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STMicroelectronics

STMicroelectronics Reports 2005 Third Quarter and Nine Month Revenues and Earnings

Geneva, Switzerland (ots/PRNewswire)

- All figures in US Dollars $
STMicroelectronics (NYSE: STM) reported financial results for the
third quarter and nine months ended October 1, 2005.
Revenues, Gross Profit, and Margin Review
Net revenues for the third quarter were $2,247 million, up 3.9%
sequentially from the $2,162 million reported in the prior quarter,
and 0.7% above the $2,231 million reported in last year's third
quarter. Sequential sales growth was primarily driven by wireless and
computer peripheral applications, both of which also experienced
strong double-digit, year-over-year sales growth.
Gross profit increased 7.3% to $766 million from $714 million in
the second quarter of 2005. Gross margin was 34.1% in the third
quarter compared to 33.0% in the prior quarter. Enhanced product mix
and manufacturing performance drove the improvements in gross profit
and gross margin, more than offsetting continuing price pressure,
especially in memory and standard products.
Operating Expenses
Research and development expenses in the third quarter were $401
million compared to $423 million in the prior quarter. Selling,
general, and administrative expenses were $248 million for the 2005
third quarter, down from $255 million in the prior quarter. Combined
SG&A and R&D expenses in the third quarter were 28.9% of net
revenues, improving from 31.4% in the second quarter. The decrease in
operating expenses was largely attributable to specific cost-control
actions coupled with seasonal factors.
Operating Income, Net Income, and Earnings per Share
For the 2005 third quarter, the Company reported operating income
of $102 million and net income of $89 million, or $0.10 per share. In
the prior quarter the Company reported operating income of $12
million and net income of $26 million, or $0.03 per share.
The Company posted $12 million of impairment, restructuring
charges, and other related closure costs during the 2005 third
quarter. In the prior quarter, restructuring related expenses were
$22 million.
In the third quarter, the effective average exchange rate for the
Company was approximately $1.30 to EUR1, similar to second quarter
levels.
Cash Flow and Balance Sheet Highlights
Net cash from operating activities in the third quarter was $475
million compared to $409 million in the prior quarter. Capital
expenditures were $284 million in the 2005 third quarter, compared to
$363 million in the prior quarter. Net operating cash flow* for the
third quarter increased to $173 million, compared to $23 million in
the second quarter.
At October 1, 2005, ST had cash, cash equivalents, and marketable
securities of $1.77 billion. Total debt was $1.84 billion; net
financial debt was reduced from $276 million at the end of the prior
quarter to $71 million at October l, 2005; shareholders' equity was
$8.4 billion.
(*) Net operating cash flow is defined as net cash from operating
activities ($475 million in the third quarter of 2005) minus net cash
used in investing activities ($302 million in the third quarter of
2005) excluding payments for purchase of and proceeds from the sale
of marketable securities ($0 in the third quarter of 2005).
President and CEO Remarks
Carlo Bozotti, President and Chief Executive Officer commented,
"ST's third quarter financial performance, which was well in line
with our outlook, showed sequential improvements in revenues, gross
margin, and earnings per share. Additionally, we were pleased by the
significant increase in net operating cash flow resulting from our
capital management.
The quarter was also a period of steady progress across all of our
key objectives:
  • ST had a good level of sequential sales growth in several key markets, led by wireless. The effort to expand the key customer base also continued to gain momentum. In addition, reflecting the importance of China and ST's leading presence there, we created a new regional organisation focused exclusively on this key market;
  • On the product front, we continue to gain traction in the acceptance of our new products. From wireless connectivity ASSP solutions to a new wave of high-definition digital consumer offerings, we are compiling important design wins which will help drive sales and margin improvement in 2006 and beyond;
  • Finally, our manufacturing cost-reduction initiatives are moving forward steadily and contributed to the improved results in the quarter.
In summary, we are on track with our roadmap to improve overall
corporate performance. Our efforts are starting to become visible
with improvements in most of our key metrics to date. Nonetheless,
there is more work to be done."
