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Coffeeshop Chit Chat - Chartered Semi to lose US$76 mil in 4Q</TD><TD id=msgunetc noWrap align=right>
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Rodney Chan, DIGITIMES, Taipei [Friday 12 December 2008]
Chartered Semiconductor Manufacturing has lowered its guidance for the fourth quarter because of weaker than expected demand, estimating that revenues for the period will drop 26% sequentially instead of the original forecast of 21%.
Chartered now expects its fourth-quarter revenues to reach US$343-353 million, compared to US$362-374 million originally estimated on October 31. The company's third-quarter revenues totaled US$463.7 million.
Utilization will drop to 60% for the fourth quarter, down from 85% for the third quarter. The company originally estimated its fourth-quarter utilization at 63%.
Losses for the fourth quarter will widen to US$76-84 million, compared to losses of US$52-62 million originally expected. Chartered posted losses of US$24.4 million for the third quarter.
"As the quarter is progressing, we are seeing some of our customers postponing deliveries due to, what we believe are, weaker market conditions and their intent to keep inventories low. We are therefore revising our outlook for the fourth quarter," said George Thomas, senior vice president & CFO of Chartered.
Chartered plans to release its results for the fourth quarter of 2008 on January 30, 2009.
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Rodney Chan, DIGITIMES, Taipei [Friday 12 December 2008]
Chartered Semiconductor Manufacturing has lowered its guidance for the fourth quarter because of weaker than expected demand, estimating that revenues for the period will drop 26% sequentially instead of the original forecast of 21%.
Chartered now expects its fourth-quarter revenues to reach US$343-353 million, compared to US$362-374 million originally estimated on October 31. The company's third-quarter revenues totaled US$463.7 million.
Utilization will drop to 60% for the fourth quarter, down from 85% for the third quarter. The company originally estimated its fourth-quarter utilization at 63%.
Losses for the fourth quarter will widen to US$76-84 million, compared to losses of US$52-62 million originally expected. Chartered posted losses of US$24.4 million for the third quarter.
"As the quarter is progressing, we are seeing some of our customers postponing deliveries due to, what we believe are, weaker market conditions and their intent to keep inventories low. We are therefore revising our outlook for the fourth quarter," said George Thomas, senior vice president & CFO of Chartered.
Chartered plans to release its results for the fourth quarter of 2008 on January 30, 2009.
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