“As the quarter is progressing, we are seeing some of our customers postponing their deliveries due to, what we believe are, weaker market conditions and their intent to keep inventories low. We are therefore revising our outlook for the fourth quarter. Due to the uncertain business environment that continues to cloud our business visibility, we are aggressively identifying additional areas for cost reduction in addition to those that are being implemented currently,” said George Thomas, senior vice president & CFO of Chartered.
Chartered plans to release fourth quarter 2008 results on Friday, January 30, 2009, Singapore time, before the Singapore market opens. Chartered’s original guidance for fourth quarter 2008 was published in the Company’s third quarter 2008 earnings release dated October 31, 2008, which can be found on Chartered’s Web site at www.charteredsemi.com, under Investor Relations, Earnings Releases section.
The revised outlook for fourth quarter 2008 is as follows:
| 3Q 2008 | 4Q 2008 Guidance | |||||||
| Actual |
October 31
Guidance Midpoint/Range |
Revised
Midpoint/Range |
Revised
Guidance Sequential change |
|||||
| Revenues | $463.7M |
$368, +/- $6M |
$348M, +/- $5M | Down 24% to down 26% | ||||
|
Revenues including
|
$487.2M | $379M, +/- $7M | $355M, +/- $5M | Down 26% to down 28% | ||||
| ASP (a) | $878 | $897, +/- $20 | $897, +/- $15 | Flat to up 4% | ||||
|
ASP including Chartered’s
|
$873 | $895, +/- $25 | $895, +/- $20 | Flat to up 5% | ||||
| Utilization | 85% | 63%, +/- 3% | 60%, +/- 2% | - | ||||
| Gross profit | $65.6M | $31M, +/- $6M | $15M, +/- $5M | - | ||||
| Net income (loss) | ($24.4M) | ($57 M), +/- $5M | ($80 M), +/- $4M | - | ||||
|
Basic earnings (loss) per
|
($0.11) | ($0.23), +/- $0.02 | ($0.32), +/- $0.02 | - | ||||
