Semiconductor Manufacturing posts revenues

Chinese semiconductor foundry Semiconductor Manufacturing has announced its consolidated results for the three months ended 30 June 2010, with revenue reported to be up 8.4 per cent to $381.1m (£421.4m) from $351.7m in the previous quarter and up by 42.5 per cent compared with the prior-year quarter.

Gross margins improved to 15.6 per cent, compared with 14.6 per cent in the first quarter of 2010, while net cash flow from operations increased to $167.5m from $153.3m in the previous quarter.