ST-Ericsson announces first-quarter sales

ST-Ericsson, a joint venture of ST Microelectronics and Ericsson, has reported financial results for the first fiscal quarter of 2010,
which show a decrease in net sales over the last quarter, at $606m (£393m) compared with $740m, but an increase over the $562m posted for the same quarter in 2009.

Operating income showed growth compared with last quarter – $164m versus $139m – but was down from the $179m reported in the first quarter last year.

Net income was $154m, up from $125m in the last quarter of 2009.