Form 20-F þ | Form 40-F o |
Yes o | No þ |
FOR IMMEDIATE RELEASE |
||
| Revenue Analysis | |
| Utilization & Capacity | |
| Profit & Expense Analysis | |
| Financial Condition Review | |
| Cash Flow & CapEx | |
| Recap of Recent Important Events & Announcements |
(Amount in NT$ billion except noted otherwise) | 3Q05 | 2Q05 | 3Q04 | QoQ | YoY | |||||||||||||||
EPS (NT$ per com. shr.) |
0.99 | 0.74 | 1.13 | 33.3 | % | (12.2 | %) | |||||||||||||
(US$ per ADR unit) |
0.15 | 0.12 | 0.17 | |||||||||||||||||
Net Sales |
69.26 | 58.52 | 69.74 | 18.4 | % | (0.7 | %) | |||||||||||||
Gross Profit |
30.53 | 23.21 | 32.14 | 31.5 | % | (5.0 | %) | |||||||||||||
Operating Expense |
(5.60 | ) | (5.42 | ) | (6.02 | ) | 3.2 | % | (7.0 | %) | ||||||||||
Non-Operating Items |
(0.51 | ) | (0.05 | ) | 2.01 | 899.3 | % | |||||||||||||
Net Income |
24.49 | 18.37 | 27.93 | 33.3 | % | (12.3 | %) | |||||||||||||
Wafers Shipped (kpcs 8 inch-equiv.) |
1,527 | 1,275 | 1,333 | 19.8 | % | 14.5 | % | |||||||||||||
Capacity Utilization |
96 | % | 85 | % | 103 | % | ||||||||||||||
Net Profit Margin |
35.4 | % | 31.4 | % | 40.1 | % |
TSMC October 27, 2005 |
Page 2 |
By Application | 3Q05 | 2Q05 | 3Q04 | |||||||||
Computer |
30 | % | 38 | % | 31 | % | ||||||
Communication |
41 | % | 37 | % | 42 | % | ||||||
Consumer |
23 | % | 18 | % | 20 | % | ||||||
Industrial/Others |
5 | % | 6 | % | 5 | % | ||||||
Memory |
1 | % | 1 | % | 2 | % |
By Technology | 3Q05 | 2Q05 | 3Q04 | |||||||||
90nm- |
10 | % | 2 | % | 0 | % | ||||||
0.11/0.13um |
33 | % | 41 | % | 30 | % | ||||||
0.15/0.18um |
35 | % | 34 | % | 38 | % | ||||||
0.25/0.35um |
16 | % | 17 | % | 24 | % | ||||||
0.50um+ |
6 | % | 6 | % | 8 | % |
By Customer Type | 3Q05 | 2Q05 | 3Q04 | |||||||||
Fabless/System |
71 | % | 74 | % | 69 | % | ||||||
IDM |
29 | % | 26 | % | 31 | % |
By Geography | 3Q05 | 2Q05 | 3Q04 | |||||||||
North America |
75 | % | 77 | % | 75 | % | ||||||
Asia Pacific |
11 | % | 9 | % | 11 | % | ||||||
Europe |
9 | % | 8 | % | 7 | % | ||||||
Japan |
5 | % | 6 | % | 7 | % |
TSMC October 27, 2005 |
Page 3 |
1Q05 | 2Q05 | 3Q05 | 4Q05 | 2005 | ||||||||||||||||
Fab / (Wafer size) | (Act.) | (Act.) | (Act.) | (Fcst.) | (Fcst.) | |||||||||||||||
Fab-2 (6")1 |
238 | 249 | 251 | 251 | 989 | |||||||||||||||
Fab-3 (8") |
234 | 245 | 247 | 247 | 973 | |||||||||||||||
Fab-5 (8") |
119 | 125 | 126 | 126 | 496 | |||||||||||||||
Fab-6 (8") |
203 | 214 | 217 | 217 | 850 | |||||||||||||||
Fab-7 (8") |
36 | 39 | 40 | 40 | 155 | |||||||||||||||
Fab-8 (8") |
222 | 217 | 227 | 227 | 893 | |||||||||||||||
Fab-12 (12")2 |
85 | 103 | 122 | 139 | 448 | |||||||||||||||
Fab-14 (12")2 |
18 | 36 | 46 | 56 | 156 | |||||||||||||||
TSMC owned capacity
8"-equivalent Kpcs |
1,180 | 1,292 | 1,374 | 1,437 | 5,282 | |||||||||||||||
Wafer Tech (8") |
95 | 96 | 100 | 100 | 389 | |||||||||||||||
SSMC (8") |
41 | 42 | 47 | 49 | 179 | |||||||||||||||
TSMC (Shanghai)(8") |
9 | 22 | 30 | 44 | 105 | |||||||||||||||
Total TSMC managed
8"-equivalent Kpcs |
1,324 | 1,451 | 1,550 | 1,629 | 5,955 |
Note: |
1. | Figures represent number of 6" wafers. Conversion to 8"-equivalent wafers is by dividing this number by 1.78 | |
2. | Figures represent number of 12" wafers. Conversion to 8"-equivalent wafers is by multiplying this number by 2.25 |
TSMC October 27, 2005 |
Page 4 |
(Amount: NT$ billion) | 3Q05 | 2Q05 | 3Q04 | |||||||||
COGS |
38.7 | 35.3 | 37.6 | |||||||||
Depreciation |
15.5 | 16.0 | 13.7 | |||||||||
Other MFG Cost |
23.2 | 19.3 | 23.9 | |||||||||
Gross Profit |
30.5 | 23.2 | 32.1 | |||||||||
Gross Margin |
||||||||||||
- TSMC |
44.1 | % | 39.7 | % | 46.1 | % | ||||||
- TSMC w/o affiliates |
47.6 | % | 42.9 | % | 51.9 | % |
(Amount: NT$ billion) | 3Q05 | 2Q05 | 3Q04 | |||||||||
Total Operating Exp.
