SMIC Records 2008 Net Loss of USD 440 Mln
HKEX, 4/21/09
Chinese semiconductor foundry Semiconductor Manufacturing International Corporation (SMIC) (NYSE: SMI, 0981.HK) has issued its earnings report for 2008, with net revenues reaching USD 1.35 bln, down 12.7% year-on-year.
Net loss for 2008 was USD 440 mln, compared to a net loss of USD 19 mln in 2007.
The decrease in sales was primarily associated with SMIC's decision to transition from DRAM to logic production. During 2008, non-DRAM revenue grew by 14.3%. SMIC also stated that in 2009, the company would reduce its payroll expenses by 15%, without a workforce reduction.
To view SMIC's full earnings report, please click here.
Keywords: 0981.HK 2008 DRAM fiscal report hardware revenue semiconductor SMI SMIC profit
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