Chartered Semiconductor Manufacturing Ltd. said that both revenues and earnings will be at the high end of the previously provided guidance range. Revenues are now expected to be up mid-single digits from fourth quarter 2001. This compares to prior guidance of "flat to up mid-single digits."
Revenues are now expected to be up mid-single digits from fourth quarter 2001. This compares to prior guidance of "flat to up mid-single digits." which was originally provided on January 29, 2002.
Chartered's current assessment is loss per American Depositary
Share (ADS) of approximately 98 cents, compared to prior guidance of a 98 cent to $1 loss.
Average selling price (ASP), previously expected to be "down mid-single digits" from prior quarter, is now expected to be flat to down a few percentage points. Utilization is still expected to be in the mid-to-high-20s.
"We are encouraged by the trends in our business this quarter and by the continuing signs of improved confidence we are seeing within our customer base," said Chia Song Hwee, senior vice president, CFO & CAO of Chartered, in a written statement.
"While modest, the improvement in our guidance does tend to substantiate our expectation that the industry is in the early stages of recovery and that Chartered's revenue growth should gain momentum as we move through the year."
Chartered plans to release its first-quarter 2002 earnings on April 19, Singapore time.