|
5.6 | 5.4 | 6.0 | |||||||||
SG&A
|
2.3 | 2.1 | 2.9 | |||||||||
Research & Development
|
3.3 | 3.3 | 3.1 |
(Amount: NT$ million) | 3Q05 | 2Q05 | 3Q04 | |||||||||
Non-Operating Income/(Exp.) |
(19 | ) | 537 | 630 | ||||||||
Net Interest Income/(Exp.) |
(41 | ) | 42 | 228 | ||||||||
Other Non-Operating |
22 | 495 | 402 | |||||||||
L-T Investments |
(491 | ) | (588 | ) | 1,378 | |||||||
WaferTech* |
487 | 352 | 1,643 | |||||||||
SSMC |
210 | 140 | 268 | |||||||||
Vanguard |
61 | 87 | 326 | |||||||||
TSMC (Shanghai) |
(760 | ) | (789 | ) | (237 | ) | ||||||
Miscellaneous |
(489 | ) | (378 | ) | (622 | ) |
* | Operation results only; does not include amortization of impaired assets. |
TSMC October 27, 2005 |
Page 5 |
(Amount: NT$ billion) | 3Q05 | 2Q05 | 3Q04 | |||||||||
Cash & S-T Investments |
107.3 | 128.0 | 116.5 | |||||||||
Accounts Receivable Trade |
37.2 | 30.1 | 33.3 | |||||||||
Inventory |
15.1 | 14.1 | 12.6 | |||||||||
Total Current Assets |
165.1 | 181.8 | 169.8 | |||||||||
Accounts Payable |
20.9 | 17.8 | 28.3 | |||||||||
Accrued Liabilities and others |
22.0 | 68.9 | 16.0 | |||||||||
Total Current Liabilities |
42.9 | 86.7 | 44.3 | |||||||||
Current Ratio (x) |
3.8 | 2.1 | 3.8 | |||||||||
Net Working Capital |
122.2 | 95.1 | 125.5 |
(Amount: NT$ billion) | 3Q05 | 2Q05 | 3Q04 | |||||||||
Cash & S-T Investments |
107.3 | 128.0 | 116.5 | |||||||||
Interest-Bearing Debt |
30.0 | 30.0 | 35.0 | |||||||||
Net Cash Reserves |
77.3 | 98.0 | 81.5 |
TSMC October 27, 2005 |
Page 6 |
(Amount: NT$ billion) | 3Q05 | 2Q05 | 3Q04 | |||||||||
Net Income |
24.5 | 18.4 | 27.9 | |||||||||
Depreciation & Amortization |
17.1 | 17.7 | 15.4 | |||||||||
Other Op Sources/(Uses) |
(3.7 | ) | (8.4 | ) | (5.1 | ) | ||||||
Total Op Sources/(Uses) |
37.9 | 27.7 | 38.2 | |||||||||
Capital Expenditure |
(9.1 | ) | (13.0 | ) | (16.5 | ) | ||||||
Short Term Investment |
0.6 | 2.2 | (4.9 | ) | ||||||||
Long Term Investment |
(0.7 | ) | (0.6 | ) | (11.9 | ) | ||||||
Other Investing Sources/(Uses) |
(0.2 | ) | 1.1 | (0.3 | ) | |||||||
Net Investing Sources/(Uses) |
(9.4 | ) | (10.3 | ) | (33.6 | ) | ||||||
Cash dividends Common stock |
(46.5 | ) | 0.0 | (12.2 | ) | |||||||
Employees Bonus |
(3.1 | ) | 0.0 | (0.7 | ) | |||||||
Other Financing Sources/(Uses) |
0.9 | 1.0 | (0.1 | ) | ||||||||
Net Financing Sources/(Uses) |
(48.7 | ) | 1.0 | (12.9 | ) | |||||||
Net Cash Position Changes |
(20.1 | ) | 18.4 | (8.3 | ) | |||||||
Ending Cash Balance |
58.5 | 78.6 | 70.4 |
TSMC
|
US$275 m | |||
TSMC (Shanghai)
|
US$44 m | |||
WaferTech
|
US$0 m | |||
TSMC & Affiliates
|
US$319 m |
TSMC October 27, 2005 |
Page 7 |
l
|
TSMC ranks #11 of BusinessWeeks Top 150 Leading Asian Companies ( 2005/10/24 ) | |
l
|
TSMC joins IMECs sub-45nm CMOS R&D project ( 2005/10/18 ) | |
l
|
TSMC is voted the Most Admired Company by CommonWealth Magazine ( 2005/10/13 ) | |
l
|
TSMC produces industrys first 1.3 megapixel CMOS image sensor for Agilent Technologies with Enhanced-Performance Pixel Architecture ( 2005/10/10 ) | |
l
|
TSMC September 2005 sales set record high ( 2005/10/07 ) | |
l
|
TSMC launches foundry industrys first 65nm prototype run ( 2005/10/05 ) | |
l
|
TSMC announces production-ready 90nm X Architecture ( 2005/10/04 ) | |
l
|
TSMC enters volume production of 90nm graphics chips for ATI ( 2005/09/26 ) | |
l
|
TSMC R&D team receives first Outstanding Nano-Tech Award from Ministry of Economic Affairs of Republic of China ( 2005/09/21 ) | |
l
|
TSMC recognizes its suppliers at 2005 SCM Forum ( 2005/09/15 ) | |
l
|
TSMC completes secondary offering of 151.655 million ADSs at US$8.60 per share ( 2005/08/05 ) |
* | Please visit TSMCs Web site (http://www.tsmc.com) for details about these and other announcements. |
* | Starting from 1Q05, TSMC will post quarterly consolidated financial statements, in addition to the unconsolidated financial statements, on our web site. |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. | ||
Unaudited Condensed Balance Sheet (Unconsolidated) | ||
As of September 30, 2005 and 2004 | ||
(Figures in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1) |
September 30, 2005 | September 30, 2004 (2) | YoY | |||||||||||||||||||||||||||
USD | NTD | % | NTD | % | Amount | % | |||||||||||||||||||||||
ASSETS |
|||||||||||||||||||||||||||||
Cash and Cash Equivalents |
1,762 | 58,467 | 12.1 | 70,372 | 15.2 | (11,905 | ) | (16.9 | ) | ||||||||||||||||||||
Short Term Investments |
1,471 | 48,822 | 10.1 | 46,128 | 10.0 | 2,694 | 5.8 | ||||||||||||||||||||||
Accounts Receivable Trade |
1,122 | 37,248 | 7.7 | 33,335 | 7.2 | 3,913 | 11.7 | ||||||||||||||||||||||
Inventories |
454 | 15,070 | 3.1 | 12,629 | 2.7 | 2,441 | 19.3 | ||||||||||||||||||||||
Other Current Assets |
164 | 5,447 | 1.2 | 7,300 | 1.6 | (1,853 | ) | (25.4 | ) | ||||||||||||||||||||
Total Current Assets |
4,973 | 165,054 | 34.2 | 169,764 | 36.7 | (4,710 | ) | (2.8 | ) | ||||||||||||||||||||
Long Term Investment |
2,379 | 78,958 | 16.3 | 66,104 | 14.3 | 12,854 | 19.4 | ||||||||||||||||||||||
