Semiconductor Manufacturing International (SMIC) saw its revenues climb to a record US$485.9 million in the fourth quarter of 2012.

Revenues for the entire year also hit an all-time high of US$1.7 billion, according to the China-based IC foundry.

SMIC's sales for fourth-quarter 2012 represented growth of 5.4% sequentially, beating the 0-2% sequential growth predicted by the firm previously. SMIC generated a fourth-quarter gross margin of 19.9%, which was at the high end of its guidance range.

Net income attributable to SMIC were US$39.7 million in the fourth quarter of 2012, compared to the US$12 million registered in the prior quarter. Diluted EPS came to US$0.06 per ADS.

SMIC posted revenue growth of 29% in 2012, while the foundry enjoyed a 30.2% on-year rise in wafer shipments. Income attributable to SMIC reached US$15.9 million in 2012, a 7-year high.

"In 2012, because of our improved operations, customer service, and quality, SMIC gained significant customer confidence, which contributed to high fab utilization," said Tzu-Yin Chiu, company CEO and executive director. "Revenue drivers in 2012 also included demand for mobile devices. Notably, our revenue from China customers grew 34.1% in 2012 over 2011, while employing our full spectrum of technology from 0.35-micron to 40nm."

"Our 45/40nm process commenced volume shipment in the fourth quarter, and its contribution more than tripled quarter-over-quarter to 2.6% of revenue," Chiu continued. "Our 28nm offering is on track and both HKMG and PolySiON processes are targeted to be ready by the fourth quarter of 2013."

Sales generated from 65nm and below processes accounted for a combined 37.9% of SMIC's total wafer sales in the fourth quarter of 2012, compared to 35.6% in the prior quarter and 21.3% a year ago. The 45/40nm process segment took a 2.6% share in fourth-quarter 2012, up 1.8pp on quarter and 2.3pp on year.

Looking into the first quarter of 2013, SMIC expects to post revenue growth of 1% or a decrease of up to 2% sequentially, with gross margin edging down slightly to 17.5-19.5%.

By: DocMemory
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