Skip Ribbon Commands
Skip to main content


Date: 2009/07/30

​​- Net revenues increased 17% over Q1 2009 to NT$ 5,772 million (US$175.4million)
- Operating income increased 50% over Q1 2009 to NT$ 1,158 million (US$35.2 million)

Hsinchu, Taiwan, R.O.C. – Macronix International Co., Ltd. (TSEC: 2337) today announced the unaudited financial results for the second quarter ended June 30, 2009. All numbers were prepared in compliance with the R.O.C. GAAP on an unconsolidated basis.

Summary of the Second Quarter 2009:
Total net revenues increased 17% sequentially and increased 11% over second quarter 2008 to NT$5,772 million (US$175.4 million).
Gross profit was NT$2,305 million (US$ 70.0 million) with 40% gross margin.
Operating income increased 39% from NT$833 million in the second quarter 2008 to NT$1,158 million (US$35.2 million).
Income before tax was NT$1,040 million (US$31.6 million); Net income was NT$980 million (US$ 29.8 million).
EPS was NT$0.31; book value per share was NT$11.66.
Capacity utilization rate was 99%

Second-Quarter 2009 Financial Highlights:
Revenue was NT$5,772 million and gross profit NT$2,305 million
Net income increased to NT$980million with EPS NT$0.31

The Company announced the second quarter net revenues of NT$5,772 million (US$175.4million), a 17% increase sequentially and increase of 11% year- over-year. The sequential revenue increase was a result of more NOR flash delivery.

Gross Profit and Gross Margins
Gross margin for the second quarter 2009 was 40%, better than 36% in the first quarter 2009 and the same as 40% in the second quarter of 2008. Gross profit was NT$2,305 million (US$ 70.0 million), an increase of 12% year-over-year, and increase of 30% sequentially.

Operating Expenses and Operating Income
Operating expenses for the second quarter were NT$1,147 million (US$34.9 million), a decrease of 6% year-over-year and an increase 14% sequentially. Operating income for the second quarter was NT$1,158 million (US$35.2 million), compared to NT$772 million in the first quarter of 2009 and NT$833 million in the second quarter of 2008.

Non-operating Income and Expenses
Net non-operating loss was NT$118 million (US$3.6million) for the quarter, consisting of net interest income of NT$31 million (US$0.9 million), recognized investment loss of NT$91 million (US$2.8 million), loss on disposal of assets of NT$10 million (US$0.3million), and net foreign exchange loss of NT$48 million (US$1.5 million).

Net Income and EPS
Net income before tax was NT$1,040 million (US$31.6 million), compared to NT$666 million in the first quarter of 2009 and NT$900 million in the second quarter of 2008. For the second quarter of 2009, the estimated tax provision was NT$60 million (US$1.8 million) and the net income after tax was NT$980 million (US$29.8 million). EPS was NT$0.31 (US$0.009), compared to NT$0.20 in the first quarter of 2009 and NT$0.27 in the second quarter of 2008. The book value was NT$11.66 per share.

Balance Sheet
Macronix has strong cash position. The debt-to-asset ratio is now 0.18 which is higher than 0.12 in the first quarter of 2009, the reason is that Dividend Payable for this year is booked in current liability. As of June 30, 2009, the Company had NT$21,000 million (US$638.1 million) in cash and cash equivalents. Net inventory decreased by NT$311 million (US$9.4 million) to NT$ 4,241 million (US$128.9 million), compared to NT$4,552 million for the first quarter of 2009.

The total liability increased to NT$7,824 million (US$237.7 million), an increase of NT$2,741 million (US$83.3 million), compared to NT$5,083 million at the end of March 31, 2009. Shareholders’ equity was NT$36,692 million (US$1,114.9 million). Depreciation and amortization expenses were NT$724 million (US$22.0 million) for the quarter, a decrease of NT$32 million (US$1.0 million), compared to the first quarter of 2009. Cash flow from operations was NT$2,089 million (US$63.5 million) in the quarter. Capital expenditure for the quarter was NT$168 million (US$5.1 million) mainly for the procurement of production related equipments.

Business Highlights
ROM and Flash Counted 38% and 52% of the Net Sales Respectively
Sales in the second quarter from ROM revenue accounted for 38% of net sales, an increase of 2% year-over-year and a sequential decrease of 18%. The unit shipments of ROM decreased 13% year-over-year and decreased 3% sequentially.

Flash products accounted for 52% of net sales, an increase of 29% year-over-year and a sequential increase of 55%. The unit shipments of Flash increased 52% year-over-year and increased 66% sequentially.

Sales in FBG products accounted for 10% of net sales, a decrease of 19% year-over-year and a sequential increase of 93%.

Capacity Utilization Rate was 99%; Products of the Advanced Process Technology Kept at Higher Percentage
In second quarter of 2009, the products made by 0.15 um, 0.13 um, 0.10 um and ≦75nm of the advanced process technology collectively accounted for 85% of net sales. Capacity utilization rate increased to 99% from 47% in the previous quarter.

2009Q3 Outlook
Compared with second quarter 2009, management’s expectations for third quarter 2009 performance are as follows:
Total unit shipment will be +10% to +15 %;
ASP (blended) will be +0% to +5%;
Capacity utilization rate is expected be over 95%

Quarterly Income Statements
Unit: NT$ million (except EPS)

* For details, please refer to the audited financial reports of Q209.

Balance Sheet / Cash Position
Unit: NT$ million

Safe Harbor Statement
The statement contains certain forward-looking statements with respect to the results of operation, financial condition and current expectation. The forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from those expressed or implied by such statements.
Such risks and uncertainties include but are not limited to the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry overcapacity, availability of manufacturing capacity, financial stability in end markets, and other risks.
The forward-looking statements in this release reflect the current belief of Macronix as of the date of this release and Macronix undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date

About Macronix International Co., Ltd.
Founded in 1989, Macronix International Co., Ltd. (TSE: 2337.TT) is a leading provider of innovative Non-Volatile Memory (NVM) solutions. Macronix is the largest worldwide manufacturer of ROM products, and also provide wide range of NOR Flash products across various densities for system embedded, consumer, communication and enterprise applications.

For more information, please visit the Company’s web site at

Michelle Chang
Macronix International Co., Ltd.
Public Relations
+03 578 6688 ext. 71233
Douglas Sun
Macronix International Co., Ltd.
Finance Center / Investor Relations
+03 578 6688 ext. 76632