Semiconductor Manufacturing International Q4 Profit Down - Quick Facts

(RTTNews) - Semiconductor Manufacturing International Corp. (SMI) said that its fourth-quarter profit attributable to the company sharply declined to $14.68 million from $46.57 million in the year ago quarter. Earnings per ADS was $0.02, down from $0.07 last year.

But, quarterly revenue increased to $491.80 million from last year's $485.89 million.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share and revenues of $501.19 million for the quarter. Analysts' estimates typically exclude special items.

For the first quarter of 2014, Revenue is expected to be down 5% to down 9% quarter over quarter [$440 million to $460 million]. This revenue guidance is given in relation to the revenue without wafer shipments from Wuhan Xinxin in the fourth-quarter of 2013. There will not be any wafer shipments from Wuhan Xinxin from first-quarter of 2014 onwards. Two analysts estimats revenues of $501.14 million for the first-quarter.