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

To: Bookdon who wrote (10256)	6/7/2004 8:19:03 PM
From: Proud_Infidel	Respond to of 25522

Chartered raises Q2 forecast amid strong foundry demand By Mark LaPedus Silicon Strategies 06/07/2004, 7:05 PM ET MILPITAS, Calif.--In its scheduled mid-quarter update, Singapore's Chartered Semiconductor Manufacturing Pte. Ltd. Monday (June 7) said it expects moderately higher revenues and net income for the second quarter of 2004, compared to its original guidance. The foundry provider originally projected a profit of $7 million, plus or minus $5 million, for the second period, on sales of $252 million, plus or minus $3 million. Now, the company projects a profit of $9.5 million, plus or minus $4 million, on sales of $254 million, plus or minus $2 million. Fab utilization was projected to hit 91 percent, plus or minus 2 percent, in the quarter. Now, it is expected to reach 90 percent, plus or minus 2 percent. Average selling prices (ASPs) were originally supposed to hit $1,025, plus or minus $20, for the quarter. Now, they are projected to be $1,038, plus or minus $10. In the first quarter, Chartered went into the black by posting $1.9 million in profits on sales of $228.4 million. "We now expect that Chartered's second quarter revenues will be approximately $254 million, up around 100 percent from the year-ago quarter and revenues including our share of SMP (Silicon Manufacturing Partners), will be approximately $306 million, up around 88 percent from the year-ago quarter," said George Thomas, vice president & CFO of Chartered, in a statement. "Compared to first quarter 2004, we are seeing growth in shipments of both advanced and mature technologies and an improved average selling price (ASP)," he said. "We expect the communications and computer sectors to primarily support the sequential revenue increase in the second quarter. The increase in revenue compared to our April outlook is primarily due to higher demand from customers in the computer sector." Chartered expects the revenue contribution from 0.18-micron and below products in the second quarter to be in the mid-40s percentage of total revenues, and 0.13-micron revenues to grow around 35 percent sequentially to at least 15 percent of total business base revenues.