders of the parent was NT$3.84 billion.

Earnings per ordinary share for the quarter was NT$0.33. Earnings per ADS was US$0.055. The basic weighted average number of outstanding shares in 4Q19 was 11,708,869,140, compared with 11,708,239,978 shares in 3Q19 and 12,111,826,935 shares in 4Q18. The diluted weighted average number of outstanding shares was 13,073,000,039 in 4Q19, compared with 13,049,025,428 shares in 3Q19 and 12,111,826,935 shares in 4Q18. The fully diluted share count on December 31, 2019 was approximately 13,089,079,000.

Detailed Financials Section

COGS & Expenses
(Amount: NT$ million)	4Q19	3Q19	QoQ % change	4Q18	YoY % change
Operating Revenues	41,849	37,738	10.9	35,517	17.8
COGS	(34,881)	(31,305)	11.4	(30,916)	12.8
Depreciation	(11,069)	(10,707)	3.4	(10,228)	8.2
Other Mfg. Costs	(23,812)	(20,598)	15.6	(20,688)	15.1
Gross Profit	6,968	6,433	8.3	4,601	51.4
Gross Margin (%)	16.7%	17.1%		13.0%
Operating Expenses	(6,165)	(5,131)	20.2	(6,396)	(3.6)
G&A	(1,603)	(1,344)	19.2	(1,339)	19.7
Sales & Marketing	(996)	(970)	2.8	(903)	10.4
R&D	(3,453)	(2,813)	22.7	(3,745)	(7.8)
Expected Credit Losses	(113)	(4)	2,903.5	(409)	(72.5)
Net Other Operating Income & Expenses	1,215	1,207	0.6	1,206	0.7
Operating Income (Loss)	2,018	2,509	(19.6)	(589)	-

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