STMicroelectronics Sees Q4 Revenues To Be Sequentially Lower - Quick Facts

(RTTNews) - STMicroelectronics NV (STM) said that it expects fourth quarter 2015 revenues to decrease about 6% on a sequential basis, plus or minus 3.5 percentage points. Gross margin in the fourth quarter is expected to be about 33.5%, plus or minus 2.0 percentage points.

Carlo Bozotti, President and CEO said,"The softer market demand during the third quarter has led us to adjust down our manufacturing plan for the fourth quarter... With respect to our Digital Product Group, we are making progress in narrowing the options and we have the objective to announce a final decision in early 2016."

On an adjusted basis, ST reported non-U.S. GAAP net income per share of $0.12 in the third quarter, excluding impairment and restructuring charges, compared to net income of $0.06 and $0.13 per share in the prior and year-ago quarter, respectively.