SAN JOSE, Calif. -- Silicon foundry giant Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) saw its fortunes tumble in the quarter, but it sees a rebound.
TSMC (Hsinchu, Taiwan) posted sales of NT$1.56 billion ($1.164 billion) and a net income of NT$39.5 billion ($44 million) for the first quarter.
First quarter revenue decreased 54.8 percent while net income decreased 94.5 percent over the previous year. Compared to fourth quarter of 2008, first quarter results represent a 38.8 percent decrease in revenue, and a decrease of 87.5 percent in net income.
Advanced process technologies (0.13-micron and below) accounted for 65 percent of wafer revenues with 90-nm technology accounting for 25 percent, 65-nm 23 percent, and 45/40-nm reaching 1 percent of total wafer sales.
"After sharp declines in two consecutive quarters, TSMC is seeing a strong rebound in its second quarter business and believes overall business in the second half of 2009 will be considerably better than that of the first half," said Lora Ho, vice president and chief financial officer of TSMC, in a statement.
Going forward in Q2, revenue is expected to be between NT$71 billion and NT$74 billion ($2.136-to-$2.226 billion). The management further expects that 2009 capital expenditure will be around $1.5 billion.
Separate, TSMC announced a foundry deal with Fujitsu Ltd. Meanwhile, Chartered, SMIC and UMC also posted weak numbers in Q1.