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TSMC's 28-nanometer process pays off as it rakes in $1.68 billion profit in Q3

Daniel Cooper, @danielwcooper
October 25, 2012
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Everything is relative, so when a chip foundry like TSMC (which produces gear for the likes of NVIDIA) has a bad quarter, that means it only made a $1 billion in profit. Today's numbers reveal that the company has managed to rescue its halting fortunes after turning over $4.8 billion and making a tidy $1.68 billion in profit. The cause of this upswing was that orders for its coveted 28-nanometer process doubled in the period -- repaying some of the $8.5 billion spent developing it and keeping profits just a little over that of its close pal, Qualcomm.

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TSMC Reports Third Quarter EPS of NT$1.90

Issued by: TSMC
Issued on: 2012/10/25

Hsinchu, Taiwan, R.O.C., October 25, 2012 -- TSMC today announced consolidated revenue of NT$141.38 billion, net income of NT$49.30 billion, and diluted earnings per share of NT$1.90 (US$0.32 per ADR unit) for the third quarter ended September 30, 2012.

Year-over-year, third quarter revenue increased 32.8% while both net income and diluted EPS increased 62.2%. Compared to second quarter of 2012, third quarter of 2012 results represent a 10.4% increase in revenue, and a 17.9% increase in both net income and diluted EPS. All figures were prepared in accordance with R.O.C. GAAP on a consolidated basis.

In US dollars, third quarter revenue increased 9.5% from the previous quarter and increased 29.5% year-over-year.

Gross margin for the quarter was 48.8%, operating margin was 37.2%, and net margin was 34.9%.

Shipments of 28-nanometer process technology more than doubled during the quarter and accounted for 13% of total wafer revenues. 40-nanometer accounted for 27% of total wafer revenues, and 65-nanometer was 22%. These advanced technologies accounted for 62% of total wafer revenues.

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