Vendor results - 26/04/06

NEC has lowered its FY2005 net profit projection to $111m, down 78%, as well as its revenues to $41bn (down 4%), due to expanding loss in its NEC Electronics semiconductor unit, and weak broadband and IT solution sales.

Lucent posts 1Q06 net income of $181m (down32% ) on revenues of $2.1bn (down 8%).

ZTE (China) announced a 86% plunge of its 1Q06 net income to $4.2m, on revenues of $574m (+5%), of which mobile revenues amounted to 30% of total revenues.

STMicroelectronics reports 1Q06 revenues of $2.4bn, up 13.5%, gross margin of 35% (+2.5 points), an operating income of $140m (vs loss of $68m) and a net income of $132m (vs loss of $31m).