Wednesday, January 29, 2003
TSMC today lowered its capital expenditure for 2003 to between $1 billion to $1.5 billion from 2002's $1.6 billion.
TSMC saw a 28 percent increase in its full-year 2002 revenues at $4.66 billion with net profit of $625 million, a 49 percent growth compared to 2001.
Net sales for Q4 reached $1.19, a 3.3 percent sequentially growth. Net income totaled $73.8 million, a 19.2 percent decline form the prior quarter and a 43.4 percent decline from Q4 2001.
"Lower net earnings in the quarter reflected several factors: a reduction in our capacity utilization rate from 79 percent to 61 percent, an increase in our R&D expenditures and increased investment losses," said Harvey Chang, TSMC's senior VP and CFO.
The company said it expects to bottom out in Q1 and has plans to exceed the 8 percent growth it is predicting for the semiconductor industry in 2003. Overall utilization rate for Q1 is expected to be around 60 percent.
By: DocMemory
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