Chartered Lowers Guidance on Communications Weakness
Online staff -- 12/15/2004
Electronic News
Chartered Semiconductor Manufacturing lowered its Q4 guidance this week, originally given on October 28 to be approximately $193 million. Now, the company expects Q4 revenues to be approximately $191 million.
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“Chartered’s [Q4] revenues are now expected to be approximately $191 million, up around 5 percent from the year-ago quarter. Revenues including our share of SMP are now expected to be approximately $204 million, which is the low end of our prior guidance. Consistent with revenues, we have also revised the guidance for [Q4] net loss,” said George Thomas, VP and CFO of Chartered, in a statement.
“Compared to [Q3], as we had expected earlier, we see weakness in communications followed by the computer and consumer sectors. We continue to expect revenues from leading-edge 0.13-micron copper technology to increase sequentially and our overall 0.13-micron revenues to grow slightly in dollar terms and represent over 20 percent of our total business base revenues,” Thomas added.
The company now also expects its net loss for the quarter to be approximately $50 million, previously expected to be $49 million for Q4.
At the same time Chartered expects utilization to remain at 62 percent in Q4, down from 89 percent in Q3.
[Harry: That is below the 70 percent level most companies consisder an expansionary bias.]
Chartered plans to release Q4 results on Jan. 28, 2005. |
