TSMC Reports 95% Increase in Record Year Profit Quarterly Net Income Reached NT$22 Billion

  IV - 3. Debt Service
     (Amount: NT$ billion)                    4Q04        3Q04        4Q03
     Cash & S-T Investments                  118.5       124.4       110.8
     Interest-Bearing Debt                    30.0        35.0        35.0
     Net Cash Reserves                        88.5        89.4        75.8

  Debt Service:

Net cash reserves, defined as the excess of cash and short-term investments over interest-bearing debt, decreased by NT$0.9 billion to NT$88.5 billion in 4Q04.

Interest-bearing debt reduced to NT$30 billion as NT$5 billion bonds were redeemed in this quarter.

  V. Cash Flow & CapEx

  V - 1. Cash Flow Analysis
     (Amount: NT$ billion)                    4Q04        3Q04        4Q03

     Net Income                               22.2        27.9        16.0
     Depreciation & Amortization              16.6        15.4        15.5
     Other Op Sources/(Uses)                  (2.1)       (5.1)       (0.0)
     Total Op Sources/(Uses)                  36.7        38.2        31.5
     Capital Expenditure                     (20.5)      (16.5)      (12.8)
     Short Term Investment                    (6.9)       (4.9)       (0.9)
     Long Term Investment                    (17.0)       (7.3)       (2.0)
     Other Investing Sources/(Uses)           (0.0)       (0.4)       (0.2)
     Net Investing Sources/(Uses)            (44.4)      (29.1)      (15.9)
     Cash dividends paid to common
      stocks                                   0.0       (12.2)        0.0
     Bonus paid to Employees                   0.0        (0.7)        0.0
     Payment on long-term bonds payable       (5.0)        0.0         0.0
     Other Financing Sources/(Uses)           (0.1)       (0.1)       (0.1)
     Net Financing Sources/(Uses)             (5.1)      (12.9)       (0.1)
     Net Cash Position Changes               (12.8)       (3.9)       15.6
     Cash Balance                             65.5        78.3        98.3

  Summary of Cash Flow:

During the quarter, TSMC generated NT$36.7 billion operating cash inflow mainly from net income of NT$22.2 billion and depreciation & amortization of NT$16.6 billion. This was partially offset by increases in working capital.

Net cash used in investing activities totaled NT$44.4 billion including (i) capital spending of NT$20.5 billion, (ii) a continued accumulation of NT$6.9 billion in short-term investments, and (iii) long-term investments of NT$3.5 billion in government and corporate bonds, NT$2.9 billion capital injection to TSMC (Shanghai), and NT$5.6 billion in a structured note and a NT$4.9 billion reclassification of such notes.

A net cash outflow of NT$5.1 billion in financing activities was largely attributable to the Company's NT$5.0 billion bond redemption.

  As a result, TSMC ended the quarter with a cash balance of NT$65.5 billion.

  Operating Cash Flow Trend:

Operating cash flow of NT$36.7 billion was slightly lower than the previous quarter due mainly to lower net income. To view V-2. Operating Cash Flow Trend, please visit http://www.tsmc.com/uploadfile/ir/quarterly/index_charts.pdf .

   (in US$ million)             1Q04   2Q04   3Q04   4Q04    2004
   TSMC                          489    683    484    621   2,277
   WaferTech                      14     27     26      5      72
   TSMC (Shanghai)                 1      9      8     51      69
                  Total          504    719    518    677   2,418

  Capital Spending:

Capital expenditures for TSMC alone during the quarter totaled US$621 million. Most of the spending was for 12-inch capacity ramp-up in Fab 12 and Fab 14.

Capital spending for WaferTech was US$5 million, and US$51 million for TSMC (Shanghai).

For Year 2004, total capital expenditures for TSMC as a group amounted to US$2.4 billion, including US$2.3 billion for TSMC, US$72 million for WaferTech, and US$69 million for TSMC (Shanghai).

  VI. Recap of Recent Important Events & Announcements

  -- TSMC Verifies Fully Functional 90 Nanometer Chips Using Immersion
     Lithography Tools (2004/12/22)

  -- TSMC Holds A Special Shareholders' Meeting To Approve Amendment of
     Dividend Policy (2004/12/21)

  -- TSMC 0.18-Micron High-Voltage Technology Goes to Volume Production

    --  TSMC  Is  Awarded  Best  IR  by  A  Taiwan  Company  by  IR  Magazine  (2004/11/04)

    --  TSMC  Board  of  Directors  Proposes  Amendment  of  Dividend  Policy

    --  TSMC  Aims  to  be  Best  Partner  in  "Invented/Made  in  China"  Arena

    --  Freescale  and  TSMC  to  Develop  Silicon-on-Insulator  Technology


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »

Review Article Be the first to review this article

Downstream : Solutuions for Post processing PCB Designs

Featured Video
Senior Formal FAE Location OPEN for EDA Careers at San Jose or Anywhere, CA
ASIC Hardware Engineer for BAE Systems Intelligence & Security at Arlington, VA
Senior Electrical Engineer for Allen & Shariff Corporation at Pittsburgh, PA
Applications Engineer for intersil at Palm Bay, FL
Design Verification Engineer for intersil at Morrisville, NC
Upcoming Events
IPC APEX EXPO 2018 at San Diego Convention Center San Diego CA - Feb 24 - 1, 2018
DVCon US 2018 at Double Tree Hotel San Jose CA - Feb 26 - 1, 2018
5th EAI International Conference on Big data and Cloud Computing Challenges at Vandalur, Kelambakkam high road chennai Tamil Nadu India - Mar 8 - 9, 2018
DownStream: Solutions for Post Processing PCB Designs
TrueCircuits: UltraPLL

Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise