| (US$ m, except earnings per share data) | FY2019 | FY2018 | Y/Y |
| Net Revenues | $9,556 | $9,664 | (1.1)% |
| Gross Profit | $3,696 | $3,861 | (4.3)% |
| Gross Margin | 38.7% | 40.0% | (130) bps |
| Operating Income | $1,203 | $1,400 | (14.0)% |
| Operating Margin | 12.6% | 14.5% | (190) bps |
| Net Income | $1,032 | $1,287 | (19.8)% |
| Diluted Earnings Per Share | $1.14 | $1.41 | (19.1)% |
Fourth Quarter 2019 Summary Review
| Net Revenues By Product Group (US$ m) | Q4 2019 | Q3 2019 | Q4 2018 | Q/Q | Y/Y |
| Automotive and Discrete Group (ADG) | 924 | 894 | 967 | 3.3% | (4.5)% |
| Analog, MEMS and Sensors Group (AMS) | 1,085 | 968 | 988 | 12.1% | 9.9% |
| Microcontrollers and Digital ICs Group (MDG) | 742 | 688 | 689 | 7.9% | 7.6% |
| Others | 3 | 3 | 4 | - | - |
| Total Net Revenues | 2,754 | 2,553 | 2,648 | 7.9% | 4.0% |
Net revenues totaled $2.75 billion. On a sequential basis, revenues increased 7.9%, 290 basis points better than the mid-point of the Company’s guidance. On a year-over-year basis, fourth quarter net revenues increased 4.0% as the Company recorded higher sales in Analog, Microcontrollers, Imaging and MEMS partially offset by lower Automotive sales. On a year-over-year basis, sales to OEMs increased 8.9%, while Distribution decreased 6.9%.
