Operating revenues in 1Q20 increased 1.0% to NT$42.27 billion, including NT$42.27 billion from the foundry segment. Revenue contribution from 40nm and below technologies increased to 34%. Gross profit increased 16.6% quarterly to NT$8.12 billion, or 19.2% of revenue. Operating expenses declined 7.2% to NT$5.72 billion. Net other operating income declined 16.5% to NT$1.01 billion, leading to an operating income of NT$3.41 billion. Net non-operating expenses was NT$2.59 billion, including NT$1.97 billion in net investment loss. Net income attributable to stockholders of the parent was NT$2.21 billion.

Earnings per ordinary share for the quarter was NT$0.19. Earnings per ADS was US$0.031. The basic weighted average number of outstanding shares in 1Q20 was 11,782,936,260, compared with 11,708,869,140 shares in 4Q19 and 11,908,706,645 shares in 1Q19. The diluted weighted average number of outstanding shares was 13,087,825,472 in 1Q20, compared with 13,073,000,039 shares in 4Q19 and 13,238,181,278 shares in 1Q19. The fully diluted share count on March 31, 2020 was approximately 13,103,904,000.

Detailed Financials Section

COGS & Expenses
(Amount: NT$ million)	1Q20		4Q19		QoQ % change		1Q19		YoY % change
Operating Revenues	42,268		41,849		1.0		32,583		29.7
COGS	(34,146	)	(34,881	)	(2.1	)	(30,321	)	12.6
Depreciation	(11,124	)	(11,069	)	0.5		(10,497	)	6.0
Other Mfg. Costs	(23,022	)	(23,812	)	(3.3	)	(19,824	)	16.1
Gross Profit	8,122		6,968		16.6		2,262		259.1
Gross Margin (%)	19.2	%	16.7	%			6.9	%
Operating Expenses	(5,722	)	(6,165	)	(7.2	)	(4,932	)	16.0
G&A	(1,543	)	(1,603	)	(3.7	)	(1,236	)	24.8
Sales & Marketing	(1,040	)	(996	)	4.3		(889	)	17.0
R&D	(3,185	)	(3,453	)	(7.8	)	(2,807	)	13.5
Expected Credit Impairment Gain (Loss)	46		(113	)	-		-		100.0
Net Other Operating Income & Expenses	1,014		1,215		(16.5	)	1,073		(5.5	)
Operating Income (Loss)	3,414		2,018		69.2		(1,597	)	-

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