Hon Hai Prec.Ind.Co HHPD 3rd Quarter Results

  Hon Hai Prec.Ind.Co (HHPD) - 3rd Quarter Results

RNS Number : 9930Q
Hon Hai Precision Industry Co Ld
13 November 2012




     HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES

                  CONSOLIDATED BALANCE SHEETS
                                                                 
           September 30, 2012 AND September 30, 2011

        (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
Accounting Title                       2012/9/30              2011/9/30
                                      Amount        %        Amount        %
Assets
Current Assets
Cash and cash            565,131,191.00  29.3   358,157,218.00 20.33
equivalents
Financial assets
measured at fair value
                                        51,402.00     0       239,029.00  0.01
 through profit or loss
- current
Available-for-sale           751,071.00  0.04       829,086.00  0.05
financial assets - current
Accounts receivable -    429,904,973.00 22.29   360,435,256.00 20.46
net
Accounts receivable -     22,194,321.00  1.15    19,226,590.00  1.09
related parties - net
Other receivables         38,988,108.00  2.02    34,321,092.00  1.95
Other financial assets     3,882,662.00   0.2   136,984,489.00  7.77
- current
Inventories              394,431,997.00 20.45   402,067,061.00 22.82
Other prepayments          5,970,573.00  0.31     8,849,109.00   0.5
Other current assets       6,469,387.00  0.34     5,520,597.00  0.31
Current assets       1,467,775,685.00 76.09 1,326,629,527.00 75.29
Funds and Investments
Financial assets
measured at fair value                200,000.00  0.01                0     0
 through profit or loss
- non current
Available-for-sale
financial assets - non               9,358,050.00  0.49     4,900,893.00  0.28
current
Financial assets           3,465,995.00  0.18     3,888,199.00  0.22
carried at cost - non current
Equity investments      39,387,644.00  2.04    36,917,191.00   2.1
under equity method
Prepayments for             49,869.00     0       124,174.00  0.01
long-term investments
Investments               39,437,513.00  2.04    37,041,365.00   2.1
Other financial assets        23,100.00     0     1,042,444.00  0.06
- non current
Funds and long-term     52,484,658.00  2.72    46,872,901.00  2.66
investments
Fixed Assets
Cost
Land                       4,194,950.00  0.22     4,195,857.00  0.24
Buildings and            157,443,974.00  8.16   147,011,749.00  8.34
structures
Machinery and            259,753,238.00 13.47   241,876,087.00 13.73
equipment
Molding equipment          2,998,201.00  0.16     5,003,974.00  0.28
Testing equipment         24,868,347.00  1.29    27,686,403.00  1.57
Office equipment          15,483,998.00   0.8    16,020,610.00  0.91
Maintenance equipment      3,379,007.00  0.18     3,219,693.00  0.18
and tools
Other facilities          44,209,848.00  2.29    40,667,323.00  2.31
Fixed assets cost        512,331,563.00 26.56   485,681,696.00 27.56
Accumulated             -186,498,469.00 -9.67  -174,903,775.00 -9.93
depreciation
Accumulated impairment    -5,347,809.00 -0.28    -4,591,168.00 -0.26
- fixed assets
Construction in
process and prepayment for          45,874,371.00  2.38    41,133,499.00  2.33
 equipments
Fixed assets           366,359,656.00 18.99   347,320,252.00 19.71
Intangible Assets
Goodwill                     508,421.00  0.03       215,474.00  0.01
