Flexible Electronics News

STMicroelectronics Reports 3Q 2013, Nine Month Financial Results

Third quarter net revenues $2.01 billion; excluding Wireless product line, up 3.9% year-over-year and 0.5% sequentially

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By: DAVID SAVASTANO

Editor, Ink World Magazine

STMicroelectronics reported financial results for the third quarter and nine months ending Sept. 28, 2013. Third quarter net revenues totaled $2,013 million and gross margin was 32.4%. ST’s third quarter net loss was $142 million as the company took a charge of $120 million, mostly non-cash, in connection with its annual third quarter impairment review and already announced restructuring initiatives. “Our financial performance during the third quarter was mixed,” said Carlo Bozotti, ST pre...

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