GENEVA (dpa-AFX) - STMicroelectronics NV (STM) Thursday reported net loss of $97 million or $0.11 per share for the second quarter, compared with net income of $353 million or $0.38 per share in the same quarter a year ago, primarily due to decrease in revenues as well as charges related to impairment, restructuring, and other related phase-out costs.
Excluding special items, the company posted adjusted profit of $57 million or $0.06 per share, lower than $353 million or $0.38 per share last year.
Operating loss was $133 million compared with profit of 375 million in the prior year. On an adjusted basis, operating income was $57 million, down from $375 million a year ago.
Revenue for the quarter declined 14.4% to $2.766 billion from $3.232 billion in the previous year, due to decline in revenues in all segments.
For the third quarter, the company expects revenue to be about $3.17 billion, 2.5% down year-over-year.
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