VIA Announces 4Q’03 and 1Q’04 Results

Taipei, Taiwan, 30 April 2004 – VIA Technologies, Inc, a leading innovator and developer of silicon chip technologies and PC platform solutions, today announced financial results for fourth quarter 2003 and first quarter 2004.

Net sales for 4Q’03 and 1Q’04 were NT$5,044 million and NT$4,409 million respectively. Net income for the two quarters was NT$66 million and NT$51 million respectively; based on the current 1,270.447 million shares outstanding, earnings per share were reported as NT$0.05 and NT$0.04 for 4Q’03 and 1Q’04 respectively.

For the whole year 2003, net sales totaled NT$20,256 million and net loss for the year was NT$1,650 million; based on 1,270.447 million shares outstanding, earnings per share for the year were reported at negative NT$1.30.

Table 1: Quarterly Income Statements

    4Q03   4Q02
(in NT$1,000, except EPS)   Amount %   Amount %
Net Revenue   5,044,466 100.0%   6,642,501 100.0%
Cost of Goods Sold   (3,676,566) -72.9%   (4,923,057) -74.1%
   Gross Profit   1,367,900 27.1%   1,719,444 25.9%
Operating Expenses   (1,286,258) -25.5%   (1,407,227) -21.2%
   Operating Profit   81,642 1.6%   312,217 4.7%
Non-Operating Income   456,764 9.1%   123,840 1.9%
Non-Operating Expenses   (474,444) -9.4%   (1,212,217) -18.2%
   Income Before Tax   63,963 1.3%   (776,160) -11.7%
Income Tax Credit (Expense)   1,640 0.0%   55,092 0.8%
Net Income   65,603 1.3%   (721,068) -10.9%
EPS (1,270,447K shares)   $0.05     -$0.57  

    1Q04   1Q03
(in NT$1,000, except EPS)   Amount %   Amount %
Net Revenue   4,408,874 100.0%   5,702,357 100.0%
Cost of Goods Sold   (3,001,165) -68.1%   (4,426,608) -77.6%
   Gross Profit   1,407,709 31.9%   1,275,749 22.4%
Operating Expenses   (1,192,499) -27.0%   (1,523,233) -26.7%
   Operating Profit   215,210 4.9%   (247,484) -4.3%
Non-Operating Income   264,861 6.0%   154,720 2.7%
Non-Operating Expenses   (430,751) -9.8%   (614,539) -10.8%
   Income Before Tax   49,320 1.1%   (707,303) -12.4%
Income Tax Credit (Expense)   1,898 0.0%   61,741 1.1%
Net Income   51,218 1.2%   (645,562) -11.3%
EPS (1,270,447K shares)   $0.04     -$0.51  

Table 2: Annual Income Statements

    2003 Full Year   2002 Full Year
(in NT$1,000, except EPS)   Amount %   Amount %
Net Revenue   20,255,963 100.0%   25,121,884 100.0%
Cost of Goods Sold   (14,812,680) -73.1%   (17,134,912) -68.2%
   Gross Profit   5,443,283 26.9%   7,986,972 31.8%
Operating Expenses   (5,198,620) -25.7%   (5,099,551) -20.3%
   Operating Profit   244,663 1.2%   2,887,421 11.5%
Non-Operating Income   823,171 4.1%   762,299 3.0%
Non-Operating Expenses   (2,749,228) -13.6%   (3,278,799) -13.1%
   Income Before Tax   (1,681,393) -8.3%   370,921 1.5%
Income Tax Credit (Expense)   31,286 0.2%   72,343 0.3%
Net Income   (1,650,107) -8.1%   443,264 1.8%
EPS (1,270,447K shares)   -$1.30     $0.35  

Table 3: Balance Sheets

(in NT$1,000)   Mar. 31, 2004   Dec. 31, 2003
    Amount %   Amount %
Cash & ST Investment   4,834,594 15.9%   5,768,884 19.5%
Receivables   3,243,250 10.7%   3,349,472 11.3%
Inventory   4,135,023 13.6%   3,404,591 11.5%
Other Current Assets   2,272,354 7.5%   1,073,523 3.6%
   Total Current Assets   14,485,221 47.7%   13,596,470 45.9%
LT Investment   12,074,132 39.8%   12,161,908 41.0%
Fixed & Other Assets   3,786,992 12.5%   3,882,565 13.1%
   Total Assets   30,346,346 100.0%   29,640,942 100.0%
Current Liabilities   8,752,851 28.8%   7,776,669 26.2%
LT Debt   0 0%   0 0%
Other Liabilities   196,659 0.6%   198,788 0.7%
   Total Liabilities   8,949,510 29.5%   7,975,457 26.9%
   Total Shareholders’ Equity   21,396,836 70.5%   21,665,486 73.1%

 

VIA PR Contacts

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

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VIA Technologies, Inc.