Chartered sees Q2 loss at lower end of guidance
EE Times
(06/02/2005 8:19 PM EDT)
SAN JOSE, Calif. — In its scheduled update, Singaporean foundry provider Chartered Semiconductor Manufacturing Pte. Ltd. projects a loss at the low end of its previous guidance.
"Revenues including our share of Silicon Manufacturing Partners (SMP) are now expected to be at the higher end of our prior guidance and revenues at Chartered level are expected to be approximately at the mid point of our prior guidance. Our share of SMP revenues is expected to be higher than prior guidance. Consistent with higher revenues, our second-quarter net loss will be at the lower end of the range guided previously," said George Thomas, senior vice president and CFO of Chartered, in a statement.
Amid a shaky outlook and losses forecasted for the second quarter, Chartered in April reported sales of $181.4 million in first quarter of 2005, a decline of 20.6 percent from $228.4 million in the year-ago quarter and down 4.9 percent from $190.6 million in the fourth quarter of 2004.
The net loss for the Singaporean foundry provider was $84.5 million in the period, compared to a net profit of $1.9 million a year ago. In the previous quarter, Chartered posted a loss of $26.8 million.
For the second quarter, Chartered projected sales of $193 million, plus or minus $4 million, or up 4-to-9 percent over Q1. The company expects another loss of $83 million, plus or minus $5 million. Fab utilization is projected to hit 65 percent, plus or minus 2 percent (see April 21 story).
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