Geneva, May 27, 2003 - In anticipation of its annual Investor Field Trip, and based on currently available data, STMicroelectronics (NYSE:STM) reaffirmed the guidance for second quarter 2003 revenues and gross margin that it provided in its news release dated April 23, 2003. At that time the Company stated that it expected revenues to be within the range of $1.68 billion to $1.72 billion, and that its gross margin would be approximately 36%.
All statements included in this release, other than statements which constitute historical facts, are forward-looking statements which are based on Management's current expectations, views, beliefs and assumptions as of the date of this release.
Such statements, which inter alia describe the Company's business strategy, relationships, outlook, plans, intentions or goals, are subject to various risks and uncertainties, which may cause actual results and performance of the Company's business to differ materially and adversely from the forward-looking statements.
Factors which may cause actual results or performance to differ materially from the expectations of the Company or its Management include:
- The demand for semiconductor products in the key application markets served by the Company's products;
- The intensively competitive and cyclical nature of the semiconductor industry, and the ability of the Company to compete in products and prices in such an environment;
- The timely implementation by the Company of new manufacturing technologies and the necessary installation of required production equipment;
- The ability of the Company to develop, manufacture and market innovative products in a rapidly changing technological environment;
- International events which affect the economic, social, political and health conditions in the countries in which the Company and its key customers operate;
- Fluctuations in the exchange rates between the US Dollar and the Euro, and the US Dollar and the currencies of the other major countries in which the Company operates;
- Order cancellations or postponements from key customers;
- The anticipated benefits of Research & Development alliances and cooperative activities.
A more detailed discussion of these factors and the other "Risk Factors", which may from time to time materially and adversely affect the Company, is contained in our Annual Report or Form 20-F of the year ended December 31, 2002, which was filed with the SEC on March 14, 2003.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2002, the Company's net revenues were $6.32 billion and net earnings were $429.4 million. Further information on ST can be found at http://www.st.com.
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