logo
Share SHARE
FONT-SIZE Plus   Neg

SMIC Lifts Q1 Revenue, Gross Margin Outlook - Update

Semiconductor Manufacturing International Corp. (SMI), 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet. Set-top box maker TiVo Inc. (TIVO), Tuesday reported a slight drop in profit for the first quarter despite an increase in revenue, as its bottom line was impacted by a one-time interest expense. Nevertheless, both earnings and revenues for the quarter trumped Wall Street estimates, on subscription growth,... Cloud-based human resource software maker Workday, Inc. said Tuesday after the markets closed that its first quarter net loss widened from last year, as higher costs and expenses more than offset a 57% increase in revenue. However, the company's adjusted loss per share was smaller than what analysts estimated and its quarterly revenue topped analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade SMI now with 
Follow RTT