HSINCHU, Taiwan Foundry chip maker Taiwan Semiconductor Manufacturing Co. Ltd. reported net income of NT$23.41 billion (about $670 million) on record-setting revenue of NT$64.87 billion (about $1.91 billion) in the quarter ended June 30, the company said Thursday (July 29). TSMC forecast sales revenue would increase in the third quarter.
On a sequential basis, the second quarter results represented a 12.8-percent increase in revenue and a 24.6- percent increase in net income. Year-over-year comparison revealed increases in revenue and net income of 30 percent and 100 percent, respectively.
Based on the current business outlook, TSMC said it expects single-digit sequential percentage increases in wafer shipments in the third quarter and average selling prices to remain at about the same level sequentially.
It said 2004 capital expenditure was expected to be about $2.4 billion. The overall capacity utilization rate in the third quarter is expected to be slightly down from 106 percent in the second quarter, but still well above 100 percent.
The increase in second quarter revenue resulted from a 9.4 percent increase in wafer shipments, a 3.2 percent increase in wafer average selling price, and a slightly weaker U.S. dollar exchange rate.
"Building upon four consecutive quarters of strong financial performance, TSMC has delivered a record-breaking set of financial results where both top-line and bottom-line figures continue to validate TSMC's strong fundamentals," said Lora Ho, TSMC's chief financial officer.