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SMIC swings to profit in Q2

Aug. 10, 2012 (China Knowledge) - Semiconductor Manufacturing International Corp or SMIC<0981>, China's largest chipmaker, announced yesterday that its net profit for the second quarter of this year reached US$7.1 million, whereas the company recorded a loss of US$3.8 million in the same period of 2011.

In the three months ended Jun 30, the company's revenue grew 19.7% YoY from US$352.4 million to US$421.8 million while its capital expenditure reached US$83.5 million.

Chiu Tzu-Yin, CEO of SMIC, said that the strong customer demand; especially, for the 65/55nm products boosted the company's sales.

The chipmaker expects its revenue for the first three quarter of this year to grow between 4% and 6%, sources reported.

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