SMIC Announced Its Third Quarter Earnings Report: &Nbsp; &Nbsp; Net Profit Of US $30 Million 400 Thousand.
In late November 2nd, China's largest chip foundry enterprise SMIC
Integrated circuit manufacturing
00981.HK/NYSE.SMI (hereinafter referred to as SMIC) announced its third quarter 2010 earnings report.
The results showed that the company's revenue in the third quarter was $410 million, an increase of 26.8% over the same period, an increase of 7.6% compared to the same period, a net profit of 30 million 400 thousand US dollars, a loss of 69 million 346 thousand US dollars in the same period last year, and a decrease of 68.3% in the annulus.
Benefiting from increased capacity utilization and depreciation costs, SMIC's gross profit margin in the third quarter rose from 15.6% in the second quarter to 24.5%.
According to the earnings report, the fourth quarter revenue growth is expected to remain flat and gross profit margin is expected to reach 21% to 23%.
SMIC CEO Wang Ningguo said: "benefiting from the favorable market environment and the improvement in SMIC, the company achieved a full profit in the business operation of the quarter. Although the capacity grew by only 3%, the gross profit margin increased from less than 0.8% in the same period last year to 24.5%."
He also said that the proportion of 65 nanometer products accounted for the company's total revenue doubled compared to the second quarter, the company is currently accelerating the development of 45 nanometer products, hoping to get revenue in the second half of 2011.
SMIC
It is the largest inland in China.
Chips for business
In the two quarter of 2010, the report showed that SMIC's total revenue was $380 million, up 42.5% from the same period last year, with net profit of $96 million, ending a loss of up to 12 quarters.
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