TSM FY 2011 Earnings Report — Taiwan Semiconductor Manufacturing Company Limited Revenue & Financial Results | Market Cap Arena

Taiwan Semiconductor Manufacturing Company LimitedTSM

FY 2011 Earnings

Reported April 13, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$13.5B	—	$13.3B	—	1.8%
Op. Income	$4.5B	—	$5.0B	—	-11.1%
Gross Margin	45.4%	—	49.4%	—	-3.9pp
Net Margin	31.4%	—	38.5%	—	-7.1pp
EPS (Diluted)	$0.82	—	$1.04	—	-20.8%
Free Cash Flow	$1.1B	—	$1.3B	—	-17.4%

Revenue Flow

Item	Amount
REVENUE	$13.5B
Cost of Revenue	$7.4B
GROSS PROFIT	$6.1B
R&D Expenses	$1.1B
Selling & Marketing	$143M
General & Administrative	$449M
SG&A Expenses	$592M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$9.0B
OPERATING INCOME	$4.5B
Interest Income	$47M
Interest Expense	$20M
Other Income/Expenses	$114M
INCOME BEFORE TAX	$4.6B
Income Tax Expense	$339M
Net Income from Continuing Ops	$4.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.3B
D&A	$3.4B
EBIT	$4.6B
EBITDA	$8.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$13.5B
Cost of Revenue	$7.4B
GROSS PROFIT	$6.1B
R&D Expenses	$1.1B
Selling & Marketing	$143M
General & Administrative	$449M
SG&A Expenses	$592M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$9.0B
OPERATING INCOME	$4.5B
Interest Income	$47M
Interest Expense	$20M
Other Income/Expenses	$114M
INCOME BEFORE TAX	$4.6B
Income Tax Expense	$339M
Net Income from Continuing Ops	$4.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.3B
D&A	$3.4B
EBIT	$4.6B
EBITDA	$8.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$4.3B
Depreciation & Amortization	$3.4B
Stock-Based Compensation	$0
Deferred Income Tax	-$16M
Other Non-Cash Items	$72M
Change in Working Capital	$124M
OPERATING CASH FLOW	$7.8B
Capital Expenditure	-$6.8B
Acquisitions (Net)	$22M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	$199M
NET CASH FROM INVESTING	-$5.8B
Net Debt Issuance	$438M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$2.5B
Other Financing Activities	-$130M
NET CASH FROM FINANCING	-$2.1B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$140M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.5B
Short-Term Investments	$246M
Net Receivables	$1.5B
Inventory	$787M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.1B
PP&E (Net)	$15.5B
Goodwill	$180M
Intangible Assets	$164M
Long-Term Investments	$1.1B
Tax Assets	$430M
Other Non-Current Assets	$184M
TOTAL NON-CURRENT ASSETS	$17.6B
TOTAL ASSETS	$24.7B
Account Payables	$1.5B
Short-Term Debt	$966M
Deferred Revenue	$0
Other Current Liabilities	$449M
TOTAL CURRENT LIABILITIES	$4.0B
Long-Term Debt	$620M
Deferred Revenue NC	$14M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$206M
TOTAL NON-CURRENT LIABILITIES	$868M
TOTAL LIABILITIES	$4.8B
Common Stock	$8.2B
Additional Paid-In Capital	$1.8B
Retained Earnings	$10.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$241M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$19.8B
Minority Interest	$77M
TOTAL EQUITY	$19.9B
TOTAL LIABILITIES & EQUITY	$24.7B
Total Debt	$1.6B
Net Debt	-$2.9B