Chartered Semiconductor 4Q profit dips |
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Fri, 26 Jan 2007 01:05
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MILPITAS, Calif. (AFX) - Singapore-based chip foundry Chartered Semiconductor Manufacturing Ltd. on Thursday reported a 83 percent drop in fourth-quarter net income due to lower sales and higher costs.Net income after paying preferred dividends was $4.1 million, or nil per share, compared with $24.1 million, or a penny per share, in the year-ago period. The company earned a penny per American Depositary share during the quarter, compared with 8 cents per ADS in the year-ago period.Sales fell to $339.1 million from $367.2 million in the fourth quarter of 2005, primarily due to weakness in the consumer sector, partially offset by strength in the computer sector.Analysts polled by Thomson Financial, on average, expected a profit of a penny per share on sales of $337.4 million.Total operating costs increased to $67.3 million from $59.7 million last year.Shares of Chartered Semiconductor added 7 cents to close at $8.65 on the Nasdaq Stock Market.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Singapore Chartered Semiconductor FY net profit 68.18 mln usd vs loss 159.6 mln 