STMicro has lower quarterly profit on charges

SAN FRANCISCO, Jan 22 (Reuters) - STMicroelectronics (STM.PA: Quote, Profile, Research, Stock Buzz), Europe's top chipmaker, posted a lower quarterly net profit on Tuesday due to restructuring and other charges as well as higher expenses.

The Franco-Italian group, which is the world's fifth- biggest chipmaker, had fourth-quarter net income of $20 million, or 2 cents per share, compared with net income of $276 million, or 30 cents per share, a year ago.

Revenue rose 10.4 percent to $2.74 billion.

Last week, No. 1 chipmaker Intel Corp (INTC.O: Quote, Profile, Research, Stock Buzz) posted disappointing quarterly results and forecasts while Dutch chip equipment maker ASML (ASML.AS: Quote, Profile, Research, Stock Buzz)(ASML.O: Quote, Profile, Research, Stock Buzz) gave a cautious 2008 outlook, stoking concerns about worsening global economic conditions. (Reporting by Duncan Martell; Editing by Andre Grenon)