STMicroelectronics Reports Q2 2018 Financial Results


STMicroelectronics N.V.    
CONSOLIDATED STATEMENTS OF INCOME    
(in millions of U.S. dollars, except per share data ($))    
     
  Six months ended
  June 30, July 1,
  2018 2017
  (Unaudited) (Unaudited)
     
Net sales   4,463   3,728
Other revenues   31   16
NET REVENUES   4,494   3,744
Cost of sales   (2,695)   (2,320)
GROSS PROFIT   1,799   1,424
Selling, general and administrative   (542)   (473)
Research and development   (705)   (659)
Other income and expenses, net   26   32
Impairment, restructuring charges and other related closure costs   (20)   (11)
Total operating expenses   (1,241)   (1,111)
OPERATING INCOME   558   313
Interest expense, net   (5)   (9)
Other components of pension benefit costs   (5)   (6)
Income (loss) on equity-method investments   -   (2)
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST   548   296
Income tax expense   (44)   (34)
NET INCOME   504   262
Net income attributable to noncontrolling interest   (4)   (4)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY   500   258
     
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.56   0.29
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.55   0.28
     
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EARNINGS PER SHARE 915.1 906.5
     

 

STMicroelectronics N.V.      
CONSOLIDATED BALANCE SHEETS      
As at June 30, March 31, December 31,
In millions of U.S. dollars 2018 2018 2017
  (Unaudited) (Unaudited) (Audited)
ASSETS      
Current assets:      
Cash and cash equivalents 1,683 1,791 1,759
Short-term deposits 15 14 -
Marketable securities 429 429 431
Trade accounts receivable, net 1,106 1,042 1,149
Inventories 1,559 1,435 1,335
Other current assets 405 449 425
Total current assets 5,197 5,160 5,099
Goodwill 121 125 123
Other intangible assets, net 198 205 209
Property, plant and equipment, net 3,410 3,371 3,094
Non-current deferred tax assets 674 632 624
Long-term investments 58 58 57
Other non-current assets 391 517 475
  4,852 4,908 4,582
Total assets 10,049 10,068 9,681
       
LIABILITIES AND EQUITY      
Current liabilities:      
Short-term debt 118 119 118
Trade accounts payable 991 979 893
Other payables and accrued liabilities 887 940 897
Dividends payable to stockholders 168 6 60
Accrued income tax 40 41 52
Total current liabilities 2,204 2,085 2,020
Long-term debt 1,598 1,593 1,583
Post-employment benefit obligations 374 393 385
Long-term deferred tax liabilities 11 12 11
Other long-term liabilities 208 216 215
  2,191 2,214 2,194
Total liabilities 4,395 4,299 4,214
Commitment and contingencies      
Equity      
Parent company stockholders' equity      
Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 nominal value, 1,200,000,000 shares authorized, 911,141,920 shares issued, 901,354,389 shares outstanding) 1,157 1,157 1,157
Capital surplus 2,766 2,743 2,718
Retained earnings 1,215 1,212 973
Accumulated other comprehensive income 538 724 688
Treasury stock (89) (132) (132)
Total parent company stockholders' equity 5,587 5,704 5,404
Noncontrolling interest 67 65 63
Total equity 5,654 5,769 5,467
Total liabilities and equity 10,049 10,068 9,681
       

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