SMIC smacks lips at better business

Chinese mainland foundry Semiconductor Manufacturing International Corporation (SMIC) reported quarterly figures for the three months ending 31 March 2010.

It said revenues were up sequentially in the quarter by 5.6 percent to $351.7 million – and up by 140.1 percent compared to the same quarter a year ago.

Gross margins amounted to 14.6 percent in the quarter because of higher average selling prices and an increase in wafer shipments.

It turned in a loss for the quarter of $181.9 million, better than the loss of $617.7 million it made in the last quarter of 2009.

David Wang, president and CEO of SMIC said its average selling prices increased because of a better product mix – its fabs are nearly full at 92.1 percent. North America and China accounted for most of SMIC’s revenues.

He said that the foundry market looks positive and the company’s second quarter is likely to show growth.

SMIC currently has a 300mm fa in SHanghai along with three 200mm wafer fabs; two 300mm wafer fabs in Beijing; a 200mm wafer fab in Tianjin and is building a 200mm fab in Shenzhen.