STMicroelectronics Sees Weak Net Revenues In Q1, Below Estimates

(RTTNews) - STMicroelectronics NV (STM), a semiconductor company, Thursday said it expects first-quarter net revenues of about $2.1 billion at the mid-point, decreasing year-over-year by about 5.7%. Gross margin is expected to be about 39.0% at mid point.

On average, analysts polled by Thomson Reuters expect revenues of $2.38 billion for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, net income climbed 35.4 percent to $418 million or $0.46 per share from last year's $308 million or $0.34 per share.

Net revenues increased 7.4 percent to $2.65 billion from $2.47 billion a year ago.

Analysts expected earnings of $0.44 per share on revenues of $2.64 billion for the quarter.

Gross margin was 40%, down from last year's 40.7 percent. Operating margin was 16.8%, up from 16.7 percent a year ago.