STMicroelectronics Reports 2017 Third Quarter and Nine Months Financial Results

About STMicroelectronics
ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST's products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices.

By getting more from technology to get more from life, ST stands for life.augmented.

In 2016, the Company's net revenues were $6.97 billion, serving more than 100,000 customers worldwide. Further information can be found at www.st.com.

For further information, please contact:

INVESTOR RELATIONS:
Tait Sorensen                                       
Group VP, Investor Relations
STMicroelectronics
Tel: +1 602 485 2064
tait.sorensen@st.com

MEDIA RELATIONS:
Alexis Breton                                        
Director, PR & Media Operations
STMicroelectronics
Tel: + 33 6 59 16 79 08
alexis.breton@st.com 

 

STMicroelectronics N.V.    
Consolidated Statements of Income    
(in millions of U.S. dollars, except per share data ($))    
     
  Three Months Ended
  (Unaudited) (Unaudited)
  September 30, October 01,
  2017 2016
     
Net sales   2,123   1,794
Other revenues   13   3
  NET REVENUES   2,136   1,797
Cost of sales   (1,291)   (1,154)
  GROSS PROFIT   845   643
Selling, general and administrative   (244)   (224)
Research and development   (314)   (318)
Other income and expenses, net   5   18
Impairment, restructuring charges and other related closure costs   (14)   (29)
  Total Operating Expenses   (567)   (553)
  OPERATING INCOME   278   90
Interest expense, net   (7)   (5)
Income (loss) on equity-method investments   -   (1)
Loss on financial instruments, net   (5)   -
INCOME BEFORE INCOME TAXES   266   84
  AND NONCONTROLLING INTEREST    
Income tax expense   (28)   (12)
  NET INCOME   238   72
Net income attributable to noncontrolling interest   (2)   (1)
  NET INCOME ATTRIBUTABLE TO PARENT COMPANY   236   71
     
  EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.27   0.08
  EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.26   0.08
     
  NUMBER OF WEIGHTED AVERAGE    
  SHARES USED IN CALCULATING    
  DILUTED EARNINGS PER SHARE 901.0 886.7


STMicroelectronics N.V.    
Consolidated Statements of Income    
(in millions of U.S. dollars, except per share data ($))    
     
  Nine Months Ended
  (Unaudited) (Unaudited)
  September 30, October 01,
  2017 2016
     
Net sales   5,851   5,097
Other revenues   29   16
  NET REVENUES   5,880   5,113
Cost of sales   (3,614)   (3,355)
  GROSS PROFIT   2,266   1,758
Selling, general and administrative   (718)   (681)
Research and development   (975)   (996)
Other income and expenses, net   37   73
Impairment, restructuring charges and other related closure costs   (25)   (69)
  Total Operating Expenses   (1,681)   (1,673)
  OPERATING INCOME   585   85
Interest expense, net   (16)   (15)
Income (loss) on equity-method investments   (2)   8
Loss on financial instruments, net   (5)   -
INCOME BEFORE INCOME TAXES   562   78
  AND NONCONTROLLING INTEREST    
Income tax expense   (63)   (21)
  NET INCOME   499   57
Net income attributable to noncontrolling interest   (5)   (4)
  NET INCOME ATTRIBUTABLE TO PARENT COMPANY   494   53
     
  EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.56   0.06
  EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.55   0.06
     
  NUMBER OF WEIGHTED AVERAGE    
  SHARES USED IN CALCULATING    
  DILUTED EARNINGS PER SHARE 904.7 885.4

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