Additional Third Quarter 2005 Financial and Operating Data
The following tables and commentary provide a breakdown of
revenues and operating income (loss) by product group and segment
revenues by targeted market.
Net Revenues and Operating Income (Loss) by Group:
    In Million US$                                Q3 2005
                                                                    Operating
                                                Net       % of Net  income
    Group                                       Revenues  Revenues  (loss)
    Application Specific Product Groups (a)     1,263     56.2%        81
    MLD (Microcontroller, Linear & Discrete
    Group)                                        472     21.0%        68
    MPG (Memory Products Group)                   501     22.3%       (17)
    Others (1)(2)                                  11      0.5%       (30)
    Total                                       2,247    100%         102
GENEVA, Switzerland, October 25 /PRNewswire/ --
(a) Automotive; Computer Peripheral; and Home, Personal, and
Communication products
(1) Net revenues of "Others" include revenues from sales of
Subsystems and other products not allocated to product groups.
(2) Operating loss of "Others" includes items such as impairment,
restructuring charges, and other related closure costs, start-up
costs, and other unallocated expenses such as strategic or special
research and development programs, certain corporate-level operating
expenses, certain patent claims and litigations, and other costs that
are not allocated to the product groups, as well as operating
earnings or losses of the Subsystems and Other Products Group.
Certain costs, mainly R&D, formerly in the "Others" category, have
been allocated to the groups.
All product groups increased revenues and improved their operating
margins on a sequential basis. Application Specific Product Groups'
revenue increased 2.3% sequentially, and operating profit increased
nearly 13% to $81 million. MLD sales were up 2.7% and operating
income was up nearly 5%. MPG sales grew 10.5% sequentially and the
group had an operating loss of $17 million, a significant improvement
from the $66 million loss recorded in the prior quarter. Flash memory
sales increased 17% sequentially to $345 million.
Q3 2005 Net Revenues Breakdown by Market Segment
The following table estimates, within a variance of 5% to 10% in
the absolute dollar amount, the relative weighting of each of the
Company's target market segments in the third quarter of 2005.
% of Net Revenues
    Automotive             15%
    Consumer               17%
    Computer               18%
    Telecom                36%
    Industrial & Others    14%
GENEVA, Switzerland, October 25 /PRNewswire/ --
Three of the five market segments experienced sequential sales
increases, with both Telecom and Computer growing faster than the
Company average of 3.9%. Specifically, Telecom, the Company's largest
segment, grew approximately 9% followed by Computer which grew
approximately 8%. Consumer reported a slight sequential increase of
approximately 1%. Automotive declined approximately 4% while
Industrial & Others was essentially flat.
First Nine Months 2005 Results
Net revenues for the first nine months of 2005 were $6,493
million, an increase of 0.9% over the 2004 first nine months revenues
of $6,432 million. Gross profit was $2,165 million, or 33.3% of net
revenues, compared to $2,376 million or 36.9% of net revenues for the
2004 first nine months. Operating income was $47 million compared to
$473 million in last year's first nine months. Net income was $83
million, or $0.09 per share, compared to net income of $414 million,
or $0.45 per diluted share in last year's first nine months. Net
income included $137 million of aggregate charges for pre-tax
impairment, restructuring charges, other related closure costs, and
one-time compensation charges for the 2005 first nine months compared
to $57 million of charges for pre-tax impairment, restructuring
charges and other related closure costs for the 2004 first nine
months.
Research and development expenses were $1,228 million, compared to
$1,131 million in the 2004 first nine months. Selling, general, and
administrative expenses were $766 million compared to $702 million in
the same period in 2004.
Capital expenditures for the first three quarters of 2005 were
$1,211 million, consistent with the 2005 full year capital budget of
$1.5 billion.
In the 2005 first nine months, the effective average exchange rate
for the Company was approximately $1.30 to EUR1, compared to $1.23 to
EUR1 in last year's first nine months.
