TSMC has announced net profits of NT$72.84 billion (US$2.18 billion) on consolidated revenues of NT$203.52 billion for the fourth quarter of 2015. EPS for the quarter was NT$2.81 (US$0.43 per ADR unit).

TSMC's net profits and revenues for fourth-quarter 2015 represented decreases of 8.9% and 8.5%, respectively, from a year earlier. Compared to third-quarter 2015, fourth quarter results showed decreases of 4.2% in revenues and 3.3% in profits.

In US dollars, TSMC's revenues for fourth-quarter 2015 were US$6.24 billion, which decreased 6.4% from the previous quarter and 13.7% on year.

TSMC's gross margin, operating margin and net profit margin came to 48.6%, 38.3% and 35.8%, respectively, in the fourth quarter of 2015.

Shipments of 16/20nm accounted for 24% of TSMC's total wafer revenues in the fourth quarter of 2015, the company disclosed. Advanced technologies, defined as 28nm and more advanced technologies, accounted for 49% of the foundry's total wafer revenues.

"In the fourth quarter, the ramp of 16-nanometer technologies accelerated according to plan," said Lora Ho, SVP and CFO of TSMC. "While the China smartphone market shows signs of recovery, customers remain cautious in general."

TSMC expects to post revenues of between NT$198 billion and NT$201 billion in the first quarter of 2016, with gross margin and operating margin reaching 47-49% and 36.5-38.5%, respectively.

In addition, TSMC has set aside a capex budget of US$9-10 billion for 2016.