The company says it foresees continued revenue growth but expressed caution over global economic conditions.

Net income, up from 5.38 million in the same quarter a year earlier, was in line with previous guidance from the company, said George Thomas, senior vice-president and chief financial officer.

Revenues in the three months to the end of December were 352.6 million dollars, up 4.0 per cent from 339.1 million a year earlier, said the company, which is listed in Singapore and on New York's Nasdaq high-tech market.

Full-year net income of 101.7 million dollars was up 51.8 per cent from the previous year and included a tax benefit of 91.4 million dollars, the company said.

Revenues for 2007 reached 1.4 billion dollars, down 4.2 per cent from 2006, Chartered said.

Wafer shipments rose 29.7 per cent to 383,200 in the fourth quarter, compared with a year earlier, while shipments for the full year reached 1.4 million, an increase of 13.7 per cent over the previous year, the company said.

Looking forward, Mr Thomas said strength in the mobile phone area is expected to offset weakness in the consumer sector.

Based on current demand, he said Chartered expects revenues to rise about four percent in the first quarter this year, compared with the December quarter.

'Like most businesses, we are concerned about the potential negative impact from a global economic condition that is becoming less favourable,' said Chia Song Hwee, Chartered's president and chief executive officer.

He said the company foresees 'meaningful growth' in the second half of the year.

'However, the uncertainties in the marketplace make the outlook quite clouded and difficult to predict with confidence,' Mr Chia said.

Chartered Semiconductor is 60 per cent owned by state-linked investment firm Temasek Holdings. -- AFP