Fixed Assets |
17,037 | 565,426 | 117.0 | 492,964 | 106.6 | 72,462 | 14.7 | ||||||||||||||||||||||
Less Accumulated Depreciation |
(10,441 | ) | (346,517 | ) | (71.7 | ) | (285,808 | ) | (61.8 | ) | (60,709 | ) | 21.2 | ||||||||||||||||
Net Fixed Assets |
6,596 | 218,909 | 45.3 | 207,156 | 44.8 | 11,753 | 5.7 | ||||||||||||||||||||||
Other Assets |
609 | 20,185 | 4.2 | 19,484 | 4.2 | 701 | 3.6 | ||||||||||||||||||||||
Total Assets |
14,557 | 483,106 | 100.0 | 462,508 | 100.0 | 20,598 | 4.5 | ||||||||||||||||||||||
LIABILITIES |
|||||||||||||||||||||||||||||
Accounts Payables |
303 | 10,042 | 2.1 | 12,997 | 2.8 | (2,955 | ) | (22.7 | ) | ||||||||||||||||||||
Payables to Contractors and Equipment Suppliers |
326 | 10,815 | 2.2 | 15,261 | 3.3 | (4,446 | ) | (29.1 | ) | ||||||||||||||||||||
Accrued Expenses and Other Current Liabilities |
348 | 11,547 | 2.4 | 10,974 | 2.4 | 573 | 5.2 | ||||||||||||||||||||||
Current Portion of Bonds Payable |
316 | 10,500 | 2.2 | 5,000 | 1.1 | 5,500 | 110.0 | ||||||||||||||||||||||
Total Current Liabilities |
1,293 | 42,904 | 8.9 | 44,232 | 9.6 | (1,328 | ) | (3.0 | ) | ||||||||||||||||||||
Bonds Payable |
588 | 19,500 | 4.0 | 30,000 | 6.5 | (10,500 | ) | (35.0 | ) | ||||||||||||||||||||
Other Long Term Liabilities |
288 | 9,591 | 2.0 | 9,013 | 1.9 | 578 | 6.4 | ||||||||||||||||||||||
Total Liabilities |
2,169 | 71,995 | 14.9 | 83,245 | 18.0 | (11,250 | ) | (13.5 | ) | ||||||||||||||||||||
SHAREHOLDERS EQUITY |
|||||||||||||||||||||||||||||
Capital Stock |
7,451 | 247,273 | 51.2 | 232,519 | 50.3 | 14,754 | 6.3 | ||||||||||||||||||||||
Capital Surplus |
1,711 | 56,777 | 11.7 | 56,529 | 12.2 | 248 | 0.4 | ||||||||||||||||||||||
Legal Reserve |
1,035 | 34,348 | 7.1 | 25,528 | 5.5 | 8,820 | 34.6 | ||||||||||||||||||||||
Special Reserve |
67 | 2,226 | 0.5 | | | 2,226 | | ||||||||||||||||||||||
Unappropriated Retained Earnings |
2,178 | 72,297 | 15.0 | 66,007 | 14.3 | 6,290 | 9.5 | ||||||||||||||||||||||
Treasury Stock |
(47 | ) | (1,550 | ) | (0.3 | ) | (1,617 | ) | (0.4 | ) | 67 | (4.1 | ) | ||||||||||||||||
Unrealized Loss on Long-term Investments |
| | | (3 | ) | | 3 | (100.0 | ) | ||||||||||||||||||||
Cumulated Translation Adjustment |
(7 | ) | (260 | ) | (0.1 | ) | 300 | 0.1 | (560 | ) | (186.6 | ) | |||||||||||||||||
Total Equity |
12,388 | 411,111 | 85.1 | 379,263 | 82.0 | 31,848 | 8.4 | ||||||||||||||||||||||
Total Liabilities & Shareholders Equity |
14,557 | 483,106 | 100.0 | 462,508 | 100.0 | 20,598 | 4.5 | ||||||||||||||||||||||
Note : | (1) | Amounts in new Taiwan dollars have been translated into U.S. dollars at the rate of NT$33.19 per U.S. dollar as of September 30, 2005 | |
(2) | Certain prior period balances have been reclassified to conform to the current period presentation. |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. | ||
Unaudited Condensed Balance Sheet (Unconsolidated) | ||
As of September 30, 2005 and June 30, 2005 | ||
(Figures in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1) |
September 30, 2005 | June 30, 2005 | QoQ | ||||||||||||||||||||||||||
USD | NTD | % | NTD | % | Amount | % | ||||||||||||||||||||||
ASSETS |
||||||||||||||||||||||||||||
Cash and Cash Equivalents |
1,762 | 58,467 | 12.1 | 78,597 | 15.8 | (20,130 | ) | (25.6 | ) | |||||||||||||||||||
Short Term Investments |
1,471 | 48,822 | 10.1 | 49,409 | 9.9 | (587 | ) | (1.2 | ) | |||||||||||||||||||
Accounts Receivable Trade |
1,122 | 37,248 | 7.7 | 30,116 | 6.0 | 7,132 | 23.7 | |||||||||||||||||||||
Inventories |
454 | 15,070 | 3.1 | 14,114 | 2.8 | 956 | 6.8 | |||||||||||||||||||||
Other Current Assets |
164 | 5,447 | 1.2 | 9,591 | 1.9 | (4,144 | ) | (43.2 | ) | |||||||||||||||||||
Total Current Assets |
4,973 | 165,054 | 34.2 | 181,827 | 36.4 | (16,773 | ) | (9.2 | ) | |||||||||||||||||||
Long Term Investment |
2,379 | 78,958 | 16.3 | 76,434 | 15.3 | 2,524 | 3.3 | |||||||||||||||||||||
Fixed Assets |
17,037 | 565,426 | 117.0 | 555,917 | 111.3 | 9,509 | 1.7 | |||||||||||||||||||||
Less Accumulated Depreciation |
(10,441 | ) | (346,517 | ) | (71.7 | ) | (330,854 | ) | (66.2 | ) | (15,663 | ) | 4.7 | |||||||||||||||
Net Fixed Assets |
6,596 | 218,909 | 45.3 | 225,063 | 45.1 | (6,154 | ) | (2.7 | ) | |||||||||||||||||||
Other Assets |
609 | 20,185 | 4.2 | 16,108 | 3.2 | 4,077 | 25.3 | |||||||||||||||||||||
Total Assets |
14,557 | 483,106 | 100.0 | 499,432 | 100.0 | (16,326 | ) | (3.3 | ) | |||||||||||||||||||
LIABILITIES |
||||||||||||||||||||||||||||
Accounts Payables |
303 | 10,042 | 2.1 | 7,827 | 1.6 | 2,215 | 28.3 | |||||||||||||||||||||
Payables to Contractors and Equipment Suppliers |
326 | 10,815 | 2.2 | 10,004 | 2.0 | 811 | 8.1 | |||||||||||||||||||||
Accrued Expenses and Other Current Liabilities |
348 | 11,547 | 2.4 | 58,393 | 11.7 | (46,846 | ) | (80.2 | ) | |||||||||||||||||||
Current Portion of Bonds Payable |
316 | 10,500 | 2.2 | 10,500 | 2.1 | | | |||||||||||||||||||||
Total Current Liabilities |
