TSMC Reports Drop In December Sales

Taiwan Semiconductor Manufacturing Co Ltd TSM reported a decline in sales in December. TSMC reported a 9.4% y/y drop in unconsolidated sales. Its unconsolidated sales dropped to T$30.57 billion ($1.01 billion), from T$33.75 billion, in the year-ago period and down 13.2% versus T$35.22 billion in the prior month. TSMC's consolidated sales in the month declined 10.4% y/y to T$31.24 billion. However, sales gained 1.8% to $427.08 billion in the full year of 2011. TSMC shares closed at $13.38 yesterday.