TSM FY 2009 Earnings Report — Taiwan Semiconductor Manufacturing Company Limited Revenue & Financial Results | Market Cap Arena

Taiwan Semiconductor Manufacturing Company LimitedTSM

FY 2009 Earnings

Reported April 15, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$9.4B	—	$10.6B	—	-11.2%
Op. Income	$2.9B	—	$3.3B	—	-11.9%
Gross Margin	43.7%	—	42.5%	—	1.2pp
Net Margin	30.2%	—	30.0%	—	0.2pp
EPS (Diluted)	$0.54	—	$0.60	—	-9.7%
Free Cash Flow	$2.3B	—	$5.2B	—	-55.6%

Revenue Flow

Item	Amount
REVENUE	$9.4B
Cost of Revenue	$5.3B
GROSS PROFIT	$4.1B
R&D Expenses	$684M
Selling & Marketing	$142M
General & Administrative	$357M
SG&A Expenses	$500M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$6.5B
OPERATING INCOME	$2.9B
Interest Income	$82M
Interest Expense	$12M
Other Income/Expenses	$111M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$190M
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$2.6B
EBIT	$3.0B
EBITDA	$5.6B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$9.4B
Cost of Revenue	$5.3B
GROSS PROFIT	$4.1B
R&D Expenses	$684M
Selling & Marketing	$142M
General & Administrative	$357M
SG&A Expenses	$500M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$6.5B
OPERATING INCOME	$2.9B
Interest Income	$82M
Interest Expense	$12M
Other Income/Expenses	$111M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$190M
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$2.6B
EBIT	$3.0B
EBITDA	$5.6B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.8B
Depreciation & Amortization	$2.6B
Stock-Based Compensation	$0
Deferred Income Tax	-$55M
Other Non-Cash Items	$73M
Change in Working Capital	-$337M
OPERATING CASH FLOW	$5.1B
Capital Expenditure	-$2.8B
Acquisitions (Net)	$767.7K
Purchases of Investments	-$989M
Sales/Maturities of Investments	$759M
Other Investing Activities	-$47M
NET CASH FROM INVESTING	-$3.1B
Net Debt Issuance	-$256M
Common Stock Repurchased	$0
Common Dividends Paid	-$2.4B
Other Financing Activities	-$16M
NET CASH FROM FINANCING	-$2.7B
FREE CASH FLOW	$2.3B
Net Change in Cash	-$739M

Balance Sheet

Item	Amount
Cash & Equivalents	$5.4B
Short-Term Investments	$835M
Net Receivables	$1.1B
Inventory	$662M
Other Current Assets	$138M
TOTAL CURRENT ASSETS	$8.2B
PP&E (Net)	$8.7B
Goodwill	$188M
Intangible Assets	$205M
Long-Term Investments	$1.2B
Tax Assets	$253M
Other Non-Current Assets	$95M
TOTAL NON-CURRENT ASSETS	$10.6B
TOTAL ASSETS	$18.8B
Account Payables	$1.3B
Short-Term Debt	$30M
Deferred Revenue	$0
Other Current Liabilities	$216M
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$161M
Deferred Revenue NC	$32M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$308M
TOTAL NON-CURRENT LIABILITIES	$523M
TOTAL LIABILITIES	$3.0B
Common Stock	$8.2B
Additional Paid-In Capital	$1.8B
Retained Earnings	$5.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$42M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.7B
Minority Interest	$126M
TOTAL EQUITY	$15.8B
TOTAL LIABILITIES & EQUITY	$18.8B
Total Debt	$213M
Net Debt	-$5.2B