STMicroelectronics Reports 2009 First Quarter Financial Results

(Attachment A - continued)

Net operating cash flow is defined as net cash from operating activities minus net cash used in investing activities, excluding payment for purchases of and proceeds from the sale of marketable securities (both current and non-current), short-term deposits and restricted cash. We believe net operating cash flow provides useful information for investors and management because it measures our capacity to generate cash from our operating and investing activities to sustain our operating activities. Net operating cash flow is not a U.S. GAAP measure and does not represent total cash flow since it does not include the cash flows generated by or used in financing activities. In addition, our definition of net operating cash flow may differ from definitions used by other companies. First quarter 2009 cash flow data are not provided below, following a delayed calendar for the final closing of the cash flow statement due to the purchase accounting of acquisitions.



    Net Operating Cash Flow (US$ and in millions)      Q4 2008       Q1 2008

    Net cash from operating activities                   390            502
    Net cash used in investing activities               -172           -453
    Proceeds from sale of marketable securities          -64              0
    Net operating cash flow                              154             49
    Net operating cash flow (ex M&A)                     161            219

Net financial position: resources (debt), represents the balance between our total financial resources and our total financial debt. Our total financial resources include cash and cash equivalents, current and non-current marketable securities, short-term deposits and restricted cash, and our total financial debt include bank overdrafts, the current portion of long-term debt and long-term debt, all as represented in our consolidated balance sheet. We believe our net financial position provides useful information for investors because it gives evidence of our global position either in terms of net indebtedness or net cash by measuring our capital resources based on cash, cash equivalents and marketable securities and the total level of our financial indebtedness. Net financial position is not a U.S. GAAP measure.



    Net Financial Position                Q1 2009   Q4 2008   Q1 2008
     (US$ and in millions)
    Cash and cash equivalents              1,480     1,009     2,060
    Marketable securities, current           988       651     1,060
    Restricted cash                          250       250       250
    Marketable securities, non-current       184       242       339
    Total cash position                    2,902     2,152     3,709
    Bank overdrafts                           -3       -20         0
    Current portion of long-term debt       -159      -123      -300
    Long-term debt                        -2,486    -2,554    -2,324
    Total financial debt                  -2,648    -2,697    -2,624
                                          ------    ------    ------
    Net financial position                   254      -545     1,085



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

                                                      Three Months Ended
                                                      ------------------
                                                    (Unaudited) (Unaudited)
                                                    ----------- -----------
                                                      March 28,   March 30,
                                                         2009        2008
                                                         ----        ----

    Net sales                                           1,657       2,461
    Other revenues                                          3              17
                                                                                                                        -                    --
            NET  REVENUES                                                                            1,660              2,478
        Cost  of  sales                                                                            -1,223            -1,579
                                                                                                              ------            ------
            GROSS  PROFIT                                                                                437                  899
        Selling,  general  and  administrative                                    -280                -304
        Research  and  development                                                          -557                -509
        Other  income  and  expenses,  net                                                  63                      9
        Impairment,  restructuring  charges  and  other
          related  closure  costs                                                                -56                -183
                                                                                                                    ---                ----
            Total  Operating  Expenses                                                      -830                -987
                                                                                                                  ----                ----
            OPERATING  LOSS                                                                          -393                  -88
        Other-than-temporary  impairment  charge  on
          financial  assets                                                                          -58                  -29
        Interest  income,  net                                                                        1                    20
        Earnings  (loss)  on  equity  investments                                -232                      0
        Loss  on  sale  of  financial  assets                                              -8                      0
                                                                                                                      --                      -
            LOSS  BEFORE  INCOME  TAXES                                                      -690                  -97
              AND  NONCONTROLLING  INTEREST
        Income  tax  benefit                                                                          95                    14
                                                                                                                      --                    --
            LOSS  BEFORE  NONCONTROLLING  INTEREST                                -595                  -83
        Net  loss  (income)  attributable  to
          noncontrolling  interest                                                              54                    -1
                                                                                                                      --                    --
            NET  LOSS  ATTRIBUTABLE  TO  PARENT  COMPANY                        -541                  -84
                                                                                                                  ====                  ===

