STMicroelectronics Reports 2009 Fourth Quarter and Full Year Financial Results



Q4 2008

(US$ millions and cents per share)

Gross Profit

Operating Income (Loss)

Net Earnings

(Loss)

Corresponding EPS

U.S. GAAP

822

(139)

(366)

(0.42)

NXP Wireless Inventory Step-Up

31

31

31


Impairment & Restructuring


91

91


Other-Than-Temporary-Impairment



55

Numonyx Impairment



180

Estimated Income Tax Effect



(48)

Non-U.S GAAP

853

(17)

(57)

(0.06)



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 (in US$ millions)

 December 31, 2009

 September 26, 2009

 December 31, 2008

Cash and cash equivalents, net of bank overdrafts

1,588

1,576

989

Marketable securities, current

1,032

955

651

Restricted cash

250

250

250

Marketable securities, non-current

42

170

242

Total financial resources

2,912

2,951

2,132

Current portion of long-term debt

(176)

(230)

(123)

Long-term debt

(2,316)

(2,455)

(2,554)

Total financial debt

(2,492)

(2,685)

(2,677)

Net financial position

420

266

(545)




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