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
The Justice Department has initiated a probe to find out if airlines are colluding to limit seating capacity in order to benefit from higher airfares. Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has pledged to give away his entire wealth amounting to $32 billion for charity. He said the fund will be utilized for cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world. Toyota accepted the resignation of its Chief Communications Officer Julie Hamp, following her arrest in Japan for allegedly mailing banned painkillers to her address in Japan from U.S.
comments powered by Disqus
RELATED NEWS
Trade SMI now with 
Follow RTT