            LOSS  PER  SHARE  (BASIC)  ATTRIBUTABLE  TO
              PARENT  COMPANY  SHAREHOLDERS                                            -0.62              -0.09
            LOSS  PER  SHARE  (DILUTED)  ATTRIBUTABLE  TO
              PARENT  COMPANY  SHAREHOLDERS                                            -0.62              -0.09

            NUMBER  OF  WEIGHTED  AVERAGE
            SHARES  USED  IN  CALCULATING                                                874.3              899.8
            DILUTED  LOSS  PER  SHARE



        STMicroelectronics  N.V.
        CONSOLIDATED  BALANCE  SHEETS


        As  at                                                                  March  28,    December  31,    March  30,
        In  million  of  U.S.  dollars                            2009                  2008                2008
                                                                                  (Unaudited)      (Audited)    (Unaudited)
                                                                                  -----------      ---------    -----------

        ASSETS
        ======
        Current  assets:
        Cash  and  cash  equivalents                                    1,480                1,009              2,060
        Marketable  securities                                                988                    651              1,060
        Trade  accounts  receivable,  net                          1,101                1,064              1,546
        Inventories,  net                                                      1,656                1,840              1,539
        Deferred  tax  assets                                                    248                    252                  230
        Receivables  for  transactions
          performed  on  behalf,  net                                          11                        0                      0
        Other  receivables  and  assets                                  885                    685                  626
                                                                                                  ---                    ---                  ---
        Total  current  assets                                              6,369                5,501              7,061

        Goodwill                                                                      1,138                    958                  314
        Other  intangible  assets,  net                                  894                    863                  317
        Property,  plant  and  equipment,  net                  4,341                4,739              5,391
        Long-term  deferred  tax  assets                                319                    373                  270
        Equity  investments                                                      380                    510              1,035
        Restricted  cash                                                            250                    250                  250
        Non-current  marketable  securities                        184                    242                  339
        Other  investments  and  other  non-
          current  assets                                                            333                    477                  357
                                                                                                  ---                    ---                  ---
                                                                                              7,839                8,412              8,273
        Total  assets                                                            14,208              13,913            15,334
                                                                                            ------              ------            ------

        LIABILITIES  AND  SHAREHOLDERS'  EQUITY
        ====================================
        Current  liabilities:
        Bank  overdrafts                                                                3                      20                      0
        Current  portion  of  long-term  debt                        159                    123                  300
        Trade  accounts  payable                                              707                    847              1,114
        Other  payables  and  accrued
          liabilities                                                              1,054                    996                  912
        Dividends  payable  to  shareholders                            0                      79                      0
        Deferred  tax  liabilities                                            30                      28                    13
        Accrued  income  tax                                                      121                    125                  139
                                                                                                  ---                    ---                  ---
        Total  current  liabilities                                    2,074                2,218              2,478

        Long-term  debt                                                          2,486                2,554              2,324
        Reserve  for  pension  and  termination
          indemnities                                                                  313                    332                  302
        Long-term  deferred  tax  liabilities                        26                      27                    32
        Other  non-current  liabilities                                355                    350                  306
                                                                                                  ---                    ---                  ---
                                                                                              3,180                3,263              2,964
        Total  liabilities                                                    5,254                5,481              5,442
        Commitment  and  contingencies
        Equity
        Parent  company  shareholders'  equity
        Common  stock  (preferred  stock:
          540,000,000  shares  authorized,  not
          issued;                                                                      1,156                1,156              1,156
        common  stock:  Euro  1.04  nominal  value,
          1,200,000,000  shares  authorized,
          910,307,305  shares  issued,  874,327,774
          shares  outstanding)
        Capital  surplus                                                        2,455                2,324              2,131
        Accumulated  result                                                  3,521                4,064              5,190
        Accumulated  other  comprehensive
          income                                                                            915                1,094              1,635
        Treasury  stock                                                            -480                  -482                -274
                                                                                                ----                  ----                ----
        Total  parent  company  shareholders'
          equity                                                                        7,567                8,156              9,838
        Non-controlling  interest                                      1,387                    276                    54
                                                                                              -----                    ---                    --
        Total  equity                                                              8,954                8,432              9,892
                                                                                              -----                -----              -----
        Total  liabilities  and  equity                            14,208              13,913            15,334
                                                                                            ------              ------            ------
 

Web site: http://www.st.com/



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