Intangible assets          508,421.00  0.03       215,474.00  0.01
OtherAssets
Deferred charges          17,085,329.00  0.89    14,792,657.00  0.84
Other assets - other      24,738,234.00  1.28    26,215,607.00  1.49
Other assets            41,823,563.00  2.17    41,008,264.00  2.33
Assets               1,928,951,983.00   100 1,762,046,418.00   100
Liabilities and
Stockholders' Equity
Liabilities
Current Liabilities
Short-term borrowings    370,599,719.00 19.21   366,050,677.00 20.77
Short-term notes and       7,989,206.00  0.41     4,995,036.00  0.28
bills payable
Financial liabilities
measured at fair value                 43,100.00     0       261,267.00  0.01
 through profit or
loss - current
Accounts payable         510,197,105.00 26.45   495,467,168.00 28.12
Accounts payable -        48,592,357.00  2.52    27,940,132.00  1.59
related parties
Income tax payable        12,851,691.00  0.67    13,723,484.00  0.78
Accrued expenses         107,973,933.00   5.6    72,027,664.00  4.09
Other payables            49,153,351.00  2.55    24,595,283.00   1.4
Advance receipts          23,242,407.00   1.2     5,336,838.00   0.3
Long-term liabilities     18,459,000.00  0.96    20,219,400.00  1.15
- current portion
Other current             15,244,101.00  0.79    20,430,801.00  1.16
liabilities
Current liabilities  1,164,345,970.00 60.36 1,051,047,750.00 59.65
Long term Liabilities
Bonds payable             84,929,910.00   4.4    62,400,513.00  3.54
Long-term borrowings      33,077,367.00  1.71    61,844,523.00  3.51
Long-term              118,007,277.00  6.12   124,245,036.00  7.05
liabilities
Reserves
Other Liabilities
Pension reserve /          1,098,760.00  0.06     1,070,408.00  0.06
accrued pension liability
Deferred income tax          925,740.00  0.05     2,507,089.00  0.14
liabilities
Other liabilities -        4,286,727.00  0.22     3,739,075.00  0.21
other
Other liabilities        6,311,227.00  0.33     7,316,572.00  0.42
Liabilities          1,288,664,474.00 66.81 1,182,609,358.00 67.12
Stockholders' Equity
Capital
Common stock             118,358,665.00  6.14   106,890,967.00  6.07
Capital Surplus
Capital surplus -         58,302,661.00  3.02    52,011,511.00  2.95
additional paid-in capital
Capital surplus -
long-term equity                    14,866,527.00  0.77    14,982,057.00  0.85
 investments
Capital surplus -          2,034,440.00  0.11     3,229,640.00  0.18
stock option
Capital surplus         75,203,628.00   3.9    70,223,208.00  3.99
Retained Earnings
Legal reserve             59,980,502.00  3.11    51,821,402.00  2.94
Unappropriated           348,408,180.00 18.06   290,470,580.00 16.48
retained earnings
Retained earnings      408,388,682.00 21.17   342,291,982.00 19.43
 Stockholders' Equity
and Other adjustmen
Cumulative translation     1,368,665.00  0.07    20,925,620.00  1.19
adjustments
Unrealized gains
(losses) on financial             2,133,497.00  0.11     2,728,088.00  0.15
 instruments
Treasure stock               -18,901.00     0       -18,901.00     0
Equity adjustments       3,483,261.00  0.18    23,634,807.00  1.34
Minority interest         34,853,273.00  1.81    36,396,096.00  2.07
Stockholders' equity     640,287,509.00 33.19   579,437,060.00 32.88
Number of treasury
stock acquired by the                1,302,812.00  0.07     1,184,375.00  0.07
 company and
subsidiaries (unit: share)
                                      0     0                0     0











     HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES

               CONSOLIDATED STATEMENTS OF INCOME

           September 30, 2012 AND September 30, 2011            

         (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS,

                EXCEPT EARNINGS PER SHARE DATA)
        Accounting Title               2012/9/30              2011/9/30
                                 Amount           %     Amount           %
Sales                  2,767,645,025.00   100 2,378,489,617.00   100
Sales                  2,767,645,025.00   100 2,378,489,617.00   100
Operating income       2,767,645,025.00   100 2,378,489,617.00   100
Cost of sales          2,546,980,284.00 92.03 2,207,584,936.00 92.81
Operating costs        2,546,980,284.00 92.03 2,207,584,936.00 92.81
Gross profit (loss)      220,664,741.00  7.97   170,904,681.00  7.19
from operations
Selling expense           70,360,223.00  2.54    43,683,301.00  1.84
General and               51,528,723.00  1.86    50,633,988.00  2.13
administrative expenses
Research and              32,066,886.00  1.16    29,117,820.00  1.22
development expenses
Operating expenses       153,955,832.00  5.56   123,435,109.00  5.19
Operating income          66,708,909.00  2.41    47,469,572.00     2
(loss)
Non-Operating Income
Interest income            9,903,538.00  0.36     4,547,467.00  0.19
Inome from long-term
equity investments under the         1,248,862.00  0.05     1,827,779.00  0.08
equity method
Investment income          1,248,862.00  0.05     1,827,779.00  0.08
Gains on disposal of          35,451.00     0       221,866.00  0.01
fixed assets
Gains on sale of           1,277,607.00  0.05       363,659.00  0.02
investments
Foreign exchange gains                0     0     7,665,670.00  0.32
Revaluation gain on          193,623.00  0.01        34,925.00     0
financial assets
Revaluation gain on            6,559.00     0        75,547.00     0
financial liabilities
Miscellaneous income       4,239,201.00  0.15     3,581,243.00  0.15
Non-operating revenues    16,904,841.00  0.61    18,318,156.00  0.77
and gains
Non-Operating Expenses
Interest expense           7,110,282.00  0.26     4,058,949.00  0.17
Foreign exchange           2,948,611.00  0.11                0     0
losses
Financial expense            147,374.00  0.01       297,182.00  0.01
Impairment loss on         1,790,341.00  0.06                0     0
assets
Miscellaneous                652,949.00  0.02       441,154.00  0.02
disbursements
Non-operating expenses    12,649,557.00  0.46     4,797,285.00   0.2
and losses
Income from continuing    70,964,193.00  2.56    60,990,443.00  2.56
operations before income tax
Income tax expense        15,627,659.00  0.56    14,505,217.00  0.61
(benefit)
Income from continuing    55,336,534.00     2    46,485,226.00  1.95
operations
Consolidated net
income attributable to parent       57,789,619.00  2.09    46,561,176.00  1.96
company
Minority interest         -2,453,085.00 -0.09       -75,950.00     0
income
Consolidated net          55,336,534.00     2    46,485,226.00  1.95
income
Primary Earnings per
Share
Income (loss) from                 4.69     0             3.95     0
continuing operations
Primary earnings per               0.21     0             0.01     0
share of minority interest
Primary earnings per                4.9     0             3.96     0
share
Diluted earnings per
share
Income (loss) from                  4.6     0             3.85     0
continuing operations
Diluted earnings per                0.2     0             0.01     0
share of minority interest
Diluted earnings per                4.8     0             3.86     0
share













     HON HAI PRECISION IND. CO., LTD.

   CONSOLIDATED STATEMENTS OF CASH FLOWS

September 30, 2012 AND September 30, 2011

   (In Thousands of New Taiwan Dollars)

2012 2011


==========================

Cash Flows from Operating Activities - Indirect
Method

  Consolidated Net Income (Loss)
$55,336,534$46,485,226

  Adjustments to Reconcile Net Income to Net

Cash Provided by (Used in) Operating
Activities

   Depreciation Expense42,176,630
34,845,253

   Amortization Expense
8,976,2533,036,548

   Provision (Reversal of Provision)

for Bad Debt Expense 706,758 (1,183,157)

   Amortization of Bonds Issue Cost
499,650476,280

   Loss (Gain) on Decline (Recovery) in Market

Value, Scrap and Obsolescence of Inventories(242,337) 4,591,029

   Investment Loss (Income) Recognized under

Equity Method (1,248,862)(1,827,779)

   Cash Dividends Received from Investments

Accounted for under Equity Method 629,643563,399

   Loss (Gain) on Disposal of Property,

Plan and Equipment(35,451)(221,866)

   Loss (Gain) on Disposal of Investments
(1,277,607)(363,659)

   Unrealized Revaluation Loss (Gain) on

Financial Assets and Liabilities17,290 35,263

   Impairment Losses on Financial Asset
00

   Impairment Loss on Non-Financial
Assets1,790,3410

  Changes in Operating Assets and
Liabilities

    Decrease (Increase) in Financial Assets

Held for Trading(1,180) 1,975

    Decrease (Increase) in Notes Receivable(30,499)
6,611,029

    Decrease (Increase) in Accounts Receivable 20,176,752
25,127,622

    Decrease (Increase) in Accounts Receivable -

Related Parties 3,097,490 (398,090)

    Decrease (Increase) in Other Receivables
(2,997,396)(3,427,807)

    Decrease (Increase) in
Inventories(13,302,912)(147,274,375)

