Semiconductor Manufacturing (SMI) Swings to Q3 Loss; Guides Q4

Semiconductor Manufacturing (NYSE: SMI) reported Q3 EPS of ($0.16), versus $0.06 reported last year. Revenue for the quarter came in at $306.9 million, versus $403.79 million reported last year.

Semiconductor Manufacturing also issued the following fourth-quarter 2011 outlook:

• Revenue is expected to decline between -5% to -8%.
  
  
• Gross margin is expected to range from -3% to -6%.
  
  
• Operating expenses excluding foreign exchange differences are expected to range from $89 million to $ 92 million.

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