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
Harris

Featured Video
Jobs
Project Manager for Keystone Aerial Surveys at Philadelphia, PA
GIS Specialist for Fresno Irrigation District at Fresno, CA
Geospatial Analyst - Senior for BAE Systems Intelligence & Security at Springfield, VA
Avionics System Engineer for BAE Systems Intelligence & Security at Arlington, VA
Division Engineer for Montana Dept. Of Commerce at Helena, MT
Senior Mechanical Engineer for BAE Systems Intelligence & Security at Arlington, VA
Upcoming Events
USC Spatial Science Summit at 3540 South Figueroa Los Angeles CA - Feb 23, 2018
2018 Los Angeles Geospatial Summit at USC Radisson Hotel 3540 S Figueroa St. Los Angeles CA - Feb 23, 2018
Webinar: What's New in Global Mapper v19.1 at United States - Feb 27, 2018
2018 Esri Developer Summit at Palm Springs Convention Center Palm Springs CA - Mar 6 - 9, 2018
Teledyne Optech
University of Denver GIS Masters Degree Online
Teledyne:
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2018 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