SMIC's Q3 sales up 24%, sees 99% fab utilization

SMIC (Shanghai) reported a net of $39.3 million in the quarter, up 15.2 percent from $34.2 million in the previous period. Compared to 2Q, wafer shipments in the period increased 30.9 percent to 263,808 8-inch wafers, according to the company.

The company reported a net profit of $10.4 million on sales of $107.1 million in the like period a year ago.

Fab utilization hit 99 percent during the quarter. The company did not list the sales and earnings figures for the like period a year ago.

"We are pleased to report continued growth through the third quarter of 2004," said Richard Chang, president and chief executive of SMIC, in a statement. "During the third quarter of 2004, the Asia Pacific region showed particular strength with the Greater China region accounting for 6.6 percent of total sales."

Chang said the company "received relatively strong orders from our customers across all market segments, and in particular the communications products market segment."

On September 25, SMIC commemorated the grand opening of Fab 4, which is China's first 300-mm wafer fab facility. "While ramp up of Fab 4 remains on schedule as planned with mass production set for the fourth quarter of 2004, we will continue expansion based on market demands," he said.