STMicroelectronics Q1 Loss Per Share Unchanged - Quick Facts

(RTTNews) - STMicroelectronics NV (STM) Thursday said its first-quarter net loss attributable to parent company was $22 million or $0.03 per share, compared to loss of $24 million or $0.03 per share in the previous year.

Net revenues fell to $1.705 billion from $1.825 billion last year. The company noted that even as revenues came in lower than the midpoint of its first-quarter outlook, gross margin was well aligned with its guidance and, despite seasonal factors, the company generated positive free cash flow.

ST President and CEO Carlo Bozotti said, "As expected, the start of the year reflected seasonal softness. Additionally, revenues in the first quarter were affected by the anticipated currency impact on the portion of our euro-denominated revenues, and by lower sales of components for PC applications, both particularly affecting our SP&A segment revenue performance," commented.

ST said a stable cash dividend of $0.40 per common share payable in equal quarterly installments is to be proposed to the 2015 Annual General Meeting of Shareholders.

Looking ahead, second quarter revenues are expected to increase about 3.5 percent on a sequential basis, plus or minus 3.5 percentage points.

Gross margin is expected to be about 33.8 percent, plus or minus 2.0 percentage points.