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TSMC achieves Q4 sales target
Central News Agency
2014-01-10 06:44 PM
Taipei, Jan. 10 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chip maker, said Friday that the company achieved its sales target for the fourth quarter of last year after it witnessed a sales recovery in December. In a statement, TSMC said it posted NT$145.81 billion (US$4.86 billion) in consolidated sales for the October-December period, down 10.3 percent from a quarter earlier, in reflection of slow-season effects in the global semiconductor business. However, the fourth-quarter sales were in line with the company's guidance, which predicted that the quarter's revenue would range between NT$144 billion and NT$147 billion, down 9.6-11.4 percent from a quarter earlier. TSMC's consolidated sales for November fell 14.4 percent from a month earlier to a low of NT$44.33 billion not seen since March last year, and the month-on-month drop was worse than a market estimate of a 10 percent decline. As a result, there had been some concerns that the chip maker would fail to hit its fourth-quarter sales goal in a traditionally slow season. The chip maker, however, posted NT$49.68 billion in consolidated sales for December, up 12.1 percent from a month earlier and up 33.7 percent annually, on the back of a recovery in demand for chips made on the advanced 28 nanometer process, helping the chip maker achieve the target, analysts said. For the whole year, TSMC's consolidated sales totaled NT$597.02 billion, up 17.8 percent from 2012, to hit a record high in reflection of strong demand for chips. Before the release of the fourth-quarter sales, shares of TSMC rose 0.99 percent to close at NT$102.00 on the Taiwan Stock Exchange after the stock staged a technical rebound from a plunge seen a session earlier. TSMC shares tumbled 2.88 percent Thursday amid rumors that TSMC Chairman Morris Chang had died. Appearing before reporters later in the day, however, Chang asked the media to post a large-sized photo of him to prove his good health. As the rumors about Chang's health impacted market orders, Tseng Ming-chung, head of the Financial Supervisory Commission (FSC), said the FSC has instructed the TWSE to find out where the speculation might have come from. Meanwhile, rival United Microelectronics Corp. (UMC) said it posted NT$30.72 billion in consolidated sales for the fourth quarter, down 8.04 percent from a quarter earlier. The sales data was also in line with the company's expectations, which took slow-season effects into account. In 2013, UMC's consolidated sales rose 7.03 percent from a year earlier to NT$123.81 billion. (By Jackson Chang, Kao Chao-fen and Frances Huang)
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