Industry News
SMIC Posts a Profit for First Time in Three Years
Semiconductor Manufacturing International Corp., China’s biggest chipmaker, forecast profit margins will rise this quarter as sales increase, after the company posted its first profit in more than three years.
Third-quarter revenue may climb as much as six percent from $381.1 million in the previous three months, the Shanghai-based company said in a statement to the Hong Kong stock exchange yesterday. Gross profit margin, the percentage of sales left after deducting production costs, will probably widen to 22 percent from last quarter’s 15.6 percent, according to Semiconductor Manufacturing.