STMicroelectronics N.V.
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Publicatie datum
23 okt 2012 - 23:11
Statutaire naam
STMicroelectronics N.V.
Titel
STMicroelectronics Reports 2012 Third Quarter and Nine Month Financial Results
Bericht
• Third quarter net revenues up 0.9% sequentially to $2.17 billion
• Third quarter gross margin up 50 basis points sequentially to 34.8%
• New cost-savings plan at ST level to achieve $150 million of annualized savings by end of 2013
• Non-cash impairment charge of $690 million for Wireless
Geneva, October 23, 2012 - STMicroelectronics (NYSE: STM) reported financial results for the third quarter and nine months ended September 29, 2012.
On a sequential basis, third quarter net revenues increased 0.9% to $2.17 billion and gross margin improved to 34.8%. Net loss attributable to parent company was $478 million, mainly due to a non-cash charge of $690 million for the impairment of Wireless goodwill.
President and CEO Carlo Bozotti commented, “Our third quarter revenue and gross margin results delivered sequential improvements. Overall, the strength of our product portfolio enabled us to manage the current weak demand environment. As anticipated, we benefited from the revenue growth of our MEMS, microcontrollers, Power MOSFET and IGBT businesses, which continue to expand into new applications, and we continue to strengthen relationships with key market leaders, such as Audi and Samsung. ST’s wholly-owned businesses operating margin improved, on a sequential basis, to 5.8%, mainly driven by improvements in our Power Discrete (PDP) segment.
“We have already been taking a number of important steps to advance our key priorities. In December, we will present our new strategic plan which will accelerate the roadmap towards our previously announced financial model and ensure the future success of both our Analog and Digital businesses and, therefore, of our company as a whole.
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