(Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)
Except for Per Share Amounts and Shares Outstanding)
1Q 2009 4Q 2008
USD NTD % NTD %
Net Sales $1,164 $39,500 100.0 $64,562 100.0
Cost of Sales (943) (32,020) (81.1) (44,367) (68.7)
Gross Profit 221 7,480 18.9 20,195 31.3
Operating Expenses
Research and Development
Expenses (110) (3,729) (9.4) (4,826) (7.5)
General and Administrative
Expenses (47) (1,595) (4.0) (2,285) (3.5)
Sales and Marketing Expenses (28) (947) (2.4) (1,062) (1.7)
Total Operating Expenses (185) (6,271) (15.9) (8,173) (12.7)
Income from Operations 36 1,209 3.1 12,022 18.6
Non-Operating Income, Net 10 353 0.9 1,412 2.2
Investment Gains (Loss) (24) (813) (2.1) (340) (0.5)
Income before Income Tax 22 749 1.9 13,094 20.3
Income Tax Benefits (Expenses) 22 739 1.9 (452) (0.7)
Net Income 44 1,488 3.8 12,642 19.6
Minority Interests 2 71 0.1 (196) (0.3)
Net Income Attributable to
Shareholders of
the Parent 46 1,559 3.9 12,446 19.3
Earnings per Share - Diluted $0.00 $0.06 -- $0.48 --
Earnings per ADR - Diluted (2) $0.01 $0.30 -- $2.42 --
Weighted Average Outstanding
Shares - Diluted ('M) (3) -- 25,792 -- 25,655 --
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES
Unaudited Consolidated Condensed Income Statements
For the Three Months Ended March 31, 2009, December 31, 2008, and
March 31, 2008
(Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)
Except for Per Share Amounts and Shares Outstanding)
(Continued)
1Q 2008 QoQ YoY
NTD % Amount % Amount %
Net Sales $87,480 100.0 ($25,062) (38.8) ($47,980) (54.8)
Cost of Sales (49,241) (56.3) 12,347 (27.8) 17,221 (35.0)
Gross Profit 38,239 43.7 (12,715) (63.0) (30,759) (80.4)
Operating Expenses
Research and
Development
Expenses (5,270) (6.0) 1,097 (22.7) 1,541 (29.2)
General and
Administrative
Expenses (2,662) (3.0) 690 (30.2) 1,067 (40.1)
Sales and Marketing
Expenses (1,184) (1.4) 115 (10.8) 237 (20.0)
Total Operating
Expenses (9,116) (10.4) 1,902 (23.3) 2,845 (31.2)
Income from
Operations 29,123 33.3 (10,813) (89.9) (27,914) (95.8)
Non-Operating Income,
Net 1,872 2.1 (1,059) (75.1) (1,519) (81.2)
Investment Gains
(Loss) 577 0.7 (473) 138.6 (1,390) (240.7)
Income before Income
Tax 31,572 36.1 (12,345) (94.3) (30,823) (97.6)
Income Tax Benefits
(Expenses) (3,336) (3.8) 1,191 (263.5) 4,075 (122.2)
Net Income 28,236 32.3 (11,154) (88.2) (26,748) (94.7)
Minority Interests (93) (0.1) 267 (136.3) 164 (176.8)
Net Income
Attributable to
Shareholders of
the Parent 28,143 32.2 (10,887) (87.5) (26,584) (94.5)
Earnings per Share -
Diluted $1.08 -- ($0.42) (87.5) ($1.02) (94.4)
Earnings per ADR -
Diluted (2) $5.38 -- ($2.12) (87.5) ($5.08) (94.4)
Weighted Average
Outstanding Shares -
Diluted ('M) (3) 26,167 -- -- -- -- --
Note:
(1) Amounts in New Taiwan dollars have been translated into U.S.
dollars at the weighted average rate of NTD 33.922 for the first
quarter of 2009.
(2) 1 ADR equals 5 ordinary shares.
(3) Total diluted weighted average outstanding shares were 26,167M
shares for 1Q08 after the retroactive adjustments for stock dividends
and stock bonus.
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES
Consolidated Condensed Statements of Cash Flows
For The Three Months Ended March 31, 2009, December 31, 2008, and
March 31, 2008 
