TSM FY 2010 Earnings Report — Taiwan Semiconductor Manufacturing Company Limited Revenue & Financial Results | Market Cap Arena

Taiwan Semiconductor Manufacturing Company LimitedTSM

FY 2010 Earnings

Reported April 15, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$13.3B	—	$9.4B	—	41.9%
Op. Income	$5.0B	—	$2.9B	—	73.1%
Gross Margin	49.4%	—	43.7%	—	5.6pp
Net Margin	38.5%	—	30.2%	—	8.4pp
EPS (Diluted)	$1.04	—	$0.54	—	90.1%
Free Cash Flow	$1.3B	—	$2.3B	—	-43.6%

Revenue Flow

Item	Amount
REVENUE	$13.3B
Cost of Revenue	$6.7B
GROSS PROFIT	$6.6B
R&D Expenses	$941M
Selling & Marketing	$170M
General & Administrative	$405M
SG&A Expenses	$575M
Other Expenses	$0
Operating Expenses	$1.5B
Cost & Expenses	$8.2B
OPERATING INCOME	$5.0B
Interest Income	$53M
Interest Expense	$13M
Other Income/Expenses	$351M
INCOME BEFORE TAX	$5.4B
Income Tax Expense	$253M
Net Income from Continuing Ops	$5.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.1B
D&A	$2.8B
EBIT	$5.4B
EBITDA	$8.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$13.3B
Cost of Revenue	$6.7B
GROSS PROFIT	$6.6B
R&D Expenses	$941M
Selling & Marketing	$170M
General & Administrative	$405M
SG&A Expenses	$575M
Other Expenses	$0
Operating Expenses	$1.5B
Cost & Expenses	$8.2B
OPERATING INCOME	$5.0B
Interest Income	$53M
Interest Expense	$13M
Other Income/Expenses	$351M
INCOME BEFORE TAX	$5.4B
Income Tax Expense	$253M
Net Income from Continuing Ops	$5.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.1B
D&A	$2.8B
EBIT	$5.4B
EBITDA	$8.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$5.1B
Depreciation & Amortization	$2.8B
Stock-Based Compensation	$0
Deferred Income Tax	-$12M
Other Non-Cash Items	-$147M
Change in Working Capital	-$472M
OPERATING CASH FLOW	$7.3B
Capital Expenditure	-$6.0B
Acquisitions (Net)	-$198M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$19M
NET CASH FROM INVESTING	-$6.4B
Net Debt Issuance	$958M
Common Stock Repurchased	$0
Common Dividends Paid	-$2.5B
Other Financing Activities	-$37M
NET CASH FROM FINANCING	-$1.5B
FREE CASH FLOW	$1.3B
Net Change in Cash	-$741M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.7B
Short-Term Investments	$1.1B
Net Receivables	$1.4B
Inventory	$900M
Other Current Assets	$170M
TOTAL CURRENT ASSETS	$8.3B
PP&E (Net)	$12.3B
Goodwill	$181M
Intangible Assets	$191M
Long-Term Investments	$1.3B
Tax Assets	$233M
Other Non-Current Assets	$320M
TOTAL NON-CURRENT ASSETS	$14.5B
TOTAL ASSETS	$22.8B
Account Payables	$383M
Short-Term Debt	$996M
Deferred Revenue	$0
Other Current Liabilities	$555M
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$152M
Deferred Revenue NC	$25M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$340M
TOTAL NON-CURRENT LIABILITIES	$539M
TOTAL LIABILITIES	$4.4B
Common Stock	$8.2B
Additional Paid-In Capital	$1.8B
Retained Earnings	$8.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$204M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$18.2B
Minority Interest	$144M
TOTAL EQUITY	$18.3B
TOTAL LIABILITIES & EQUITY	$22.8B
Total Debt	$1.2B
Net Debt	-$3.5B