TSM [TAIWAN SEMICONDUCTOR MANUFACTURING CO] 6-K: Taiwan Semiconductor Manufacturing Company Ltd. By Lora Ho

Ticker: TSM, Company: TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD, Type: 6-K, Date: 2019-07-18
Original SEC Filing: Click here


Webplus: TSM/20190718/6-K/1/000.htm SEC Original: d779506d6k.htm
Taiwan Semiconductor Manufacturing Company Ltd. By Lora Ho Senior Vice President & Chief Financial Officer TSMC Reports Second Quarter EPS of NT$2.57 Hsinchu, Taiwan, R.O.C., July 18, 2019 — Year-over-year, second quarter revenue increased 3.3% while net income and diluted EPS both decreased 7.6%. Compared to first quarter 2019, second quarter results represented a 10.2% increase in revenue and an



6-K 1 d779506d6k.htm FORM 6-K


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Taiwan Semiconductor Manufacturing Company Ltd.
Date: July 18, 2019 By

/s/ Lora Ho

Lora Ho
Senior Vice President & Chief Financial Officer


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TSMC Reports Second Quarter EPS of NT$2.57

Hsinchu, Taiwan, R.O.C., July 18, 2019 —TSMC today announced consolidated revenue of NT$241.00 billion, net income of NT$66.77 billion, and diluted earnings per share of NT$2.57 (US$0.41 per ADR unit) for the second quarter ended June 30, 2019.

Year-over-year, second quarter revenue increased 3.3% while net income and diluted EPS both decreased 7.6%. Compared to first quarter 2019, second quarter results represented a 10.2% increase in revenue and an 8.7% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, second quarter revenue was $7.75 billion, which decreased 1.4% year-over-year and increased 9.2% from the previous quarter.

Gross margin for the quarter was 43.0%, operating margin was 31.7%, and net profit margin was 27.7%.

In the second quarter, shipments of7-nanometer accounted for 21% of total wafer revenue and10-nanometer process technology contributed 3% while16-nanometer accounted for 23%. Advanced technologies, defined as16-nanometer and more advanced technologies, accounted for 47% of total wafer revenue.

“In the second quarter, our business continued to be impacted by the soft overall global economic condition; customer inventory management; andhigh-end mobile product seasonality. But we have also passed the bottom of the cycle of our business and began to see demand increases,” said Lora Ho, SVP and Chief Financial Officer of TSMC. “Driven by new product launches of premium smartphones; the acceleration of 5G deployment; and the increasing adoption of our industry-leading7-nanometer solutions by High Performance Computing applications, we expect our third quarter business to further improve. Based on our current business outlook, management expects the overall performance for third quarter 2019 to be as follows”:

Revenue is expected to be between US$9.1 billion and US$9.2 billion;

And, based on the exchange rate assumption of 1 US dollar to 31.0 NT dollars,

Gross profit margin is expected to be between 46% and 48%;

Operating profit margin is expected to be between 35% and 37%

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TSMC’s 2019 second quarter consolidated results:

(Unit: NT$ million, except for EPS)

2Q19
Amounta
2Q18
Amount
YoY
Inc. (Dec.) %
1Q19
Amount
QoQ
Inc. (Dec.) %

Net sales

240,999 233,276 3.3 218,704 10.2

Gross profit

103,730 111,530 (7.0 ) 90,358 14.8

Income from operations

76,304 84,428 (9.6 ) 64,266 18.7

Income before tax

80,545 87,587 (8.0 ) 68,182 18.1

Net income

66,765 72,290 (7.6 ) 61,394 8.7

EPS (NT$)

2.57 b 2.79 b (7.6 ) 2.37 b 8.7

a: 2Q2019 figures have not been approved by Board of Directors

b: Based on 25,930 million weighted average outstanding shares

About TSMC

TSMC pioneered the pure-play foundry business model when it was founded in 1987, and has been the world’s largest dedicated semiconductor foundry ever since. The company supports a thriving ecosystem of global customers and partners with the industry’s leading process technology and portfolio of design enablement solutions to unleash innovation for the global semiconductor industry.

TSMC serves its customers with annual capacity of about 12 million12-inch equivalent wafers in 2019 from fabs in Taiwan, the United States, and China, and provides the broadest range of technologies from 0.5 micron plus all the way to foundry’s most advanced processes, which is7-nanometer today. TSMC is the first foundry to provide7-nanometer production capabilities, and is headquartered in Hsinchu, Taiwan. For more information about TSMC please visithttp://www.tsmc.com.

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TSMC Spokesperson:

Lora Ho

Senior VP & CFO

Tel:886-3-505-4602

TSMC Acting Spokesperson:

Elizabeth Sun

Senior Director

Corporate Communications Division

Tel:886-3-568-2085

Mobile:886-988-937-999

E-Mail: elizabeth_sun@tsmc.com

For Further Information:

Michael Kramer

Project Manager

Tel:886-3-563-6688

Ext. 7125031

Mobile:886-988-931-352

E-Mail: pdkramer@tsmc.com

Hui-Chung Su

Senior Administrator

PR Department

Tel:886-3-563-6688

Ext. 7125033

Mobile:886-988-930-039

E-Mail: hcsuq@tsmc.com

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Company Info:

Ticker: TSM, Company: TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD, Type: 6-K, Date: 2019-07-18CIK: 0001046179, Location: F5, SIC: 3674, SIC Desc: SEMICONDUCTORS & RELATED DEVICES
Business Phone & Address:
NO. 8, LI-HSIN ROAD 6, SCIENCE-BASED INDUSTRIAL PARK
HSINCHU, F5

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