STMicroelectronics Reports 2007 Fourth Quarter and Full Year Revenues and Earnings

Tuesday, January 22nd, 2008 
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  • Fourth quarter net revenues increased 6.9% sequentially to $2.74 billion, gross margin at 36.9%, diluted EPS was $0.27 before restructuring and one-time charges
  • 2007 net revenues reached $10.0 billion; net income before restructuring and one-time charges was $698 million
  • 2007 net operating cash flow up 26% to $840 million

GENEVA — STMicroelectronics (NYSE: STM) reported financial results for the fourth quarter and year ended December 31, 2007. Net revenues for the fourth quarter increased 6.9% sequentially to $2.74 billion from the $2.57 billion reported in the prior quarter.

Recent Corporate Developments – Consumer

  • On December 11, 2007, the Company and Genesis Microchip Inc. announced that they had entered into a definitive agreement for STMicroelectronics to acquire Genesis Microchip. The acquisition confirms STMicroelectronics as a leading System-on-Chip (SoC) technology provider to the rapidly growing digital television and display markets. The tender offer closed on January 16, 2008 with ST receiving 91% of Genesis shares. A subsequent offering period remains open until 5:00 pm New York time on January 23, 2008.

Products, Technology and Design Wins – Application-Specific Product Highlights – Consumer

  • ST introduced the STi5202 low-cost set-top-box (STB) decoder chip, intended for standard-definition (SD) terrestrial, cable, satellite and IP (Internet Protocol) TV applications, and for both retail and operator-supplied boxes. The chip shares the same architecture, and is also software compatible, with ST’s STi7109 single-chip H.264 high-definition (HD) decoder, which has been highly successful in markets worldwide.
  • ST also announced that the leading Brazilian consumer manufacturer Gradiente’s new DHD800 HD STB – the first to offer full compliance with the new Brazilian SBTVD (Sistema Brasileiro de Televisão Digital) digital terrestrial TV standard – is based on ST’s industry-leading STi7100 single-chip HDTV decoder technology.