GENEVA-STMicroelectronics said it suffered a net loss of $49.1 million, or 6 cents per share. In the year-ago period, it had net income of $131 million, or 15 cents a share.
The net loss for the quarter was after restructuring charges and a financial charge of $21.6 million related to a bond repurchase.
“We are pleased that third-quarter net revenues were above the high end of our guidance, driven by double-digit increases in digital consumer applications and flash memory products,” said Pasquale Pistorio, president and chief executive officer.
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The net revenues were $1.8 billion, a 6-percent increase over the $1.7 billion reported in the previous quarter and $1.6 in the year-ago period.
In the United Kingdom, TTP Communications plc said it had a loss of $8.4 billion for the six months ending Sept. 30, unlike the same period last year when it turned a profit. It attributed the loss to the SARS virus in Asia.