STMicro posts first quarter loss

First quarter net revenues totaled at USD 1.71 billion, compared to USD 1,83 billion in the same quarter last year. Gross margin was 33.2% in the first quarter of 2015, up YoY from 32.8%. Net loss amounted to USD -22 million in the first quarter of the year, compared to USD -24 million during the same quarter in 2014. “As expected, the start of the year reflected seasonal softness. Additionally, revenues in the first quarter were affected by the anticipated currency impact on the portion of our euro-denominated revenues, and by lower sales of components for PC applications, both particularly affecting our SP&A segment revenue performance,” commented ST President and CEO Carlo Bozotti. “Although revenues came in lower than the midpoint of our first quarter outlook, gross margin was well aligned with our guidance and, despite seasonal factors, ST generated positive free cash flow. ---- Images: © STMicroelectronics