ST reports Q3 profit
Oct 27, 2004 5:42 PM
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STMicroelectronics reported Q3 net income of $189 million ($0.20 per share) on revenues of $2.23 billion, compared with a net loss of $50 million ($0.06) on revenues of $1.8 billion in Q3 2003.
Revenue growth in Q3 "was driven primarily by a broad range of digital consumer applications and application-specific ICs serving wireless, data storage, and certain automotive/audio applications," according to president and CEO Pasquale Pistorio. Approximately 14% of Q3 revenues came from the automotive market, although automotive revenues were about 3% below those of Q2.
For the first nine months of 2004, ST reported net income of $414 million ($0.45) on revenues of $6.43 billion, compared with $109 million ($0.12) on revenues of $5.12 billion in 2003.
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