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SMIC Reports $119M Loss On DRAM Exit
981.HK, Hardware, SMI, SMIC, Semiconductor Manufacturing International Corporation
Posted by: Megan Ko on Apr 29, 2008 | 20:04
Editorial Summary
Semiconductor Manufacturing International Corporation (SMIC) (NYSE: SMI, 0981.HK) announced first quarter revenue of $362.4 million, down 6.7 percent year-on-year and 8.3 percent quarter-on-quarter, on Tuesday. SMIC recorded a net loss of $119.1 million for the quarter, including a $44.5 million DRAM inventory additional loss provision and a reversal of $20.5 million in deferred income tax benefits from the fourth quarter of 2007. SMIC agreed to exit the commodity DRAM business in the first quarter of 2008.
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