First Nine Months 2005 Net Revenues and Operating Income (Loss) by
Group:
    In Million US$                                First Nine Months 2005
                                                                    Operating
                                                Net       % of Net  income
    Group                                       Revenues  Revenues  (loss)
    Application Specific Product Groups (a)     3,686     56.8%      218
    MLD (Microcontroller, Linear & Discrete
    Group)                                      1,388     21.4%      204
    MPG (Memory Products Group)                 1,375     21.2%     (145)
    Others (1)(2)                                  44      0.6%     (230)
    TOTAL                                       6,493    100%         47
GENEVA, Switzerland, October 25 /PRNewswire/ --
(a) (1) and (2) defined in a previous table
Outlook
Mr. Bozotti observed, "We believe that moderate industry growth
will continue into the final quarter of 2005 and through 2006. Within
these dynamics, we expect that ST will continue to make solid
progress in improving the performance of the Company thanks to our
ongoing marketing, R&D, and cost actions.
Accordingly, we expect that ST's sequential revenue growth in the
fourth quarter will be in the range between 3% and 9%. Gross margin
for the fourth quarter is expected to be about 36%, plus or minus one
percentage point."
This guidance is based on an effective currency exchange rate for
the Company of approximately $1.22 = EUR1, which reflects current
exchange rate levels combined with the impact of existing hedging
contracts.
Products, Technology and Design Wins
  • In the digital consumer field, the company gained multiple design wins for both the STB7100 and STi7109 single-chip H.264 high-definition TV (HDTV) decoders with various OEMs addressing the worldwide operator market. Volume production of the STB7100 HD decoder is also ramping up in 90nm technology for use in IP set-top boxes (STBs) from major European operators. And, in the European cable market, multiple operators have adopted the STB5100 as the CPU/decoder solution for interactive DOCSIS-based set-top boxes.
  • ST announced its first range of STB decoders to embed Secure Video Processor (SVP) capability, the next-generation open specification for the protection of digital-video content. The two new devices - the STB5525, which is also ST's first single-chip solution to support dual TV and dual DVR (Digital Video Recorder) requirements in standard-definition STBs, and the STB5524, which targets the growing DVR market - are ideal for satellite, cable, and terrestrial TV services.
  • The Company announced the STx5300 family of MPEG-2 decoder chips for low-cost STBs and DVD recording that anticipate the increasing demands of interactive TV applications by increasing the available computing power by over five times compared to earlier devices. The chip uses the company's most advanced processor core, the ST200 VLIW (Very Long Instruction Word) family, whose high performance has been certified at 300MHz by the Embedded Microprocessor Benchmark Consortium and is intended for use in high-performance multimedia System-on-Chip (SoC) devices.
  • ST gained further success in Bluetooth as the company's single-chip STLC2500 recorded several design wins with major mobile phone manufacturers. And in audio applications, Taiwanese company TwinMos selected ST's audio Bluetooth chipset for its high-quality audio wireless applications, and has started production of Bluetooth wireless speakers and audio dongles.
  • In imaging, ST's 2-megapixel SMIA-based camera modules and image processors are now in volume production for use in mobile phones.
  • In the wireline infrastructure area, ST won a major ASIC design, which will be implemented in ST's leading-edge 65nm process technology. This design, won with a large telecomms customer, confirms the leading role played by ST in state-of-the-art ASICs.
  • For healthcare applications, ST introduced a lab-on-chip application for DNA-based detection of sepsis-causing bacteria, using a diagnostic panel from ST's bio-tech partner, Mobidiag, and running on ST's In-Check platform. Providing faster and more reliable results at a fraction of the cost and complexity of conventional laboratory systems, the miniaturised solution enables early detection of disease, resulting in better patient treatment choices and lower costs for healthcare systems.
  • In automotive, ST's strategic partnership with Bosch has been reinforced with the signature of an agreement for ST's next-generation BCD6S smart power process. Also in smart power, ST gained a significant design win in battery charging from an important European OEM.
