ST Q3 net revenue up 16.8% on 2009

ST's two largest product sectors, ACCI and IMS, both achieved record levels of sales in the quarter, with IMS surpassing $1billion dollars in quarterly sales for the first time. President and ceo, Carlo Bozotti, announced: "Our third quarter financial performance reflected high demand for our products and the effective operating leverage of our model. ST reported both revenues and gross margin above the mid-point of our guidance range. At the operating profit level, results were also very good. ACCI operating margin increased to 11.7% while IMS rose to 19.7%. These strong results are primarily due to the strengthening of our product portfolio and already meet or exceed our operating margin goals for the end of 2010. "ST-Ericsson continues to make progress in its ongoing portfolio transition and restructuring efforts and, as expected, reported sequential revenue growth of 4% and improvements of operating results."