© bellemedia-dreamstime.com Electronics Production | January 31, 2013
STMicroelectronics figures, without ST-Ericsson
Net loss attributable to parent company was USD 428 million, mainly due to a charge of USD 544 million following the company’s decision to exit the ST-Ericsson joint venture
Fourth quarter net revenues totaled USD 2.16 billion and gross margin was 32.3%. Net loss attributable to parent company was USD 428 million, mainly due to a charge of USD 544 million for the impairment of Wireless goodwill and other intangible assets following, the company’s decision to exit the ST-Ericsson joint venture after the communicated transition period as part of the company’s new strategic plan announced on December 10, 2012. President and CEO Carlo Bozotti commented, “In the fourth quarter, both revenue and gross margin results came in above the midpoint of our guidance despite the ongoing softness in the semiconductor market. We extended our leadership in key areas. Thanks to new product momentum, revenues from our wholly-owned businesses increased 0.2% and 1.6% on a sequential and year-ago basis driven by a very strong ramp of our MEMS products in the fourth quarter. “Looking at 2012 overall, we improved our net financial position compared to 2011 despite the significant cash used by ST-Ericsson as well as the impact of weak business conditions. We were able to end the year with significant financial flexibility and strong cash balances while providing shareholders with the same level of dividend compared to 2011.