Breaking News
FONT-SIZE Plus   Neg
Share SHARE

SMIC Lifts Q1 Revenue, Gross Margin Outlook - Update

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
Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%. Here is a quick summary of the earnings reported after the bell on Nov. 24. 1. Amira Nature Foods Ltd (ANFI) reported net income for the second quarter of $8.3 million or $0.29 per share, compared to $5.0 million or $0.18 per share for the year-ago quarter. Excluding items, adjusted earnings...
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.