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STMicro posts $164m loss

Sales forecast to drop in Q3

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STMicroelectronics has posted a loss of $164.5 million for Q2, while warning that sales are likely to drop in the current quarter.

The loss at the European chipmaker compares to a profit of $176.3 million for the same period the previous year.

Sales dropped to $1.59 billion from $1.88 billion, with the company forecasting that sales would fall a further ten to 15 per cent in the third quarter.

STMicro said it had experienced "a significant amount of end-of-period order pushouts and cancellations, reflecting accelerated weakness in certain of its end-markets, particularly telecom and computer peripherals".

The Geneva-based company expects the chip industry to pick up by the end of the year. ®

Related Link

STMicro statement

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