  • In the power train area, ST won designs for several new kits with two major American OEMs for the European and American markets. In the car body area, ST signed with a major North American OEM for an advanced smart body-control module.
  • In car safety, ST has extended its reach into the Japanese market by winning a design from an important new OEM. Also in car safety, ST won a design for a new ABS chipset with a major American OEM for the worldwide market.
  • In car radio and multimedia, ST won a design for an advanced digital-input audio power amplifier with a leading North American customer for the 2007 model year. And finally in automotive, ST announced that it had shipped a cumulative total of approximately 10.5 million XM Satellite Radio Baseband Decoders to radio manufacturers, since starting production in 2001. The 10.5 million XM Radio decoders have been delivered to equipment manufacturers including Delphi and Pioneer, for vehicle, portable and home radio receivers.
  • In peripherals, ST started shipments of an advanced SATA (Serial ATA) SoC to a major hard-disk drive manufacturer. Additionally, ST, in conjunction with Synopsys, conducted and successfully completed interoperability testing of its 90nm SATA MIPHY (Multi-Interface PHY) Physical Layer interface macro-cell, aimed at designers integrating SATA functions into SoC designs for hard-disk drive applications.
  • In smart cards, ST announced that its established ST22L128 32-bit secure microcontroller has received "Common Criteria" security certification at Evaluation Assurance Level EAL5+ (Augmented), the first 0.18-micron 32-bit secure MCU to be certified at this level.
  • ST announced volume production of the ST19WP18 Trusted Platform Module, and confirmed that more than one million of the TCG 1.2 (Trusted Computing Group) solutions, complete with software stack, had been delivered to a number of major PC motherboard makers.
  • In RFID, ST introduced an ultra-high frequency contactless memory chip, compliant with the latest Electronic Product Code(TM) (EPC) specifications. ST's XRAG2 RFID chip delivers interoperability, enhanced security, and optimised performance for next-generation supply-chain and logistics applications.
  • In NOR Flash, multiple leading mobile phone manufacturers started platform development based on ST's 90nm 2-bit per cell 512-Mbit NOR Flash. In NAND Flash, ST started high-volume shipments of 1.8V 2-Gbit NAND Flash in 90nm technology to a market-leading multimedia-phone manufacturer. Also, production of ST's 128-Mbit NAND Flash device was transferred to 90nm process technology. The shrink to 90nm reduces both the cost and the power consumption of the memory chip, which is widely used in consumer equipment such as digital still cameras, audio recorders, PDAs, STBs, printers, and bundled Flash cards.
  • In microcontrollers, ST won a design for its ST7232A 8-bit microcontroller at one of the top five Chinese air-conditioner manufacturers. ST also expanded its family of USB MCUs with new products in its ST7263B series, which has become the reference solution for a range of USB-based peripheral products. ST also announced 8-bit ST7Lite Flash microcontrollers for control applications, adding new embedded peripherals to the established ST7Lite feature set.
  • In power, ST introduced a reference-design platform for the emerging electronic power-meter market. The versatility and low-cost provided by electronic meters allows manufacturers to implement features that were impractical with older mechanical designs, such as protecting against meter tampering and theft of service; and automatic meter reading.
  • ST won an important design with a major North American server manufacturer for its low-voltage power MOSFET, the STSJ100NHS3LL, which is implemented in ST's proprietary STripFET(TM) III technology. ST also announced production of the first devices built using the second generation of its MDmesh(TM) high-voltage power MOSFET technology.
  • In high-end analogue ICs, ST gained a design-win with a major Asian manufacturer for its new Gamma-Correction circuit for LCD panel applications.
