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Electronics Production | April 29, 2008

STMicroelectronics report net loss in Q1/08

STMicroelectronics reported a net loss of $84 million in Q1/08.
The company announced a Q1 net loss in the first quarter of 2008. Reasons for the loss were, according to management, costs for the ongoing restructuring process, financial burdens from the sale of the Flash-memory business and the acquisition of Genesis Microchip, reports dpa.

The net loss was $84 million in Q1/08, compared to a net increase of $74 million in the same period in 2007. The turnover increased to $2,48 billion, an increase by 9% compared to the previous year's period ($2,28 billion). Analysts expected to see a turnover increase to $2,51 billion.

The company expects to see a turnover of $2,29 to 2,42 billion in Q2/08 and a gross profit margin of around 37%.
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