STMicroelectronics reports 2007 second quarter/first half revenues and earnings
(Business News, 31 Jul 2007 )
STMicroelectronics has reported financial results for the second quarter and six months ended June 30, 2007. On May 22, 2007, ST, in conjunction with Intel and Francisco Partners, announced a definitive agreement to create an independent semiconductor company, with ST contributing its Flash Memories Group (FMG). Since January 1, 2007 ST’s NOR and NAND Flash businesses have been reorganized into a stand-alone segment. Because of this reorganization, ST presents certain financial results for the Company as a whole as well as for the Company excluding FMG.
Net revenues for the second quarter increased 6.2% to $2,418 million, and excluding FMG, increased 6.8% sequentially. By product segment, ASG’s net revenues increased 6.8% driven by double-digit sales growth in wireless and digital consumer sales, Industrial & Multisegment Sector increased 6.2% on high single-digit sales improvement in the Industrial market segment, while FMG net revenues increased 2.7% sequentially. Detailed information is available at www.st.com/stonline/press/news/latest.htm
