SMIC Raises First Quarter 2012 Revenue and Gross Margin Guidance
SHANGHAI, April 9, 2012 /PRNewswire-Asia/ -- Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981), one of the world's leading semiconductor foundries, is pleased to announce today an upward revision of its first quarter revenue and gross margin guidance for the three months ended March 31, 2012, which was originally released by SMIC in its results for the three months ended December 31, 2011 on February 8, 2012 (the "Original Guidance").
"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. Therefore, we are now raising our first quarter 2012 revenue guidance to a sequential increase of 14% to 15%, from the original guidance of an increase of 7% to 9%. We are also raising our first quarter 2012 gross margin guidance to between 10% and 12% from the original guidance of between 4% and 7%, as a result of the increased loading in our fabs," said Gary Tseng, Chief Financial Officer of SMIC.
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) foundry and technology services at 0.35-micron to 40-nanometer. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, and a 200mm fab under construction in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation.
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Investors should consider the information contained in SMIC's filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 20-F filed with the SEC on June 28, 2011, especially in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections, and such other documents that SMIC may file with the SEC or SEHK from time to time, including on Form 6-K. Other unknown or unpredictable factors also could have material adverse effects on SMIC's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Except as may be required by law, SMIC undertakes no obligation and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise. Telephone
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SOURCE Semiconductor Manufacturing International Corporation