April 10, 2012 – PRNewswire-Asia — Semiconductor foundry Semiconductor Manufacturing International Corporation (SMIC, NYSE:SMI, SEHK:981) revised upward its first quarter revenue and gross margin guidance for the 3 months ended March 31, 2012.
Solid order momentum for the foundry, improved outlook from its chip customers, and better fab utilization led SMIC to raise its Q1 2012 revenue guidance to a sequential increase of 14% to 15% (up from 7% to 9% in the original guidance) and gross margin guidance to 10% to 12% (up from 4% to 7%), said Gary Tseng, chief financial officer (CFO), SMIC.
SMIC recently secured a $600M loan, and opened a new research center in China.
SMIC has a 300mm wafer fab and three 200mm 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 manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation.
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is a leading semiconductor foundry in Mainland China, providing integrated circuit (IC) foundry and technology services at 0.35um to 40nm. For more information, please visit www.smics.com