STMicroelectronics had Q1 revenue of $1.7 billion down 6.6% on Q1 2014 for a loss of $22 million about the same as the $24 million loss of Q1 2014. Gross margin was 33.2%.
“Although revenues came in lower than the midpoint of our first quarter outlook, gross margin was well aligned with our guidance and, despite seasonal factors, ST generated positive free cash flow,” said ST CEO President and CEO Carlo Bozotti.
In the second quarter, the company forecasts that revenues will be up by about 3.5%.
“During the quarter, we saw ST products enabling more and more of the Internet of Things as well as some of the latest flagship mobile and wearable devices: our AMOLED drivers, touchscreen controllers, pressure sensors, 6-axis motion MEMS, high-performance microphones and STM32 microcontrollers ramped production or were designed-in with global brands in exciting, new devices,” said Bozotti.
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