STMicroelectronics Reports 2010 First Quarter Financial Results

Thursday, April 22nd, 2010
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GENEVA — STMicroelectronics (NYSE: STM) reported financial results for the 2010 first quarter ended March 27, 2010.

First Quarter Review

ST’s net revenues for the first quarter of 2010 totaled $2,325 million and included sales recorded by ST-Ericsson as consolidated by ST. Net revenues increased in comparison to the year-ago quarter in all market segments and in all regions. Net revenues decreased 10.0% sequentially, mainly reflecting fewer days in the fiscal first quarter compared to the prior quarter.ACCI and IMS product segments registered better than seasonal sequential revenues trends while the Company’s Wireless segment decreased by 17.6%.

On a year-over-year basis, all market segments posted double-digit growth, with Automotive increasing by 61%, Computer by 59%, Industrial by 37%, Consumer by 24% and Telecom by 13%. Distribution, which is essentially back to pre-recession levels, increased 114%, reflecting strong global demand and improving market conditions. Sequentially, all market segments decreased with Computer down 21%, Telecom by 14%, Automotive by 4% and Industrial and Consumer both by 1%. Distribution decreased sequentially by 9%.

Q1 2010 Products, Technology and Design Wins – Consumer applications

  • The Company launched a number of set-top-box (STB) decoders, including:
    • the high-end STi7108, which enables 3D-ready hybrid Internet/broadcast-TV STBs to deliver broadcast, Internet and personal content on the TV;
    • the STi7167 single-chip demodulator/decoder for Internet-TV, terrestrial and cable STBs to increase accessibility to digital TV in growing markets such as China, India, Latin America and Africa;
    • the STi7106 high-definition (HD) video decoder, which offers enhancements for higher performance, lower power, and lower bill-of-materials costs in STBs, and the STi5197L, which is designed for entry-level cable zapping STBs, particularly in the China market.
  • Design win activity for STB chips included:
    • continued momentum in digital terrestrial TV (DTT) with wins for the STi7105 decoder in second-generation DTT boxes and a first design win in Argentina with the STi5205;
    • ST’s TV switch and buffer products are now gaining designs at several low-cost STB makers in China, assisting in building ST’s silicon portfolio within these STBs;
    • several high-definition Internet-connected and built-in web-browser STBs based on ST decoders will be launched in 2011.
  • ST gained a key design win for a single-chip DisplayPort-to-VGA convertor SoC from a major tier-one OEM in the US. The STDP3100 is being used in a dongle application sold as an accessory for a revolutionary new mobile device.
  • ST unveiled the industry’s first ‘bridge’ chipsets for the proposed iDP (Internal DisplayPort) standard for use in next-generation LCD TVs. The chipsets are compliant with the iDP interface standard proposed by ST in collaboration with LG Display.
  • ST’s STDP8028 Faroudja™-based LCD-controller SoC, which offers advanced color processing and DisplayPort and HDMI receivers, entered into volume production at several tier-one customers.

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