    Decrease (Increase) in Other Prepayments1,149,346
(3,728,013)

    Decrease (Increase) in Deferred Tax Assets1,547,032
(1,486,354)

    Increase (Decrease) in Accounts
Payable(9,527,997)91,850,070

    Increase (Decrease) in Accounts Payable -

Related Parties 19,823,1804,403,920

    Increase (Decrease) in Income Tax
Payable(7,087,812)(902,520)

    Increase (Decrease) in Accrued Expenses 26,525,600
18,483,985

    Increase (Decrease) in Other
Payables(743,726)(878,117)

    Increase (Decrease) in Receipts in Advance17,657,626
(1,471,690)

    Increase (Decrease) in Other Current Liabilities(9,353,540)
5,503,180

    Increase (Decrease) in Deferred Tax Liabilities
(868,007)(346,910)

    Increase (Decrease) in Accrued Pension Liabilities
34,460(20,604)

Net Cash Provided by (Used in) Operating Activities153,427,259
78,483,838

Cash Flows from Investing
Activities

  Acquisition of Financial Assets as Fair

Value through Profit or
Loss(405,917)(112,185)

  Acquisition of Available-for-sale Financial
Assets(7,719,647) 0

  Proceeds from Disposal of Available-for-sale

Financial
Assets4,690,874464,710

  Acquisition of Financial Assets Carried at
Cost(730,620)(805,402)

  Proceeds from Disposal of Financial Assets

Carried at
Cost981,6810

  Acquisition of Long-term Investments under Equity Method
(914,768)(689,995)

  Proceeds from Disposal of Long-term Investments under

Equity
Method2,104,8780

  Purchase of Property, Plant and Equipment(41,657,836)
(73,359,747)

  Proceeds from Disposal of Property, Plant and
Equipment3,381,3521,384,214

  Decrease (Increase) in Other Financial Assets
41,642,002(79,707,813)

  Decrease (Increase) in Other Assets(12,226,083)
(10,580,475)

  Net Cash Provided by (Used in) Investing
Activities(10,854,084)(163,406,693)

Cash Flows from Financing
Activities

  Increase (Decrease) in Short-term
Loans110,076,970148,553,644

  Increase (Decrease) in Short-term Notes and Bills Payable
(106)(4,596,252)

  Proceeds from Issuance of Bonds 23,000,000
18,000,000

  Repayments of
Bonds(3,000,000) 0

  Proceeds from Long-term Debt6,206,100
22,272,500

  Repayments of Long-term Debt
(6,687,000)(3,783,000)

  Increase (Decrease) in Other Liabilities
(452,247)(842,052)

  Cash Dividends Paid
(16,033,645)(9,661,248)

  Employee Bonus and Remunerations Paid to Directors

and Supervisors
00

  Changes in Minority
Interest118,5621,701,988

  Net Cash Provided by (Used in) Financing Activities
113,228,634171,645,580

Effect of Exchange Rate
Changes(20,464,251)17,193,170

Net Increase (Decrease) in Cash and Cash Equivalents
235,337,558103,915,895

Cash and Cash Equivalents, Beginning of year
329,793,633254,241,323

Cash and Cash Equivalents, End of year$565,131,191
$358,157,218

Supplemental Cash Flow
Information

  Interest Paid$6,605,218
$3,234,991

  Interest Paid- Excluding Capitalized Interest$6,605,218
$3,234,991

Income Tax
Paid$20,201,934$15,562,035

Non-cash Investing and Financing
Activities

  Unrealized Valuation Gains or Losses on Financial

Instruments$1,074,726($9,040,305)

  Unrealized Gains or Losses on Financial Instruments

Recognized due to Equity Changes in Long-term Investments ($743,952)
($1,496,737)

  Employee Bonus Payable and Compensation Due to

Directors and Supervisors $5,874,552
$5,555,128

Investing Activities Affecting Both Cash and Non-cash
Items

  Cash Paid for Acquisition of Property, Plant and
Equipment

   Increase in Property, Plant and
Equipment$58,629,828$80,094,303

   Increase (Decrease) in Payable for Equipment Purchased ($16,971,992)
($6,734,556)

   Cash Paid for Acquisition of Property,

Plant and Equipment
$41,657,836$73,359,747



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


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