ST-Ericsson, a joint venture of STMicroelectronics and Ericsson, has reported net sales of $740m for the fourth quarter of fiscal 2009, up 2% compared to $728m for the third quarter of 2009. In the fourth quarter of 2008, the company generated pro-forma net sales of $746m.
For the quarter ended December 31, 2009, the company reported an operating loss of $50m, excluding amortisation of acquisition-related intangibles and restructuring charges, compared to an operating loss of $77m for the third quarter of 2009. The company reported a pro-forma operating loss of the $98m in the fourth quarter of 2008.
The company posted a net loss of $125m, compared to net loss of $112m for third quarter of 2009. Restructuring charges totalled $62m in the fourth quarter, compared to $19m in the third quarter of 2009.
For full year 2009, the company posted net sales of $2.52bn, operating loss of $369m and net loss of $539m. In the year 2008, the company reported pro-forma net sales of $3.57bn and operating loss of $297m.
Gilles Delfassy, president and CEO of ST-Ericsson, said: “In the fourth quarter, we gained further momentum in one of the fastest growing markets, China, where we are the clear leader in its standard TD-SCDMA, having delivered more than 6.5 million chipsets by the end of December 2009. In addition, we have taken further actions to improve our financial performance and increase our competitiveness.
“2009 has been a challenging year for our industry. For ST-Ericsson, the challenge was especially great. We had to strive to maintain our positioning, while also setting the foundations for sustainable and profitable growth. We will achieve this by rapidly integrating the businesses we have merged and by transitioning to the new portfolio strategy we devised for our next generation offering.”
