ST revenues fall 9%

STMicroelectronics reported 2014 sales of $7.4 billion for a net profit of $128 million and Q4 sales of $1.83 billion for a Q4 net profit of $43 million. It expects a 5% drop in revenues in Q1.

2014 revenues were 9.2% lower than 2013 revenues.

CEO Carlo Bozotti said that ST’s main objective for this year was to return to revenue growth. ST had higher revenues 15 years ago than it did last year.

Q4 gross margin was 33.8% which is expected to slip to 33.2% in Q1 because of under-utilised fabs. The 10% operating margin target set for mid-2015 has now been revised to a “mid-term” aspiration.

david manners

from News http://ift.tt/1LgIXkY

via Yuichun