Chartered Updates 3Q Guidance

Thu. September 10, 2009; Posted: 12:10 AM

Sep 10, 2009 (Close-Up Media via COMTEX) -- CHRT | Quote | Chart | News | PowerRating -- In a mid-quarter update, Chartered Semiconductor Manufacturing revised its third quarter 2009 guidance, which was originally provided on July 24.

In a release dated September 6, the company stated:

"Compared to our expectation in July, 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 24 percent compared to second quarter of 2009. In line with higher revenues, we expect net loss to improve approximately $18 million compared to our previous guidance," said George Thomas, senior vice president & CFO of Chartered.

Chartered plans to release its third quarter 2009 results on Friday, October 23, Singapore time, before the Singapore market opens. Chartered's original guidance for third quarter 2009 was published in the company's second quarter 2009 earnings release dated July 24, which can be found on Chartered's Web site at charteredsemi.com, under Investor Relations, Earnings Releases section.

Chartered Semiconductor Manufacturing, a dedicated semiconductor foundry, offers technologies down to 40/45 nanometer (nm), enabling today's system-on-chip designs.

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