ASTSF Ase Test Ltd (MM)

TAIPEI, Taiwan, March 26 /Xinhua-PRNewswire-FirstCall/ -- ASE Test Limited (NASDAQ:ASTSF)(TSE:9101) today announced its diluted earnings under accounting principles generally accepted in the Republic of China ("ROC GAAP") and generally accepted accounting principles in the United States of America ("U.S. GAAP") for the fourth quarter and full year ended December 31, 2007. The audited consolidated financial statements of ASE Test Limited and its subsidiaries for the fiscal years ended December 31, 2005, 2006 and 2007 will be included in the Scheme Document as an exhibit to the Amendment No. 3 to the Schedule 13E-3 to be filed jointly by ASE Test Limited and Advanced Semiconductor Engineering, Inc. on March 26, 2008. About ASE Test Limited ASE Test Limited is one of the world's largest independent providers of semiconductor testing services. ASE Test Limited provides customers with a complete range of semiconductor testing services, including front-end engineering testing, wafer probing, final production testing of packaged semiconductors and other test-related services. ASE Test Limited has been quoted on Nasdaq since 1996 under the symbol "ASTSF". ASE Test Limited Consolidated Statements of Income (US$ thousands, except per share data) For the three For the year months ended ended Dec. 31, 2007 Dec. 31, 2007 (Unaudited) (Audited) ROC GAAP: Net revenues 134,659 475,089 Cost of revenues 75,630 305,966 Gross profit 59,029 169,123 Operating expenses: Selling, general and administrative 11,571 49,936 Research and development 5,116 19,262 Income from operations 42,342 99,925 Non-operating income (expense): Interest income 800 3,342 Interest expense (1,172) (5,627) Equity in earnings of equity method investees 5,520 17,224 Gain on valuation of financial assets, net 639 1,690 Loss on valuation of financial liabilities, net (365) (2,424) Foreign exchange loss, net (933) (318) Other, net 935 12,194 Income before income tax 47,766 126,006 Income tax expense 12,722 37,531 Net income (ROC GAAP) 35,044 88,475 Net income (U.S. GAAP) 29,863 75,271 Earnings per share: Basic (ROC GAAP) 0.35 0.88 Diluted (ROC GAAP) 0.34 0.86 Diluted (U.S. GAAP) 0.29 0.73 Shares used in earnings per share calculation: Basic (in thousands) 101,263 100,679 Diluted (ROC GAAP) (in thousands) 103,971 102,974 Diluted (U.S. GAAP) (in thousands) 103,744 102,908 ASE Test Limited Consolidated Balance Sheet (US$ thousands) (Audited) Dec. 31, 2007 Cash 143,308 Financial assets at fair value through profit or loss 46 Available-for-sale financial assets - current 149,840 Notes and accounts receivable, net 77,839 Receivables from related parties 22,458 Inventories, net 10,809 Deferred income tax assets, net 15,947 Prepayments and other 9,608 Total current assets 429,855 Long-term investments 301,345 Property, plant and equipment, net 366,752 Goodwill 20,646 Other 21,311 Total assets 1,139,909 Short-term borrowings 370 Financial liabilities at fair value through profit or loss 116 Notes and accounts payable 14,617 Payable to related parties 6,179 Payable for property, plant and equipment 15,103 Current portion of long-term debts 19,639 Deferred income tax liabilities, net 3,745 Other current liabilities 39,849 Total current liabilities 99,618 Long-term debts 68,709 Deferred income tax liabilities 4,272 Other liabilities 10,828 Total liabilities 183,427 Shareholders' equity 956,482 Total liabilities and shareholders' equity 1,139,909 Media contact: Ken Hsiang, Chief Financial Officer Tel: +1-510-687-2475 Email: DATASOURCE: ASE Test Limited CONTACT: Ken Hsiang, CFO of ASE Test, +1-510-687-2475, or Web site: http://www.asetest.com/

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