1,293 | 42,904 | 8.9 | 86,724 | 17.4 | (43,820 | ) | (50.5 | ) | |||||||||||||||||||
Bonds Payable |
588 | 19,500 | 4.0 | 19,500 | 3.9 | | | |||||||||||||||||||||
Other Long Term Liabilities |
288 | 9,591 | 2.0 | 9,008 | 1.8 | 583 | 6.5 | |||||||||||||||||||||
Total Liabilities |
2,169 | 71,995 | 14.9 | 115,232 | 23.1 | (43,237 | ) | (37.5 | ) | |||||||||||||||||||
SHAREHOLDERS EQUITY |
||||||||||||||||||||||||||||
Capital Stock |
7,451 | 247,273 | 51.2 | 247,261 | 49.5 | 12 | | |||||||||||||||||||||
Capital Surplus |
1,711 | 56,777 | 11.7 | 56,721 | 11.3 | 56 | 0.1 | |||||||||||||||||||||
Legal Reserve |
1,035 | 34,348 | 7.1 | 34,348 | 6.9 | | | |||||||||||||||||||||
Special Reserve |
67 | 2,226 | 0.5 | 2,226 | 0.4 | | | |||||||||||||||||||||
Unappropriated Retained Earnings |
2,178 | 72,297 | 15.0 | 47,809 | 9.6 | 24,488 | 51.2 | |||||||||||||||||||||
Treasury Stock |
(47 | ) | (1,550 | ) | (0.3 | ) | (1,552 | ) | (0.3 | ) | 2 | 0.2 | ||||||||||||||||
Cumulated Translation Adjustment |
(7 | ) | (260 | ) | (0.1 | ) | (2,613 | ) | (0.5 | ) | 2,353 | 90.0 | ||||||||||||||||
Total Equity |
12,388 | 411,111 | 85.1 | 384,200 | 76.9 | 26,911 | 7.0 | |||||||||||||||||||||
Total Liabilities & Shareholders Equity |
14,557 | 483,106 | 100.0 | 499,432 | 100.0 | (16,326 | ) | (3.3 | ) | |||||||||||||||||||
Note : | (1) | Amounts in new Taiwan dollars have been translated into U.S. dollars at the rate of NT$33.19 per U.S. dollar as of September 30, 2005. |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. | ||
Unaudited Condensed Income Statement (Unconsolidated) | ||
For the Three Months Ended September 30, 2005, September 30, 2004 and June 30, 2005 | ||
(Expressed in Millions New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1) | ||
Except for Per Share Amounts and Shares Outstanding) |
Year over Year Comparison | Sequential Comparison | |||||||||||||||||||||||||||||||||||||||
Q3 2005 | % of | Q3 2004 | YoY | Q3 2005 | % of | Q2 2005 | QoQ | |||||||||||||||||||||||||||||||||
USD | NTD | Sales | NTD | % | USD | NTD | Sales | NTD | % | |||||||||||||||||||||||||||||||
Net Sales |
2,149 | 69,258 | 100.0 | 69,735 | (0.7 | ) | 2,149 | 69,258 | 100.0 | 58,516 | 18.4 | |||||||||||||||||||||||||||||
Cost of Sales |
(1,202 | ) | (38,733 | ) | (55.9 | ) | (37,595 | ) | 3.0 | (1,202 | ) | (38,733 | ) | (55.9 | ) | (35,311 | ) | 9.7 | ||||||||||||||||||||||
Gross Profit |
947 | 30,525 | 44.1 | 32,140 | (5.0 | ) | 947 | 30,525 | 44.1 | 23,205 | 31.5 | |||||||||||||||||||||||||||||
Operating Expenses
|
||||||||||||||||||||||||||||||||||||||||
Research and Development Expenses |
(104 | ) | (3,341 | ) | (4.8 | ) | (3,123 | ) | 7.0 | (104 | ) | (3,341 | ) | (4.8 | ) | (3,283 | ) | 1.7 | ||||||||||||||||||||||
General and Administrative Expenses |
(58 | ) | (1,881 | ) | (2.8 | ) | (2,578 | ) | (27.0 | ) | (58 | ) | (1,881 | ) | (2.8 | ) | (1,799 | ) | 4.6 | |||||||||||||||||||||
Sales and Marketing Expenses |
(12 | ) | (373 | ) | (0.5 | ) | (318 | ) | 17.8 | (12 | ) | (373 | ) | (0.5 | ) | (339 | ) | 10.2 | ||||||||||||||||||||||
Total Operating Expenses |
(174 | ) | (5,595 | ) | (8.1 | ) | (6,019 | ) | (7.0 | ) | (174 | ) | (5,595 | ) | (8.1 | ) | (5,421 | ) | 3.2 | |||||||||||||||||||||
Income from Operations |
773 | 24,930 | 36.0 | 26,121 | (4.6 | ) | 773 | 24,930 | 36.0 | 17,784 | 40.2 | |||||||||||||||||||||||||||||
Net Non-Operating Income(Expenses) |
| (19 | ) | | 630 | (102.9 | ) | | (19 | ) | | 537 | (103.4 | ) | ||||||||||||||||||||||||||
Investment Gains (Losses) |
(15 | ) | (491 | ) | (0.7 | ) | 1,378 | (135.6 | ) | (15 | ) | (491 | ) | (0.7 | ) | (588 | ) | (16.4 | ) | |||||||||||||||||||||
Income before Income Tax |
758 | 24,420 | 35.3 | 28,129 | (13.2 | ) | 758 | 24,420 | 35.3 | 17,733 | 37.7 | |||||||||||||||||||||||||||||
Income Tax Benefits (Expenses) |
2 | 68 | 0.1 | (196 | ) | 134.3 | 2 | 68 | 0.1 | 636 | (89.5 | ) | ||||||||||||||||||||||||||||
Net Income |
760 | 24,488 | 35.4 | 27,933 | (12.3 | ) | 760 | 24,488 | 35.4 | 18,369 | 33.3 | |||||||||||||||||||||||||||||
Diluted Earnings Per Ordinary Share |
0.03 | 0.99 | 1.13 | (12.2 | ) | 0.03 | 0.99 | 0.74 | 33.3 | |||||||||||||||||||||||||||||||
Earnings Per
ADR (2) |
0.15 | 4.96 | 5.65 | 0.15 | 4.96 | 3.72 | ||||||||||||||||||||||||||||||||||
Diluted
Weighted Average Outstanding Shares (M)
(3) |
24,690 | 24,739 | 24,690 | 24,687 |
Note: | (1) | Amounts in new Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD32.23 per U.S. dollar for the third quarter of 2005. | |
(2) | 1 ADR equals 5 ordinary shares. | ||
(3) | Total diluted weighted average outstanding shares were 24,690M shares for 3Q05 and 24,739M shares for 3Q04 after the retroactive adjustments for stock dividends and stock bonus. |
9 months ended September 30 | ||||||||||||||||||||
2005 | 2005 | % of | 2004 | YoY | ||||||||||||||||
USD | NTD | Sales | NTD | % | ||||||||||||||||
Net Sales |
5,782 | 183,427 | 100.0 | 192,117 | (4.5 | ) | ||||||||||||||
Cost of Sales |
(3,406 | ) | (108,048 | ) | (58.9 | ) | (109,109 | ) | (1.0 | ) | ||||||||||
