Feeds

STMicro back in the black

Sales slide, though - and won't improve any time soon, company claims

  • alert
  • submit to reddit

The essential guide to IT transformation

STMicroelectronics saw its sales slide 11.8 per cent last last quarter from the previous three-month period and 31 per cent down on the same period last year, the company reported yesterday.

However, ST forecast that its Q4 sales will show little or no decline over Q3 suggesting that it at least thinks the downturn has bottomed out.

More importantly, the chip maker - Europe's largest - returned to profitabilty, albeit at a level far below the income it achieved in Q3 2000. It reported earnings of $35.8 million, compared to last year's $415.3 million.

ST's revenues came in at $1.4 billion, rather less than the $2.04 billion worth of sales it recorded a year ago, but within the guidance it had already offered and better than analysts had anticipated. ®

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Broadband slow and expensive? Blame Telstra says CloudFlare
Won't peer, will gouge for Internet transit
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?