With strong operating performance and stable earnings during 2014, the company achieved a record year in both revenue and net income. Gross profit and operating income grew more than double compared to the previous year.

For the fiscal year 2014, Inotera reported sales revenues of NTD 82,571 million and net income of NTD 52,913 million, or earnings per share of NTD 8.32 based on weighted average outstanding shares of 6,361 million. The company's book value per share as of December 31st, 2014 was NTD 17.79. All numbers are un-audited.

Bit shipments in the fourth quarter decreased by 3% quarter-on-quarter, and annual bit shipments for 2014 increased by 24% year-on-year. The company expects bit shipments to be flat for the first quarter sequentially and to see a continuously growing portion of DDR4 DRAM output for the increasing demand from our customer.

Total capital expenditures on a book-entry basis in 2014 were NTD 22 billion. Annual guidance for 2015 remains at approximately NTD 50 billion in 2015, mainly for 20nm ramp as planned in the early of second quarter and the target of converting about 80% of its total wafer-start capacity to 20nm technology by the end of this year.