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Major Board Resolution

2003 financial forecast release

TCC's board of directors today ratified the financial forecast for 2003. In accordance with TSE regulation, a company has to release its financial forecast for three consecutive years after the initial public listing. The 2003 financial forecast has been reviewed by Peter Lin and Morris Yang, CPA of Deloitte & Touche.
   
 
Balance Sheet
December 31, 2003
(In Thousand New Taiwan Dollars, Except Net Worth Per Share)

Forecast Historical Comparison
  2003 2002 2001
Current Assets 13,989,328 20,182,672 17,722,981
Funds and Investments 45,196,385 45,309,705 22,094,573
Fixed Assets 66,371,894 63,212,667 59,343,982
Intangible Assets 10,281,784 10,281,985 1,187
Other Assets 4,793,125 4,915,652 6,255,839
Current Liabilities 13,778,158 11,461,934 11,444,638
Long-term Liabilities 50,790,716 64,292,158 28,129,827
Other Liabilities 2,022,788 3,929,522 6,372,928
Capital Stock 47,991,970 45,026,835 37,664,190
Additional Paid-in Capital 5,145,024 3,004,199 2,537,463
Retained Earnings 23,367,361 18,967,825 19,367,013
Other Items -2,463,501 -2,779,792 -97,497
Total Assets 140,632,516 143,902,681 105,418,562
Total Liabilities 66,591,662 79,683,614 45,947,393
Minority Interest 0 0 0
Shareholders' Equity 74,040,854 64,219,067 59,471,169
Net Worth Per Share 15.43 14.26 15.79
 
   
 
Income Statement
Ended December 31, 2003
(In Thousand New Taiwan Dollars, Except Earnings Per Share)

Forecast Historical Comparison
  2003 2002 2001
Operating Revenue 50,502,029 46,617,085 48,811,979
Operating Costs 19,186,762 16,609,056 13,843,813
Gross Profit 31,315,267 30,008,029 34,968,166
Adjusted Items 0 0 0
Operating Expenses 15,679,476 14,863,671 17,174,655
Income from Operations 15,635,791 15,144,358 17,793,511
Non-operating Revenues 3,232,885 1,851,013 1,624,827
Non-operating Expenses 2,084,065 1,650,994 1,387,840
Income Before Tax 16,784,611 15,344,377 18,030,498
Income Tax Expense 1,368,011 479,713 1,280,026
Net Income 15,416,600 14,864,664 16,750,472
Earnings Per Share 3.34 3.31 4.56