SMIC Lifts Q2 Gross Margin Guidance
(dpa-AFX International Compact Via Acquire Media NewsEdge) BEIJING (dpa-AFX) - Semiconductor Manufacturing International Corp. (SMI) lifted its second-quarter gross margin guidance for the three months ended June 30 to 27-29% from the the original guidance of 22-24%.
Dr. Yonggang Gao, Chief Financial Officer, said, "Since the release of our second quarter gross margin guidance, we have seen an increase in utilization and improved expense control, exceeding our earlier expectations. Therefore, we are now revising up our second quarter gross margin.''
The company maintained its original revenue and non-GAAP operating expenses for the second quarter.
As originally guided, revenue in the second quarter is expected to increase 12 to 15 percent quarter over quarter.
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