STMicroelectronics Inc. (ST, Geneva, Switzerland) reported financial results for the second quarter and first half ended June 26, 2004. Net revenues for the second quarter were $2,172 million, up 7.0% sequentially from the $2,029 million reported in the prior quarter, and 27.6% above the $1,702 million of last year’s second quarter.
Revenues from application-specific products were $1,126 million, or 51.8% of 2004 second-quarter net revenues. Differentiated product revenues were $1,400 million, or 64.4% of net revenues for the period. Gross profit was $812 million, up 13.2% sequentially from the prior quarter’s $718 million, and 33.8% above last year’s second-quarter gross profit of $607 million. Gross margin was 37.4%, a 200-basis point improvement over the prior quarter’s 35.4%. Gross margin was 35.7% in last year’s second quarter.
