TSMC saw wafer sales slide quarter-on-quarter during the first three months of 2003, but achieved a modest increase over the same period last year.

During Q1 2003, TSMC achieved net income of NT$4.36 billion on sales of NT$39.33 billion. Sales were up 9.9 per cent on Q1 2002's NT$35.79 billion, but income was well down (33 per cent) on the year-ago quarter's NT$6.59 billion.

Comparing the latest results with the previous quarter the reverse is true: sales are down, but income is up. Q4 2002 saw net income of NT$2.55 billion on sales of $NT41.15 billion, for quarter-on-quarter changes of 70.7 per cent and -4.4 per cent, respectively.

Revenues fell between Q4 2002 and Q1 2003 because of a seven per cent dip in average selling prices, TSMC said. That reduction was partially offset by a two per cent increase in wafer shipments.

TSMC reckons it has seen the worst - Q1 2003 represents the bottom of the latest trough, and that sales have begun to grow again. Revenues derived from sales of 0.13 micron parts increased to 11 per cent of totals sales during Q1 2003, up from eight per cent in Q4 2002, a trend TSMC expects to continue. Then again, given some of the bad publicity its 0.13 micron process has gained, rightly or wrongly, that's a point the company needs to stress,

Looking ahead, the company said it expects its operating performance to increase during Q2 2003. ®

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