It said ACCI (automotive/consumer/computer/telecom infrastructure) product revenue declined 17.2% to $899m, while industrial and multisegment product revenue fell 6.5% to $791m, and wireless product revenue increased 29.6% to $575m.
It attributed the net loss for the quarter to a non-cash charge of $204m, which included $180m impairment related to its Numonyx equity investment. Additional restructuring and impairment charges for the quarter totaled $91m.
For fiscal 2008, it reported a net loss of $786m compared to a loss of $477m a year ago, on revenue down 1.6% at $9.8 billion. The operating loss was $198m, compared to $545m last year.
Carlo Bozotti, president and chief executive at STMicro, said: Fourth-quarter net revenues came in at the mid-point of our updated outlook and reflected the accelerated level of order push-outs and cancellations and decrease in demand as the quarter progressed. Looking at our position in the semiconductor market, we grew our revenues faster than the overall market during 2008 and estimate we are approaching a record level of market share.
The company said it is planning to reduce costs by $700m and expects to cut about 4,500 net jobs worldwide in 2009 through a combination of ongoing restructuring initiatives and new programs focused on resizing its manufacturing operations and streamlining expenses.
