“Compared to our expectation in April, we are seeing incremental improvement in our business, mainly coming from our mature technologies. Therefore, we are now revising our revenue guidance upward. Based on the mid-point of our revised guidance for revenues including our share of SMP revenues, wafer shipments are now expected to increase approximately 60 percent compared to first quarter of 2009. In line with higher revenues, we expect net loss to improve approximately $10 million compared to our previous guidance,” said George Thomas, senior vice president & CFO of Chartered.
Chartered plans to release its second quarter 2009 results on Friday, July 24, 2009, Singapore time, before the Singapore market opens. Chartered’s original guidance for second quarter 2009 was published in the Company’s first quarter 2009 earnings release dated April 24, 2009, which can be found on Chartered’s Web site at www.charteredsemi.com, under Investor Relations, Earnings Releases section.
The revised outlook for second quarter 2009 is as follows:
| 1Q 2009 | 2Q 2009 | |||||
| Actual |
April 24 Guidance
Midpoint/Range |
Revised Guidance
Midpoint/Range |
||||
| Revenues | $243.9M |
$327M, +/- $6M |
$343M, +/- $5M | |||
| Revenues including Chartered’s share of SMP | $253.5M | $346M, +/- $7M | $361M, +/- $5M | |||
| ASP (a) | $928 | $918, +/- $20 | $912, +/- $15 | |||
| ASP including Chartered’s share of SMP (a) | $927 | $907, +/- $25 | $902, +/- $20 | |||
| Utilization | 38% | 58%, +/- 3% | 61%, +/- 2% | |||
| Gross profit (loss) | ($27.5M) | $17M, +/- $6M | $28M, +/- $5M | |||
| Net income (loss) | ($98.8M) | ($59M), +/- $5M |
($49M), +/- $4M |
|||
|
ADS used in calculation of basic earnings (loss) per ADS
(adjusted for rights offering and share consolidation) |
38.4M | 83.6M | 83.6M | |||
| Basic earnings (loss) per ADS (b) | ($2.64) | ($0.74), +/- $0.06 | ($0.62), +/- $0.05 | |||
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