SMIC Reports 2013 Fourth Quarter Results

All currency figures stated in this report are in US Dollars unless stated otherwise.

(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, 2013.

Fourth Quarter 2013 Highlights:

  • Revenue including wafer shipments from Wuhan Xinxin was $491.8 million in 4Q13, an increase of 1.2 % year over year, and down 7.9% quarter over quarter.
  • Non-GAAP revenue excluding wafer shipments from Wuhan Xinxin was $483.6 million in 4Q13, an increase of 10.6 % year over year, and down 4.0 % quarter over quarter.
  • Gross margin including wafer shipments from Wuhan Xinxin was 18.9% in 4Q13, compared to 19.9% in 4Q12 and 21.0% in 3Q13.
  • Non-GAAP gross margin excluding wafer shipments from Wuhan Xinxin was 19.2% in 4Q13, compared to 21.9% in 4Q12 and 22.1% in 3Q13.

First Quarter 2014 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.

  • Revenue is expected to be down 5% to down 9% quarter over quarter [$440 million to $460 million]. This revenue guidance is given in relation to the revenue without wafer shipments from Wuhan Xinxin in 4Q13. There will not be any wafer shipments from Wuhan Xinxin from 1Q14 onwards.
  • Gross margin is expected to range from 16% to 19%.
  • Non-GAAP operating expenses excluding the effect of foreign exchange, employee bonus accrual, funding of R&D contracts from the government and gain from the disposal of living quarters are expected to range from $88 million to $92 million.

Dr. Tzu-Yin Chiu, SMIC's Chief Executive Officer and Executive Director, commented, "2013 was another record-breaking year for SMIC. Based on our unaudited financial statements for the full year of 2013, revenue in 2013 reached a record high, of $2.07B, an annual growth of 21.6% when compared to 2012. If we remove the Wuhan Xinxin revenue contribution, SMIC revenue growth rate was a robust 27%. Our net profit attributable to owners of the Company also reached a historical high of $173.2 million compared to $22.8 million in 2012, an increase of 6.6 times. Our monthly capacity at year-end grew 6.7% year over year, to 234 thousand wafers per month compared to the end of 2012.

"I'm happy to announce that our 28nm High-K Metal Gate (HKMG) and PolySiON processes are both process frozen successfully, and are in Multi Project Wafer stage. We target modest revenue from 28nm process technology at the end of 2014 and more significant ramp up in 2015.

"China continues to be a leading source of high growth for SMIC. In 2013, China revenue accounted for 40.4% of our revenues, with a noteworthy growth rate of 44.9% compared to 2012.

"In the long-run, we have confidence in our strategy and capability to capture growth opportunities, especially those in the China IC market. And we continue to work with our new and existing customers to capture opportunities in 2014 and onward."

Conference Call / Webcast Announcement

Date: February 18, 2014

Time: 8:30 a.m. Shanghai time

Dial-in numbers and pass code:


China   

400-620-8038    

(Pass code: SMIC)

Hong Kong  

852-2475-0994 

(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 http://www.media-server.com/m/p/8n4tcoc7.

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

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10  Next Page »



Review Article Be the first to review this article

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
Re-Use Your CAD: The ModelCHECK Handbook
Jobs
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
GIS Analyst II for Air Worldwide at Boston, MA
Upcoming Events
Design & Manufacturing, Feb 7 - 9, 2017 Anaheim Convention Center, Anaheim, CA at Anaheim Convention Center Anaheim CA - Feb 7 - 9, 2017
Innorobo 2017 at Docks de Paris Paris France - May 16 - 18, 2017
Display Week 2017 at Los Angeles Convention Center 1201 S Figueroa St Los Angeles CA - May 21 - 26, 2017
SolidCAM: Program your CNCs directly inside your existing CAD system.



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise