SMIC Reaffirms Fourth Quarter 2016 Guidance
SHANGHAI, Jan. 19, 2017 -- Semiconductor Manufacturing International Corporation ("SMIC" or the "Company") (NYSE: SMI; SEHK: 981), one of the leading semiconductor foundries in the world, announces today that it reaffirms its 2016 fourth quarter revenue and gross margin guidance for the three months ended December 31, 2016, which was originally released by the Company in its results for the three months ended September 30, 2016 on November 7, 2016. SMIC narrows its fourth quarter 2016 revenue growth from 5-7% quarter over quarter to 5-6% quarter over quarter, and gross margin range from 28-30% to 29-30%.
Dr. Tzu-Yin Chiu, Chief Executive Officer commented, "Since the release of our third quarter earnings, we have increased clarity on the near-term business environment. Based on current expectation, revenue for the first quarter of 2017 is expected to grow on a year over year basis and decline mildly quarter over quarter. We target an annual revenue growth of around 20% in 2017, outperforming the foundry industry average growth. Furthermore, we maintain our target to grow at 20% compounded annually from 2016 to 2019."
The Company is still in the process of finalizing its results for the three months ended December 31, 2016. The information contained in this press release is only a preliminary assessment by the management of the Company based on the latest unaudited consolidated management accounts of the Company for the three months ended December 31, 2016, which have not been confirmed nor audited by the Company's auditors and may be subject to adjustments.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
About 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. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. For more information, please visit www.smics.com
|
SMIC Hot IP
Related News
- SMIC Reports 2016 Fourth Quarter Results
- SMIC Reports 2023 Fourth Quarter Results
- Arteris Announces Financial Results for the Fourth Quarter and Full Year 2022 and Estimated First Quarter and Full Year 2023 Guidance
- SMIC Reports 2022 Fourth Quarter Results
- Arteris Announces Financial Results for the Fourth Quarter and Full Year 2021 and Estimated First Quarter and Full Year 2022 Guidance
Breaking News
- Alphawave Semi announced today a refocussing of the Board of Directors after reaching the three-year milestone since the Company's IPO
- Synopsys and Samsung Electronics Collaborate to Achieve First Production Tapeout of Flagship Mobile CPU with Leading Performance on Samsung Foundry's GAA Process
- Worldwide Silicon Wafer Shipments Dip 5% in Q1 2024, SEMI Reports
- GOWIN's progress in global automotive market gathers momentum with award of ISO 26262 certification for its FPGA design environment
- PCI-SIG® Announces CopprLink™ Cable Specifications for PCIe® 5.0 and 6.0 Technology
Most Popular
- Silvaco Announces Launch of Initial Public Offering
- TSMC's A16 Process Moves Goalposts in Tech-Leadership Game
- Radiation-Tolerant PolarFire® SoC FPGAs Offer Low Power, Zero Configuration Upsets, RISC-V Architecture for Space Applications
- Synopsys Accelerates Next-Level Chip Innovation on TSMC Advanced Processes
- QuickLogic Releases Aurora 2.6 with Expanded Operating System Support and Up to 15% Faster Performance
E-mail This Article | Printer-Friendly Page |