Chartered Semiconductor (CHRTD) Raises Q2 Outlook

June 11, 2009 6:20 PM EDT

Chartered Semiconductor Manufacturing Ltd. (Nasdaq: CHRT) (Nasdaq: CHRTD) revised its second quarter 2009 guidance, which was originally provided on April 24, 2009.

"Compared to our expectation in April, 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 60 percent compared to first quarter of 2009. In line with higher revenues, we expect net loss to improve approximately $10 million compared to our previous guidance," said George Thomas, senior vice president & CFO of Chartered.

Sees Q2 revenues (including CHRT's share of SMP) at $361 million +/- $5 mln vs. prior guidance of $346 million +/- $7 mln. (Consensus is $394.55 million)

Sees Q2 Basic earnings (loss) per ADS at ($0.62), +/- $0.05 vs. prior guidance of ($0.74), +/- $0.06. (Consensus is a loss of $0.73)

Chartered Semiconductor Manufacturing Ltd. (Chartered) is a semiconductor foundries. The Company provides wafer fabrication services and technologies to semiconductor suppliers and systems companies.[SM]

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