SMIC Reports 2018 First Quarter Results
All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS").
SHANGHAI, May 9, 2018 -- Semiconductor Manufacturing International Corporation (NYSE: SMI; SEHK: 981) ("SMIC", the "Company" or "our"), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended March 31, 2018.
First Quarter 2018 Highlights
- Revenue was $831.0 million, and $723.4 million excluding the recognition of the technology licensing revenue in 1Q18 (the "Licensing Revenue"), compared to $787.2 million in 4Q17 and $793.1 million in 1Q17.
- Gross profit was $220.2 million, and $112.6 million excluding the effect of the Licensing Revenue in 1Q18, compared to $148.5 million in 4Q17 and $220.8 million in 1Q17.
- Gross margin was 26.5%, and 15.6% excluding the effect of the Licensing Revenue in 1Q18, compared to 18.9% in 4Q17 and 27.8% in 1Q17.
Second Quarter 2018 Guidance
The following statements are forward looking statements based on current expectations and involved risks and uncertainties, some of which are set forth under "Safe Harbor Statements" below. The Company expects:
- Revenue to increase by 7% to 9% QoQ, including the forecast to recognize the technology licensing revenue estimated at $56 million.
- Gross margin to range from 23% to 25%.
- Non-GAAP operating expenses, excluding the effect of employee bonus accrual, government funding, gain or loss on the disposal of machinery and equipment and gain from the disposal of living quarters, to range from $227 million to $233 million.
- Non-controlling interests of our majority-owned subsidiaries to range from positive $17 million to positive $19 million (losses to be borne by non-controlling interests).
Dr. Zhao HaiJun and Dr. Liang Mong Song, SMIC's Co-Chief Executive Officers commented, "SMIC is undergoing a period of transition. We are confronting many challenges; however, through the efforts of the past quarter, we are pleased that things are looking better than originally expected, with customer demand picking up, utilizations rebounding, and encouraging progress on R&D and business platform development.
Our revenue in the first quarter from the China region grew 28% sequentially and 40% year over year, and when excluding the technology license revenue, the China region grew 2% sequentially and 11% year over year. We work to develop our business platforms into comprehensive service offerings in areas that are aligned with meaningful opportunities stemming from the China market.
Meanwhile, we accelerate the development of our technology, aiming to build up complete technology platforms, which integrate competitive technology, ready-to-use IP, and comprehensive design services, in order to increase competitiveness and capture the needs of customers."
To see the complete results including financial tables, please click here: http://www.smics.com/pdf/2018_q1_earnings%20release_en.pdf
Conference Call / Webcast Announcement
Date: May 10, 2018
Time: 8:30 a.m. Beijing time
Dial-in numbers and pass code:
China | +86 400-620-8038 | (Pass code: SMIC) |
Hong Kong | +852 3018-6771 | (Pass code: SMIC) |
Taiwan | +886 2-2650-7825 | (Pass code: SMIC) |
United States, New York | +1 845-675-0437 | (Pass code: SMIC) |
The call will be webcast live with audio at http://www.smics.com/eng/investors/ir_presentations.php or https://edge.media-server.com/m6/p/arbytiq5.
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.
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 fab in Shanghai; a 300mm fab and a 200mm fab in Shenzhen; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; a 200mm fab in Tianjin 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
Breaking News
- Imagination DXS GPU officially certified as ASIL-B compliant
- DMP Released Next-Generation AI Accelerator IP "ZIA A3000 V2" - Industry-leading PPA efficiency to propel the future of edge AI
- Flex Logix Acquired By Analog Devices
- Oriole Networks Selects EnSilica as ASIC Partner and Contract Award for Photonics Controller ASIC
- Delivering industry-leading solutions with Comprehensive Automotive Grade Silicon IP Portfolio with ISO 26262 and ASIL Certifications
Most Popular
- MIPS Releases P8700, Industry's First High-Performance AI-Enabled RISC-V Automotive CPU for ADAS and Autonomous Vehicles
- Tessolve to Acquire Germany's Dream Chip Technologies
- Jolt Capital buys and invests in Dolphin Design's carved-out mixed-signal IP activities
- Panasonic Automotive Systems and Arm Partner to Standardize Software-Defined Vehicles
- Arteris Announces Financial Results for the Third Quarter 2024 and Fourth Quarter and Full Year 2024 Guidance
E-mail This Article | Printer-Friendly Page |