  We present the observations of the pulsar SMC X-1 with the ART-P telescope
onboard the Granat observatory. We investigate the variability of the flux from
the source on time scales of several tens of days. The intensity variation of
the pulsar are shown to be consistent with the presence of a periodicity in the
system with a characteristic time scale of $\sim61$ days. The precession of an
inclined accretion disk, as indirectly confirmed by the absence of low-state
pulsations, may be responsible for the observed variability. The spectrum of
the source is well described by a power-law energy dependence of the photon
flux density with a slope of $\sim1.5$ and an exponential cutoff at energies
above $\sim14-18$ keV. We estimated the inclinations between the planes of the
orbit and the accretion disk and the magnetic field of the neutron star.
