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TSMC increases capital spending to US$2.3 billion
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As expected, TSMC saw demand rebound strongly in the second quarter of 2009. The foundry said that revenue increased by 87.9%, compared to the first quarter and an increase of 1467.9% in net income and an increase of 1466.5% in diluted EPS. TSMC expects further growth into the third quarter on the back of new product introductions and continued restocking by customers, particularly from fabless companies, according to the company.
"Due to improved demand outlook for 2010 and a more aggressive technology strategy, TSMC 2009 capital expenditure is expected to be above both the 2008 expenditure of US$1.9 billion and the previously guided US$1.5 billion, and is expected to be around US$2.3 billion," noted Lora Ho, VP and Chief Financial Officer of TSMC.
TSMC noted that revenue from 45/40nm exceeded 1% of total wafer sales in 2Q09, with wafer shipments tripling those of 1Q. Its 65nm and 90nm technology amounted to 28% and 23% respectively of total wafer sales.
Capital expenditures for TSMC were US$224 million in 2Q09, up from US$166 million in 1Q09. This means that TSMC will be spending approximately US$1.9 billion on capital equipment during the second-half of 2009.
