Looks like the earthquake had a significant impact.
TSMC 1Q16 profits fall 18%
Apr 14, 15:52
Jessie Shen, DIGITIMES, Taipei [Thursday 14 April 2016]
Pure-play foundry Taiwan Semiconductor Manufacturing Company (TSMC) has announced net profits of NT$64.78 billion (US$2 billion) on consolidated revenues of NT$203.50 billion for the first quarter of 2016. Profits and revenues for the quarter represented decreases of 18% and 8.3%, respectively, compared to the same period in 2015.
Compared to fourth-quarter 2015, TSMC's revenues were flat while profits represented an 11.1% decline. Net EPS for first-quarter 2016 came to NT$2.50 compared with NT$2.81 in the prior quarter and NT$3.05 a year ago.
TSMC's gross margin, operating margin and net profit margin reached 44.9%, 34.6% and 31.8%, respectively, in the first quarter of 2016, which all came in line with the company's estimates. "The February 6 earthquake negatively impacted TSMC's gross margin by 2.2pp and operating margin by 2.4pp," the company said.
Shipments of 16/20nm accounted for 23% of TSMC's total wafer revenues in the first quarter of 2016, the company disclosed. Advanced technologies, defined as 28nm and more advanced technologies, accounted for 53% of the foundry's total wafer revenues in the first quarter compared with 49% in the prior quarter and 46% a year earlier.
"Although the February 6 earthquake caused some delay in wafer shipments in the first quarter, we saw business upside resulting from demand increases in mid- and low-end smartphone segments and customer inventory restocking," said Lora Ho, SVP and CFO of TSMC. "We expect our business in the second quarter will benefit from continued inventory restocking and recovery of the delayed shipments from the earthquake."
TSMC expects to post revenues of between NT$215 billion and NT$218 billion in the second quarter of 2016, with gross margin and operating margin reaching 49-51% and 38.5-40.5%, respectively.
TSMC's planned capex budget for 2016 of US$9-10 billion remains unchanged.
digitimes.com |
