Semiconductor Manufacturing International (SMI) Reports Q1 Earnings of $0.02, Posts Q2 Guidance

Semiconductor Manufacturing International Corp. ADS (NYSE: SMI) reported Q1 EPS of $0.02, versus ($0.41) reported last year. Revenue for the quarter came in at $370.6 million versus the consensus estimate of $408.6 million.

Releases Q2 Guidance:

• Revenue is expected to decline between 3% to 7%.

• Gross margin is expected to range from 15% to 18%.

• Operating expenses excluding foreign exchange differences are expected to range from $82 million to $86 million.

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