SMIC Reports Unaudited Results for the Three Months Ended June 30, 2013

Operating Expenses (Income) Analysis

Amounts in US$ thousands

2Q13

1Q13

QoQ

2Q12

YoY

Operating expenses

56,095

46,967

19.4%

87,973

-36.2%

Research and development

36,736

24,758

48.4%

51,021

-28.0%

General and administrative

42,636

34,203

24.7%

29,093

46.6%

Selling and marketing

9,775

8,254

18.4%

7,786

25.5%

Other operating expense (income)

(33,052)

(20,248)

63.2%

73

-

  • R&D expenses increased to $36.7 million in 2Q13, up 48.4% QoQ from $24.8 million in 1Q13 mainly due to 1) a $7.5 million decrease in the funding of R&D contracts from the government in 2Q13, which offset the costs and 2) an increase of employee bonus accrual in 2Q13.
  • General and administrative expenses increased to $42.6 million in 2Q13, up 24.7% QoQ from $34.2 million in 1Q13, mainly due to higher employee bonus accrual in 2Q13.
  • Other operating expense (income) in 2Q13 included 1) the gain arising from the disposal of part of the living quarters in Shanghai and 2) the gain arising from the disposal of the Company's total ownership interest in SMIC (Wuhan) Development Corporation which was mainly engaged in the construction, operation and management of SMIC living quarters and schools in Wuhan.

Other Income (expense), Net

Amounts in US$ thousands

2Q13

1Q13

QoQ

2Q12

YoY

Other income (expense), net

(3,292)

(8,273)

-60.2%

(8,188)

-59.8%

Interest income

936

1,352

-30.8%

1,827

-48.8%

Finance costs

(9,080)

(10,850)

-16.3%

(10,174)

-10.8%

Foreign exchange gains or losses

2,949

2,145

37.5%

(2,336)

-

Other gains or losses

1,126

(1,366)

-

2,054

-45.2%

Share of profits of associates

777

446

74.2%

441

76.2%

  • Finance costs decreased to $9.1 million in 2Q13, down 16.3% QoQ from $10.9 million in 1Q13, mainly due to 1) the Company retired some of the bank borrowings in early 2Q13 and 2) more interest expense was capitalized as part of the costs of assets under construction in 2Q13.
  • The change of other gains or losses was mainly due to the payment of land idling tax charged by the local government in 1Q13.

Depreciation and Amortization


Amounts in US$ thousands

2 Q1 3

1 Q1 3

QoQ

2 Q1 2

YoY

Depreciation and amortization

135,712

135,752

-0.0%

140,770

-3.6%


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10  Next Page »



Review Article Be the first to review this article
Trimble

Harris

Featured Video
Jobs
Currently No Featured Jobs
Upcoming Events
2nd Conference GISRAfrica 2017 at Abuja Abuja Nigeria - Nov 23 - 24, 2017
2017 Conference on Big Data from Space (BiDS'17) at Centre de Congrès Pierre Baudis Toulouse France - Nov 28 - 30, 2017
GeoDATA 2017 London Showcase at ILEC Conference Centre 4 Lillie Road London United Kingdom - Nov 30, 2017
Geospatial World Forum 2018 at Hyderabad International Convention Centre Hyderabad India - Jan 16 - 19, 2018
Teledyne Optech
University of Denver GIS Masters Degree Online
Teledyne:
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise