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Semiconductor Manufacturing International's profit fell 52% last year [Seeking Alpha]

SEMICONDUCTOR MFG (SMI)  More Company Research Source: Seeking Alpha
Last semiconductor mfg earnings: 5/10 06:34 am Check Earnings Report
US:NYSE Investor Relations: smics.com/eng/investors/ir.php
PDF Semiconductor Manufacturing International's profit fell 52% last yearSemiconductor Manufacturing International (NYSE:SMI)reports 2017 revenue growth of 6.4% on the year to $3.1B, a new record.Net profits fell 52% to $180M.Increased wafer shipments drove the revenue increase with 4.31M 8-in equivalent wafers shipped, up 8.9% on the year. But wafer ASP fell $17 to $719.More results: Gross margin, 23.9% (-5.3 percentage points Y/Y); profits from operations, $124.9M (-$214.3M); R&D spend, $427.1M (+34.2%).2018 guidance: Company expects high single-digit revenue growth, 10% to 20% gross margin, and approves a capex plan with $1.9B going towards foundry operations compared to $2.4B in 2017.SMI shares areup 1.2% premarket to $6.68 with a 52-week range of $4.49 to $9.14.See all stocks on the move »Now read:ViaSat -4.7% as Barclays cuts to Underweight » [Read more]

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