Some of the statements contained in this release that are not
historical facts are statements of future expectations and other
forward-looking statements (within the meaning of Section 27A of the
Securities Act of 1933 or Section 21E of the Securities Exchange Act
of 1934, each as amended) based on management's current views and
assumptions and involve known and unknown risks and uncertainties
that could cause actual results, performance, or events to differ
materially from those in such statements due to, among other factors:
  • future developments of the world semiconductor market, in particular the future demand for semiconductor products in the key application markets and from key customers served by our products;
  • pricing pressures, losses, or curtailments of purchases from key customers as well as inventory adjustments from distributors or other customers;
  • changes in the exchange rates between the US Dollar and the Euro, compared to the effective exchange rate of approximately $1.22= EUR , and between the US Dollar and the currencies of the other major countries in which we have our operating infrastructure;
  • our ability to develop new products in time to obtain design wins as well as our ability to timely supply such products to meet market demand;
  • our ability to complete, successfully and in a timely manner, our various announced initiatives to improve the efficiency of our research and development programs, our manufacturing, and our overall corporate performance;
  • the anticipated benefits of research & development alliances and cooperative activities;
  • the ability of our suppliers to meet our demands for products and to offer competitive pricing;
  • changes in the economic, social, or political environment, as well as natural events such as severe weather, health risks, epidemics or earthquakes in the countries in which we and our key customers operate; and
  • our ability to obtain required licenses on third-party intellectual property.
Such forward-looking statements are subject to various risks and
uncertainties, which may cause actual results and performance of our
business to differ materially and adversely from the forward-looking
statements. Certain such forward-looking statements can be identified
by the use of forward-looking terminology such as "believes," "may,"
"will," "should," "would be," "anticipates," or similar expressions,
or the negative thereof, or other variations thereof, or comparable
terminology, or by discussions of strategy, plans, or intentions.
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, 2004, as
filed with the SEC on March 23, 2005. Should one or more of these
risks or uncertainties materialise, 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.
Unfavourable changes in the above or other factors listed under
"Risk Factors" from time to time in our SEC filings, including in our
Form 20-F, could have a material adverse effect on our business or
financial condition.
Conference Call Information
The management of STMicroelectronics will conduct a conference
call on Wednesday, October 26, 2005, at 9:00 a.m. US Eastern Time /
3:00 p.m. CET, to discuss operating performance for the third quarter
of 2005.
The conference call will be available via the Internet by
accessing the following Web address: www.vcall.com. Those viewing the
webcast should go to the Web site at least 15 minutes prior to the
call, in order to register, download, and install any necessary audio
software. The webcast will be available until Friday, November 4,
2005.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering
semiconductor solutions across the spectrum of microelectronics
applications. An unrivalled combination of silicon and system
expertise, manufacturing strength, Intellectual Property (IP)
portfolio and strategic partners positions the Company at the
forefront of System-on-Chip (SoC) technology and its products play a
key role in enabling today's convergence markets. The Company's
shares are traded on the New York Stock Exchange, on Euronext Paris
and on the Milan Stock Exchange. In 2004, the Company's net revenues
were $8.76 billion and net earnings were $601 million. Further
information on ST can be found at www.st.com.
    STMicroelectronics N.V.
