stmicroelectronics ended the first quarter of the year with a net loss down to $24 million, compared to $171 million in the first three months of 2013, or $0,03 per share ($0,19). The turnover of the Italian-French group fell by approximately 9% to 1,825 billion dollars, but excluding St-Ericsson products, which showed revenues down by 9,2% on an annual basis, the turnover showed an increase of 0,7%.
The net financial position as of March 29 was $612 million, compared to $741 million as of December 31, 2013. The group has decided to distribute a dividend for the first and second quarters of $0,10 per share, “unchanged from to previous periods and in line with our intention to continue to remunerate shareholders”, stated the CEO of Stmicroelectronics, Carlo Bozotti.
For the second quarter, the company expects a gross margin of 33,6% (32,8% in the first quarter) and "an overall sequential increase in revenues around 2% as a midpoint of guidance," explained the number one again group, adding that St-Ericsson's revenues "continue to decline and we expect revenues to be less than half of the $63 million reported in the first quarter."
The market response was good: mid-morning the title Stm travels in positive territory in Piazza Affari, where it earns 0,6% a 6,765 euro.
