TSMC today announced consolidated revenue of NT$105.51 billion, net income of NT$33.47 billion, and diluted earnings per share of NT$1.29 (US$0.22 per ADR unit) for the first quarter ended March 31, 2012. Year-over-year, first quarter revenue increased 0.1% while both net income and diluted EPS decreased 7.7%. Compared to fourth quarter of 2011, first quarter of 2012 results represent a 0.8% increase in revenue, and a 6% increase in both net income and diluted EPS. All figures were prepared in accordance with R.O.C. GAAP on a consolidated basis. In US dollars, first quarter revenue increased 2.7% from the previous quarter and decreased 1.3% year-over-year. Gross margin for the quarter was 47.7%, operating margin was 33.6%, and net margin was 31.7%. 28-nanometer process technology accounted for 5% of total wafer revenues, 40-nanometer was 32%, and 65-nanometer accounted for 26%. These advanced technologies accounted for 63% of total wafer revenues. Revenue is expected to be between NT$126 billion and NT$128 billion; Gross profit margin is expected to be between 47% and 49%; Operating profit margin is expected to be between 34.5% and 36.5%. Due to stronger demand for TSMC’s 28-nanometer technology and the pull-in of a 20-nanometer R&D process line, our estimate for 2012 capital expenditure is raised and is in the US$8-8.5 billion range.