The foundry giant yesterday reported fourth quarter revenues of NTD 57.8bn ($1.7bn), up 40.4% on the year. Operating income was up 194.2% to NTD16.6bn ($489m), while net income was NTD16bn ($471m), a rise of 526.9%.
The key revenue drivers in the fourth quarter were comms, particularly wireless. There was a seasonal decline in demand for computer and consumer applications.
In the first quarter, TSMC expects a low single digit increase in wafer shipments, with a slight decline in ASPs. Demand should continue to improve in communications, remaining flat in the consumer segment, and seasonally down in computers.
TSMC appeared to push the bounds of mathematics, saying overall utilization should be 100% or slightly higher.
In good news for makers of chip building gear, the company said it will spend big on new plant this year. It expects capital expenditure to be $2bn in 2004, compared to 2003’s $1.1bn.
For the full year, revenues were up 25.4% to NTD 201bn ($5.7bn), while net income was NTD 47.3bn ($1.4bn) a rise of 118.7%.
This article is based on material originally published by ComputerWire
