GENEVA (AP) -- European shares in STMicroelectronics NV declined Wednesday despite a smaller fourth-quarter net loss and climbing revenues following a difficult year for the chip maker and the sector as a whole.
Shares in the Geneva-based company were down 0.8 percent to euro6.05 on the Paris exchange after STMicroelectronics reported overnight in New York that its quarterly net loss attributable to the company totaled $70 million, or 8 cents per share. That compared with a loss of $366 million, or 42 cents per share, in the same period a year earlier.
Excluding items, the company earned 4 cents per share in the latest quarter.
On that basis, analysts polled by Thomson Reuters forecast profit of 2 cents per share.
Revenue rose 14 percent to $2.58 billion from $2.28 billion. Analysts projected sales of $2.56 billion.
"2009 has been a year of severe losses for ST but we are encouraged by the progress we made throughout the year," said President and CEO Carlo Bozotti in a statement.
The company said the fourth quarter showed improved demand across all of its business segments, particularly in Japan, China and the Americas.
For the full year, net loss attributable to the company totaled $1.13 billion, or $1.29 per share, compared with a loss of $786 million, or 88 cents per share, a year earlier. Revenue fell 14 percent to $8.51 billion from $9.84 billion.
For the first quarter, the company expects revenue to decline by 7 percent to 13 percent sequentially. Analysts are expecting $2.23 billion, a decline of 14 percent.
