STMicroelectronics Reports 2020 Second Quarter Financial Results

Some of these risk factors are set forth and are discussed in more detail in “Item 3. Key Information — Risk Factors” included in our Annual Report on Form 20-F for the year ended December 31, 2019, as filed with the SEC on February 26, 2020. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. We do not intend, and do not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.

About STMicroelectronics

At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with our 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at www.st.com.

For further information, please contact:

INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel: +41 22 929 58 12
celine.berthier@st.com

MEDIA RELATIONS:
Nelly Dimey
Media Communications Director                                    
Tel: + 33 1 58 07 77 85
nelly.dimey@st.com

STMicroelectronics N.V.    
CONSOLIDATED STATEMENTS OF INCOME
 
 
(in millions of U.S. dollars, except per share data ($))    
     
  Three months ended
  June 27, June 29,
  2020 2019
  (Unaudited) (Unaudited)
     
Net sales   2,084   2,160
Other revenues   3   13
NET REVENUES   2,087   2,173
Cost of sales   (1,357)   (1,343)
GROSS PROFIT   730   830
Selling, general and administrative   (259)   (269)
Research and development   (373)   (381)
Other income and expenses, net   12   18
Impairment, restructuring charges and other related closure costs   (4)    (2)
Total operating expenses   (624)   (634)
OPERATING INCOME   106   196
Interest expense, net   (4)   -
Other components of pension benefit costs   (3)   (3)
Income (loss) on equity-method investments   -   -
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST   99   193
Income tax expense   (8)   (33)
NET INCOME   91   160
Net income attributable to noncontrolling interest   (1)   -
NET INCOME ATTRIBUTABLE TO PARENT COMPANY   90   160
     
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.10   0.18
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.10   0.18
     
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS 911.1 901.7
     

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