Gross Profit |
2,376 | 75,379 | 41.1 | 83,008 | (9.2 | ) | ||||||||||||||
Operating Expenses |
||||||||||||||||||||
Research and Development Expenses |
(314 | ) | (9,973 | ) | (5.4 | ) | (8,948 | ) | 11.5 | |||||||||||
General and Administrative Expenses |
(178 | ) | (5,625 | ) | (3.1 | ) | (7,214 | ) | (22.0 | ) | ||||||||||
Sales and Marketing Expenses |
(31 | ) | (991 | ) | (0.5 | ) | (1,051 | ) | (5.6 | ) | ||||||||||
Total Operating Expenses |
(523 | ) | (16,589 | ) | (9.0 | ) | (17,213 | ) | (3.6 | ) | ||||||||||
Income from Operations |
1,853 | 58,790 | 32.1 | 65,795 | (10.6 | ) | ||||||||||||||
Net Non-Operating Expenses |
28 | 905 | 0.4 | 458 | 97.6 | |||||||||||||||
Investment Gains (Losses) |
(40 | ) | (1,277 | ) | (0.7 | ) | 3,432 | (137.2 | ) | |||||||||||
Income before Income Tax |
1,841 | 58,418 | 31.8 | 69,685 | (16.2 | ) | ||||||||||||||
Income Tax Benefits |
40 | 1,257 | 0.7 | 447 | 181.1 | |||||||||||||||
Net Income |
1,881 | 59,675 | 32.5 | 70,132 | (14.9 | ) | ||||||||||||||
Diluted Earnings Per Ordinary Share |
0.08 | 2.42 | 2.83 | (14.7 | ) | |||||||||||||||
Earnings Per ADR(2) |
0.38 | 12.08 | 14.17 | |||||||||||||||||
Diluted Weighted Average Outstanding
Shares (M)(3) |
24,690 | 24,739 |
Note : |
(1) | Amounts in new Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD 31.73 per U.S. dollar for the nine months ended September 30, 2005. | |
(2) | 1 ADR equals 5 ordinary shares. | |
(3) | Total diluted weighted average outstanding shares were 24,690M shares for the nine months ended September 30, 2005 and 24,739M shares for the nine months ended September 30, 2004 after the retroactive adjustments for stock dividends and stock bonus. |
9 Months 2005 | 3Q 2004 | 2Q 2005 | 3Q 2004(2) | |||||||||||||||||
USD | NTD | NTD | NTD | NTD | ||||||||||||||||
Cash Flows from Operating Activities: |
||||||||||||||||||||
Net Income |
1,881 | 59,675 | 24,488 | 18,369 | 27,933 | |||||||||||||||
Depreciation & Amortization |
1,621 | 51,437 | 17,107 | 17,661 | 15,370 | |||||||||||||||
Deferred Income Tax |
(73 | ) | (2,329 | ) | (1,179 | ) | (597 | ) | 47 | |||||||||||
Investment Loss(Income) Recognized by Equity Method |
40 | 1,277 | 491 | 588 | (1,378 | ) | ||||||||||||||
Changes in Working Capital & Others |
(266 | ) | (8,436 | ) | (2,959 | ) | (8,301 | ) | (3,813 | ) | ||||||||||
Net Cash Provided from Operating Activities |
3,203 | 101,624 | 37,948 | 27,720 | 38,159 | |||||||||||||||
Cash Flows from Investing Activities: |
||||||||||||||||||||
Decrease(Increase) in Short-Term Investments |
131 | 4,157 | 587 | 2,229 | (4,929 | ) | ||||||||||||||
Increase in Long-Term Investments |
(318 | ) | (10,102 | ) | (3,683 | ) | (2,142 | ) | (11,892 | ) | ||||||||||
Acquisition of Fixed Assets |
(1,902 | ) | (60,336 | ) | (9,142 | ) | (13,033 | ) | (16,471 | ) | ||||||||||
Proceeds from Sales of Long-Term Investments |
143 | 4,529 | 3,014 | 1,515 | (243 | ) | ||||||||||||||
Proceeds from Disposal of Properties |
47 | 1,502 | 71 | 1,310 | 302 | |||||||||||||||
Increase in Deferred Assets |
(23 | ) | (736 | ) | (233 | ) | (217 | ) | (413 | ) | ||||||||||
Decrease(Increase) in Deposit-Out |
| 2 | 4 | (2 | ) | (3 | ) | |||||||||||||
Net Cash Used in Investing Activities |
(1,922 | ) | (60,984 | ) | (9,382 | ) | (10,340 | ) | (33,649 | ) | ||||||||||
Cash Flows from Financing Activities: |
||||||||||||||||||||
Cash Dividend Common Shares |
(1,466 | ) | (46,504 | ) | (46,504 | ) | | (12,159 | ) | |||||||||||
Bonus Paid to Employees |
(97 | ) | (3,086 | ) | (3,086 | ) | | (682 | ) | |||||||||||
Increase(Decrease) in Guarantee Deposits & Others |
61 | 1,950 | 845 | 1,147 | (75 | ) | ||||||||||||||
Bonus Paid to Directors and Supervisors |
(7 | ) | (231 | ) | | (231 | ) | | ||||||||||||
Proceeds from Exercise of Stock Options |
5 | 166 | 49 | 82 | | |||||||||||||||
Net Cash Provided(Used) in Financing Activities |
(1,504 | ) | (47,705 | ) | (48,696 | ) | 998 | (12,916 | ) | |||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents |
(223 | ) | (7,065 | ) | (20,130 | ) | 18,378 | (8,406 | ) | |||||||||||
Cash and Cash Equivalents at Beginning of Period |
2,066 | 65,532 | 78,597 | 60,219 | 78,778 | |||||||||||||||
Cash and Cash Equivalents at End of Period |
1,843 | 58,467 | 58,467 | 78,597 | 70,372 | |||||||||||||||
Note : | (1) | Amounts in new Taiwan dollars have been translated into U.S. dollars at the rate of NTD31.73 per U.S. dollar, the weighted average rate for the nine months ended September 30, 2005. | ||
(2) | Certain prior period amounts have been reclassified to conform to the current period presentation. |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. Unaudited Condensed Balance Sheets (Consolidated) As of September 30, 2005 and June 30, 2005 (Figures in Million of New Taiwan Dollars (NTD) and U.S. Dollars (USD))(1) |
September 30, 2005 | June 30, 2005 | QoQ | ||||||||||||||||||||||||||||||
USD | NTD | % | USD | NTD | % | Amount | % | |||||||||||||||||||||||||
