STMicroelectronics Reports 2011 Fourth Quarter and Full Year Financial Results

PARIS — STMicroelectronics (NYSE: STM) reported financial results for the fourth quarter and full year ended December 31, 2011.

ST’s fourth quarter net revenues decreased 10.3% on a sequential basis, within our guidance, with all regions down sequentially. The Americas decreased 4.6%, Japan & Korea and Greater China & South Asia each were down about 7.5% and EMEA decreased 20.7%. On a year-over-year basis, ST’s net revenues decreased 22.6%, with Analog, MEMS and Microcontrollers (AMM) and Automotive, Computer, Consumer and Communications Infrastructure (ACCI), led by Automotive, performing better than the other segments, in particular Wireless.

Net revenues for the full year 2011 decreased 5.9% to $9.73 billion from $10.35 billion in the prior year reflecting weak market conditions, particularly in the second half of the year, and ST-Ericsson’s transition from legacy to new products. ST wholly-owned businesses’ net revenues increased about 1% in 2011.

Q4 2011 – Product and Technology Highlights – Home Entertainment and Displays

• Ramped-up production at major cable operators and awarded new set-top box IC design wins in India.
• Awarded major design wins for the Orly SoC, ST’s latest-generation set-top box IC, with leading Korean and Japanese manufacturers.
• Introduced and demonstrated the Athena SoC for next-generation 4K2K displays; now actively engaging with key panel makers.