(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