The first-quarter net loss was $84 million, or 9 cents per share, compared with year-earlier net income of $74 million, or 8 cents per share. Revenue rose to $2.48 billion from $2.28 billion, helped by growth in the company's industrial and telecommunications businesses.

STMicro shares fell 1 percent in extended trading following the earnings report after closing down 0.5 percent at $11.54 on the New York Stock Exchange.

Restructuring costs and other expenses related to the spinoff of STMicro's flash-memory unit hurt results in the period, as did the weakening of the dollar against the euro, STMicro said.

For the second quarter, the company said it expected sales growth of 5 percent to 11 percent from the first quarter's $2.18 billion, which excludes the flash-memory unit. The projected growth would result in second-quarter revenue of $2.29 billion to $2.42 billion.

STMicro announced earlier in April that it had agreed to merge its wireless chip business with that of NXP into a joint-venture it would control through an 80 percent holding. (Reporting by Philipp Gollner; editing by Tim Dobbyn

By: DocMemory
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