SHANGHAI, China Chinese foundry Semiconductor Manufacturing International Corp. (SMIC) reported net income of $34.2 million on sales revenue of $221 million in the second quarter, the company said Friday (July 30).
Sales rose 18.2 percent from $186.9 million and income was up 35.6 percent from $26.8 million in the prior quarter. Compared to the first quarter of 2004, wafer shipments increased by 15.6 percent to 201,534 8-inch wafers, while the blended average selling price increased by 2.6 percent to $1,034.
"During the second quarter of 2004, we were able to expand our technology offerings and engaged 15 new customers, seven of which are China fabless companies," Richard Chang, president and chief executive officer of SMIC, said in statement.
"We received relatively strong orders from our customers across all market segments, and in particular the consumer products market. We continued to execute our business plan by commencing commercial production at Fab 7, located in Tianjin. Furthermore, the ramp up of Fab 4, located in Beijing, continues on schedule with pilot production commencing on July 23 and commercial production set for later this year," Chang added.