・Net revenues of $1.70 billion and gross margin of 33.9% in the second quarter
・Continued strength in automotive and microcontroller revenues; growing about 6% and 4% year-over-year, respectively
・Free cash flow (1)  of $47 million in the second quarter; $78 million in the first half of 2016

 

Geneva, July 27, 2016 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported financial results for the second quarter and first half ended July 2, 2016.
 

Second quarter net revenues totaled $1.70 billion, gross margin was 33.9%, and net earnings were $0.03 per share.
 

“In  the  second  quarter,  we  made  another  step  towards  our  goal  to  return  to  year-over-year  sales  growth  in  the second half of 2016. Sequentially,  revenues increased 5.6% and gross margin improved 50 basis  points. We also made progress in our set-top box restructuring program and well managed our cash flow,” commented Carlo Bozotti, STMicroelectronics President and Chief Executive Officer.
 

“Sequential revenue growth came from the progress we are making on our areas of strategic focus, Smart Driving and Internet of Things. Our automotive business enjoyed another strong quarter across all applications; our general purpose  microcontroller  business  had  another  record  billing  performance,  driven  by  STM32;  our  Time-of-Flight specialized  image  sensors  entered  multiple  smartphone  models  and  our  power  discretes  started  a  broad-based recovery.”

 

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