STMicroelectronics N.V.
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Publicatie datum
22 apr 2013 - 22:45
Statutaire naam
STMicroelectronics N.V.
Titel
STMicroelectronics Reports 2013 First Quarter Financial Results
Bericht
STMicroelectronics Reports 2013 First Quarter Financial Results
- First quarter net revenues $2.01 billion, gross margin 31.3%; in line with guidance
- ST revenues excluding ST-Ericsson decreased 3% sequentially, better than normal seasonality
- Signed agreement with Ericsson to exit the ST-Ericsson joint venture
Geneva, April 22, 2013 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported financial results for the first quarter ending March 30, 2013.
Effective January 1, 2013, the segment reporting of ST’s results reflects the new strategy announced on December 10, 2012: Sense & Power and Automotive Products (SPA) and Embedded Processing Solutions (EPS).
First quarter net revenues totaled $2.01 billion and gross margin was 31.3%. Net loss attributable to ST was $171 million, mainly due to the 50% share in ST-Ericsson operating loss and restructuring costs.
“First quarter sales and gross margin results were in line with the mid-point of our guidance,” said ST President and CEO Carlo Bozotti. “Importantly, excluding ST-Ericsson, our businesses delivered revenues better than normal seasonality despite the ongoing soft macro-economic environment, due to the strong performance of Microcontrollers, Power and Smart Power for industrial and automotive. We also achieved key design wins with leading customers for 28nm FD-SOI technology products and home-gateway applications.
“We continued to maintain a strong net financial position in the quarter, while using some of our available cash to repay at maturity our outstanding 2013 Senior bonds. We have signed an agreement with Ericsson to split up the ST-Ericsson joint venture. We have also begun to advance towards our first quarter 2014 net operating expense goal, significantly reducing operating costs in the quarter.”
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