TSMC racks up fourth consecutive sales increase in October

TSMC racks up fourth consecutive sales increase in October
HSINCHU, Taiwan -- Silicon foundry giant Taiwan Semiconductor Manufacturing Co. Ltd. here today reported its fourth consecutive sequential increase in monthly revenues with net sales in October growing 11.1% to NT$10.3 3 billion ($304 million) from NT$9.31 billion ($274 million) in September.

October's sequential sales growth backs up the belief that the foundry business is now rebounding slowly from the downturn's lowest point earlier this year. A company spokeswoman said TSMC's monthly sales hit bottom in May and June and revenues have steadily increased since then. In addition, October's sales total is the first time that TSMC's monthly revenues have exceeded NT$10 billion since March, she said.

However, TSMC's October sales were 40.8% below NT$17.46 billion ($514 million) in the same month last year. For the first 10 months of 2001, TSMC's net sales were 20.6% below the same period last year--NT$103.1 billion vs. NT$129.9 billion.

The world's largest silicon foundry company said it expects gradual growth to continue through the fourth quarter, resulting in improved operational performance from Q3. With its wafer fabs operating at a utilization rate of 41% in the third quarter, TSMC posted net sales of NT$26.94 billion and a net income of NT$1.24 billion (see Oct. 26 story).

Taiwan's second largest foundry, United Microelectronics Corp., is scheduled to release its October sales figures within the next few days.