STMicroelectronics Reports Q2 2004 Revenues

July 21, 2004 by Jeff Shepard

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.