SMIC Reports 2012 Third Quarter Results
All currency figures stated in this report are in US Dollars unless stated
The financial statement amounts in this report are determined in accordance
with US GAAP.
SHANGHAI, Nov. 5, 2012
SHANGHAI, Nov. 5, 2012 /PRNewswire/ -- Semiconductor Manufacturing
International Corporation (NYSE: SMI; SEHK: 981) ("SMIC" or the "Company"),
one of the leading semiconductor foundries in the world, today announced its
consolidated results of operations for the three months ended September 30,
Third Quarter 2012 Highlights:
oQuarterly revenue hit a record high of $461.2 million in 3Q12, which was
up by 9.3% from $421.8 million in 2Q12 and grew by 50.3% year over year.
oGross margin increased to 27.5% in 3Q12 compared to 24.1% in 2Q12,
primarily due to continued improvements in manufacturing efficiency.
oNet cash flow generated from operations was $119.0 million in 3Q12,
compared to $109.4 million in 2Q12.
oIncome attributable to Semiconductor Manufacturing International
Corporation increased to $12.0 million in 3Q12, compared to $7.1 million
oDiluted EPS was $0.02 per ADS.
Fourth Quarter 2012 Guidance:
The following statements are forward looking statements which are based on
current expectations and which involve risks and uncertainties, some of which
are set forth under "Safe Harbor Statements" below.
oRevenue is expected to be flat to up 2%.
oGross margin is expected to range from 18% to 20%.
oOperating expenses excluding the effect of foreign exchange and government
R&D grants are expected to range from $70 million to $74 million.
Dr. Tzu-Yin Chiu, SMIC's Chief Executive Officer and Executive Director,
commented, "SMIC has demonstrated another quarter of significant improvement.
This management team came on board in the third quarter of 2011, and since
then our capacity has grown 6% with 50% revenue growth. Our gross margin
improved from 1.4% to 27.5%, and on the bottom-line we are back in the black.
We are now three quarters through the year, and we anticipate that 2012 will
mark a year of record-high revenue.
"In the past two quarters, we successfully achieved our short-term goal: to
fully utilize our existing capacity and improve efficiency.
"Our medium-term goal of technology differentiation is on track. We've already
seen the fruit of some initial results.
"And we are on track with our long-term objective, to continue advanced
technology development to serve the expanding demand from the fast growing
China market, while deepening our relationships with leading customers through
quality and service.
"We anticipate flat to slight growth for the fourth quarter sequentially, as a
result of our 65nm and 0.18um strength. I'd like to add that SMIC is in the
right market and still benefiting from the rapid growth of the communications
and consumer sectors in China. Because of SMIC's weight in these sectors, we
are less sensitive to PC weakness, and we are currently benefiting from good
exposure to feature phones, smart phones and tablets."
Conference Call / Webcast Announcement
Date: November 6, 2012
Time: 8:30 a.m. Shanghai time
Dial-in numbers and pass code:
United States 1-718-354-1231 (Pass code: SMIC)
Hong Kong 852-2475-0994 (Pass code: SMIC)
China 86-80-0819-0121 (Pass code: SMIC)
Taiwan 886-2-2650-7825 (Pass code: SMIC)
The call will be webcast live with audio at
http://www.smics.com/eng/investors/ir_presentations.php, or at
An archived version of the webcast, along with an electronic copy of this news
release will be available on the SMIC website for a period of 12 months
following the webcast.
For a complete version of "SMIC Reports 2012Third Quarter Results," including
financial tables, please go to the following
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.
For more information, please visit www.smics.com.
Safe Harbor Statements
(Under the Private Securities Litigation Reform Act of 1995)
This press release contains, in addition to historical information,
"forward-looking statements" within the meaning of the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements, including statements under "Fourth Quarter 2012
Guidance", "the expectation that 2012 marking a year of record-high revenue",
and "staying on track to continue developing advanced technology to serve the
increasing demands from China's fast growing market", are based on SMIC's
current assumptions, expectations and projections about future events. SMIC
uses words like "believe," "anticipate," "intend," "estimate," "expect,"
"project" and similar expressions to identify forward-looking statements,
although not all forward-looking statements contain these words. These
forward-looking statements involve significant risks, both known and unknown,
uncertainties and other factors that may cause SMIC's actual performance,
financial condition or results of operations to be materially different from
those suggested by the forward-looking statements including, among others,
risks associated with the current global economic slowdown, orders or
judgments from pending litigation and financial stability in end markets.
Investors should consider the information contained in SMIC's filings with the
U.S. Securities and Exchange Commission (SEC), including its annual report on
20-F filed with the SEC on April 27, 2012, especially the consolidated
financial statements, and such other documents that SMIC may file with the SEC
or The Hong Kong Stock Exchange Limited ("SEHK") from time to time, including
current reports 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.
+86-21-3861-0000 ext. 12804
SOURCE Semiconductor Manufacturing International Corporation
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