On Wednesday, Shares of STMicroelectronics NV (NYSE:STM), dropped -2.13% to $9.18.
Today, STMicroelectronics stated financial results for the first quarter ended March 28, 2015.
First quarter revenues were slightly better than ST’s usual seasonality decreasing 6.8% on a sequential basis, although reflecting the impact of the U.S. dollar strengthening on about 15% of our revenues that are Euro-denominated and lower sales of components for PC applications than anticipated.
On a year-over-year basis, first quarter revenues reduced 6.6% and, not taking into account legacy ST-Ericsson products and the one-time $15 million payment to ST from a patent settlement benefiting the Analog & MEMS (AMS) product line within the SP&A segment in the year-ago quarter, reduced 3.6%.
Microcontroller, Memory, and Secure MCU (MMS) led the product lines with year-over-year revenue growth of 8.0%.
On a year-over-year basis by region of shipment, Greater China & South Asia, EMEA and the Americas reduced by 3.7%, 3.8%, and 3.9%, respectively. Japan & Korea revenues were lower by 22.2% mainly driven by the decline of legacy ST-Ericsson products.
First quarter gross profit was $566 million and gross margin was 33.2%. Gross margin improved 40 basis points year-over-year, benefiting from manufacturing efficiencies and favorable currency effects, net of hedging, partially offset by price pressure and by about 80 basis points of unused capacity charges mainly related to manufacturing capacity in digital technology. Gross margin reduced 60 basis points sequentially due to price pressure partially offset by favorable currency effects, net of hedging. In the first quarter of 2015, unused capacity charges, largely related to digital technology, had a negative impact on the gross margin of about 110 basis points.
Combined R&D and SG&A expenses were $591 million contrast to $606 million in the year-ago quarter mainly due to favorable currency effects, net of hedging. On a sequential basis, combined R&D and SG&A expenses reduced 3.3% benefiting from a lower number of days in the quarter and favorable currency effects, net of hedging.
STMicroelectronics N.V. designs, develops, manufactures, and markets various semiconductor integrated circuits and discrete devices worldwide. The company offers a range of semiconductor products, counting discrete and standard commodity components, application-specific integrated circuits, full-custom devices and semi-custom devices, micro-electro-mechanical systems, microcontrollers, sensors, digital consumer products, imaging products, memory products, media application processors, and application-specific standard products for analog, digital, and mixed-signal applications, in addition to silicon chips and smartcards.
Shares of The Hershey Company (NYSE:HSY), declined -2.13% to $91.37, during its last trading session.
The Board of Directors of The Hershey Company, declared quarterly dividends of $0.535 on the Common Stock and $0.486 on the Class B Common Stock. The dividends are payable June 15, 2015, to stockholders of record May 26, 2015. It is the 342nd successive regular dividend on the Common Stock and the 123rd successive regular dividend on the Class B Common Stock.
The Hershey Company manufactures, imports, markets, distributes, and sells confectionery products. The company operates through two segments, North America; and International and Other.
At the end of Wednesday’s trade, Shares of Ruckus Wireless, Inc. (NYSE:RKUS), dwindled -2.12% to $12.02.
Ruckus Wireless, declared that it has successfully deployed and is operating a Smart Wi-Fi wireless network based on Wave 2 features of the 802.11ac standard at the annual Interop Las Vegas show, the leading independent technology conference and expo designed to inspire, inform, and connect the world’s IT community. Using the new Ruckus ZoneFlex™ R710 access point (AP), the world’s first Wi-Fi AP based on Wave 2 features of the 802.11ac standard, offered free-of-charge by Ruckus, this network is demonstrating the Wi-Fi performance and capacity that the ZoneFlex R710 delivers to over 12,000 show participants during this year’s Convention and Expo.
Initial performance statistics of the Interop Ruckus 802.11ac Wave 2 enabled Smart Wi-Fi network on Day 1 of the Interop Las Vegas Expo (Tuesday, April 28) showed there were 2,790 unique concurrent devices connected during peak usage time, with nearly 1 TB of data transferred, operating in the face of over 4,000 interfering rogue devices.
Ruckus Wireless, Inc. provides carrier-class Wi-Fi solutions to service providers and enterprises worldwide. It provides gateways, controllers, and access points with related software and services.
Finally, Brocade Communications Systems, Inc. (NASDAQ:BRCD), ended its last trade with -2.07% loss, and closed at $11.82.
Today, Brocade Communications declared it is redefining networking for IP storage systems with the industry’s first purpose-built storage connectivity portfolio for both data center and disaster recovery applications to assist enterprise IT teams manage growth, mitigate risk, and reduce costs. EMC will continue to work to integrate new IP storage technology features to the EMC® Connectrix® family of network switches and administration software.
The Brocade VDX 6740 switch, which was added to the EMC Connectrix family in February, redefines network visibility and agility with superior automation and simplicity. The introduction of Fabric Vision™ technology enables advanced policy-based monitoring and alerting based on nearly 20 years of Brocade experience and best practices in a single click. IT staff will be able to quickly deploy a resilient and high-performance storage network through zero-touch, self-forming fabrics. In addition, they can automatically provision network capacity with minimal intervention and virtually no learning curve.
The Brocade 7840 extension switch has been improved to support IP, in addition to Fibre Channel, to provide fast and secure connectivity for IP storage between data centers, enabling organizations to better meet their disaster recovery objectives. It enables the equivalent of local replication performance, but delivers it over long distances with strong encryption to address disaster recovery requirements.
Brocade Communications Systems, Inc. provides storage area networking (SAN) and Internet protocol networking solutions for businesses and organizations worldwide. It operates through SAN Products, IP Networking Products, and Global Services segments.
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