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BRIEF-STMicroelectronics Q1 results beat Reuters poll
April 27, 2017 / 5:23 AM / 8 months ago

BRIEF-STMicroelectronics Q1 results beat Reuters poll

April 27 (Reuters) - STMicroelectronics NV:

* Reports 2017 first quarter financial results

* Q1 net revenues totaled $1.82 billion, gross margin was 37.6%, and net income was $108 million, or $0.12 per share

* Cash dividend of $0.24 per common share payable in equal quarterly installments to be proposed to 2017 annual general meeting of shareholders

* Q1 net revenues of $1.82 billion, up 12.9% year-over-year on growth across all product groups (Reuters poll: $1.82 billion)

* Q1 operating profit (US GAAP) $129 million versus $118 million in Reuters poll

* Q1 gross margin (us gaap) 37.6 percent versus 33.4 percent year ago

* Q1 net profit group share (US GAAP) $108 million versus $94.3 million in Reuters poll

* Q1 free cash flow (non us gaap) $62 million versus $31 million year ago

* Expects Q2 2017 revenues to increase about 5.0 pct on a sequential basis, plus or minus 3.5 percentage points

* Gross margin in Q2 is expected to be about 38.1 pct plus or minus 2.0 percentage points

* Entering Q2, we continue to see healthy demand, with strong booking trends across all our product groups and regions - CEO

* “Entering Q2, we continue to see healthy demand, with strong booking trends across all our product groups and regions”

* “Results in this first quarter are putting us on the right trajectory” for 2017 objectives - CEO Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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