TSMC beats revenue targets

July 8, 2003 – Taiwan Semiconductor Manufacturing Co. (TSMC), Hsinchu, Taiwan, said its 2Q revenues were up 27% to $1.45 billion, ahead of even the company’s aggressive estimates in April.

The company booked sales of approximately $521.7 million in June, and sales for the quarter rose 13% from a year ago. TSMC’s fab utilization rate grew to 86%, up from 67 percent in the first quarter.

Contributing to the increased revenues were new products from TSMC clients Nvidia, Texas Instruments, and Motorola, whose chips rely on TSMC’s more advanced (high-margin) production processes.

ING Securities analyst Chris Hsieh predict TSMC’s revenues will continue to climb into the third quarter, driven by demand for DVDs, wireless LAN, graphics chips, and mobile handsets.


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