STMicroelectronics Reports 2011 Third Quarter and Nine Month Financial Results

2011 Nine Months Revenue and Operating Results by Product Segment


In Million US$

Nine Months 2011

Nine Months 2010

Product Segment

Net
Revenues

Operating
Income
(Loss)

Net
Revenues

Operating
Income
(Loss)

ACCI

3,151

307

2,979

276

AMM

2,226

468

1,876

310

PDP

986

123

953

116

Wireless

1,143

(601)

1,658

(347)

Others

37

(119)

47

(92)

TOTAL

7,543

178

7,513

263



Fourth Quarter 2011 Business Outlook  

Mr. Bozotti stated, "Based upon our current visibility and taking into account a further weakening of the market environment, we anticipate net revenues in the fourth quarter to decrease sequentially by about 8% within a range of approximately $2.15 billion and $2.30 billion. Reflecting both revenue and a higher level of unsaturation at our facilities as we make further adjustments to reduce inventory, we anticipate a gross margin range of about 33.5%, plus or minus 1.5 percentage points.

"While we remain cautious on the market environment, we have been vigilant in taking actions to maintain our solid financial position. Several additional actions we began last quarter to help mitigate the current market condition are in full effect, including temporarily closing down fabs, repatriating workload from subcontractors and cost-reduction measures.

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