SAN FRANCISCO, April 22 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.