VIA Announces 4Q’02 and 1Q’03 Results

Taipei, Taiwan, 30 April 2003 – VIA Technologies, Inc, a leading innovator and developer of silicon chip technologies and PC platform solutions, today announced financial results for fourth quarter 2002 and first quarter 2003.

Net sales for 4Q’02 and 1Q’03 were NT$6,643 million and NT$5,702 million respectively. Net income for the two quarters were negative NT$704 million and negative NT$646 million respectively; based on the current 1,176.02 million shares outstanding, earnings per share were reported as negative NT$0.59 and negative NT$0.55 for 4Q02 and 1Q03 respectively.

The results were in line with expectations; the net losses were due in part to continued pressure on gross margins, inventory write-offs, investment losses, and legal expenses.

For the whole year 2002, net sales totaled NT$25,122 million and net income for the year totaled NT$443 million; based on 1,176.02 million shares outstanding, earnings per share for the year were reported at NT$0.38.

Table 1: Quarterly Income Statements

    4Q02   4Q01
(in NT$1,000)   Amount %   Amount %
Net Revenue   6,642,501 100.0%   7,810,745 100.0%
Cost of Goods Sold   (4,923,057) -74.1%   (4,684,328) -60.0%
 Gross Profit   1,719,444 25.9%   3,126,417 40.0%
Operating Expenses   (1,407,227) -21.2%   (1,500,293) -19.2%
 Operating Profit   312,217 4.7%   1,626,124 20.8%
Non-Operating Income   123,840 1.9%   250,691 3.2%
Non-Operating Expenses   (1,212,217) -18.2%   (695,780) -8.9%
 Income Before Tax   (776,160) -3.1%   1,181,035 4.7%
Income Tax Credit (Expense)   72,343 0.3%   11,477 0.0%
Net Income   (703,817) -10.6%   1,192,512 15.3%
EPS (1,176.02M shares, treasuryshares included)   -$0.59     $1.01  

    1Q03   1Q02
(in NT$1,000)   Amount %   Amount %
Net Revenue   5,702,357 100.0%   7,300,776 100.0%
Cost of Goods Sold   (4,426,608) -77.6%   (4,371,087) -59.9%
 Gross Profit   1,275,749 22.4%   2,929,689 40.1%
Operating Expenses   (1,523,233) -26.7%   (1,432,237) -19.6%
 Operating Profit   (247,484) -4.3%   1,497,452 20.5%
Non-Operating Income   154,720 2.7%   330,603 4.5%
Non-Operating Expenses   (614,539) -10.8%   (737,130) -10.1%
 Income Before Tax   (707,303) -12.4%   1,090,925 14.9%
Income Tax Credit (Expense)   61,741 1.1%   (17,116) -0.2%
Net Income   (645,562) -11.3%   1,073,809 14.7%
EPS (1,176.02M shares, treasuryshares included)   -$0.55     $0.91  

Table 2: Annual Income Statements

    2002 Full Year   2001 Full Year
(in NT$1,000)   Amount %   Amount %
Net Revenue   25,121,884 100.0%   33,848,032 100.0%
Cost of Goods Sold   (17,134,912) -68.2%   (21,249,719) -62.8%
 Gross Profit   7,986,972 31.8%   12,598,313 37.2%
Operating Expenses   (5,099,551) -20.3%   (5,023,878) -14.8%
 Operating Profit   2,887,421 11.5%   7,574,435 22.4%
Non-Operating Income   762,299 3.0%   764,273 2.3%
Non-Operating Expenses   (3,278,799) -13.1%   (2,822,130) -8.3%
 Income Before Tax   370,921 1.5%   5,516,578 16.3%
Income Tax Credit (Expense)   72,343 0.3%   (192,033) -0.6%
Net Income   443,264 1.8%   5,324,545 15.7%
EPS (1,176.02M shares, treasuryshares included)   $0.38     $4.53  

Table 3: Balance Sheets

(in NT$1,000)   Dec. 31, 2002   Mar. 31, 2003
    Amount %   Amount %
Cash & ST Investment   9,943,064 27.4%   9,590,356 28.1%
Receivables   4,572,536 12.6%   3,936,222 11.5%
Inventory   3,567,697 9.8%   2,727,898 8.0%
Other Current Assets   1,125,443 3.1%   939,741 2.7%
 Total Current Assets   19,208,740 52.9%   17,194,217 50.3%
LT Investment   12,989,183 35.8%   12,798,286 37.4%
Fixed & Other Assets   4,092,855 11.3%   4,192,670 12.3%
 Total Assets   36,290,778 100.0%   34,185,173 100.0%
Current Liabilities   6,820,466 18.8%   5,297,720 15.5%
LT Debt   4,859,288 13.4%   4,916,917 14.4%
Other Liabilities   251,767 0.7%   236,557 0.7%
 Total Liabilities   11,931,521 32.9%   10,451,194 30.6%
 Total Shareholders’ Equity   24,359,257 67.1%   23,733,979 69.4%

VIA PR Contacts

International:
Richard Brown
Phone: (886)-2-2218-5452 #6201
Fax: (886-2)-2218-5453
Email: Richard_Brown@via.com.tw

Note to reporters, editors and writers: VIA is spelled in ALL CAPS.

All product or service names mentioned herein are the trademarks of their respective owners.

VIA Technologies, Inc.