Semiconductor Manufacturing International (SMIC) has announced interim financial results for the six months ended June 30, 2013, with revenues and net profits climbing to record highs.

SMIC generated revenues of US$1.04 billion in the first half of 2013, up 38.2% from US$754.5 million a year ago and hitting an all-time high. First-half net profits came to a record US$116 million, compared with the losses of US$35.8 million reported for the same period of 2012.

Gross profits for first-half 2013 increased 65% from a year earlier to US$233.5 million, with gross margin improving to 22.4% from 18.8% for the six months ended June 30, 2012.

SMIC reported impressive financial results for the most recent quarter. The China-based IC foundry saw its net profits surge 85.7% sequentially to US$75.4 million in the second quarter of 2013, while consolidated revenues climbed to a record US$541.3 million - the fifth consecutive quarter of record sales for the company.

About 40.9% of SMIC's total revenues was generated from orders placed by China-based fabless IC firms in the second quarter of 2013, the foundry disclosed. SMIC indicated that second-quarter revenues from its China-based customers grew 14.3% sequentially and 60.6% on year.

Meanwhile, SMIC's 40/45nm process technologies have played another growth driver for the company. In the second quarter of 2013, revenues generated from 40/45nm processes soared 71.9% sequentially to account for 10% of the foundry's total wafer sales compared to 6.4% in the first quarter.

By: DocMemory
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