TSM FY 2007 Earnings Report — Taiwan Semiconductor Manufacturing Company Limited Revenue & Financial Results | Market Cap Arena

Taiwan Semiconductor Manufacturing Company LimitedTSM

FY 2007 Earnings

Reported April 15, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$10.2B	—	$10.1B	—	1.7%
Op. Income	$3.5B	—	$4.0B	—	-12.2%
Gross Margin	44.1%	—	49.1%	—	-5.0pp
Net Margin	33.8%	—	40.0%	—	-6.2pp
EPS (Diluted)	$0.64	—	$0.76	—	-15.3%
Free Cash Flow	$3.2B	—	$4.0B	—	-21.0%

Revenue Flow

Item	Amount
REVENUE	$10.2B
Cost of Revenue	$5.7B
GROSS PROFIT	$4.5B
R&D Expenses	$568M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$402M
Other Expenses	$1M
Operating Expenses	$971M
Cost & Expenses	$6.7B
OPERATING INCOME	$3.5B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$314M
INCOME BEFORE TAX	$3.9B
Income Tax Expense	$371M
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$24M
NET INCOME	$3.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.5B
D&A	$2.5B
EBIT	$3.5B
EBITDA	$6.1B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$10.2B
Cost of Revenue	$5.7B
GROSS PROFIT	$4.5B
R&D Expenses	$568M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$402M
Other Expenses	$1M
Operating Expenses	$971M
Cost & Expenses	$6.7B
OPERATING INCOME	$3.5B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$314M
INCOME BEFORE TAX	$3.9B
Income Tax Expense	$371M
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$24M
NET INCOME	$3.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.5B
D&A	$2.5B
EBIT	$3.5B
EBITDA	$6.1B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$3.5B
Depreciation & Amortization	$2.5B
Stock-Based Compensation	$0
Deferred Income Tax	$30M
Other Non-Cash Items	-$64M
Change in Working Capital	-$133M
OPERATING CASH FLOW	$5.8B
Capital Expenditure	-$2.7B
Acquisitions (Net)	$2M
Purchases of Investments	-$3.0B
Sales/Maturities of Investments	$3.6B
Other Investing Activities	-$178M
NET CASH FROM INVESTING	-$2.2B
Net Debt Issuance	-$211M
Common Stock Repurchased	-$1.4B
Common Dividends Paid	-$2.5B
Other Financing Activities	-$203M
NET CASH FROM FINANCING	-$4.3B
FREE CASH FLOW	$3.2B
Net Change in Cash	-$724M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.0B
Short-Term Investments	$2.5B
Net Receivables	$1.4B
Inventory	$756M
Other Current Assets	$276M
TOTAL CURRENT ASSETS	$7.9B
PP&E (Net)	$8.2B
Goodwill	$190M
Intangible Assets	$251M
Long-Term Investments	$0
Tax Assets	$232M
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$10.2B
TOTAL ASSETS	$18.1B
Account Payables	$367M
Short-Term Debt	$9M
Deferred Revenue	$0
Other Current Liabilities	$606M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$451M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$526M
TOTAL NON-CURRENT LIABILITIES	$997M
TOTAL LIABILITIES	$2.5B
Common Stock	$8.4B
Additional Paid-In Capital	$1.7B
Retained Earnings	$6.9B
Treasury Stock	-$1.6B
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.4B
Minority Interest	$114M
TOTAL EQUITY	$15.5B
TOTAL LIABILITIES & EQUITY	$18.1B
Total Debt	$481M
Net Debt	-$2.5B