STMicroelectronics Q4 Net Income Declines; Net Revenues Down 3.2%

(RTTNews) - STMicroelectronics N.V. (STM) reported that its fourth quarter net income decreased to $1.08 billion compared to $1.25 billion in the year-ago quarter. Earnings per share decreased to $1.14 compared to $1.32. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.95, for the quarter. Analysts' estimates typically exclude special items.

Net revenues were $4.28 billion, a year-over-year decrease of 3.2%. ADG revenues increased 21.5%, while AMS and MDG decreased 25.8% and 11.5% respectively. Analysts on average had estimated $4.3 billion in revenue.

At the mid-point, for the first quarter, the company expects: net revenues to be $3.6 billion, a decrease of 15.9% sequentially, plus or minus 350 basis points; and gross margin of 42.3%, plus or minus 200 basis points.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.