To: Mephisto who wrote (34757 ) 4/11/2000 2:22:00 PM From: Ian@SI Read Replies (1) | Respond to of 70976
In BK's absence, here's a must read story...semibiznews.com ++++++++++++++ TSMC foresees record sales, earnings in 2000 By Faith Hung Electronic Buyers' News (04/11/00, 11:58:22 AM EDT) HSINCHU, Taiwan -- Citing strong demand for its foundry business, Taiwan Semiconductor Manufacturing Co. Ltd. is projecting record sales and earnings this year. Morris Chang, chairman of TSMC, said in an interview with EBN that the company expects its profits and sales will more than double over 1999. TSMC is already getting off to a flying start. For the first three months of this year, sales were about $912.3 million, an increase of 126% from the year-ago period. The company is scheduled to announce its first-quarter earnings April 20. Last year, net profits for TSMC totaled $811 million, while sales were $2.4 billion. "We're seeing a solid upturn into the next few years for the foundry industry," said Alfred Yin, analyst with Primasia Securities Co. in Taipei. "Companies like TSMC are benefiting as they expand capacity and raise average selling prices [for wafers]." TSMC is improving its financial position as a result of global chip growth, spurred by higher demand for products such as PCs and networking equipment. It is also experiencing large demand from integrated device manufacturers like Motorola Inc., which are outsourcing more of their semiconductor production. Chang said TSMC's total capacity will hit 3.4 million 8-inc.-equivalent wafers this year, following its acquisitions of Acer Semiconductor Manufacturing and Worldwide Semiconductor Manufacturing. United Microelectronics Corp. -- TSMC's closest rival -- is set to increase its capacity to 2.4 million wafers this year.