SHANGHAI, Feb. 9, 2015 /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 December 31, 2014.
Fourth Quarter 2014 Highlights
First Quarter 2015 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, "As a management team, our first target had been to bring SMIC into sustainable profitability, and we have accomplished that. In Q4 2014, we achieved our eleventh consecutive profitable quarter and maintained a healthy utilization of 93%. We continue to aim for sustained profit as we enter our next stage of growth. 2014 was marked with achievements in development of technology and operations in preparation for growth in 2015 and beyond. We made progress in 28nm development, differentiated technology development, the development of new fab operations, and various new partnerships to expand business and opportunities in China and internationally.
2014 was also marked by the formation of several new partnerships, which display SMIC's leading role in the strengthening China semiconductor ecosystem.
Revenue from China has continued to be over 40% of our total revenue in the past 6 quarters and accounts for more than 45% of our total revenue in Q4 2014. As the largest and most advanced foundry in China, we are looking forward to benefiting from an overall growing IC ecosystem in China.
With a better than expected guidance for Q1 and encouraging feedback on 28nm, we continue to be optimistic about the future as we ramp up new 8-inch capacity in Shenzhen and 28nm capacity in both Shanghai and Beijing. We continue to have confidence in the China market, mobile products, smart consumer products, coming IoT("Internet of Things"), and our strategy to capture growth opportunities in China. We stay committed to sustainable profitability and building value for all stakeholders."
For the full version of SMIC's announcement, please see: http://photos.prnasia.com/prnk/20150209/0861501036-b
Conference Call / Webcast Announcement
Date: February 10, 2015
Time: 8:30 a.m. Shanghai time
Dial-in numbers and pass code:
| Mainland China |
+86 400-120-3170 |
(Pass code: SMIC) |
| Hong Kong |
+852 3051-2792 |
(Pass code: SMIC) |
| Taiwan |
+886 2-7743-8419 |
(Pass code: SMIC) |
| United States, New York |
+1 845-507-1610 |
(Pass code: SMIC) |
The call will be webcast live with audio at http://www.smics.com/eng/investors/ir_presentations.php or http://edge.media-server.com/m/p/hxjem4kf.
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 at 0.35-micron to 28-nanometer. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab and a second majority owned 300mm fab under development for advance nodes in Beijing; and 200mm fabs in Tianjin and Shenzhen. 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.
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 "First Quarter 2015 Guidance" and the statements regarding our target for sustained profit, our production capacity plans, industry growth and our strategy to capture growth opportunities brought by specific markets and products are based on SMIC's current assumptions, expectations and projections about future events. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project," "target" 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 global economic slowdown, orders or judgments from pending litigation, intensive intellectual property lawsuits in semiconductor industry 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 14, 2014, 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.
About Non-Generally Accepted Accounting Principles ("Non-GAAP") Financial Measures
To supplement SMIC's consolidated financial results presented in accordance with IFRS, SMIC uses in this press release non-GAAP operating expenses which consists of total operating expenses as adjusted to exclude the effect of employee bonus accrual, government funding and gain from the disposal of living quarters. This earnings release also includes first quarter 2015 guidance for non-GAAP operating expenses. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS.
SMIC believes that use of these non-GAAP financial measures facilitates investors' and management's comparisons to SMIC's historical performance. The Company's management regularly uses these non-GAAP financial measures to understand, manage and evaluate the Company's business and make financial and operational decisions.
The accompanying table has more information and reconciliations of each non-GAAP financial measure to its most directly comparable GAAP financial measure. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis.
CONTACT:
Investor Relations
+86-21-2081-2804
IR@smics.com
Semiconductor Manufacturing International Corporation
18 ZHANGJIANG ROAD,PUDONG NEW AREA, SHANGHAI, 201203, China
http://www.smics.com
