Feeds

STMicro posts $164m loss

Sales forecast to drop in Q3

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

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

Related Stories

STMicro confirms it will use 'Kyro III, IV' chips
STMicro cuts Q2 sales forecasts

Choosing a cloud hosting partner with confidence

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
The Heartbleed Bug: how to protect your business with Symantec
What happens when the next Heartbleed (or worse) comes along, and what can you do to weather another chapter in an all-too-familiar string of debilitating attacks?