Chartered Updates Guidance for Fourth Quarter

MILPITAS, Calif.—(BUSINESS WIRE)—December 11, 2008— Today, in its scheduled mid-quarter update, Chartered Semiconductor Manufacturing Ltd. (Nasdaq: CHRT) (SGX-ST: CHARTERED) updated its fourth quarter 2008 guidance, which was originally provided on October 31, 2008.

“As the quarter is progressing, we are seeing some of our customers postponing their deliveries due to, what we believe are, weaker market conditions and their intent to keep inventories low. We are therefore revising our outlook for the fourth quarter. Due to the uncertain business environment that continues to cloud our business visibility, we are aggressively identifying additional areas for cost reduction in addition to those that are being implemented currently,” said George Thomas, senior vice president & CFO of Chartered.

Chartered plans to release fourth quarter 2008 results on Friday, January 30, 2009, Singapore time, before the Singapore market opens. Chartered’s original guidance for fourth quarter 2008 was published in the Company’s third quarter 2008 earnings release dated October 31, 2008, which can be found on Chartered’s Web site at www.charteredsemi.com, under Investor Relations, Earnings Releases section.

The revised outlook for fourth quarter 2008 is as follows:

  3Q 2008   4Q 2008 Guidance
    Actual   October 31

Guidance

Midpoint/Range

 

Revised
Guidance

Midpoint/Range

  Revised

Guidance

Sequential change

Revenues   $463.7M  

$368, +/- $6M

  $348M, +/- $5M   Down 24% to down 26%

Revenues including
Chartered’s share of SMP

  $487.2M   $379M, +/- $7M   $355M, +/- $5M   Down 26% to down 28%
ASP (a)   $878   $897, +/- $20   $897, +/- $15   Flat to up 4%

ASP including Chartered’s
share of SMP (a)

  $873   $895, +/- $25   $895, +/- $20   Flat to up 5%
Utilization   85%   63%, +/- 3%   60%, +/- 2%   -
Gross profit   $65.6M   $31M, +/- $6M   $15M, +/- $5M   -
Net income (loss)   ($24.4M)   ($57 M), +/- $5M   ($80 M), +/- $4M   -

Basic earnings (loss) per
ADS (b)

  ($0.11)   ($0.23), +/- $0.02   ($0.32), +/- $0.02   -

1 | 2  Next Page »



Review Article Be the first to review this article
Featured Video
Jobs
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Senior DSP Architect / System Engineer for General Dynamics Mission Systems at Scottsdale, AZ
Technical Support Engineer for EDA Careers at Freemont, CA
SOC Logic Design Engineer for Global Foundaries at Santa Clara, CA
Sr. Staff Design SSD ASIC Engineer for Toshiba America Electronic Components. Inc. at San Jose, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Upcoming Events
FPGA 2017 at 350 Calle Pincipal, Marriott Hotel Monterey CA - Feb 22 - 24, 2017
DVCon 2017 Conference at DoubleTree Hotel San Jose CA - Feb 27 - 2, 2017
IoT Summit 2017 at Great America ballroom, Santa Clara Convention Center Santa Clara CA - Mar 16 - 17, 2017
SNUG Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Mar 22 - 23, 2017
TrueCircuits: IoTPLL



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy