Menu
GlobalFoundries' new Singapore arm pays down debt

GlobalFoundries' new Singapore arm pays down debt

The company formerly known as Chartered Semiconductor posted revenue of US$1.54 billion in 2009

GlobalFoundries, the former chip manufacturing arm spun off from Advanced Micro Devices, has moved fast to put its financial house in order after acquiring Singapore contract chip maker Chartered Semiconductor.

Chartered, which is now called GlobalFoundries Singapore, posted 2009 full-year revenue of US$1.54 billion, down from $1.74 billion a year earlier, it said in a statement on Monday. The revenue includes its stake in chip maker Silicon Manufacturing Partners.

The company said its gross profit in 2009 was $200.9 million, compared to $213.8 million a year earlier. Gross profit does not include expenses such as research and development, marketing, or taxes. GlobalFoundries Singapore did not provide a net profit figure for the year or the fourth quarter.

The company's fourth quarter revenue was $482.1 million, up from $359.0 million a year earlier. Its gross profit in the fourth quarter of 2009 was $109.4 million, compared to $13.9 million a year earlier.

Other figures in the statement show GlobalFoundries Singapore has paid down about a quarter of its debt since the end of 2009, when its long-term debt and capital lease obligations totaled $1.91 billion. The company said it has already retired $565 million of that debt, and is on track to reduce total indebtedness by around $861 million due to actions taken since it was acquired by Abu Dhabi's Advanced Technology Investment Company (ATIC), which is AMD's joint venture partner in GlobalFoundries.

ATIC finalized the deal to buy Chartered and add the company to the GlobalFoundries family in a deal worth S$5.6 billion (US$4 billion) at the end of last year. Prior to the acquisition, Chartered was the third largest contract chip maker in the world behind Taiwan Semiconductor Manufacturing (TSMC) and United Microelectronics (UMC).

TSMC, the world's biggest contract chip maker, reported 2009 revenue of NT$295.7 billion (US$9.3 billion), down from NT$333.2 billion (US$10.5 billion) a year earlier. The company's gross profit in 2009 was NT$129.3 billion (US$4.1 billion), down from NT$141.8 billion (US$4.5 billion). TSMC reported its net profit for 2009 was NT$89.2 billion (US$2.8 billion), down from NT$99.9 billion (US$3.2 billion) in 2008.


Follow Us

Join the newsletter!

Error: Please check your email address.

Featured

Slideshows

Looking back at the top 15 M&A deals in NZ during 2017

Looking back at the top 15 M&A deals in NZ during 2017

In 2017, merger and acquisitions fever reached new heights in New Zealand, with a host of big name deals dominating the headlines. Reseller News recaps the most important transactions of the Kiwi channel during the past 12 months.

Looking back at the top 15 M&A deals in NZ during 2017
Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Show Comments