STMicroelectronics Turns To Profit In Q4 - Quick Facts

(RTTNews) - STMicroelectronics (STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported that its fourth quarter net income attributable to parent company was $43 million or $0.05 per share, compared to a net loss of $36 million or $0.04 per share in the year-ago quarter.

Non-GAAP net income per share was $0.07, compared to a net loss of $0.01 per share last year.

Net revenues for the quarter dropped to $1.829 billion from $2.015 billion in the previous year.

On a year-over-year basis, net revenues decreased 9.2%, reflecting the combination of the phase-out of legacy ST-Ericsson products as well as lower DCG sales, specifically set-top box, and AMS sales on product pruning and product generation transition.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share and revenues of $1.82 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

The company expects revenues in the first quarter of 2015 to decrease sequentially by about 5% at the mid-point, which is better than its normal seasonal evolution. Wall Street expects revenues of $1.70 billion for the first-quarter.

First quarter 2015 revenues are expected to decrease about 5% on a sequential basis, plus or minus 3.5 percentage points, and reflect no one-time licensing revenue compared to the fourth quarter, ST's high exposure to New-Year holidays in Asia as well as its shorter accounting calendar for the first quarter.