Breaking News
FONT-SIZE Plus   Neg
Share SHARE

SMIC Lifts Q1 Revenue, Gross Margin Outlook - Update

RELATED NEWS
Trade SMI now with 

Semiconductor Manufacturing International Corp. (SMI: Quote), a semiconductor foundry, on Monday lifted its revenue and gross margin forecasts for the first quarter, citing better-than-expected order momentum as well as an improved outlook from customers.

For the quarter ended March 31, the Shanghai, China-based company now expects a sequential increase of 14 percent to 15 percent in revenue, compared to the previous forecast of a growth of 7 percent to 9 percent.

Gross margin for the quarter is now estimated to be between 10 percent and 12 percent in comparison with the original guidance of between 4 percent and 7 percent, due to the increased loading in the fabs.

"Since the release of our original guidance, we have seen solid order momentum and an improved outlook from our customers across the board, exceeding our earlier expectations," said Gary Tseng, Chief Financial Officer of the company.

SMI closed Monday's regular trade at $2.40, down $0.04 from the previous close, on a volume of 39,267 shares.

Click here to receive FREE breaking news email alerts for Semiconductor Manufacturing International Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Oracle Corp. said Thursday after the markets closed that its first quarter profit fell slightly from last year, hurt mainly by higher income tax expenses even as revenue increased 3%. The company's quarterly earnings per share, excluding items, also came in below analysts' expectations as did its quarterly revenue. After ending the previous session mostly higher following the Federal Reserve's monetary policy announcement, stocks saw further upside during trading on Thursday. The gains on the day lifted the Dow and the S&P 500 to new record closing highs. Incumbent Colorado Sen. Mark Udall, D-Col., trails his Republican challenger in the latest Quinnipiac University poll, with more than a third of likely voters describing their U.S. Senate vote as a vote against President Barack Obama.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.