All currency figures stated in this report are in US Dollars unless stated otherwise.
The financial statement amounts in this report are determined in accordance with US GAAP.
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, 2012.
Third Quarter 2012 Highlights:
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.
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 http://www.media-server.com/m/p/r2txwn4y
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 2012 Third Quarter Results," including financial tables, please go to the following link: http://www.prnasia.com/sa/attachment/2012/11/20121105202546451172.pdf
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, 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.
Contact:
Investor Relations
+86-21-3861-0000 ext. 12804
ir@smics.com
