Every dollar of sales is costing ST-Ericsson 50 cents. Q4 had sales of $409m for a loss of $207m.
The debt at ST-Ericsson has now risen to $800m.
For Q1 2012, ST-E is expecting “a very significant sequential decline in net sales.”
The Q4 sales of $409m compared to Q3’s $412m and Q4 2010’s $577m.
The Q4 2011 loss of $207m compared to Q3’s $194m loss and Q4 2010’s $119m loss.
Q4 cash-flow was minus $182m compared to minus $149m in Q3 and minus $101m in Q4 2010.
ST-E has been sinking since its formation in 2008 and its beginning of trading in February 2009.
ST-E’s Q3 loss of $211m on sales of $412m represented a decline of 27% on Q3 2010 sales of $565m while the loss compared to a Q3 2010 loss of $121m.
The Q2 2011 net loss was $221m compared with a loss of $139m in Q2 2010; sales were $385m compared with $444m in Q1 2011 and with $544m in Q2 2010.
The company’s Q1 2011 sales of $444m were down on Q4 2010 sales of $577m and on Q1 2010 sales of $606m.
The Q1 2011 loss was $149m compared to the Q4 2010 loss of $119m and the Q1 2010 loss of $114m.
The company has had four job-cutting rounds since its formation. In November 2008, the company cut operating expenses by $250m in an initial round of restructuring.
Then, in April 2009, the company said it would cut 1,200 jobs expected to save $230m in costs. Later that year a further 600 jobs could be cut with the aim of saving a further $115m. Last year it announced a reduction of 500 jobs to save $120m in costs.