STMicroelectronics Posts Wider Loss In Q1 - Quick Facts

(RTTNews) - STMicroelectronics (STM), a global semiconductor leader, reported a first-quarter net loss to parent company of $41 million compared to a loss of $22 million, prior year. Loss per share was $0.05 compared to a loss of $0.03. Gross margin was 33.4% compared to 33.2%.

First-quarter net revenues was $1.6 billion, down 5.4% or 3.3% from last year, excluding negative currency effects and certain businesses undergoing a phase-out. Automotive and microcontroller revenues, excluding negative currency effects, both increased over 4.0%.

The Company expects second-quarter revenues to increase about 5.5% on a sequential basis, plus or minus 3.5 percentage points. Gross margin in the second quarter is expected to be about 34.0% plus or minus 2.0 percentage points.