SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : STM - SGS-Thomson (MPEG II)
STM 24.81+0.5%10:26 AM EDT
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Savant10/29/2014 10:17:23 AM
   of 437
 
PARIS--Chip maker STMicroelectronics NV Wednesday reported a swing to net profit in the third quarter, but warned that revenues will decrease in the fourth quarter from the third and said it will launch a cost savings plan in its digital business.

STMicro reported a net profit of $72 million in the third quarter compared to a $142 million net loss in the same quarter a year earlier, helped by a fall in research and development costs as it wound down its semiconductor joint venture with ST-Ericsson.

Net revenue fell to $1.89 billion in the third quarter from $2.01 billion in the second quarter. On a sequential basis, STMicro had forecast net revenue to rise 3%, but the third quarter number marked only a 1.2% increase from the $1.86 billion it posted in the second quarter.

The company expects a further 3.5% decline in revenues on a sequential basis in the fourth quarter.

STMicro, which makes microchips and sensors for mobile devices and industrial-applications devices, has been slowly clawing its way back to profit after nearly three years of losses caused by the collapse of its business making chips for feature-phone makers such Nokia and BlackBerry.

The company has been winding down its communication chip business to focus on making chips for cars and other applications.

On Wednesday, STMicro said it will aim to make $100 million of savings in its digital business over the next year.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News