BEIJING, Oct. 29, 2009 (Xinhua News Agency) -- China-based Semiconductor Manufacturing International Corp. (SMIC, 0981.HK; SMI.NYSE) Wednesday reported net losses of 69.3 million U.S. dollars in the third quarter of this year.
The semiconductor manufacturer registered sales revenues of 323 million dollars in July-September, up 20.9 percent from the second quarter, but lost 69.3 million dollars, representing a net loss of 0.155 dollar per share.
Zhang Rujing, chief executive officer of SMIC (NYSE:SMI) , said that the revival of wafer foundry market was shown in SMIC's quarterly financial report again. The firm's revenues in the third quarter rose nearly 21 percent from the previous quarter, exceeding its own expectation. SMIC predicts the revenue for the final quarter to increase two percent to five percent on quarter.
Industrial analysts said the semiconductor industry is on the mend despite of impacts brought about by global financial crisis. According to research firm iSuppli, with the recovery of China's export of electronics products, China's semiconductor industry will rebound sharply in 2010 after the tumble of this year.
Another Chinese wafer foundry Grace Semiconductor Manufacturing Corp. announced this year's initial profit in the third quarter. Influenced by the revival of industry's prosperity, SMIC is expected to breakeven in 2010 despite of current deficit.
