TSMC Reports 18% Sequential Increase in Third Quarter Revenue with EPS of NT$0.99

Net sales increased 18.4% to NT$69.26 billion compared to NT$58.52 billion in the second quarter 2005. The increase in third quarter revenue mainly resulted from a 19.8% increase of wafer shipments, a 2.6% appreciation of the US dollar against the local currency, and a 4.9% decline of the wafer average selling price (ASP).

Revenues from communication and consumer applications increased in this quarter mainly due to stronger seasonal demand and introduction of new products. Due to weaknesses in demand experienced in the PC Graphics sector, revenues from computer applications declined.

Revenue from advanced technologies -- defined as 0.13-micron and below -- accounted for 43% of total wafer sales. Meanwhile, percentage of revenue from 90nm increased to 10% from 2% previously.

IDM accounted for 29% of wafer sales during the quarter, up from 26% in the previous quarter.

Geographically, North America accounted for 75% of wafer sales, down from 77% in 2Q05. Meanwhile, sales from Asia Pacific increased to 11% of wafer sales from 9% previously.

ASP Trend:

We have some product mix factors that positively contributed to the blended average price, but the general price declines had led to a 4.9% sequential decline in ASP. To view I - 2. ASP Trend, please visit http://www.tsmc.com/uploadfile/ir/quarterly/index_charts.pdf .


    II. Utilization & Capacity

    Utilization Rate:

Overall capacity utilization improved by 11 percentage points to 96% in this quarter, reflecting stronger demand from customers across the board. To view II - 2. Utilization Rate, please visit http://www.tsmc.com/uploadfile/ir/quarterly/index_charts.pdf .


    II - 2. Capacity
    Fab / (Wafer size)             1Q05      2Q05     3Q05      4Q05     2005
                                  (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
    WaferTech       (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


    Capacity:

Total TSMC managed capacity in 3Q05 was 1,550K 8-inch equivalent wafers, 6.8% higher than the 1,451K wafers in 2Q05.

TSMC managed capacity in 4Q05 will increases to 1,629K wafers, representing a 5.1% sequential growth. The newly added capacity in 4Q05 will be mainly for the continuing ramp up of advanced capacities in Fab 12 and Fab 14.

Overall installed capacity for year 2005 is expected to reach 5.96 million 8-inch equivalent wafers, a 24% year-over-year growth.

    III. Profit & Expense Analysis


      III - 1. Gross Profit Analysis
      (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%


        Gross  Profit  Analysis: 


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