Science-Based Industrial Park, Hsinchu, Taiwan, October 19, 2000 - Taiwan Semiconductor Manufacturing Company Ltd. (TAIEX: 2330, NYSE: TSM), (“TSMC” or the “Company”) today announced its reviewed financial results for the third quarter of 2000. Net sales for the third quarter of 2000 amounted to NT$47,491 million, net income totaled NT$20,058 million, and earnings per share were NT$1.74 based on 11,303.1 million weighted average outstanding shares.
For the nine months ended September 30, 2000, the Company's net sales were NT$112,407 million and net income was NT$43,633 million. With a total of 11,303.1 million weighted average outstanding shares, earnings per share for the first nine months of 2000 were NT$3.86. These financial results all outperformed TSMC's internal forecasts.
Ms. K. C. Chen, TSMC spokesperson, stated that since demand continues to surpass supply for the global dedicated foundry market, the Company’s monthly capacity utilization rate exceeded 100 percent throughout the third quarter of 2000. The Company's third quarter wafer shipments reached another new record high of 942,000 eight-inch equivalent wafers. In addition, TSMC's sales from 0.25 and 0.18-micron wafers and beyond have continued to increase and already account for 45% of the Company's third quarter 2000 sales. Following completion of the mergers of TASMC and WSMC, TSMC's gross margin as a percentage of sales improved to 47.1% in the third quarter of 2000 from 43.2% in the second quarter of 2000. Excluding the impact of joint ventures, the gross margin for TSMC's own production facilities (Fab1 to Fab 8) reached 53.2%.
TSMC's third quarter 2000 sales and net income both set historical highs. Compared to the second quarter of 2000, the Company's net sales and net income for the third quarter of 2000 grew 49.3% and 50.3%, respectively. The Company's third quarter 2000 sales and net income increased 141.0% and 226.8%, respectively, over the corresponding period of 1999.