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
European stocks are seen flat to slightly lower on Thursday amid a lack of cues to sustain two days of gains. Geopolitical concerns remain and the earnings season is picking up pace, rendering investor mood cautious. In economic releases, investors eye PMI reports from major European economies and... Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit more than doubled from last year, as revenue surged 61% amid strong growth in mobile advertising. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. With traders reacting to the latest batch of earnings news, stocks fluctuated over the course of the trading day on Wednesday before eventually ending the session mixed. The Dow ended the day in the red, but the broader Nasdaq and S&P 500 managed to close in positive territory.
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.