STMicroelectronics N.V.
Consolidated Statements of Income
(in million of U.S. dollars, except per
share data ($))
Three Months Ended
------------------
(Unaudited) (Unaudited)
----------- -----------
June 27, June 28,
2009 2008
---- ----
Net sales 1,970 2,379
Other revenues 23 12
-- --
NET REVENUES 1,993 2,391
Cost of sales (1,473) (1,511)
------ ------
GROSS PROFIT 520 880
Selling, general and administrative (286) (281)
Research and development (610) (470)
Other income and expenses, net 34 30
Impairment, restructuring charges and other
related closure costs (86) (185)
--- ----
Total Operating Expenses (948) (906)
---- ----
OPERATING LOSS (428) (26)
Other-than-temporary impairment charge on
financial assets (13) (39)
Interest income, net 1 19
Loss on equity investments (49) (5)
--- --
LOSS BEFORE INCOME TAXES (489) (51)
AND NONCONTROLLING INTEREST
Income tax benefit 62 5
-- -
LOSS BEFORE NONCONTROLLING INTEREST (427) (46)
Net loss (income) attributable to
noncontrolling interest 109 (1)
--- --
NET LOSS ATTRIBUTABLE TO PARENT COMPANY (318) (47)
==== ===
LOSS PER SHARE (BASIC) ATTRIBUTABLE TO
PARENT COMPANY SHAREHOLDERS (0.36) (0.05)
LOSS PER SHARE (DILUTED) ATTRIBUTABLE TO
PARENT COMPANY SHAREHOLDERS (0.36) (0.05)
NUMBER OF WEIGHTED AVERAGE
SHARES USED IN CALCULATING 876.6 900.5
LOSS PER SHARE
STMicroelectronics N.V.
Consolidated Statements of Income
(in million of U.S. dollars, except per
share data ($))
Six Months Ended
----------------
(Unaudited) (Unaudited)
----------- -----------
June 27, June 28,
2009 2008
---- ----
Net sales 3,627 4,841
Other revenues 26 28
-- --
NET REVENUES 3,653 4,869
Cost of sales (2,696) (3,090)
------ ------
GROSS PROFIT 957 1,779
Selling, general and administrative (566) (585)
Research and development (1,168) (978)
Other income and expenses, net 98 39
Impairment, restructuring charges and other
related closure costs (142) (369)
---- ----
Total Operating Expenses (1,778) (1,893)
------ ------
OPERATING LOSS (821) (114)
Other-than-temporary impairment charge on
financial assets (72) (69)
Interest income, net 2 40
Loss on equity investments (281) (5)
Loss on sale of financial assets (8) -
-- -
LOSS BEFORE INCOME TAXES (1,180) (148)
AND NONCONTROLLING INTEREST
Income tax benefit 157 19
--- --
LOSS BEFORE NONCONTROLLING INTEREST (1,023) (129)
Net loss (income) attributable to
noncontrolling interest 163 (2)
--- --
NET LOSS ATTRIBUTABLE TO PARENT COMPANY (860) (131)
==== ====
LOSS PER SHARE (BASIC) ATTRIBUTABLE TO
PARENT COMPANY SHAREHOLDERS (0.98) (0.15)
LOSS PER SHARE (DILUTED) ATTRIBUTABLE TO
PARENT COMPANY SHAREHOLDERS (0.98) (0.15)
NUMBER OF WEIGHTED AVERAGE
SHARES USED IN CALCULATING 875.5 900.1
LOSS PER SHARE
STMicroelectronics N.V.
CONSOLIDATED BALANCE SHEETS
As at June 27, March 28, December 31,
In million of U.S. dollars 2009 2009 2008
---- ---- ----
(Unaudited) (Unaudited) (Audited)
----------- ----------- ---------
ASSETS
======
Current assets:
Cash and cash equivalents 1,685 1,480 1,009
Marketable securities 759 988 651
Short-term deposits
Trade accounts receivable, net 1,228 1,101 1,064
Inventories, net 1,449 1,656 1,840
Deferred tax assets 298 248 252
Assets held for sale 32 0 0
Other receivables and assets 1,051 896 685
----- --- ---
Total current assets 6,502 6,369 5,501
Goodwill 1,108 1,121 958
Other intangible assets, net 878 894 863
Property, plant and equipment, net 4,247 4,341 4,739
Long-term deferred tax assets 339 319 373
Equity investments 328 376 510
Restricted cash 250 250 250
Non-current marketable securities 170 184 242
Other investments and other non-
current assets 388 337 477
--- --- ---
7,708 7,822 8,412
Total assets 14,210 14,191 13,913
------ ------ ------
LIABILITIES AND SHAREHOLDERS' EQUITY
====================================
Current liabilities:
Bank overdrafts 0 3 20
Current portion of long-term debt 174 159 123
Trade accounts payable 873 707 847
Other payables and accrued
liabilities 1,014 1,037 996
Dividends payable to shareholders 79 0 79
Deferred tax liabilities 51 30 28
Accrued income tax 131 121 125
--- --- ---
Total current liabilities 2,322 2,057 2,218
-----
Long-term debt 2,485 2,486 2,554
Reserve for pension and
termination indemnities 336 313 332
Long-term deferred tax liabilities 24 26 27
Other non-current liabilities 377 355 350
--- --- ---
3,222 3,180 3,263
Total liabilities 5,544 5,237 5,481
Commitment and contingencies
Equity
Parent company shareholders' 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, 910,319,305 shares
issued, 878,292,739 shares outstanding) 1,156 1,156 1,156
Capital surplus 2,464 2,455 2,324
Accumulated result 2,995 3,521 4,064
Accumulated other comprehensive
income 1,108 890 1,094
Treasury stock (378) (480) (482)
---- ---- ----
Total parent company
shareholders' equity 7,345 7,542 8,156
Noncontrolling interest 1,321 1,412 276
----- ----- ---
Total equity 8,666 8,954 8,432
----- ----- -----
Total liabilities and equity 14,210 14,191 13,913
------ ------ ------
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STMicroelectronics Reports 2009 Second Quarter and First Half Financial Results
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