SMIC Reports 2010 Third Quarter Results



Operating Expense Analysis

Amounts in US$ thousands

3Q10

2Q10

QoQ

3Q09

YoY

Total operating expenses

79,952

71,507

11.8%

99,184

-19.4%

 Research and development

47,377

43,330

9.3%

50,003

-5.3%

 General and administrative

16,754

15,017

11.6%

31,922

-47.5%

 Selling and marketing

7,771

7,019

10.7%

7,693

1.0%

 Amortization of intangible assets

6,742

6,686

0.8%

9,535

-29.3%

 Loss (gain) from disposal of properties

1,307

(545)

-

29

4406.9%






  • Total operating expenses increased to $80.0 million in 3Q10 from $71.5 million in 2Q10, an increase of 11.8% QoQ driven by an increase in R&D expenses and loss from sale of equipment and fixed assets.
  • R&D expenses increased to $47.4 million in 3Q10, up 9.3% QoQ from $43.3 million in 2Q10 due to an increase in R&D experiments.  
  • G&A expenses increased to $16.8 million in 3Q10 from $15.0 million in 2Q10 due to foreign exchange gains of $5.4 million in 2Q10.
  • Selling & marketing expenses increased to $7.8 million in 3Q10, up 10.7% QoQ from $7.0 million in 2Q10 primarily due to an increase in selling activities and related fees.



Other Income (Expenses)

Amounts in US$ thousands

3Q10

2Q10

QoQ

3Q09

YoY

Other income (expenses), net

13,358

101,812

-86.9%

(3,943)

-

 Interest income

1,030

879

17.2%

634

62.5%

 Interest expense

(6,781)

(6,293)

7.8%

(7,941)

-14.6%

Change in the fair value of commitment to issue shares and warrants

10,793

105,952

-89.8%

-

-

 Foreign currency exchange gain (loss)

1,557

(3,164)

-

2,441

-36.2%

 Other, net

6,759

4,438

52.3%

923

632.3%






  • Combined with the foreign exchange difference arising from operating activities, the Company recorded an overall foreign exchange gain of $1.4 million in 3Q10 as compared to an exchange gain of $2.2 million in 2Q10.
  • Other non-operating income in 3Q10 included a change in the fair value of the commitment to grant shares and warrants in connection with the litigation settlement in an amount of $10.8 million .


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



Review Article Be the first to review this article

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
H-1B Visa: de Geus’ tragedy looms large
Peggy AycinenaIP Showcase
by Peggy Aycinena
IP for Cars: Lawsuits are like Sandstorms
More Editorial  
Jobs
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
ASIC/FPGA Design Engineer for Palo Alto Networks at Santa Clara, CA
Mechanical Designer/Engineer for Palo Alto Networks at Santa Clara, CA
Lead Java Platform Engineer IOT-WEB for EDA Careers at San Francisco Area, CA
Technical Support Engineer for EDA Careers at Freemont, CA
CAD/CAM Regional Account Manager (Pacific Northwest) for Vero Software Inc. at Seattle, WA
Upcoming Events
Embedded Systems Conference ESC Boston 2017 at Boston Convention & Exhibition Center Boston MA - May 3 - 4, 2017
2017 GPU Tech Conference at San Jose McEnery Convention Center 150 West San Carlos Street San Jose CA - May 8 - 11, 2017
High Speed Digital Design and PCB Layout at 13727 460 Ct SE North Bend WA - May 9 - 11, 2017
Nanotech 2017 Conference & Expo at Gaylord National Hotel & Convention Center WA - May 14 - 17, 2017
DAC2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy