ST-Ericsson reports first quarter 2011 financial results
- Net sales $444 million
- Adjusted operating loss[1] $149 million
- New high-speed modem sales nearly doubled sequentially
ST-Ericsson reports first quarter 2011 financial results
"However, revenue from new products as a percentage of the total revenue grew again this quarter driven, for example, by sales of our high-speed Thor(TM) 21 megabits per second (Mbps) thin modems, which nearly doubled sequentially. We've also made further inroads with customers on our NovaThor(TM) family of products including the U8500 platform, which is on track.
"In the midst of these financial results, our main focus remains on improving efficiency and securing the successful execution and delivery of our new products to customers, which will drive the long term success of the company. And I am pleased to say that seven of the top nine device manufacturers by revenue are actively engaged with us here.
“We continue to believe in the direction we've set - to be a formidable leader in the smartphone and tablet markets. The traction we have with customers helps confirm these beliefs. We aim to serve these customers well and complete the transition to our new product portfolio as quickly as possible.”
Additional financial information
The net financial position[2] at the end of the first quarter was negative $195 million. The sequential decrease was mainly due to the operating loss. During the first quarter the company sold trade receivables without recourse, of which $148 million were outstanding at the end of the quarter, representing a sequential decrease of $18 million. Inventory increased by $46 million, reaching $321 million at the end of the first quarter, mainly due to the lower than expected sales during the quarter.
Outlook
For the second quarter 2011, ST-Ericsson expects net sales to decline sequentially, primarily due to the ongoing decline in legacy products. The impact of the Japan earthquake has been manageable to date; however, the company will continue to monitor the supply chain situation.
Highlights - products, technology and wins announced in first quarter 2011
-Products
· Launched the NovaThor(TM) family, combining the most advanced application processors (Nova(TM)) with the latest generation of modems (Thor(TM))
· Launched the Igloo open source community and Snowball, the most comprehensive developer board, to accelerate system and software innovations on ST-Ericsson's Nova(TM) application processor
-Customers
· Samsung selected the Thor(TM) M5720 modem to power its Samsung Galaxy S(TM) 4G, the world‘s first 21 Mbps smartphone and ’T-Mobile‘s Sidekick® 4G by Samsung’; both are running on T-Mobile's US network
· Quanta Computer selected ST-Ericsson to power its LTE tablets using the NovaThor(TM) platform
· Showcased a complete TD-LTE solution with voice service for the first time, together with Ericsson and Sony Ericsson
· Design-win on Thor(TM) M5730 with Ericsson's new C5621gw and H5321gw modules
-Operators
· Cooperation with Verizon Wireless on Thor(TM) 4G LTE modems to support its 4G LTE mobile broadband network
· Demonstrated the feasibility of HSPA in 1800 MHz band with Orange, Ericsson and Quanta Computer
Website: http://www.stericsson.com
Contact
Claudia Levo
+41 22 930 2733
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This news is a press release provided by ST-Ericsson. Korea Newswire follows these editorial guidelines.
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2013년 2월 1일 13:30
![각주 [1] 조정 영업손실은 매입관련 무형자산의 분할 상환 및 구조조정 비용 지출 이전에 보고된 영업 손실을 말하며, 이는 진행중인 운영상황에 대한 이해를 증진하고 보고된 영업 손](https://file.newswire.co.kr/data/datafile2/thumb/2012/10/20121025131043_1092423593.jpg "각주 [1] 조정 영업손실은 매입관련 무형자산의 분할 상환 및 구조조정 비용 지출 이전에 보고된 영업 손실을 말하며, 이는 진행중인 운영상황에 대한 이해를 증진하고 보고된 영업 손")