STMicroelectronics Reports 2015 First Quarter Financial Results

GENEVA, Switzerland — STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported financial results for the first quarter ended March 28, 2015.

First quarter net revenues totaled $1.71 billion, gross margin was 33.2%, and net loss was $0.03 per share.

First quarter revenues were slightly better than ST’s usual seasonality decreasing 6.8% on a sequential basis, although reflecting the impact of the U.S. dollar strengthening on about 15% of our revenues that are Euro-denominated and lower sales of components for PC applications than anticipated.

On a year-over-year basis, first quarter revenues decreased 6.6% and, excluding legacy ST-Ericsson products and the one-time $15 million payment to ST from a patent settlement benefiting the Analog & MEMS (AMS) product line within the SP&A segment in the year-ago quarter, decreased 3.6%.

Q1 2015 – Product and Technology Highlights – Embedded Processing Solutions (EPS) – Digital Products (DPG)

• Began delivering to a European customer the latest Ultra-HDp60 quad-core Cannes and Monaco-family systems-on-chip ICs;
• Captured multiple design wins globally for Liege family of set-top box processors;
• Successfully demonstrated full RDK-B gateway software and DOCSIS® 3.1 real-time communication over standard COAX and device interoperability tests;
• Presented operating turnkey cable modem, cable data gateway, and interactive set-top-box reference designs for transitioning DOCSIS 2.0 to DOCSIS 3.0 / C-DOCSIS in China;
• Cooperated with key middleware partner iPanel on solutions for next-generation digital migration in China.