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Printable Version
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CHARTERED SEMICONDUCTOR EXPECTS SIGNIFICANT IMPROVEMENT IN
SECOND QUARTER 2000 PROFITS AND IN FULL YEAR 2000 PROFITS
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SINGAPORE - June 30, 2000 -- Chartered Semiconductor Manufacturing
(Nasdaq: CHRT and SGX-ST: CHARTERED) has announced that revenues in the
second quarter ending June 30, 2000 are anticipated to be above expectations
and profits are anticipated to be substantially above expectations. The
improved outlook is due primarily to a combination of accelerated
productivity improvements in manufacturing operations, a higher average
selling price due to better mix and enhanced pricing, and higher wafer
shipments.
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- Based on available information, the company anticipates that revenues in
the second quarter will be up approximately ten percentage points from the
first quarter level and net income as a percent of revenue will be up four
to five percentage points from the first quarter level. Gross profit margin,
which originally had been expected to be down sharply from the first quarter
level due primarily to the impact of the Fab 6 start-up, is now expected to
be down approximately two percentage points.
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- Based on current trends and visibility with regard to market demand and
operational performance, the company now anticipates that earnings per share
in the third quarter and fourth quarter of 2000 will approximate the level
currently expected for the second quarter, despite the burden of the Fab 6
and Fab 7 start-ups.
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- Chartered plans to report final results for the second quarter on
Friday, July 21 Singapore time, before the Singapore market opens, which is
Thursday July 20 U.S. time, after the U.S. market closes. Further details of
the reporting schedule may be found on the company's website.
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- About Chartered
- Chartered Semiconductor Manufacturing (Nasdaq:CHRT and SGX-ST:Chartered)
is one of the world's top three independent foundries providing wafer
fabrication services. Guided by the tenets of trust, service, partnership,
advanced technology and stability, the Company aims to provide world-class
semiconductor foundry services that enable customers to create and deliver
market-leading system-level solutions. Chartered operates five fabrication
facilities that serve high-growth, technologically advanced applications
such as communications and networking. Headquartered in Singapore, Chartered
employs approximately 3400 people at its 11 locations in North America, Asia
and Europe.
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- Chartered is traded in the United States on Nasdaq and in Singapore on
the Singapore Exchange Securities Trading Limited (SGX-ST). The Company
reported 1999 revenues of US $694.3 million
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Safe Harbor Statement under the provisions of the United States
Private Securities Litigation Reform Act of 1995
- This news release contains forward-looking statements, as defined in the
safe harbor provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements relate to the Company's
anticipated results for the second quarter ending June 30, 2000 and for the
Company's anticipated earnings per share for the third and fourth quarters
of 2000, and reflect the Company's current views with respect to these
results, and are subject to certain risks and uncertainties, which could
cause actual results to differ materially from those anticipated. For
example, the Company's anticipated results for the second quarter ending
June 30, 2000 could vary from current estimates. Additionally, changes in
market outlook, customer demand and the Company's ability to achieve its
capacity acceleration plans could affect the Company's anticipated earnings
per share for the third and fourth quarters of 2000. Although the Company
believes the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, it can give no assurance that its
expectations will be attained. A description of certain of the risks and
uncertainties which could cause actual results to differ materially from
those indicated in the forward-looking statements can be found in the
section captioned "Risk Factors" in the Company's Annual Report on Form 20-F
filed with the U.S. Securities and exchange Commission. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
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