The company's Q2 sales were supposed to be $327 million, plus or minus $6 million. Now, in the new forecast, the company's Q2 sales will hit $343 million, plus or minus $5 million, according to the foundry provider.

Its Q2 loss was supposed to be $59 million, plus or minus $5 million. Now, in the new forecast, the company's Q2 loss will hit $49 million, plus or minus $4 million.

"Compared to our expectation in April, we are seeing incremental improvement in our business, mainly coming from our mature technologies. Therefore, we are now revising our revenue guidance upward. Based on the mid-point of our revised guidance for revenues including our share of SMP revenues, wafer shipments are now expected to increase approximately 60 percent compared to first quarter of 2009. In line with higher revenues, we expect net loss to improve approximately $10 million compared to our previous guidance," said George Thomas, senior vice president & CFO of Chartered.

Singapore's Chartered and others gained share in the miserable foundry market in the first quarter of 2009, according to iSuppli Corp. But overall, business is expected to improve in the foundry arena, as there are whispers about possible allocations and price hike scenarios in the sector.

By: DocMemory
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