Wednesday, April 28, 2004
Taiwan Semiconductor Manufacturing Co. (TSMC), the world's biggest contract chipmaker, announced its first-quarter net income reached at a higher-than-expected level of NT$18.78 billion on sales of NT$57.5 billion. Thanks to the rising of chips for mobile phones and consumer electronics devices like flat computer displays and digital cameras.
The figures were the best quarterly result for TSMC since it posted a profit of NT$21.47 billion in the fourth quarter of 2000. TSMC said that first-quarter revenue climbed to NT$57.51 billion, up sharply from NT$39.32 billion a year earlier. The first-quarter income represented a gross profit margin of 39.5% and earnings per share (EPS) of NT$0.93.
Last quarter, the company was returned with NT$354 million for its more investments in Taiwan. Its capacity utilization is expected to run at 105% some time this quarter as a result of stopping part of capacity for regular maintenance.
The first-quarter financial results was mistakenly disclosed by its contracted auditing firm to the Taiwan Stock Exchange ahead of schedule. Deloitte & Touche's executives explained that one of the company's senior auditors carelessly posted results on a web site immediately after the auditor completed the auditing as the person usually did before.
TSMC schedule to announce the results at an institutional-investor conference slated for April 30. TSMC's PR manager, J.H. Tseng, said his company did not discuss whether or not change or punish the auditor who made the mistake.
By: DocMemory
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