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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (1628)	7/18/2002 9:13:10 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Chartered reports better-than-expected earnings Semiconductor Business News (07/18/02 19:50 p.m. EST) SINGAPORE -- Singapore's Chartered Semiconductor Manufacturing Pte. Ltd. late today announced stronger-than-expected results for its second quarter of 2002, reflecting increased demand for “leading-edge” wafer shipments. Net revenues were $127.5 million in second quarter 2002, up 51.1% compared to first quarter 2002, due to stronger demand in the communications and computer segments. Compared to second quarter 2001, net revenues were up 26.6% from $100.7 million. The company reported a net loss of $90.7 million in the quarter. This compares to a net loss of $107.6 million in the year-ago quarter and a deficit of $37.7 million from the prior quarter. Capacity utilization improved to 42% in second quarter 2002, from 28% in first quarter 2002 and 31% a year ago. "During the quarter, demand from our customers in the communications and computer markets grew rapidly,” said Chia Song Hwee, president and CEO of Chartered, in a statement. “Contributing to the strong growth was increased shipments of Chartered's 0.18-micron leading-edge technology wafers and growing momentum from new customer engagements. Revenues from 0.18-micron shipments increased from 10% of total in the first quarter to 24% in the second quarter and are expected to be at least 35% in the third quarter," he said. In the third quarter, Chartered projects its sales will be up 5% sequentially and approximately 70% year-over-year, with a net loss of approximately $87-to-$90 million. Overall fab utilization is expected to be in the low-40% range, according to the company.