UMC reports Q4 EPS 17.3c, consensus 15c

Reports Q4 revenue $1.79B, consensus $1.7B. Reports Q4 capacity utilization rate 66%. Jason Wang, co-president of UMC, said, “In the fourth quarter, challenging macroeconomic conditions continued to prolong the inventory correction in the semiconductor industry as our wafer shipments decreased 2.5% QoQ while overall fab utilization rate slightly fell to 66%. As our Tainan 12A P6 facility continues to ramp, our 22/28nm represented 36% of our Q4 wafer revenue, reflecting record high in revenue as well as percentage of wafer sales.”