SMIC Reports 2010 Third Quarter Earnings of $.06 per ADS

Semiconductor Manufacturing International Corporation SMI today announced its consolidated results of operations for the three months ended September 30, 2010.  

Third Quarter 2010 Highlights:

• Revenue up by 7.6% to $410.1 million in 3Q10 from $381.1 million in 2Q10 and up by 26.8% compared to 3Q09.
• Gross margins improved to 24.5% in 3Q10 compared to 15.6% in 2Q10 primarily due to an increase in fab utilization and lower depreciation costs.
• Net cash flow from operations decreased to $125.2 million in 3Q10 from $167.5 million in 2Q10.
• Gain attributable to holders of ordinary shares was US$30.4 million in 3Q10, compared to gain of US$96.0 million in 2Q10.
• Diluted EPS was $0.06 per ADS.