Micon Global is the local office for Tier-One providers of semiconductor design, manufacturing, test and qualification services.

Since 2001 we have been an integral part of industry's leading semiconductor companies’ successes. Serving local fabless or design centers, we act as our principal’s first and local call.
Micon shortens the distance between local European / Israeli semiconductors companies and tier-one global suppliers and service providers.

PROVIDING COMPLETE SEMICONDUCTOR SERVICES

Micon's long-term, proven track record of realizing and delivering upon successful international partnerships is cemented by means of our commitment to provide ongoing support and immediate response to our clients’ needs. This level of accessibility and responsiveness has earned Micon long-term client loyalty, trust and well considered references. The multidisciplinary and experienced team at Micon have addressed the discrete needs of many semiconductor companies and we will be happy to attend to your design and manufacturing requirements.”

MICON - A LOCAL OFFICE WITH GLOBAL RESULTS.

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SMIC Reports 2016 Second Quarter Results

SHANGHAI, Aug. 10, 2016 -- Semiconductor Manufacturing International Corporation (NYSE: SMI; SEHK: 981) ("SMIC" or the "Company"), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended June 30, 2016.

Second Quarter 201 6 Highlights

  • Revenue was a record high of $690.2 million in 2Q16, an increase of 8.8% QoQ from $634.3 million in 1Q16 and an increase of 26.3% YoY from $546.6 million in 2Q15.
  • Gross margin was 31.6% in 2Q16, compared to 24.2% in 1Q16 and 32.3% in 2Q15.
  • Profit from operations was $115.4 million in 2Q16, compared to $66.1 million in 1Q16 and $60.7 million in 2Q15.
  • Net profit for the period attributable to SMIC was $97.6 million in 2Q16, as compared to $61.4 million in 1Q16 and $76.7 million in 2Q15.

Third Quarter 2016 Guidance:

The following statements are forward looking statements which are based on current expectations and which involve risks and uncertainties, some of which are set forth under "Safe Harbor Statements" below. The Company expects:

  • Revenue to increase by 8% to 11% quarter over quarter.
  • Gross margin to range from 28% to 30%.
  • Non-GAAP operating expenses excluding the effect of employee bonus accrual, government funding and gain from the disposal of living quarters to range from $140 million to $145 million.
  • Non-controlling interests of our majority-owned subsidiaries to range from positive $4 million to positive $6 million (losses to be borne by non-controlling interests).

Dr. Tzu-Yin Chiu, SMIC's Chief Executive Officer and Executive Director commented, "Q2 was another excellent quarter: with record-high revenue, gross profit, and operating profit, marking our 17th consecutive quarter of profitability. Revenue reached a historical high of $690.2 million, growing 26.3% YoY and 8.8% QoQ. Gross and operating profits hit all-time highs, growing 23.5% and 90.2% YoY and 41.7% and 74.5% QoQ, respectively. On a quarterly basis, our Q2 return on equity reached 10% and our utilization was 98%. In 2015, our EBITDA margin was around 35%; we now target EBITDA margin to increase for the full year of 2016 compared to 2015.

Wafer revenue from 40nm grew 92% YoY and 27% QoQ. Our revenue from China grew 28.7% YoY and 20.1% QoQ. There are 3 components to this large growth from China. 1) Chinese system houses are winning end-product market share, 2) Chinese fabless growth is robust, and 3) SMIC is increasing market share. With our technology readiness, being the preferred foundry partner in China, and strong China positioning, SMIC has effectively captured many opportunities.

We are guiding another strong quarter of growth in Q3. We target continued growth in Q4, contrary to seasonality, and another record year for 2016. Demand continues to be exceedingly strong. With this great demand and our recent acquisition of LFoundry, we now raise our annual revenue growth percentage target to mid-to-high 20's this year.

All-in-all, we are doing our best to expand shareholder value, through profitable growth, cash generation, and careful funding selection. We are witnessing strength across the board, with robust growth, strong cash position, advantageous market positioning, enormous demand, and great opportunities. We are working hard to balance our profitability, growth, building shareholder value, and serving our customers for the benefit of all stakeholders."