STMicroelectronics Reports 2021 Second Quarter Financial Results


STMicroelectronics N.V.      
CONSOLIDATED STATEMENTS OF INCOME      
(in millions of U.S. dollars, except per share data ($))      
       
  Six months ended  
  July 3, June 27,  
  2021 2020  
  (Unaudited) (Unaudited)  
       
Net sales                     5,995                    4,312  
Other revenues                          13                           6  
NET REVENUES                     6,008                    4,318  
Cost of sales                   (3,621)                  (2,743)  
GROSS PROFIT                     2,387                    1,575  
Selling, general and administrative                      (648)                     (529)  
Research and development                      (888)                     (748)  
Other income and expenses, net                          76                         48  
Impairment, restructuring charges and other related closure costs                            2                         (9)  
Total operating expenses                   (1,458)                  (1,238)  
OPERATING INCOME                        929                       337  
Interest expense, net                        (16)                         (3)  
Other components of pension benefit costs                          (5)                         (6)  
Gain (loss) on financial instruments, net                            2                            -  
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST                        910                       328  
Income tax expense                      (131)                       (47)  
NET INCOME                        779                       281  
Net (income) loss attributable to noncontrolling interest                          (3)                           1  
NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS                        776                       282  
       
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS                       0.86                      0.32  
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS                       0.84                      0.31  
       
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS 929.5 913.9  
       

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