STM revenues in year-over-year growth

Semiconductor company ST Microelectronics has reported financial results for the 2010 first quarter ended March 27, 2010, announcing net income of $57m (£37m) or $0.06 per share.

In a year-over-year comparison, net revenues increased by 40.1 per cent and were led by the company’s IMS and ACCI product segments – with 60 and 47 per cent growth respectively.

All regions and market segments posted double-digit revenues growth, with Greater China-South Asia and America posting the strongest regional results – with revenues rising 60 and 49 per cent respectively.