ST-Ericsson reports third quarter 2009 financial results
•Net sales $728 million; 9% sequential increase
•Adjusted operating loss[1] $77 million; results improved compared to prior quarter
•Integrated product strategy endorsed by customers
Geneva, Switzerland, - ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC), reports financial results for the third quarter 2009.
President and CEO, Alain Dutheil, commented: "During the third quarter sales were up 9%.
Our focus on tight cost control and on completing the integration has started to improve results, and the remaining restructuring plan continues to progress according to schedule.
Customers and partners are endorsing our integrated solutions portfolio. We are experiencing good momentum with key customers for our U8500, the industry's first open OS 3G/HSPA single chip smartphone platform. We have also reinforced strategic relationships with key players in the computing market, such as Dell and Hojy, centered around our modem portfolio.
The company is progressing on the target to become a solid and profitable leader in the wireless semiconductor market and will continue this challenge, led by the recognized competence and expertise of Gilles Delfassy who will assume the President and CEO position on November 2, 2009."
Click to read full press release
•Adjusted operating loss[1] $77 million; results improved compared to prior quarter
•Integrated product strategy endorsed by customers
Geneva, Switzerland, - ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC), reports financial results for the third quarter 2009.
President and CEO, Alain Dutheil, commented: "During the third quarter sales were up 9%.
Our focus on tight cost control and on completing the integration has started to improve results, and the remaining restructuring plan continues to progress according to schedule.
Customers and partners are endorsing our integrated solutions portfolio. We are experiencing good momentum with key customers for our U8500, the industry's first open OS 3G/HSPA single chip smartphone platform. We have also reinforced strategic relationships with key players in the computing market, such as Dell and Hojy, centered around our modem portfolio.
The company is progressing on the target to become a solid and profitable leader in the wireless semiconductor market and will continue this challenge, led by the recognized competence and expertise of Gilles Delfassy who will assume the President and CEO position on November 2, 2009."
Click to read full press release
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