STMicroelectronics Reports 2020 Second Quarter Financial Results


STMicroelectronics N.V.    
CONSOLIDATED STATEMENTS OF INCOME    
(in millions of U.S. dollars, except per share data ($))    
     
  Six months ended
  June 27, June 29,
  2020 2019
  (Unaudited) (Unaudited)
     
Net sales   4,312   4,232
Other revenues   6   17
NET REVENUES   4,318   4,249
Cost of sales   (2,743)   (2,601)
GROSS PROFIT   1,575   1,648
Selling, general and administrative   (529)   (540)
Research and development   (748)   (749)
Other income and expenses, net   48   51
Impairment, restructuring charges and other related closure costs   (9)   (2)
Total operating expenses   (1,238)   (1,240)
OPERATING INCOME   337   408
Interest income (expense), net   (3)   2
Other components of pension benefit costs   (6)   (7)
Income (loss) on equity-method investments   -   1
INCOME BEFORE INCOME TAXES AND NONCONTROLLING  INTEREST    328   404
Income tax expense   (47)   (65)
NET INCOME   281   339
Net income attributable to noncontrolling interest   1   (1)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY   282   338
     
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.32   0.38
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   0.31   0.37
     
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS 913.9 902.3
     

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