Chartered Semiconductor: 2Q outlook remains 'essentially unchanged'

Mon. June 09, 2008; Posted: 06:13 PM

SAN FRANCISCO, Jun 10, 2008 (Thomson Financial via COMTEX) -- CHRT | Quote | Chart | News | PowerRating -- Chartered Semiconductor Manufacturing Ltd. said late Monday its second-quarter business outlook remains "essentially unchanged."

For the second quarter, the Singapore-based semiconductor company reiterated that its expects revenue at the Chartered level to rise 17% sequentially and for revenue including its share of Silicon Manufacturing Partners to rise 16% sequentially.

Chartered said it now expects second-quarter gross profit to be roughly $15 million lower than the $81 million mid-point of its previous outlook, due to increased costs.

However, the company reiterated its second-quarter net income forecast due to a tax credit that is expected to offset the gross profit decline.

Chartered's American Depositary shares closed at $6.29. Gabriel Madway gm

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