SINGAPORE Chartered Semiconductor Manufacturing Pte. Ltd. on Thursday (July 22) posted revenues of $255.8 million in the second quarter of 2004, up 100.4 percent from $127.6 million in the year-ago quarter and up 12 percent from $228.4 million in the previous period.
Net income was $15.3 million, compared to a net loss of $90 million in the year-ago quarter. Capacity utilization in second quarter was 90 percent, compared to 55 percent in the year-ago quarter, and 81 percent in first quarter 2004.
Shipments in second quarter were 244.0 thousand wafers (8-inch equivalent), an increase of 74.1 percent compared to 140.1 thousand wafers in second quarter 2003, and an increase of 4.8 percent compared to 232.8 thousand wafers (8-inch equivalent) shipped in first quarter 2004.
Average selling price (ASP) was $1,048 per wafer in second quarter 2004, an increase of 6.9 percent from $981 per wafer in first quarter 2004, primarily due to product and customer mix.
"In the second quarter, we saw further improvement in our performance, as we continued to execute our strategy put in place in late 2002 while capitalizing on strengthening market conditions," Chia Song Hwee, president and CEO of Singapore's Chartered, said in a statement.
However, the Singapore foundry provider said the third quarter would be flat. In the third quarter, it expects sales of $255 million, plus or minus $3 million.
Net income is expected to hit $9.5 million, plus or minus $5 million. Fab utilization is projected at 90 percent, plus or minus 2 percent.
"Since April until early June, based on our internal forecast, we were expecting a sequential growth rate of roughly 7 percent for third quarter 2004. However, since the second half of June, we saw weakness in forecasts for the third quarter from customers in the communications sector and to a lesser extent in the consumer sector, though we also saw certain customers increasing orders. At this point, the weaknesses we are seeing could be broadly categorized into changes in product mix and inventory build related to specific customers," said Chia.