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TSMC posts $2.42B revenue for Q1

Posted: 02 May 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Taiwan Semiconductor? TSMC? revenue?

Taiwan Semiconductor Mfg Co. Ltd (TSMC) announced, on an unconsolidated basis, revenue of around $2.42 billion, net income of $1.02 billion, and fully diluted earnings per share of 20 cents per ADS unit for the first quarter, which ended March 31, 2006. On a consolidated basis, net sales were $2.44 billion, while net income and EPS remained at $1.02 billion and 20 cents, respectively.

The company also disclosed that y-o-y first quarter unconsolidated revenue increased 38.9 percent, while net income and fully diluted EPS increased 93.9 percent and 93.6 percent, respectively.

On a sequential basis, said TSMC, unconsolidated first quarter results represent a 4.8 percent decrease in revenue, a 3.8 percent decrease in net income and a 3.9 percent decrease in fully diluted EPS. All figures were prepared in accordance with R.O.C. GAAP.

TSMC's Q1 revenue surpassed the company's guidance due to the stronger than expected demand in certain product segments. Advanced process technologies (0.13?m and below) accounted for 49 percent of wafer revenues, while revenues from 90nm process technology alone was 20 percent of the total wafer sales. Gross margin declined from 49.1 percent in the previous quarter to 47.4 percent in Q1, with 3.3 percent depreciation in U.S. dollars being an important factor.

''Due primarily to seasonality and a weaker U.S. dollar, our first quarter business had declined as we expected, although revenue surpassed our guidance,'' said TSMC VP and CFO Lora Ho. ''Going forward, we expect the demand to increase for most of the application segments and the currency exchange rate impact to be less pronounced.

Based on TSMC's current business outlook, added Ho, the management expects Q2 revenue to be between $2.48 billion and $2.54 billion, and consolidated revenue to be between $2.51 billion and $2.58 billion.

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