    Consolidated Statements of Income
    (in million of US dollars, except per share data ($))
                                                        Three Months Ended
                                                     (Unaudited)  (Unaudited)
                                                    October 1,  September 25,
                                                      2005          2004
    Net sales                                         2,246         2,231
    Other revenues                                        1             0
    NET REVENUES                                      2,247         2,231
    Cost of sales                                    -1,481        -1,386
    GROSS PROFIT                                        766           845
    Selling, general and administrative                -248          -233
    Research and development                           -401          -384
    Other income and expenses, net                       -3            -3
    Impairment, restructuring charges
    and other related closure costs                     -12           -12
    Total Operating Expenses                           -664          -632
    OPERATING INCOME                                    102           213
    Interest income, net                                  8             0
    Loss on equity investments                           -2            -2
    INCOME BEFORE INCOME TAXES                          108           211
    AND MINORITY INTERESTS
    Income tax expense                                  -18           -20
    INCOME BEFORE MINORITY INTERESTS                     90           191
    Minority interests                                   -1            -2
    NET INCOME                                           89           189
    EARNINGS PER SHARE (BASIC)                            0.10          0.21
    EARNINGS PER SHARE (DILUTED)                          0.10          0.20
    NUMBER OF WEIGHTED AVERAGE
    SHARES USED IN CALCULATING                          935.5         934.9
    DILUTED EARNINGS PER SHARE
    STMicroelectronics N.V.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                           Nine Months Ended
                                                    October 1,  September 25,
    In million of US dollars                      2005        2004
                                                   (Unaudited)  (Unaudited)
    Cash flows from operating activities:
    Net income                                       83           414
    Items to reconcile net income
    and cash flows from operating activities
    Depreciation and amortisation                 1,482         1,319
    Amortisation of discount on convertible debt      3            28
    Loss on extinguishment of convertible debt        0             4
    Other non-cash items                              7            -3
    Minority interest in net income of subsidiaries   2             3
    Deferred income tax                             -40           -16
    Loss on equity investments                        2             2
    Impairment, restructuring charges
    and other related closure costs, net of cash
    payments                                         67            11
    Changes in assets and liabilities:
    Trade receivables, net                         -119          -256
    Inventories, net                               -152           -77
    Trade payables                                  -33           309
    Other assets and liabilities, net               -59           -41
    Net cash from operating activities            1,243         1,697
    Cash flows from investing activities:
    Payment for purchases of tangible assets     -1,211        -1,627
    Payment for purchase of marketable securities  -525        -1,030
    Investment in intangible and financial assets   -52           -64
    Payment for acquisitions, net of cash received    0            -3
    Net cash used in investing activities        -1,788        -2,724
    Cash flows from financing activities:
    Proceeds from issuance of long-term debt         25            22
    Repayment of long-term debt                     -90        -1,263
    Decrease in short-term facilities                -5           -37
    Capital increase                                 32            17
    Dividends paid                                 -107          -107
    Other financing activities                        1             0
    Net cash used in financing activities          -144        -1,368
    Effect of changes in exchange rates             -19            -2
    Net cash decrease                              -708        -2,397
    Cash and cash equivalents at beginning
    of the period                                 1,950         2,998
    Cash and cash equivalents at end
    of the period                                 1,242           601
GENEVA, Switzerland, October 25 /PRNewswire/ --
    STMicroelectronics N.V.
    Consolidated Statements of Income
    (in million of US dollars, except per share data ($))
                                                         Nine Months Ended
                                                   (Unaudited)  (Unaudited)
                                                    October 1,  September 25,
                                                     2005          2004
    Net sales                                        6,489         6,429
    Other revenues                                       4             3
    NET REVENUES                                     6,493         6,432
    Cost of sales                                   -4,328        -4,056
    GROSS PROFIT                                     2,165         2,376
    Selling, general and administrative               -766          -702
    Research and development                        -1,228        -1,131
    Other income and expenses, net                     -11           -13
    Impairment, restructuring charges and
    other related closure costs                       -113           -57
    Total Operating Expenses                        -2,118        -1,903
    OPERATING INCOME                                    47           473
    Interest income (expense), net                      23            -8
    Loss on equity investments                          -2            -2
    Loss on extinguishment of convertible debt           0            -4
    INCOME BEFORE INCOME TAXES                          68           459
    AND MINORITY INTERESTS
    Income tax benefit (expense)                        17           -42
    INCOME BEFORE MINORITY INTERESTS                    85           417
    Minority interests                                  -2            -3
    NET INCOME                                          83           414
    EARNINGS PER SHARE (BASIC)                        0.09          0.46
    EARNINGS PER SHARE (DILUTED)                      0.09          0.45
    NUMBER OF WEIGHTED AVERAGE
    SHARES USED IN CALCULATING                         935.0         936.9
    DILUTED EARNINGS PER SHARE
    STMicroelectronics N.V.
