This can't be good. Stan. Chartered Semi Has Wider 1st-Qtr Loss as Sales Fall (Update5)
By Greg Chang
quote.bloomberg.com
Singapore, April 19 (Bloomberg) -- Chartered Semiconductor Manufacturing Ltd., the world's third-biggest maker of chips for other companies, said its first-quarter loss widened less than expected and forecast sales will recover this year. The stock rose as much as 2 percent.
The loss was $128.4 million, or 93 cents an American depositary share, compared with $30.9 million, or 22 cents, a year ago. Sales fell to $84.4 million from $206.7 million, the company said. The results exceeded the company's March forecast.
While Chartered Semiconductor has lost money five quarters in a row, first-quarter sales rose from the fourth quarter, indicating that business may be picking up. It was the first quarter-to-quarter sales increase in more than a year.
``It's definitely an improvement,'' said Simon Koh, who helps manage $600 million in Asia outside Japan for Commerzbank Asset Management Asia Ltd., which owns Chartered shares.
Chartered Semiconductor's shares rose 6 Singapore cents, or 1.2 percent, to S$4.94 in midmorning trading. The shares have risen 9.3 percent since Monday's close. |
