Monday July 24, 2006

Chartered profit misses estimates

bloomberg.com :

Chartered Semiconductor, a supplier of chips for the Xbox, reported a profit that missed analysts' estimates and forecast a drop in earnings because of falling game-player sales. Net income was $12.3 million in the second quarter ended June 30, compared with a $67.1 million loss a year earlier.

Chartered's stock posted its biggest drop in 19 months after the company said profit for this quarter may be as low as $6 million because of slowing industry growth and higher oil prices. Chief Executive Officer Chia Song Hwee is cutting factory use as the company tries to get rid of excess inventories.

See also :

1. Chartered starts producing chips for AMD ahead of schedule

(2006-07-24 19:01:01 SGT) [Biz] Permalink

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