STMicroelectronics reports First Quarter finac results
STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, reported financial results for the first quarter ended 28 March 2015. First quarter net revenues totaled $1.71 billion, gross margin was 33.2%, and net loss was $0.03 per share.
“As expected, the start of the year reflected seasonal softness. Additionally, revenues in the first quarter were affected by the anticipated currency impact on the portion of our euro-denominated revenues, and by lower sales of components for PC applications, both particularly affecting our SP&A segment revenue performance,” said ST President and CEO Carlo Bozotti.
“Although revenues came in lower than the midpoint of our first quarter outlook, gross margin was well aligned with our guidance and, despite seasonal factors, ST generated positive free cash flow.
“The many new industry-leading products we introduced during 2014 are steadily increasing our footprint with customers and starting to bring results.”