Some of these risks 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, 2022 as filed with the Securities and Exchange Commission (“SEC”) on February 23, 2023. 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 press 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.
Unfavorable changes in the above or other risks or uncertainties listed under “Item 3. Key Information — Risk Factors”
from time to time in our SEC filings, could have a material adverse effect on our business
and/or financial condition.
About STMicroelectronics
At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 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 connectivity. We are committed to achieving our goal of becoming carbon neutral by 2027. 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:
Alexis Breton
Corporate External Communications
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 | |||
| July 1, | July 2, | ||
| 2023 | 2022 | ||
| (Unaudited) | (Unaudited) | ||
| Net sales | 4,320 | 3,830 | |
| Other revenues | 6 | 7 | |
| NET REVENUES | 4,326 | 3,837 | |
| Cost of sales | (2,207) | (2,018) | |
| GROSS PROFIT | 2,119 | 1,819 | |
| Selling, general and administrative | (414) | (366) | |
| Research and development | (555) | (489) | |
| Other income and expenses, net | (4) | 40 | |
| Total operating expenses | (973) | (815) | |
| OPERATING INCOME | 1,146 | 1,004 | |
| Interest income, net | 33 | 6 | |
| Other components of pension benefit costs | (5) | (2) | |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 1,174 | 1,008 | |
| Income tax expense | (171) | (139) | |
| NET INCOME | 1,003 | 869 | |
| Net income attributable to noncontrolling interest | (2) | (2) | |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1,001 | 867 | |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1.11 | 0.96 | |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1.06 | 0.92 | |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 944.5 | 946.8 | |