ASSETS |
||||||||||||||||||||||||||||||||
Cash |
$ | 2,097 | $ | 69,582 | 14.0 | $ | 2,796 | $ | 88,405 | 17.3 | $ | (18,823 | ) | (21.3 | ) | |||||||||||||||||
Short Term Investment |
1,484 | 49,260 | 9.9 | 1,567 | 49,558 | 9.7 | (298 | ) | (0.6 | ) | ||||||||||||||||||||||
Accounts Receivable-Trade |
1,180 | 39,140 | 7.9 | 1,015 | 32,095 | 6.3 | 7,045 | 22.0 | ||||||||||||||||||||||||
Inventories |
489 | 16,239 | 3.3 | 479 | 15,159 | 3.0 | 1,080 | 7.1 | ||||||||||||||||||||||||
Other Current Assets |
147 | 4,879 | 1.0 | 277 | 8,740 | 1.7 | (3,861 | ) | (44.2 | ) | ||||||||||||||||||||||
Total Current Assets |
5,397 | 179,100 | 36.1 | 6,134 | 193,957 | 37.9 | (14,857 | ) | (7.7 | ) | ||||||||||||||||||||||
Long Term Investment |
1,215 | 40,331 | 8.1 | 1,241 | 39,251 | 7.7 | 1,080 | 2.8 | ||||||||||||||||||||||||
Fixed Assets |
19,149 | 635,513 | 128.1 | 19,673 | 622,025 | 121.6 | 13,488 | 2.2 | ||||||||||||||||||||||||
Less Accumulated Depreciation |
(11,576 | ) | (384,200 | ) | (77.4 | ) | (11,545 | ) | (365,019 | ) | (71.4 | ) | (19,181 | ) | 5.3 | |||||||||||||||||
Net Fixed Assets |
7,573 | 251,313 | 50.7 | 8,128 | 257,006 | 50.3 | (5,693 | ) | (2.2 | ) | ||||||||||||||||||||||
Other Assets |
765 | 25,372 | 5.1 | 671 | 21,207 | 4.1 | 4,165 | 19.6 | ||||||||||||||||||||||||
Total Assets |
$ | 14,950 | $ | 496,116 | 100.0 | $ | 16,174 | $ | 511,421 | 100.0 | $ | (15,305 | ) | (3.0 | ) | |||||||||||||||||
LIABILITIES |
||||||||||||||||||||||||||||||||
Short-term Bank Loans |
$ | 34 | $ | 1,124 | 0.2 | $ | 10 | $ | 316 | 0.1 | $ | 808 | 255.6 | |||||||||||||||||||
Accounts Payable |
297 | 9,851 | 2.0 | 241 | 7,605 | 1.5 | 2,246 | 29.5 | ||||||||||||||||||||||||
Payables to Contractors and Equipment Suppliers |
339 | 11,247 | 2.3 | 360 | 11,384 | 2.2 | (137 | ) | (1.2 | ) | ||||||||||||||||||||||
Accrued Expenses and Other Current Liabilities |
417 | 13,848 | 2.8 | 1,906 | 60,251 | 11.8 | (46,403 | ) | (77.0 | ) | ||||||||||||||||||||||
Current Portion of Bonds Payable |
317 | 10,505 | 2.1 | 332 | 10,505 | 2.1 | 0 | 0.0 | ||||||||||||||||||||||||
Total Current Liabilities |
1,404 | 46,575 | 9.4 | 2,849 | 90,061 | 17.6 | (43,486 | ) | (48.3 | ) | ||||||||||||||||||||||
Long-term Bank Loans |
30 | 1,003 | 0.2 | 30 | 958 | 0.2 | 45 | 4.7 | ||||||||||||||||||||||||
Bonds Payable |
588 | 19,500 | 3.9 | 617 | 19,500 | 3.8 | 0 | 0.0 | ||||||||||||||||||||||||
Other Long Term Liabilities |
516 | 17,141 | 3.5 | 505 | 15,961 | 3.1 | 1,180 | 7.4 | ||||||||||||||||||||||||
Total Liabilities |
2,538 | 84,219 | 17.0 | 4,001 | 126,480 | 24.7 | (42,261 | ) | (33.4 | ) | ||||||||||||||||||||||
SHAREHOLDERS EQUITY |
||||||||||||||||||||||||||||||||
Shareholders Equity |
||||||||||||||||||||||||||||||||
Capital Stock |
7,451 | 247,274 | 49.9 | 7,820 | 247,261 | 48.3 | 13 | 0.0 | ||||||||||||||||||||||||
Capital Surplus |
1,711 | 56,777 | 11.4 | 1,794 | 56,721 | 11.1 | 56 | 0.1 | ||||||||||||||||||||||||
Legal Reserve |
1,035 | 34,348 | 6.9 | 1,086 | 34,348 | 6.7 | 0 | 0.0 | ||||||||||||||||||||||||
Special Reserve |
67 | 2,226 | 0.4 | 70 | 2,226 | 0.4 | 0 | 0.0 | ||||||||||||||||||||||||
Unappropriated Retained Earnings |
2,178 | 72,296 | 14.6 | 1,512 | 47,809 | 9.3 | 24,487 | 51.2 | ||||||||||||||||||||||||
Treasury Stock |
(46 | ) | (1,550 | ) | (0.3 | ) | (49 | ) | (1,552 | ) | (0.3 | ) | 2 | (0.2 | ) | |||||||||||||||||
Cumulated Translation Adjustment |
(8 | ) | (260 | ) | (0.1 | ) | (83 | ) | (2,613 | ) | (0.5 | ) | 2,353 | (90.0 | ) | |||||||||||||||||
Total
Shareholders Equity before Minority Interest |
12,388 | 411,111 | 82.8 | 12,150 | 384,200 | 75.1 | 26,911 | 7.0 | ||||||||||||||||||||||||
Minority Interest |
24 | 786 | 0.2 | 23 | 741 | 0.2 | 45 | 6.0 | ||||||||||||||||||||||||
Total
Shareholders Equity |
12,412 | 411,897 | 83.0 | 12,173 | 384,941 | 75.3 | 26,956 | 7.0 | ||||||||||||||||||||||||
Total Liabilities & Shareholders Equity |
$ | 14,950 | $ | 496,116 | 100.0 | $ | 16,174 | $ | 511,421 | 100.0 | $ | (15,305 | ) | (3.0 | ) | |||||||||||||||||
Note | : (1) | New Taiwan dollar amounts have been translated into U.S. dollars at the rate of NT$33.19 per U.S. dollar as of September 30, 2005 |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. | ||
Unaudited Condensed Income Statements (Consolidated) | ||
For the Three Months Ended September 30 and June 30, 2005 | ||
(Expressed in Million New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1) | ||
Except for Per Share Amounts and Shares Outstanding) |
Sequential Comparison | ||||||||||||||||||||||||
Q3 2005 | % of | Q2 2005 | % of | QoQ | ||||||||||||||||||||
USD | NTD | Sales | NTD | Sales | Inc.(Dec.) % | |||||||||||||||||||
Net Sales |
2,187 | 70,501 | 100.0 | 59,978 | 100.0 | 17.5 | ||||||||||||||||||
Cost of Sales |
(1,227 | ) | (39,544 | ) | (56.1 | ) | (35,724 | ) | (59.6 | ) | 10.7 | |||||||||||||
Gross Profit |
960 | 30,957 | 43.9 | 24,254 | 40.4 | 27.6 | ||||||||||||||||||
Operating Expenses |
||||||||||||||||||||||||
