STMicroelectronics Reports 2009 Fourth Quarter and Full Year Financial Results

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.



Net Operating Cash Flow (in US$ millions)

 Q4 2009

   Q3 2009

 Q4 2008

Net cash from operating activities

449

225

390

Net cash used in investing activities

(207)

(311)

(172)

Payment for purchases of / proceeds from sale of current and non-current marketable securities, short-term deposits and restricted cash, net

5

181

(64)

Net operating cash flow

247

95

154

Net operating cash flow (ex M&A)

221

100

161




STMicroelectronics N.V.



Consolidated Statements of Income



(in million of U.S. dollars, except per share data ($))






Three Months Ended


(Unaudited)

(Audited)


December, 31

December, 31


2009

2008




Net sales

2,570 

2,264 

Other revenues

13 

12 

 NET REVENUES

2,583 

2,276 

Cost of sales

(1,626)

(1,454)

 GROSS PROFIT

957 

822 

Selling, general and administrative

(303)

(304)

Research and development

(603)

(572)

Other income and expenses, net

39 

Impairment, restructuring charges and other related closure costs

(96)

(91)

 Total Operating Expenses

(963)

(961)

 OPERATING LOSS

(6)

(139)

Oher-than-temporary impairment charge and realized losses on financial assets

(68)

(55)

Interest income, net

Loss on equity investments

(13)

(204)

Gain on sale of financial assets

15 

Gain on convertible debt buyback


 LOSS BEFORE INCOME TAXES

(81)

(380)

  AND NONCONTROLLING INTEREST



Income tax benefit (expense)

(48)

 LOSS BEFORE NONCONTROLLING INTEREST

(129)

(371)

Net loss attributable to noncontrolling interest

59 

 NET LOSS ATTRIBUTABLE TO PARENT COMPANY

(70)

(366)




 LOSS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS

(0.08)

(0.42)

 LOSS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS

(0.08)

(0.42)




 NUMBER OF WEIGHTED AVERAGE



 SHARES USED IN CALCULATING

878.3 

878.1 

 LOSS PER SHARE





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