Edition:
United Kingdom

STMicroelectronics Q4 Net Income Up At 418 Million Dollars


Thursday, 24 Jan 2019 

Jan 24 (Reuters) - STMICROELECTRONICS NV ::REG-STMICROELECTRONICS REPORTS Q4 AND FY 2018 FINANCIAL RESULTS.Q4: NET REVENUES $2.65 BILLION; OPERATING MARGIN 16.8%; NET INCOME $418 MILLION.FY: NET REVENUES UP 15.8% TO $9.66 BILLION, OPERATING INCOME UP 39.3% TO $1.40 BILLION, NET INCOME UP 60.4% TO $1.29 BILLION.Q4 NET INCOME ATTRIBUTABLE TO PARENT (US GAAP) $418 MILLION VERSUS $364 MILLION IN REUTERS POLL.Q1 2019 BUSINESS OUTLOOK AT MID-POINT: NET REVENUES OF ABOUT $2.1 BILLION AND GROSS MARGIN OF ABOUT 39.0%.Q1 2019 NET REVENUES ARE EXPECTED TO DECREASE ABOUT 20.7% SEQUENTIALLY (DOWN 5.7% YEAR-OVER-YEAR), PLUS OR MINUS 350 BASIS POINTS; GROSS MARGIN OF ABOUT 39.0%, PLUS OR MINUS 200 BASIS POINTS.NET REVENUES IN 2018 INCREASED BY 15.8% YEAR-OVER-YEAR LED BY IMAGING, AUTOMOTIVE AND POWER DISCRETE.Q4 OPERATING INCOME (US GAAP) $ 443 MILLION VERSUS $413 MILLION IN REUTERS POLL.Q1 2019 GROSS MARGIN EXPECTED OF ABOUT 39.0%, PLUS OR MINUS 200 BASIS POINTS.OUTLOOK IS BASED ON ASSUMED EFFECTIVE CURRENCY EXCHANGE RATE OF ABOUT $1.16 = €1.00 FOR THE Q1 AND INCLUDES IMPACT OF EXISTING HEDGING CONTRACTS.NET FINANCIAL POSITION (NON-U.S. GAAP) WAS $686 MILLION AT DECEMBER 31.SAYS WHILE WE DO NOT HAVE MATERIAL OPERATIONS IN THE U.K. AND HAVE NOT EXPERIENCED ANY MATERIAL IMPACT FROM BREXIT ON OUR UNDERLYING BUSINESS TO DATE, WE CANNOT PREDICT ITS FUTURE IMPLICATIONS.IN 2019 WE EXPECT TO INVEST BETWEEN $1.2 TO $1.3 BILLION IN CAPEX - CEO.