STMicroelectronics Reports Q4 and FY 2019 Financial Results


STMicroelectronics N.V.    
CONSOLIDATED STATEMENTS OF INCOME    
(in millions of U.S. dollars, except per share data ($))    
     
  Twelve months ended
  December 31, December 31,
  2019 2018
  (Unaudited) (Audited)
     
Net sales   9,529   9,612
Other revenues   27   52
NET REVENUES   9,556   9,664
Cost of sales   (5,860)   (5,803)
GROSS PROFIT   3,696   3,861
Selling, general and administrative   (1,093)   (1,095)
Research and development   (1,498)   (1,398)
Other income and expenses, net   103   53
Impairment, restructuring charges and other related closure costs   (5)   (21)
Total operating expenses   (2,493)   (2,461)
OPERATING INCOME   1,203   1,400
Interest income (expense), net   1   (7)
Other components of pension benefit costs   (16)   (11)
Income (loss) on equity-method investments   1   8
Loss on financial instruments, net   -   (1)
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST   1,189   1,389
Income tax expense   (156)   (96)
NET INCOME   1,033   1,293
Net income attributable to noncontrolling interest   (1)   (6)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY   1,032   1,287
     
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   1.15   1.43
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS   1.14   1.41
     
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS 903.6 911.0
     

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