UPDATE 1-STMicroelectronics posts loss as ST-Ericsson weighs

Mon Apr 22, 2013 6:19pm EDT

SAN FRANCISCO, April 22 (Reuters) - European chipmaker STMicroelectronics posted its sixth straight quarterly loss, hurt by costs linked to the closure of joint venture ST-Ericsson and weak European semiconductor demand.

STMicroelectronics, which makes chips for cars, computers and mobile phones, on Monday reported first-quarter revenue of $2.01 billion, down slightly from $2.02 billion in the year-ago quarter and broadly in line with analysts' expectations.

The company said current-quarter revenue would rise 3 percent sequentially, plus or minus 3.5 percentage points.

Analysts on average had expected first-quarter revenue of $2.02 billion and June-quarter revenue of $2.13 billion, according to Thomson Reuters I/B/E/S.

It had a fourth-quarter net loss of $171 million, compared with a net loss of $176 million the same quarter a year earlier.

STMicroelectronics and Ericsson announced in March it will end their chip venture ST Ericsson after failing to find a buyer, splitting some of its businesses between the two companies and closing the rest of the operation.

On Monday, STMicroelectronics also announced it will decide and distribute quarterly dividends semi-annually, as opposed to just once a year previously. It plans to pay a 10 cent-a-share dividend in 2013's second and third quarters.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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