Reuters logo
BRIEF-Semiconductor Manufacturing International says qtrly net profit $113.6 mln
November 7, 2016 / 12:08 PM / a year ago

BRIEF-Semiconductor Manufacturing International says qtrly net profit $113.6 mln

Nov 7 (Reuters) - Semiconductor Manufacturing International Corp :

* Revenue was a record high of $774.8 mln in 3q16, an increase of 12.3% qoq

* Gross margin was 30.0% in 3q16, compared to 31.6% in 2q16 and 32.0% in 3q15.

* Net profit for period attributable to SMIC was $113.6 mln in 3q16, as compared to $97.6 mln in 2q16

* Gross profit was $232.1 mln in 3q16, compared to $217.8 mln in 2q16 and $182.4 mln in 3q15.

* Sees q4 revenue to increase by 5% to 7% qoq.

* Sees q4 gross margin to range from 28% to 30%.

* “SMIC is seeing robust demand across board”

* “Reiterate our growth target of 20% compounded annual growth from 2016 to 2019.”

* Forecasting growth for both 4q16 and 1q17 given current visibility

* “We are on track to achieve another record year of revenue and net profit attributable to SMIC” Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below