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Chartered 4th quarter 2007 - February 1st 2008
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singaporegal
Supreme |
14-Dec-2007 21:52
Yells: "Female TA nut" |
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The semiconductor industry is very competitive and saturated. Chartered has not been doing well in this environment. |
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tiandi
Senior |
14-Dec-2007 18:11
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from Lim & Tan CSM In its scheduled mid-quarter update (for 4Q2007), CSM reaffirmed its 4Q2007 guidance which was orginally provided on Oct 26 2007. As a result, 4Q2007 sales is expected to be down 2-6% qoq, reflecting lower utilization rate and average selling price and bottom-line is expected to range between a profit of US$1-11mln compared to a profit of US$7mln in 3Q2007 (would have been profit of US$115mln if the tax benefit was included) as well as 4Q2006. With its major customer's (AMD) recent announcement of delay in the launch of new chipsets and widening losses, CSM may continue to face challenging times going into the seasonally weak 1Q2008 (potentially dipping into the red in 1Q2008). Hence, despite its lacklustre share price performance (trading close to its 4 year lows) we maintain our HOLD recommendation (its 1.2x price to book is at an appropriate discount to TSMC's 3.1x, given its much smaller size and lagging technological nodes). |
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techsys
Master |
14-Dec-2007 11:05
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Chartered plans to release fourth quarter 2007 results on Friday, February 1, 2008, Singapore time, before the Singapore market opens.
website: www.charteredsemi.com, |
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