Gross margin for the quarter was 54 percent, operating margin was 53 percent, and net margin was 56 percent. The company's book value per share as of March 31st, 2014 was NTD 10.02. The 2 percent quarter-on-quarter decrease in the company's sales revenues was mainly due to a 3 percent decline in average sales revenue per wafer.

Wafer shipments were flat sequentially in the first quarter of 2014, and bit shipments increased by 5 percent quarter-on-quarter. Inotera expects to commence pilot runs of 20nm-technology at the end of the second quarter.

In response to the strong enterprise-demand from our customer, Inotera is continuously focusing on the production of DRAM-products for use in server and networking applications, and expects to see an increasing portion of DDR4 DRAM output for high-end products.

Total capital expenditures for year 2014 are expected to be NTD 22 billion, an increase from the previous guidance of NTD 15 billion, mainly for accelerating its conversion to 20nm-technology.

Inotera expects to commence pilot runs of 20nm-technology at the end of the second quarter, on schedule, and launch initial volume production in the end of 2014. The company expects to introduce high-efficiency mainstream DRAM products using this technology.