March 6, 2007 – Singapore foundry Chartered Semiconductor Manufacturing says it’s still on track to meet its expected financial benchmarks for 1Q07: revenue of $321-$327 million, down about 3.5%-5.5% from December, according to execs. “The quarter is essentially progressing in line with what we had anticipated earlier,” stated George Thomas, SVP and CFO.
At least one analyst thinks AMD’s recent woes will weigh on Chartered’s performance. “We believe the high average selling price wafers for AMD are declining at an even greater pace (than wafer starts at a key Chartered fabrication plant),” said HSBC analyst Steven Pelayo in a note to investors, quoted by the Associated Press. He added that the drop in selling prices could result in declining second-quarter revenue for Chartered, instead of analysts’ early predictions of an 8% sales increase.
Chartered posted a $4.1 million profit in 4Q06 on $339.1 million in revenues, vs. prior-year marks of $24.1 million net income and $367.2 million in sales.