STMicroelectronics Posts Profit In Q1 - Quick Facts

(RTTNews) - Semiconductor company STMicroelectronics (STM) Thursday reported first-quarter net profit of $108 million or $0.12 a share, compared to a net loss of $41 million or $0.05 a share a year ago.

Operating income totaled $129 million, while it was loss of $33 million last year. On an adjusted basis, operating income was $134 million versus a loss of $5 million in the comparable period year ago.

Gross margins during the quarter were up to 37.6 percent from 33.4 percent.

For the first quarter, net revenues grew 12.9 percent to $1.821 billion, on solid growth across all product families. Analog and MEMS Group revenues rose 19.9 percent, and Microcontrollers and Digital ICs Group revenues grew 11.4 percent. Automotive and Discrete Group revenues increased by 5.6 percent, while Imaging Product Division revenues more than doubled.

In addition, the Company said it paid cash dividends totaling $53 million. The Supervisory Board has proposed to the 2017 Annual General Meeting of Shareholders to declare a cash dividend of $0.24 per share.