    Consolidated Balance Sheets
    As at                                October 1,     July 2,  December 31,
    In million of US dollars             2005           2005     2004
                                        (Unaudited)  (Unaudited) (Audited)
    ASSETS
    Current assets:
    Cash and cash equivalents            1,242          1,075    1,950
    Marketable securities                  525            525        0
    Trade accounts receivable, net       1,483          1,468    1,408
    Inventories, net                     1,398          1,363    1,344
    Deferred tax assets                    182            154      140
    Other receivables and assets           610            653      785
    Total current assets                 5,440          5,238    5,627
    Goodwill                               223            223      264
    Other intangible assets, net           227            240      291
    Property, plant and equipment, net   6,412          6,618    7,442
    Long-term deferred tax assets           53             59       59
    Investments and other
    non-current assets                     137            120      117
                                         7,052          7,260    8,173
    Total assets                        12,492         12,498   13,800
    Liabilities and Shareholders' Equity
    Current liabilities:
    Bank overdrafts                         48            34        58
    Current portion of long-term debt    1,527           150       133
    Trade accounts payable                 987         1,099     1,352
    Other payables and accrued liabilities 712           755       776
    Deferred tax liabilities                 9             7        17
    Accrued income tax                     163           167       176
    Total current liabilities            3,446         2,212     2,512
    Long-term debt                         263         1,692     1,767
    Reserve for pension and
    termination indemnities                261           254       285
    Long-term deferred tax liabilities      69            46        63
    Other non-current liabilities           20            20        15
                                           613         2,012     2,130
    Total liabilities                    4,059         4,224     4,642
    Commitment and contingencies
    Minority interests                      50            49        48
    Common stock
    (preferred stock: 540,000,000
    shares authorised, not issued;       1,153         1,150     1,150
    common stock: Euro 1.04
    nominal value, 1,200,000,000
    shares authorised, 907,597,149 shares
    issued, 894,197,149 shares outstanding)
    Capital surplus                      1,953         1,927     1,924
    Accumulated result                   5,244         5,156     5,268
    Accumulated other
    comprehensive income                   381           340     1,116
    Treasury stock                        -348          -348      -348
    Shareholders' equity                 8,383         8,225     9,110
    Total liabilities and
    shareholders' equity                12,492        12,498    13,800
GENEVA, Switzerland, October 25 /PRNewswire/ --
For further information, please contact:
    Investor Relations:
    Stanley March
    Vice President, Investor Relations
    Tel: +1-212-821-89-39
    Fax: +1-212-821-89-23
    Email:  stan.march@st.com
    Benoit de Leusse
    Director, Investor Relations
    Tel: +41-22-929-58-12
    Fax: +41-22-929-69-61
    Email:  benoit.de-leusse@st.com
    Fabrizio Rossini
    Investor Relations Senior Manager
    Tel: +41-22-929-69-73
    Fax: +41-22-929-69-61
    Email:  fabrizio.rossini@st.com
    Media Relations:
    Jonathan Dinkeldein
    Burson-Marsteller London
    Tel: +44-207-300-6150
    Email:jonathan_dinkeledein@uk.bm.com
    Sandrine Romano
    Burson-Marsteller Paris
    Tel: +33-1-41-86-76-77
    Email:  sandrine_romano@fr.bm.com
    Guerric de Beauregard
    Burson-Marsteller Paris
    Tel: +33-1-41-86-76-82
    Email:  guerric_debeauregard@fr.bm.com
GENEVA, Switzerland, October 25 /PRNewswire/ --

Contact:

Jonathan Dinkeldein, Burson-Marsteller London, Tel: +44-207-300-6150,
Email:jonathan_dinkeledein@uk.bm.com

Weitere Storys: STMicroelectronics
Weitere Storys: STMicroelectronics
  • 17.10.2005 – 10:07

    STMicroelectronics Launches its 'Greater China' Region and Appoints Corporate Vice President

    Geneva, Switzerland (ots/PRNewswire) - STMicroelectronics (NYSE: STM) today announced the creation of its new 'Greater China' region, covering the Company's operations in China, Hong Kong, and Taiwan. ST also announced the appointment of Bob Krysiak as Corporate Vice President and General Manager of the new entity. Today, customers in the Asia Pacific region ...