STMicroelectronics Posts Loss For Third Quarter

GENEVA (AP) — Swiss semiconductor company STMicroelectronics posted a loss for the third quarter, but said the industry is gaining momentum, with the worst of the economic crisis now over.

STMicroelectronics late Tuesday reported a loss of $201 million, or 23 cents per share, on $2.28 billion in revenue for the three months ended Sept. 26. That compares with a loss of $289 million, or 32 cents per share, on $2.69 billion in the third quarter of last year.

Wall Street on average had expected the company to lose 9 cents per share in the latest quarter, according to analysts polled by Thomson Reuters.

STMicroelectronics said it expects revenue to grow by 5 percent to 12 percent in the fourth quarter. The company said growth has resumed in the U.S. and Europe and remains strong in the Asia Pacific region, including China.

The company's shares fell 5 cents, or 0.5 percent, to $9.74 Tuesday. In after-hours trading, they rose 36 cents, or 3.7 percent to $10.10.