Taiwanese semiconductor manufacturer TSMC has released its financial report for the fourth quarter of 2008, in which it states the company made about NTD64.56 billion revenue in the period with net profit of NTD12.45 billion.

Compared with the same period of 2007, TSMC's revenue decreased by 31.2% while its net profits decreased by 63.9%. Compared with the third quarter of 2008, TSMC's revenue decreased by 30.6% while its net profits decreased by 59.3%.

Because of the further effect of the global financial crisis, the demands for chips greatly declined in the fourth quarter of 2008. In the period concerned, TSMC's gross profit rate was 31.3%, operating profit rate was 18.6% and net profit rate was 19.3%.

Lora Ho, vice president, chief financial officer and spokesperson of TSMC, said the world's economic situation continues to worsen. According to the evaluation of the current business situation, TSMC expects that in the first quarter of 2009, the company's revenue will be between NTD32 billion to NTD35 billion; its gross profit rate will be between 1% to 5%; and its operating profit rate will be between -19% and -15%.

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