Combined SG&A and R&D expenses were $876 million in the first quarter of 2010, compared to $906 million in the prior quarter and $837 million in the year-ago quarter. Combined operating expenses, as a percentage of sales, were 37.7% vs. 35.1% in the prior quarter, and 50.5% in the year-ago quarter.
Related to the Company's cost-realignment initiatives, ST posted first quarter restructuring and impairment charges of $33 million, of which $25 million were related to ST-Ericsson. ST posted restructuring and impairment charges of $96 million and $56 million in the prior quarter and year-ago period, respectively.
Revenues and Operating Results by Product Segment
The following table provides a breakdown of revenues and operating results by product segment. Unused capacity charges are reflected in the segment "Others" in the respective quarters.
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Operating Segment
| Q1 2010
| Q1 2010
| Q4 2009
| Q4 2009
| Q1 2009
| Q1 2009
| |
ACCI (a) | 909 | 48 | 980 | 62 | 620 | (28) | |
IMS (a) | 811 | 92 | 871 | 85 | 506 | 5 | |
Wireless (b) | 587 | (116) | 712 | (48) | 518 | (107) | |
Others (c)(d) | 18 | (44) | 20 | (105) | 16 | (263) | |
| TOTAL | 2,325 | (20) | 2,583 | (6) | 1,660 | (393) | |
| (a)Reflecting the transfer of a small business unit from ACCI to IMS, the Company has reclassified prior period revenues and operating income results of ACCI and IMS. (b) As of February 3, 2009, "Wireless" includes the porti on of sales and operating results of the ST-Ericsson joint venture as consolidated in the Company's revenues and operating results, as well as other items affecting operating results related to the wireless business. (c) Net revenues of "Others" includes revenues from sales of Subsystems, assembly services and other revenues. (d) Operating income (loss) of "Others" includes items such as unused capacity charges, impairment, restructuring charges, and other related closure costs, start-up and phase-out costs, and other unallocated expenses such as: strategic or special research and development programs, certain corporate-level operating expenses, patent claims and litigations, and the other costs that are not allocated to product groups, as well as operating earnings or losses of the Subsystems and Other Products Group. "Others" includes $1 million, $13 million and $139 million of unused capacity charges in the first quarter of 2010 and fourth and first quarters of 2009, respectively; and $33 million, $96 million and $56 million of impairment and restructuring charges in the first quarter of 2010 and fourth and first quarters of 2009, respectively. | |||||||
