STMicroelectronics Reports 2015 Third Quarter and Nine Month

STMicroelectronics Reports 2015 Third Quarter and Nine Month Financial Results

In 2014, the Company's net revenues were $7.40 billion, serving more than 100,000 customers worldwide. Further information can be found at www.st.com

(tables attached)

For further information, please contact:

INVESTOR RELATIONS:
Tait Sorensen
Group VP, Investor Relations
Tel: +1 602 485 2064
tait.sorensen@st.com

MEDIA RELATIONS:
Nelly Dimey
Director, Corporate Media and Public Relations
Tel: + 33 1 58 07 77 85
nelly.dimey@st.com

STMicroelectronics N.V.
Consolidated Statements of Income
(in millions of U.S. dollars, except per share data ($))

	Three Months Ended
	(Unaudited)	(Unaudited)
	September 26,	September 27,
	2015	2014

Net sales	1,755	1,870
Other revenues	9	16
NET REVENUES	1,764	1,886
Cost of sales	(1,151)	(1,240)
GROSS PROFIT	613	646
Selling, general and administrative	(218)	(226)
Research and development	(331)	(377)
Other income and expenses, net	38	32
Impairment, restructuring charges and other related closure costs	(11)	(38)
Total Operating Expenses	(522)	(609)
OPERATING INCOME	91	37
Interest expense, net	(5)	(7)
Loss on equity-method investments	(1)	-
INCOME BEFORE INCOME TAXES	85	30
AND NONCONTROLLING INTEREST
Income tax benefit	8	42
NET INCOME	93	72
Net loss (income) attributable to noncontrolling interest	(3)	-
NET INCOME ATTRIBUTABLE TO PARENT COMPANY	90	72

EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.10	0.08
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.10	0.08

NUMBER OF WEIGHTED AVERAGE
SHARES USED IN CALCULATING
DILUTED EARNINGS PER SHARE	880.7	891.3

STMicroelectronics N.V.
Consolidated Statements of Income
(in millions of U.S. dollars, except per share data ($))

	Nine Months Ended
	(Unaudited)	(Unaudited)
	September 26,	September 27,
	2015	2014

Net sales	5,202	5,529
Other revenues	27	46
NET REVENUES	5,229	5,575
Cost of sales	(3,455)	(3,696)
GROSS PROFIT	1,774	1,879
Selling, general and administrative	(666)	(691)
Research and development	(1,073)	(1,144)
Other income and expenses, net	110	157
Impairment, restructuring charges and other related closure costs	(61)	(71)
Total Operating Expenses	(1,690)	(1,749)
OPERATING INCOME	84	130
Interest expense, net	(16)	(11)
Income (loss) on equity-method investments	1	(60)
Gain on financial instruments, net	-	1
INCOME BEFORE INCOME TAXES	69	60
AND NONCONTROLLING INTEREST
Income tax benefit	38	26
NET INCOME	107	86
Net loss (income) attributable to noncontrolling interest	(5)	(1)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY	102	85

EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.12	0.10
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.12	0.10

NUMBER OF WEIGHTED AVERAGE
SHARES USED IN CALCULATING
EARNINGS PER SHARE	880.0	889.2

STMicroelectronics N.V.
CONSOLIDATED BALANCE SHEETS
As at	September 26,	June 27,	December 31,
In millions of U.S. dollars	2015	2015	2014
	(Unaudited)	(Unaudited)	(Audited)
ASSETS
Current assets:
Cash and cash equivalents	1,869	1,887	2,017
Restricted cash	-	20	-
Marketable securities	338	334	334
Trade accounts receivable, net	989	983	911
Inventories	1,253	1,242	1,269
Deferred tax assets	92	83	97
Assets held for sale	14	33	33
Other current assets	518	469	390
Total current assets	5,073	5,051	5,051
Goodwill	77	78	82
Other intangible assets, net	162	179	193
Property, plant and equipment, net	2,432	2,518	2,647
Non-current deferred tax assets	441	452	386
Long-term investments	56	57	69
Other non-current assets	445	505	576
	3,613	3,789	3,953
Total assets	8,686	8,840	9,004

LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	191	201	202
Trade accounts payable	701	785	597
Other payables and accrued liabilities	739	791	841
Dividends payable to stockholders	190	271	87
Deferred tax liabilities	1	-	-
Accrued income tax	52	26	39
Total current liabilities	1,874	2,074	1,766
Long-term debt	1,557	1,581	1,599
Post-employment benefit obligations	373	376	392
Long-term deferred tax liabilities	10	10	10
Other long-term liabilities	139	187	182
	2,079	2,154	2,183
Total liabilities	3,953	4,228	3,949
Commitment and contingencies
Equity
Parent company stockholders' 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, 910,949,920 shares issued, 878,506,477 shares outstanding)	1,157	1,157	1,157
Capital surplus	2,768	2,760	2,741
Retained earnings	523	435	817
Accumulated other comprehensive income	508	486	613
Treasury stock	(289)	(289)	(334)
Total parent company stockholders' equity	4,667	4,549	4,994
Noncontrolling interest	66	63	61
Total equity	4,733	4,612	5,055
Total liabilities and equity	8,686	8,840	9,004

STMicroelectronics N.V.

SELECTED CASH FLOW DATA

Cash Flow Data (in US$ millions)	Q3 2015	Q2 2015	Q3 2014

Net Cash from operating activities	225	223	281
Net Cash used in investing activities	(120)	(190)	(424)
Net Cash from (used in) financing activities	(121)	(94)	776
Net Cash increase (decrease)	(18)	(62)	628

Selected Cash Flow Data (in US$ millions)	Q3 2015	Q2 2015	Q3 2014

Depreciation & amortization	186	181	199
Net payment for Capital expenditures	(128)	(161)	(137)
Dividends paid to stockholders	(83)	(93)	(89)
Change in inventories, net	(14)	(32)	22

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