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, 2020, as filed with the SEC on February 24, 2021. 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 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.
About STMicroelectronics
At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 100,000 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 5G technology. 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
Head of 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 | |||
| April 3, | March 28, | ||
| 2021 | 2020 | ||
| (Unaudited) | (Unaudited) | ||
| Net sales | 3,011 | 2,228 | |
| Other revenues | 5 | 3 | |
| NET REVENUES | 3,016 | 2,231 | |
| Cost of sales | (1,841) | (1,385) | |
| GROSS PROFIT | 1,175 | 846 | |
| Selling, general and administrative | (325) | (270) | |
| Research and development | (444) | (375) | |
| Other income and expenses, net | 34 | 35 | |
| Impairment, restructuring charges and other related closure costs | - | (5) | |
| Total operating expenses | (735) | (615) | |
| OPERATING INCOME | 440 | 231 | |
| Interest income (expense), net | (9) | 1 | |
| Other components of pension benefit costs | (2) | (3) | |
| Gain on financial instruments, net | 2 | - | |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 431 | 229 | |
| Income tax expense | (66) | (39) | |
| NET INCOME | 365 | 190 | |
| Net income attributable to noncontrolling interest | (1) | 2 | |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY | 364 | 192 | |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.40 | 0.22 | |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.39 | 0.21 | |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 931.5 | 916.7 | |
