Business Context and Reporting Period
This Form 6-K filing by STMicroelectronics N.V. covers the month of June 2002, with the report dated June 27, 2002. The filing primarily announces the completion of a strategic divestiture rather than providing a full quarterly financial report.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, or debt figures for the current reporting period. It references historical data from the 2001 fiscal year, noting net revenues of $6.36 billion and net earnings of $257.1 million.
Material Changes
- Asset Sale Completion: STMicroelectronics completed the sale of the mixed-signal business activities of Alcatel Microelectronics to AMI Semiconductor.
- Scope of Transaction: The sale includes Alcatel Microelectronics' mixed-signal ASIC business and development groups.
- Facilities Transferred: The transaction encompasses two fabrication facilities located in Oudenaarde, Belgium, along with associated process technologies.
Outlook and Management Commentary
Management highlights STMicroelectronics' position as the world's third-largest semiconductor company and a leader in System-on-Chip (SoC) technology. The company emphasizes its combination of silicon and system expertise, manufacturing strength, and IP portfolio as key drivers for enabling convergence markets. No specific forward-looking financial guidance or risk factors related to the transaction were detailed in this specific press release summary.
Investor Verification Checklist
- Verify the financial impact of the Alcatel Microelectronics sale on the current quarter's earnings and cash flow.
- Confirm the specific valuation or consideration received for the mixed-signal business and Oudenaarde facilities.
- Review subsequent filings for updated revenue guidance following the divestiture.
- Assess any potential transition costs or integration issues related to the transfer of the two fabrication facilities.