Research and Development Expenses |
(107 | ) | (3,473 | ) | (4.9 | ) | (3,561 | ) | (5.9 | ) | (2.5 | ) | ||||||||||||
General and Administrative Expenses |
(75 | ) | (2,410 | ) | (3.4 | ) | (2,253 | ) | (3.8 | ) | 7.0 | |||||||||||||
Sales and Marketing Expenses |
(28 | ) | (897 | ) | (1.3 | ) | (1,227 | ) | (2.0 | ) | (26.9 | ) | ||||||||||||
Total Operating Expenses |
(210 | ) | (6,780 | ) | (9.6 | ) | (7,041 | ) | (11.7 | ) | (3.7 | ) | ||||||||||||
Income from Operations |
750 | 24,177 | 34.3 | 17,213 | 28.7 | 5.2 | ||||||||||||||||||
Net Non-operating Income (Expenses) |
1 | 19 | 0.0 | 464 | 0.8 | (96.0 | ) | |||||||||||||||||
Investment Gain |
8 | 271 | 0.4 | 226 | 0.4 | | ||||||||||||||||||
Income before Income Tax and Minority Interest |
759 | 24,467 | 34.7 | 17,903 | 29.8 | 36.7 | ||||||||||||||||||
Income Tax Credit |
2 | 57 | 0.1 | 491 | 0.8 | (88.3 | ) | |||||||||||||||||
Income before Minority Interest |
761 | 24,524 | 34.8 | 18,394 | 30.7 | 33.3 | ||||||||||||||||||
Minority Interest in Loss of Subsidiaries |
(1 | ) | (36 | ) | (0.1 | ) | (25 | ) | (0.0 | ) | 47.4 | |||||||||||||
Consolidated Net Income |
760 | 24,488 | 34.7 | 18,369 | 30.6 | 33.3 | ||||||||||||||||||
Note:(1) | New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD 32.23 per U.S. dollar for the third quarter of 2005. |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. | ||
Unaudited Condensed Income Statements (Consolidated) | ||
For the Nine Months Ended September 30, 2005 | ||
(Expressed in Million New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1) | ||
Except for Per Share Amounts and Shares Outstanding) |
9 months ended September 30, 2005 | ||||||||||||
% of | ||||||||||||
USD | NTD | Sales | ||||||||||
Net Sales |
$ | 5,905 | $ | 187,337 | 100.0 | |||||||
Cost of Sales |
(3,481 | ) | (110,448 | ) | (59.0 | ) | ||||||
Gross Profit |
2,424 | 76,889 | 41.0 | |||||||||
Operating Expenses
|
||||||||||||
Research and Development Expenses |
(329 | ) | (10,446 | ) | (5.6 | ) | ||||||
General and Administrative Expenses |
(226 | ) | (7,176 | ) | (3.8 | ) | ||||||
Sales and Marketing Expenses |
(86 | ) | (2,708 | ) | (1.4 | ) | ||||||
Total Operating Expenses |
(641 | ) | (20,330 | ) | (10.9 | ) | ||||||
Income from Operations |
1,783 | 56,559 | 30.2 | |||||||||
Net Non-operating Income (Expenses) |
39 | 1,222 | 0.6 | |||||||||
Investment Gain |
28 | 894 | 0.5 | |||||||||
Income before Income Tax and Minority Interest |
1,850 | 58,675 | 31.3 | |||||||||
Income Tax Credit |
33 | 1,061 | 0.6 | |||||||||
Income before Minority Interest |
1,883 | 59,736 | 31.9 | |||||||||
Minority Interest in Loss of Subsidiaries |
(2 | ) | (61 | ) | (0.0 | ) | ||||||
Consolidated Net Income |
$ | 1,881 | $ | 59,675 | 31.9 | |||||||
Diluted Earnings Per Ordinary Share |
$ | 0.08 | $ | 2.42 | ||||||||
Earnings Per ADR (2) |
$ | 0.38 | $ | 12.08 | ||||||||
Weighted Average Outstanding Shares (M) |
24,690 |
Note: (1) New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD 31.73 per U.S. dollar for the nine months ended September 30, 2005. |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. | ||
Unaudited Condensed Statements of Cash Flows (Consolidated) | ||
For the Nine Months and Six Months Ended September 30 and June 30, 2005 | ||
(Figures in Million of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1) |
9 Months 2005 | Q3 2005 | 6 Months 2005 | ||||||||||||||||||
USD | NTD | NTD | USD | NTD | ||||||||||||||||
Cash Flows from Operating Activities: |
||||||||||||||||||||
Consolidated Net Income |
$ | 1,881 | $ | 59,675 | $ | 24,488 | $ | 1,118 | $ | 35,187 | ||||||||||
Depreciation & Amortization |
1,796 | 56,986 | 19,006 | 1,207 | 37,980 | |||||||||||||||
Deferred Income Tax |
(76 | ) | (2,400 | ) | (1,220 | ) | (37 | ) | (1,180 | ) | ||||||||||
Investment Gain Recognized by Equity Method |
(28 | ) | (894 | ) | (271 | ) | (20 | ) | (623 | ) | ||||||||||
Accrued Pension Cost |
11 | 350 | 39 | 10 | 311 | |||||||||||||||
Changes in Working Capital & Others |
(214 | ) | (6,790 | ) | (2,128 | ) | (148 | ) | (4,662 | ) | ||||||||||
Net Cash Provided from Operating Activities |
3,370 | 106,927 | 39,914 | 2,130 | 67,013 | |||||||||||||||
Cash Flows from Investing Activities: |
||||||||||||||||||||
Decrease in
ShortTerm Investments |
163 | 5,175 | 424 | 151 | 4,751 | |||||||||||||||
Increase in Long-Term Investments |
(223 | ) | (7,061 | ) | (3,697 | ) | (107 | ) | (3,364 | ) | ||||||||||
Acquisition of Fixed Assets |
(2,089 | ) | (66,260 | ) | (10,598 | ) | (1,769 | ) | (55,662 | ) | ||||||||||
Proceeds from Sales of Long-Term Investments |
144 | 4,568 | 3,035 | 49 | 1,533 | |||||||||||||||
Proceeds from Disposal of Properties |
9 | 274 | 147 | 4 | 127 | |||||||||||||||
Increase in Deferred Assets |
(23 | ) | (744 | ) | (226 | ) | (16 | ) | (518 | ) | ||||||||||
(Increase)Decrease in Deposit-Out |
0 | (0 | ) | 7 | 0 | (7 | ) | |||||||||||||
(Increase)Decrease in Other Assets |
0 | (9 | ) | (14 | ) | 0 | 5 | |||||||||||||
