Charter Semiconductor continue to bleed

Friday July 22, 7:23 AM
Chartered Semiconductor swings to loss from profit

SAN FRANCISCO, July 21 (Reuters) - Chartered Semiconductor Manufacturing Ltd. , the world's fourth-largest custom maker of microchips, on Thursday swung to a loss from a year-ago profit as sales fell.

Singapore-based Chartered posted a net loss of US$67.1 million, or 27 cents per diluted American Depositary Share (ADS) compared with a net profit of $15.3 million, or 6 cents per ADS in the year-earlier quarter.

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The state-controlled firm was seen reporting a consensus mean net loss of US$76.4 million for the three months ended June, according to 12 analysts polled by Reuters Estimates.

Last month, the firm said its second-quarter loss would be at the lower end of an expected range of $78 million-$88 million.

Factory utilization fell to 65 percent of plant capacity from 90 percent in the second quarter of 2004.

Revenue fell 24 percent to $194.0 million from a year ago.