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Chartered Updates Guidance For Third Quarter
SINGAPORE -- September 7, 2009 -- Today, in a mid-quarter update, Chartered Semiconductor Manufacturing Ltd. (Nasdaq: CHRT and SGX-ST: CHARTEREDSC) revised its third quarter 2009 guidance, which was originally provided on July 24, 2009.
“Compared to our expectation in July, we are seeing incremental improvement in our business, mainly coming from our mature technologies. Therefore, we are now revising our revenue guidance upward. Based on the mid-point of our revised guidance for revenues including our share of SMP revenues, wafer shipments are now expected to increase approximately 24 percent compared to second quarter of 2009. In line with higher revenues, we expect net loss to improve approximately $18 million compared to our previous guidance,” said George Thomas, senior vice president & CFO of Chartered.
Chartered plans to release its third quarter 2009 results on Friday, October 23, 2009, Singapore time, before the Singapore market opens. Chartered’s original guidance for third quarter 2009 was published in the Company’s second quarter 2009 earnings release dated July 24, 2009, which can be found on Chartered’s Web site at www.charteredsemi.com, under Investor Relations, Earnings Releases section.
The revised outlook for third quarter 2009 is as follows:
About Chartered
Chartered Semiconductor Manufacturing Ltd. (Nasdaq: CHRT, SGX-ST: CHARTEREDSC), one of the world’s top dedicated semiconductor foundries, offers leading-edge technologies down to 40/45 nanometer (nm), enabling today’s system-on-chip designs. The company further serves its customers’ needs through a collaborative, joint development approach on a technology roadmap that extends to 22nm. Chartered’s strategy is based on open and comprehensive design enablement solutions, manufacturing enhancement strategies, and a commitment to flexible sourcing. In Singapore, the company operates a 300mm fabrication facility and five 200mm facilities. Information about Chartered can be found at www.charteredsemi.com.
“Compared to our expectation in July, we are seeing incremental improvement in our business, mainly coming from our mature technologies. Therefore, we are now revising our revenue guidance upward. Based on the mid-point of our revised guidance for revenues including our share of SMP revenues, wafer shipments are now expected to increase approximately 24 percent compared to second quarter of 2009. In line with higher revenues, we expect net loss to improve approximately $18 million compared to our previous guidance,” said George Thomas, senior vice president & CFO of Chartered.
Chartered plans to release its third quarter 2009 results on Friday, October 23, 2009, Singapore time, before the Singapore market opens. Chartered’s original guidance for third quarter 2009 was published in the Company’s second quarter 2009 earnings release dated July 24, 2009, which can be found on Chartered’s Web site at www.charteredsemi.com, under Investor Relations, Earnings Releases section.
The revised outlook for third quarter 2009 is as follows:
About Chartered
Chartered Semiconductor Manufacturing Ltd. (Nasdaq: CHRT, SGX-ST: CHARTEREDSC), one of the world’s top dedicated semiconductor foundries, offers leading-edge technologies down to 40/45 nanometer (nm), enabling today’s system-on-chip designs. The company further serves its customers’ needs through a collaborative, joint development approach on a technology roadmap that extends to 22nm. Chartered’s strategy is based on open and comprehensive design enablement solutions, manufacturing enhancement strategies, and a commitment to flexible sourcing. In Singapore, the company operates a 300mm fabrication facility and five 200mm facilities. Information about Chartered can be found at www.charteredsemi.com.
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