ST reports Q3 profit

STMicroelectronics (www.st.com) 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.

Oct. 27, 2004

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.