Chartered Semiconductor Manufacturing Ltd (特許)one of the world’s biggest makers of custom-built microchips, yesterday said it returned to profitability in the second quarter but forecast a net loss for the next three months.
Net income was US$43.4 million, compared with a net loss of US$25.3 million in the same quarter last year, the company said.
The net income includes a tax benefit of US$49.5 million.
Revenues jumped 41.1 percent to US$457.6 million from US$324.3 million in the same quarter last year, said the company, which is listed in Singapore and on New York’s NASDAQ high-tech market.
The company, which makes chips for set-top boxes, video-game devices and MP3 and DVD players, forecasts a third-quarter loss of US$29 million.
Chia Song Hwee (謝松輝), Chartered’s president and chief executive officer, said the company faces a challenge from rising costs.
“Crude oil price increases, a weaker US dollar and input cost increases in items such as chemicals, process gases and supplies are nullifying the results of our cost reduction and productivity improvement efforts,” he said.
Discussions on sharing the cost increases have begun with customers, Chia said.
“Though we have not seen any broad-based reduction in our customer demand, we continue to be cautious about the worsening economic situation as we manage our business,” he said.
Earlier this year Chartered completed its US$240 million acquisition of Hitachi Semiconductor Singapore Pte Ltd which operates a wafer fabrication facility.
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