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To: Johnny Canuck who wrote (41135)	4/28/2004 1:59:34 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69866

TSMC's booming Q1 profit revealed after mistake Peter Clarke 04/27/2004 7:09 AM EST URL: siliconstrategies.com. HSINCHU, Taiwan -- After parts of the first quarter financial results of foundry Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) were disclosed to the Taiwan Stock Exchange ahead of schedule by mistake, the company has published its full Q1 results revealing booming profits on sequentially flat sales. The results show that the company made a net income of NT$18,789 million (about US$570 million) on sales of NT$57,513 million (about US$1.74 billion). The income was more than four times the NT$4,180 million (about US$125 million) profit made in the year-ago period and up 17.4 percent on the NT$16,002 million (about US$485 million) made in the previous quarter. Sales for the first quarter were down 0.5 percent from NT$57,780 (about US$1.75 billion) in the fourth quarter of 2003, the flatness beating a conventional seasonal pause. Compared with sales in the same quarter a year before of NT$39,325 million (about US$1.19 billion) TSMC's Q1 2004 sales were up 46.2 percent. The booming profits were thought to be due to TSMC ramping prices as the market becomes under-supplied due to demand increasing faster than capacity can be added. However, TSMC provided no commentary on the results. The figures were released three days ahead of schedule after TSMC's auditors Deloitte & Touche mistakenly uploaded part of TSMC's financial statements for Q1 2004 to the Market Observation Post System of the Taiwan stock exchange. Chinese competitor Semiconductor Manufacturing International Corp. posted a US$8.6 million net profit on revenues of US$186.9 million in the first quarter of 2004 on Monday (April 26). Singaporean foundry Chartered Semiconductor Manufacturing Ltd. reported an unexpected profit of US$1.9 million on sales of US$228.4 million in the first quarter of 2004 on Thursday (April 22) ending a sequence of quarterly losses going back to 2000.