BEIJING (dpa-AFX) - Semiconductor Manufacturing International Corporation (SMI), a Chinese semiconductor foundry, on Thursday posted a rise in profit for the third quarter ended in September as revenues were supported by a rise in sales at Wafers segment, and in North American and Eurasian markets.
The Shanghai-headquartered firm posted a profit for the third quarter at $372.77 million or $0.04 per share, compared with $263.52 million or $0.03 per share, reported for the same period last year.
Owing to an increased demand for products and services of the semiconductor company, profit from operations for the quarter ended in September surged by 69.7 percent, to $310.04 million, year-on-year basis.
EBITDA for the period was posted at $893.85 million for the thirteen-week period ended in September, versus $653.15 million, during the corresponding period last year.
The semiconductor firm generated a revenue of $1.41 billion for the third quarter of the current fiscal, a rise of 30.7 percent, compared to the same quarter of 2020.
For the three-month to September, its revenue from Wafers segment grew by 93.9 percent, compared with a revenue growth of 85.4 percent, reported for the June to September period of last fiscal.
In addition, the company's revenues from North American and Eurasian markets grew by 20.3 percent and 13 percent, respectively for the quarter, compared to a revenue growth of 18.6 percent and 11.7 percent, year-on-year basis.
Owing to a positive trend in the market and a rise in sales, the company expects to continue to maintain its growth momentum in the fourth quarter, with an expected revenue growth of 11 percent to 13 percent sequentially. It also projected its gross margin to be in the range of 33 percent - 35 percent for the next quarter.
Based on the results of the first three quarters and the guidance for the fourth quarter, the company's full-year revenue growth target is further revised upward to around 39 percent.
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