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92 United Microelectronics Corporation Annual Report 2004
b. Pro forma information on earnings as if subsidiaries’ investment in the Company is not treated as treasury stock is set out as
follows:
Shares expressed in thousands
2004 Basic Diluted
Net income $31,843,381 $31,873,101
Weighted average of shares outstanding:
Beginning balance 15,941,901 15,941,901
Stock dividends and employees’ bonus at 8.7% in 2004 1,385,341 1,385,341
Purchase of 192,067 thousand shares of treasury stock in 2004 (132,214) (132,214)
Issuance of 357,143 thousand shares of stocks from merger with SiSMC 195,150 195,150
Exercise of 44,138 thousand units of employees’ stock options 5,166 5,166
Dilutive shares of employee stock options accounted for under treasury
stock method
– 245,983
Dilutive shares issued assuming conversion of bonds – 20,660
Ending balance 17,395,344 17,661,987
Earnings per share
Net income (NTD) $1.83 $1.80
2003 (Retroactively adjusted) Basic Diluted
Net income $14,020,257 $14,071,211
Weighted average of shares outstanding:
Beginning balance 15,238,579 15,238,579
Stock dividends and employees’ bonus at 4.4% in 2003 670,497 670,497
Stock dividends and employees’ bonus at 8.7% in 2004 1,382,488 1,382,488
Purchase of 99,195 thousand shares of treasury stock in 2003 (87,216) (87,216)
Treasury stock transferred to employees of 136,620 thousand shares in 2003 8,950 8,950
Dilutive shares of employee stock options accounted for under treasury
stock method
– 228,762
Dilutive shares issued assuming conversion of bonds – 152,565
Ending balance 17,213,298 17,594,625
Earnings per share
Shares expressed in thousands
Net income (NTD) $0.81 $0.80
Note 4