China-based IC foundry Semiconductor Manufacturing International (SMIC) has reported record revenues of US$546.6 million for the second quarter of 2015, and expects to post another sequential revenue growth in the third quarter.

"SMIC has achieved two quarters of consecutive growth in 2015 and we are guiding an additional quarter of growth for the third quarter. With some customers undergoing inventory adjustments, SMIC has successfully ramped up new products keeping our fabs well utilized," said company CEO Tzu-Yin Chiu in a statement.

SMIC's revenues for second-quarter 2015 represented growth of 7.2% sequentially and 6.9% on year. Gross margin for the quarter also climbed to 32.3%, hitting a record high, compared with 29.4% in the prior quarter and 28% a year ago.

SMIC utilized 102.1% of its capacity in the second quarter, compared with 99.7% in the first quarter and 94.6% in second-quarter 2014, the firm disclosed. SMIC shipped a total of 731,730 8-inch equivalent wafers in the second quarter of 2015, while monthly capacity came to 255,750 units.

In the second quarter, revenues generated from SMIC's China-based customers rose to account for a record 51.1% of the foundry's overall revenues, the company noted. "Our China revenue share has continued to increase in the past quarters and in Q2 China-region revenue contributed more than half our revenue for the first time," Chiu continued. "SMIC is in a key position as the largest and most advanced foundry in China to capture the many opportunities stemming from China."

Meanwhile, SMIC saw sales of its 65nm and more advanced processes account for a combined 40.5% of company revenues in the second quarter compared with 39.5% during the same period in 2014, while the share for its mainstream 0.15- and 0.18-micron technologies slid to 39.9% from more than 40% a year earlier.

SMIC's sales generated from 45/40nm processes accounted for 15.3% of the company's overall revenues in the second quarter compared with 13.2% in second-quarter 2014, the company revealed.

SMIC generated net profits of US$76.7 million in the second quarter of 2015, up 38.3% sequentially and 35% on year. Earnings per ADS for the quarter came to US$0.10.

SMIC expects to post revenue growth of 1-3% sequentially in the third quarter of 2015, with gross margin ranging from 28% to 30%.