Net Cash Used in Investing Activities |
(2,019 | ) | (64,057 | ) | (10,922 | ) | (1,688 | ) | (53,135 | ) | ||||||||||
Cash Flows from Financing Activities: |
||||||||||||||||||||
Cash Dividend Common Shares |
(1,463 | ) | (46,420 | ) | (46,420 | ) | | 0 | ||||||||||||
Increase(Decrease) in Short-Term Bank Loans |
19 | 611 | 674 | (2 | ) | (63 | ) | |||||||||||||
Decrease in Long-Term Bank Loans |
(31 | ) | (996 | ) | (50 | ) | (30 | ) | (946 | ) | ||||||||||
Bonus Paid to Employees |
(97 | ) | (3,086 | ) | (3,086 | ) | 0 | 0 | ||||||||||||
Proceeds From Disposal of Treasury Stocks |
2 | 52 | 3 | 2 | 49 | |||||||||||||||
Decrease in Guarantee Deposits & Others |
62 | 1,953 | 847 | 35 | 1,106 | |||||||||||||||
Bonus Paid to Directors and Supervisors |
(7 | ) | (231 | ) | 0 | (7 | ) | (231 | ) | |||||||||||
Increase(Decrease) in Minority Interest |
0 | 0 | (11 | ) | 0 | 11 | ||||||||||||||
Issuance of Stocks Option |
5 | 166 | 49 | 4 | 117 | |||||||||||||||
Net Cash
(Used in) Provided from Financing Activities |
(1,510 | ) | (47,951 | ) | (47,994 | ) | 2 | 43 | ||||||||||||
Net Decrease in Cash and Cash Equivalents |
(159 | ) | (5,081 | ) | (19,002 | ) | 444 | 13,921 | ||||||||||||
Others |
11 | 360 | 407 | (1 | ) | (47 | ) | |||||||||||||
Cash and Cash Equivalents at Beginning of Period |
2,342 | 74,303 | (228 | ) | 2,368 | 74,531 | ||||||||||||||
Cash and Cash Equivalents at End of Period |
$ | 2,194 | $ | 69,582 | $ | (18,823 | ) | $ | 2,811 | $ | 88,405 | |||||||||
Note : | (1) | New Taiwan dollar amounts have been translated into U.S. dollars at the rate of NTD31.73 per U.S. dollar, the weighted average exchange rate for the nine months ended September 30, 2005. |
TSMC 2005 Third Quarter Results Investor Conference October 27th, 2005 |
Agenda Welcome 2005 3Q Financial Results Lora Ho, CFO (unconsolidated) Remarks Rick Tsai, CEO Q&A |
Safe Harbor Notice TSMC's statements of its current expectations are forward- looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. Information as to those factors that could cause actual results to vary can be found in TSMC's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") on May 16, 2005, TSMC's registration statement on Form F-3, filed with the SEC on July 5, 2005, and such other documents as TSMC may file with, or submit to, the SEC from time to time. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise. |
* Annualized ROE for the quarter. 3Q'05 Result Highlights |
Income Statement - QoQ Comparison |
Income Statement - YoY Comparison |
Balance Sheet & Key Indices |
Cash Flows |
Note: 1 Figures represent number of 6" wafers. Conversion to 8"-equivalent wafers is by dividing this number by 1.78. 2 Figures represent number of 12" wafers. Conversion to 8"-equivalent wafers is by multiplying this number by 2.25. Installed Capacity by Fab |
Capital Expenditures 2005 CapEx is expected to remain in the range of US$2.5 -2.7 billion |
Sales Breakdown by Technology |
Sales Breakdown by Application |
Note: This chart does not reflect the actual shipment destination of sales. Sales Breakdown by Geography |
Sales Breakdown by Customer |
Fab Utilization and ASP Trend |
Improved Cost Structure Contributing to Higher Gross Margin Source: TSMC quarterly financials based on ROC GAAP (unconsolidated) |
4Q'05 Guidance Revenues to be between NT$77 billion and NT$79 billion; Overall utilization rate to be about 100%; Gross profit margin to reach between 47% and 49%; Operating profit margin to be approximately 40%. |
Recap of Recent Major Events - 1/2 TSMC ranks #11 of BusinessWeek's "Top 150 Leading Asian Companies" ( 2005/10/24 ) TSMC joins IMEC's sub-45nm CMOS R&D project ( 2005/10/18 ) TSMC is voted the "Most Admired Company" by CommonWealth Magazine ( 2005/10/13 ) TSMC produces industry's first 1.3 megapixel CMOS image sensor for Agilent Technologies with Enhanced-Performance Pixel Architecture ( 2005/10/10 ) TSMC September 2005 sales set record high ( 2005/10/07 ) TSMC launches foundry industry's first 65nm prototype run ( 2005/10/05 ) TSMC announces production-ready 90nm X Architecture ( 2005/10/04 ) |
Recap of Recent Major Events - 2/2 TSMC enters volume production of 90nm graphics chips for ATI ( 2005/09/26 ) TSMC R&D team receives first Outstanding Nano-Tech Award from Ministry of Economic Affairs of Republic of China ( 2005/09/21 ) TSMC recognizes its suppliers at 2005 SCM Forum ( 2005/09/15 ) TSMC completes secondary offering of 151.655 million ADSs at US$8.60 per share ( 2005/08/05 ) * Please visit TSMC's Web site (http://www.tsmc.com) for details and other announcements. * Starting from 1Q05, TSMC will post quarterly consolidated financial statements, in addition to the unconsolidated financial statements, on our web site. |
http://www.tsmc.com invest@tsmc.com |
Taiwan Semiconductor Manufacturing Company Ltd. | ||||||
Date: October 27, 2005
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By | /s/ Lora Ho | ||||
Vice President & Chief Financial Officer |