Ram,
Look at TSMC price jump today!!
This is significant because TSMC is a major
foundry for all ESS's product.
Although UMC is another one for ESS. UMC
is doing good business as well. UMC
president announced yesterday they are going
to spend several hundreds of millions to buy
new semiconductor manufacturing equipments...
Steve
*******************************************
Friday January 8, 12:14 am Eastern Time
Taiwan Semicon '98 sales up 14.3 pct y/y
TAIPEI, Jan 8 (Reuters) - Microchip powerhouse Taiwan Semiconductor Manufacturing Co
said on Friday its 1998 net profit suffered a modest decline even as sales rose, but forecast
better sales and profits in 1999.
Taiwan Semiconductor, a global leader in made-to-order ''foundry'' chipmaking, said its 1998 sales rose 14.3 percent to
T$50.233 billion, compared to T$43.936 billion in 1997.
The firm estimated its 1998 net profits at T$15.34 billion (US$477 million), a 14.6 percent decline compared to T$17.96 billion
in 1997.
Taiwan Semiconductor issued the preliminary results in a statement after the close of Friday stock trading.
Taiwan Semicon stock closed on Friday at T$76, up T$1.
For December alone, Taiwan Semiconductor posted sales of T$3.459 billion, down 35.5 percent compared to T$5.36 billion
in December 1997, it said.
Taiwan Semiconductor said the worldwide microchip market will have taken a 10 percent hit in 1998, but said Taiwan Semicon
remained competitive.
''The fact that Taiwan Semiconductor recorded 14.3 percent sales growth in 1998 shows the strong competitive advantages of
the company,'' it said.
The firm expects to perform well in 1999.
''Our company's booking volume in December reached a monthly record high,'' spokesman Y.C. Huang said in the statement.
''It is expected that Taiwan Semiconductor's 1999 sales and profits would outperform those of 1998.''
The 1998 figures have not been audited, it said.
Taiwan Semiconductor also lists American Depositary Receipts (NYSE:TSM - news) in Wall Street.
(US$=T$32.2) |
