STMicroelectronics reports 2013 third quarter results

STMicroelectronics Reports 2013 Third Quarter and Nine Month Financial Results

GENEVA, Switzerland — STMicroelectronics (NYSE:STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported financial results for the third quarter and nine months ending September 28, 2013.

Third quarter net revenues totaled $2,013 million and gross margin was 32.4%. ST’s third quarter net loss was $142 million as the Company took a charge of $120 million, mostly non-cash, in connection with its annual third quarter impairment review and already announced restructuring initiatives.

Q3 2013 – Product and Technology Highlights

• Achieved DOCSIS 3 certification for SoC products addressing the cable-data gateway and interactive set-top box markets.
• Launched system-on-chip devices that support UltraHD and HEVC video-decoding and are ideally suited for server, gateway and client-box applications.
• Started shipments of DisplayPort converter IC for Panasonic’s newly launched Smart VIERA (65WT600) Ultra HD TV.