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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments