Computeruser.com
Latest News

STMicroelectronics Reports 2010 Fourth Quarter and Full Year Financial Results

PARIS Jan. 24, 2011 December 31, 2010

Carlo Bozotti "ST had a very strong finish to the year. Our fourth quarter revenues came in near the top end of our range, increasing 6.6% sequentially on broad-based strength in analog, MEMS, microcontrollers and automotive applications. Our gross margin further increased to 39.9%, up 70 basis points sequentially, coming in above the midpoint of our guidance.

$830 million

"In 2010, w e were well prepared to take advantage of significantly better industry conditions with the right portfolio and we have started to turn our vision of leadership in ‘Sense and Power’ applications and in multimedia convergence into reality. In the last eight quarters, ST went through the most severe economic recession in 2009 and successfully capitalized on the 2010 market recovery. Throughout this timeframe we remained focused on our growth and profitability objectives. Today, our innovative products, which have leadership positions in highly successful applications, customer base and solid capital structure, make us a much stronger company."

(*) Net financial position is a non-U.S. GAAP measure. Please refer to Attachment A for additional information explaining why the Company believes this measure is important and for reconciliation to U.S. GAAP.

Fourth Quarter Review

$2,833 million

On a year-over-year basis, all market segments, except Telecom, posted growth, with Automotive up by 27%, Industrial & Other by 18%, Consumer by 14%, and Computer by 7%. Telecom declined by 7%. Distribution increased 25%.

Sequentially, revenues grew in all regions, led by Japan-Korea, Greater China-South Asia and Americas with 10%, 8% and 7% growth, respectively.

All market segments increased on a sequential basis, except Consumer, with Automotive higher by 16%, Industrial & Other by 13%, Computer by 10%, and Telecom by 7%. Consumer decreased by 6% on weakening demand. Distribution increased sequentially by 4%.

Net Revenues By Market Segment / Channel (a)
(In %)

Q4 2010

Q3 2010

Q4 2009

Market Segment / Channel:

  Automotive

15%

14%

13%

  Computer

14%

13%

14%

  Consumer

11%

13%

11%

  Industrial & Other

8%

7%

7%

  Telecom

31%

31%

36%

Total OEM

79%

78%

81%

Distribution

21%

22%

19%

(a) Sales recorded by ST-Ericsson and consolidated by ST are included in Telecom and Distribution.

$914 million $839 million $906 million .

$32 million $27 million $96 million

$213 million $193 million $6 million

Revenues and Operating Results by Product Segment

The following table provides a breakdown of revenues and operating results by product segment.

Operating Segment
(In Million US$)

Q4 2010
Net
Revenues

Q4 2010
Operating
Income (Loss)

Q3 2010
Net
Revenues

Q3 2010
Operating
Income (Loss)

Q4 2009
Net
Revenues

Q4 2009
Operating
Income (Loss)      

ACCI (a)

1,128

135

1,086

128

980

62

IMS (a)

1,131

254

1,012

199

871

85

Wireless (b)

562

(136)

546

(94)

712

(48)

Others (c)(d)

12

(40)

13

(40)

20

(105)

TOTAL

2,833

213

2,657

193

2,583

(6)

January 1, 2010

February 3, 2009

(c) Net revenues of "Others" includes revenues from sales of Subsystems, assembly services and other revenues.

(d) $2 million $13 million $32 million $27 million $96 million

$1,128 million

$1,131 million

$562 million $24 million $136 million $64 million $37 million $11 million

$83 million $60 million $59 million

www.stericsson.com

Net Results

$219 million $0.24 $198 million $70 million $0.27 $0.23 $0.04

$1.34 to euro 1.00 $1.34 to euro 1.00 $1.43 to euro 1.00

Cash Flow and Balance Sheet Highlights

$349 million $224 million $247 million $961 million

$319 million

$423 million $298 million $1,034 million

$1.50 billion $1.43 billion September 25, 2010

$510 million $121 million

$161 million $1,152 million December 31, 2010 $878 million September 25, 2010 $420 million December 31, 2009 $2.92 billion $1.77 billion

$8.50 billion $0.9 billion

In the fourth quarter the Company posted a return on net assets (RONA) attributable to ST of 20.7%.*

$1.7 billion

$358 million March 2011

(*)Adjusted net earnings, net operating cash flow, net financial position and RONA attributable to ST are non-U.S. GAAP measures. For additional information, please refer to Attachment A.

2010 Full Year Results

$10,346 million $8,510 million

IMS revenue growth benefited from two structural changes which have been well underway. First, advanced analog and MEMS products are becoming an increasing proportion of the overall IMS portfolio. Second, IMS is benefiting from the success of its general-purpose and secure microcontroller families.

ACCI revenue growth was driven by all key products families: ICs for automotive, set-top-boxes, computer peripherals, printers in particular, and communication infrastructure applications.

Wireless revenues in 2010 decreased by 14% compared to the prior year. ST-Ericsson is well on its way to completing its transformation to focus on expanding its product portfolio to serve the smartphone and tablet markets with best-in-class modems and application solutions. ST-Ericsson is seeing increasing traction in these markets with products such as their U8500 smartphone platform, which they plan to ramp in the second half of the year with several Tier 1 customers.

Gross margin for ST was 38.8% of net revenues, compared to 30.9% of net revenues in 2009, reflecting significantly improved fab loading and the success of the Company’s product offering.

$830 million $0.92 $1,131 million $1.29

$1.36 to euro 1.00 $1.37 to euro 1.00

"In 2010, $1.31 billion $1.84 billion

2010 Full Year Revenue and Operating Results by Product Segment

In Million US$

Full Year 2010

Full Year 2009

Product Segment

Net
Revenues

Operating
Income
(Loss)

Net
Revenues

Operating
Income
(Loss)

ACCI

4,169

410

3,152  

(69)  

IMS

3,899

681

2,687  

91  

Wireless

2,219

(483)

2,585

(356)

Others

59

(132)

86  

(689)

TOTAL

10,346

476

8,510

(1,023)

First Quarter 2011 Business Outlook

"As we enter 2011 key new products continuing to ramp will include gyroscopes, accelerometers, 32-bit microcontrollers, and automotive products among others. New products that will contribute to our growth in the coming quarters include SoCs for 3-D and connected TVs, MEMS microphones and pressure sensors and advanced analog products for medical and smart grid applications. Also, ST-Ericsson will ramp new products, such as their thin modem and, in the second half of the year, U8500 smartphone platform.

" While the semiconductor industry is expected to grow in 2011, although at a much more moderate rate compared to the strong growth in 2010, we expect to deliver above-market revenue growth accompanied by further year-over-year improvements in quarterly operating profitability. We are well positioned for success in our traditional and new growth markets, including energy savings, data security, healthcare and wellness as well as smart consumer devices. "

$1.1 billion to $1.5 billion

Asia

$1.32 euro 1.00 April 2, 2011

Q4 2010 Products, Technology and Design Wins

Automotive, Consumer, Computer and Communication Infrastructure (ACCI)

Product Highlights

Automotive

  • Power Train
    • China China
    • Design win from a worldwide leader in hybrid/electric-vehicle (HEV/EV) batteries to supply at least five major global car makers from 2013, for a next-generation battery-manager ASIC (application-specific IC), embedding new and innovative features.
    • Europe
    • Euro 5 China
  • Body Electronics
    • Japan
    • 24V-focused VIPower family gained strategically important design win from a worldwide tier-one leader in body electronics for various truck applications.
    • Design win from a major European OEM for a full-solution door-zone platform.

  • Safety
    • Europe
    • Europe
  • Infotainment
    • Key design win for an OEM radio-navigation application for the Cartesio+ navigation processor, a tuner IC and a digital audio processor.
    • Russia

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test