July 23, 2012 / 1:01 AM / in 6 years

SMIC raises Q2 revenue and gross margin estimates

HONG KONG, July 23 (Reuters) - China’s Semiconductor Manufacturing International Corp (SMIC) , the world’s No.4 contract chipmaker, on Monday lifted its second-quarter revenue and gross margin estimates and was upbeat about its outlook.

“We see continued growth moving into the third quarter of this year,” said Chief Financial Officer Gareth Kung said in the filing to the Hong Kong bourse.

SMIC said it expected to revenue to have climbed 25-26 percent in the three months ended June 30, up from original guidance of 19-21 percent.

Its gross margin estimate was lifted to 23-24 percent, up from original guidance of 19-22 percent.

For statement, please click here

Reporting by Twinnie Siu; Editing by Edwina Gibbs

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