Semiconductor Manufacturing International Corp. (SMI: Quote,SIUIF.PK), or SMIC, posted second-quarter net income of $7.3 million versus net loss of $3.62 million last year. Earnings per ADS for the quarter was $0.01 compared to loss per ADS of $0.01 a year ago.
Revenue for the three-month period rose to $421.83 million from $352.39 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.05 per share on revenues of $400.29 million for the quarter. Analysts' estimates typically exclude special items.
Looking forward to the third quarter of 2012, revenue is expected to increase between 4% and 6%.
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by RTT Staff Writer
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