STMicroelectronics: Loss of $84 million in the first quarter

Recently, the company signed a flash memory chip joint venture agreement with Intel and investment company Francisco Partners to separate the flash memory business and form a new Numonyx company. These restructurings, sales, and acquisitions of Genesis Microchip in January generated significant costs.

In the first fiscal quarter ended March 30, the company's revenue was $ 2.48 billion, up 9% year-on-year; the net loss was $ 84 million, or 9 cents per share, compared with a net profit of $ 74 million in the same period last year. Earnings per share of 8 cents. Excluding restructuring, asset impairment losses and other items, earnings per share for the quarter were 13 cents.

Analysts of the Thomson Financial Survey originally expected an average of $2.52 billion in revenue and 18 cents per share. Analysts' expectations generally do not include one-off items. On the same day, STMicroelectronics American Depositary Shares fell 6 cents to close at $11.54 per share. In the after-hours trading, it fell another 12 cents to $11.42 per share.

Silicon TVS / TSS

Silicon TVS / TSS:

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