TSMC expects next year to be a record year

HSINCHU, TAIWAN; At TSMC's third quarter investors' conference on October 29, TSMC Chairman Dr. Morris Chang commented that, "For TSMC, we expect next year to be a record year."

TSMC Spokesperson and Chief Financial Officer Ms. Lora Ho provides additional detail regarding this statement.

"Setting a record year in 2010 is TSMC's internal target and should not be viewed as a financial forecast," said Ms. Ho.

"What Chairman Chang has referred to as TSMC's profit record was the net profit set in 2006. However, he has also indicated internally that this profit goal will be adjusted by employee profit sharing expensing, which is currently 15 percent of net income. Using 2006 net income of NT$127 billion, the profit record that TSMC aims to break in 2010 will be NT$108 billion."