SMIC Raises Q1 Revenue, Margin Outlook

Semiconductor Manufacturing International Corp

lifted its forecast for Q1 revenue growth and gross margin. SMIC now expects Q1 revenue growing 14% to 15% versus the year-ago period, versus its original forecast of 7% to 9% growth. It now projects Q1 gross margin to be between 10% and 12%, versus its earlier forecast of 4% to 7%. SMIC shares closed at $2.40 yesterday.