December 2016 Monthly Earnings Release

Wisdom Marine Lines Co., Limited
December 2016 Monthly Earnings Release
USD TWD(in thousands)
Monthly Revenue 28,980,874 927,184 -3.25%
Year-to-Date Revenue 331,004,781 10,678,876 -4.60%
Monthly Operating Income 4,140,789 132,475 -35.84%
Year-to-Date Operating Income
49,444,472
1,595,178
-35.66%
Monthly Net Income before
Income Tax Expense 		2,645,756 84,645 -33.31%
Year-to-Date Net Income
before Income Tax Expense 		47,687,369 1,538,489 -32.73%
Monthly Pre-tax EPS - 0.16 -
Year-to-Date Pre-tax EPS - 2.96 -

TWD/USD 32.250 31.993 32.262
JPY/USD 117.09 116.07 108.83
Outstanding Shares 554,974,066 - -
Weighted Average of Shares Outstanding 521,252,664 - -
Month End Prior Month Prior Year
No. of Vessels 114 114 106
BDI 961 1204 478 


1.Change of Fleet:None.
2.Change in Operation: 2 vessels in dry-dock.
3.Fluctuation of Exchange Rate: Yen fluctuations resulted in non-operating 
income (loss) from the valuation of financial derivatives and outstanding 
borrowings denominated in Japanese Yen.  
4.Renewal of Contracts:None.
5.Operating Income:Operating income reduced due to charterers' early
termination of time charter contract this year. The Company recognized the
compensation for early termination as other income and the difference
between last contract and current contract caused the reduction of
operating income. As a result, other income increased and operating income
decreased.
6.Non-operating income: Net Income before Tax decreased comparing with
monthly result last year because of the weak shipping market and
the appreciation of Japanese Yen which led to foreign exchange loss.
However, foreign exchange loss is an unrealized item which does not
affect the Company's cash flow. The Company evaluates foreign exchange
gain/loss by the exchange rate at the end of each month, and the loss
will be reversed if Yen depreciates afterwards.
There was US$380,000 compensation from charterers for their early
termination of time charter recognized as other income.

Notes on Compilation:
1.We adopt IFRS.
2.Our functional currency is US Dollar. The representation of TWD figures 
are calculated based on the average exchange rate of the relevant period. 
Evaluation gain or loss is calculated based on the month end exchange rate.
3.Rate of change is calculated with USD figures.
4.Earning per share is calculated based on weighted average of outstanding 
shares.
5.Depreciation and crew wage costs are calculated on a monthly basis, but 
revenue is calculated on incurred basis by day. Hence the calendar days of 
each month could slightly affect revenue and operating profits.
6.The lubricant oil expenses is estimated monthly and adjusted according to 
inventory check on a quarterly frequency.
7.The duration of each vessel might differ according to size, condition and 
specifications. Modern new buildings now are normally depreciated on a 25 
year duration. 
8.The earning release is based on unaudited provisional account. Monthly
Net Income before Income Tax Expense reported in the earnings release
includes earnings attributable to minority interests.

Wisdom Marine Lines Co. Limited published this content on 06 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 January 2017 08:27:10 UTC.

Original documenthttp://www.wisdomlines.com.tw/wisdom/php/news_content_e.php?no=364

Public permalinkhttp://www.publicnow.com/view/CAA7B16CE2894D6308C195FFB6E943DE0EE3A44A