STMicroelectronics N.V.
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Publicatie datum
24 apr 2012 - 00:01
Statutaire naam
STMicroelectronics N.V.
Titel
ST-Ericsson reports first quarter 2012 financial results
Bericht
• Net sales $290 million
• NovaThor U8500 ModAp hitting the market in devices from leading customers
• New strategic direction and partnership announced today
Geneva, Switzerland, April 23, 2012 – ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC), reported financial results for the first fiscal quarter ending March 31, 2012.
Sales in the first quarter, excluding the contribution of IP licensing to a third party in the prior quarter, decreased sequentially 27% as anticipated. The operating loss was higher than the previous quarter due to the lower revenues.
Didier Lamouche, President and CEO of ST-Ericsson said: “This was a two-fold quarter: on one hand, our sales decreased substantially, as we had anticipated, due to a drop in sales of new products at one of our largest customers, in addition to the usual seasonal effect and to the continued decline of our legacy products.
On the other hand, it was a quarter that marked a milestone, since our NovaThor™ U8500 ModAp systems to Samsung and Sony Mobile Communications started successfully to ramp, with smartphones from both customers now hitting the market. In January I said that our focus would be to effectively execute on our strategic programs, deliver in volume our leading products and to proliferate design wins. This is now starting to happen and, moving forward, we will continue to focus on the execution of the four main pillars of our strategic plan that we announced earlier today.”
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