According to foreign media reports, STMicroelectronics announced its 2008 first quarter report on Monday, affected by the restructuring, the sale of the flash memory sector and the acquisition of Genesis Microchip, the quarterly loss of $ 84 million.
Recently, the company signed a flash memory chip joint venture agreement with Intel and investment company Francisco Partners to separate the flash memory business and form a new Numonyx company. These restructurings, sales, and acquisitions of Genesis Microchip in January generated significant costs.
In the first fiscal quarter ended March 30, the company's revenue was $ 2.48 billion, up 9% year-on-year; the net loss was $ 84 million, or 9 cents per share, compared with a net profit of $ 74 million in the same period last year. Earnings per share of 8 cents. Excluding restructuring, asset impairment losses and other items, earnings per share for the quarter were 13 cents.
Analysts of the Thomson Financial Survey originally expected an average of $2.52 billion in revenue and 18 cents per share. Analysts' expectations generally do not include one-off items. On the same day, STMicroelectronics American Depositary Shares fell 6 cents to close at $11.54 per share. In the after-hours trading, it fell another 12 cents to $11.42 per share.
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