TSMC Reports First Quarter EPS of NT$0.06

Liquidity Analysis:

At the end of 1Q09, total current assets increased by NT$ 15.94 billion to NT$268.56 billion, mainly contributed by the free cash flow of NT$21.17 billion (please refer to page 5) generated during this quarter.

Total current liabilities decreased by NT$11.44 billion in 1Q09, primarily resulting from the repayment of corporate bond and a decline in payables to contractors and equipment suppliers.

Net working capital was NT$223.19 billion and current ratio increased to 5.9x.

    III - 2. Receivable/Inventory Days

    (In Number of Days)
                                              1Q09        4Q08        1Q08
    Days of Receivable                          38          46          43
    Days of Inventory                           44          40          46

Receivable and Inventory Days:

Sequentially, days of receivable decreased by eight days to 38 days in 1Q09, mainly due to a lower level of business activities.

Days of inventory increased by four days to 44 days, reflecting an improving business outlook for 2Q09.

    III - 3. Debt Service

    (In NT billions)                          1Q09        4Q08        1Q08

    Cash & Marketable Securities            229.79      211.45      210.31
    Interest-Bearing Debt                    16.00       23.44       22.88
    Net Cash Reserves                       213.79      188.01      187.43

Debt Service:

Net cash reserves -- defined as the excess of cash and short-term marketable securities over interest-bearing debt -- increased by NT$25.78 billion to NT$213.79 billion at the end of 1Q09, primarily due to free cash flow of NT$21.17 billion generated during this quarter.

    IV. Cash Flow

    IV - 1. Cash Flow Analysis
    (In NT billions)                          1Q09        4Q08        1Q08

    Net Income                                1.56       12.45       28.14
    Depreciation & Amortization              20.48       20.96       19.83
    Other Operating Sources/(Uses)            4.75       29.83        9.33
    Total Operating Sources/(Uses)           26.79       63.24       57.30

    Capital Expenditure                      (5.62)     (11.26)     (15.31)
    Marketable Financial Instruments         13.80       30.31       12.91
    Other Investing Sources/(Uses)           (0.04)      (1.04)      (0.73)
    Net Investing Sources/(Uses)              8.14       18.01       (3.13)

    Repayment of Bonds Payable               (8.00)       0.00        0.00

    Purchase of Treasury Stock                0.00        0.00       (3.05)
    Other Financing Sources/(Uses)            0.12       (0.30)      (0.24)
    Net Financing Sources/(Uses)             (7.88)      (0.30)      (3.29)

    Net Cash Position Changes                27.05       80.95       50.88

    Exchange Rate Changes & Others            1.60        1.21       (1.59)

    Ending Cash Balance                     223.26      194.61      144.28

Summary of Cash Flow:

Cash generated from operating activities totaled NT$26.79 billion during 1Q09, down from NT$63.24 billion in 4Q08, mainly due to lower level of business activities.

Net cash generated from investing activities was NT$8.14 billion in 1Q09, reflecting capital expenditure of NT$5.62 billion and a net decrease of NT$13.80 billion in marketable financial instruments.

    As a result, TSMC ended 1Q09 with a cash balance of NT$223.26 billion.

    IV - 2. Operating and Free Cash Flows:

Cash flows generated from operating activities were NT$26.79 billion during the quarter. Free cash flow, defined as the excess of operating cash flows over capital expenditures, totaled NT$21.17 billion in 1Q09, compared to NT$51.98 billion in 4Q08.

Please refer to the link for the index charts: http://www.tsmc.com/uploadfile/ir/quarterly/index_charts.pdf

    V. CapEx & Capacity

    V - 1. Capital Expenditures

   (In US millions)                          1Q09       4Q08

    TSMC                                      161        326
    XinTec and GUC                                2                    2
        TSMC  Shanghai  &  WaferTech                                      3                  12
        Other  TSMC  Subsidiaries                                          0                    2
        Total  TSMC                                                                166                342


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »

Review Article Be the first to review this article

Featured Video
Senior Formal FAE Location OPEN for EDA Careers at San Jose or Anywhere, CA
Design Verification Engineer for intersil at Morrisville, NC
Principle Electronic Design Engr for Cypress Semiconductor at San Jose, CA
Senior Electrical Engineer for Allen & Shariff Corporation at Pittsburgh, PA
ASIC Hardware Engineer for BAE Systems Intelligence & Security at Arlington, VA
Applications Engineer for intersil at Palm Bay, FL
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

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