<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>April 24, 2009, 7.09 am (Singapore time)
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Chartered posts US$98.8m Q1 loss
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SINGAPORE - Chip foundry Chartered Semiconductor Manufacturing said on Friday its net loss in the first quarter, ended March 31 2009, was US$98.8 million, compared to a profit of US$2.4 million a year ago.
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The world's third largest maker of customised chips posted a narrower than expected loss after orders improved amid a cut in stockpiles.
Chartered revised its first quarter loss forecast last month to between US$122 million and US$132 million from as much as US$152 million.
'The improvement in customer orders and the resulting sequential growth expectation into the second quarter are definitely encouraging signs,' said Chief Executive Officer Chia Song Hwee in a news release.
Revenue dropped 37 per cent to US$243.9 million.
The company said it expects to post a loss of US$54 million to US$64 million in the current quarter. Chartered shares ended 3 per cent lower at 16 Singapore cents here on Thursday. -- BT ONLINE [/FONT]
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Chartered posts US$98.8m Q1 loss
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
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<TABLE cellSpacing=0 cellPadding=5 width=120 align=left border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=4 width=200 align=left border=0><TBODY><TR bgColor=#4e6e78><TD colSpan=2 height=8>[FONT=Verdana, Arial, Helvetica, sans-serif]Related article: </TD></TR><TR bgColor=#d5e9f1><TD>
The world's third largest maker of customised chips posted a narrower than expected loss after orders improved amid a cut in stockpiles.
Chartered revised its first quarter loss forecast last month to between US$122 million and US$132 million from as much as US$152 million.
'The improvement in customer orders and the resulting sequential growth expectation into the second quarter are definitely encouraging signs,' said Chief Executive Officer Chia Song Hwee in a news release.
Revenue dropped 37 per cent to US$243.9 million.
The company said it expects to post a loss of US$54 million to US$64 million in the current quarter. Chartered shares ended 3 per cent lower at 16 Singapore cents here on Thursday. -- BT ONLINE [/FONT]
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