Business Context and Reporting Period
This Form 6-K filing by STMicroelectronics N.V. is dated June 24, 2003. The report serves to disclose a press release issued on June 23, 2003, regarding the company's inclusion in major stock market indices. STMicroelectronics operates as a global leader in semiconductor solutions, with shares traded on the NYSE, Euronext Paris, and the Milan Stock Exchange.
Key Financial Metrics
The filing references historical financial data from the 2002 fiscal year but does not provide current period financial results, cash flow, debt, or liquidity metrics for 2003.
- 2002 Net Revenues: $6.32 billion
- 2002 Net Earnings: $429.4 million
- Current Period Metrics: The filing text does not provide a clear value for 2003 revenue, profit, margins, or debt.
Material Changes
The primary material change disclosed is the addition of STMicroelectronics to the Philadelphia Stock Exchange Semiconductor Sector Index (SOX) effective June 23, 2003. The company is also noted to have been added to the Dow Jones Technology Titans 30 Index on the same date. Based on the closing stock price of June 20, 2003, the company is positioned within the top 50th percentile of the SOX.
Guidance, Outlook, and Management Commentary
Management commentary focuses on the prestige of the index inclusions rather than financial guidance. Lynn Morgen, Group Vice President of Corporate Development, stated that the selection reflects the company's performance track record and the global nature of the semiconductor industry. The filing notes recent honors, including inclusion in the Financial Times top 500 global companies and BusinessWeek's InfoTech 100 (one of only three semiconductor companies selected). No specific financial outlook, risks, or contingencies are detailed in this document.
Investor Verification Checklist
- Verify the effective date of inclusion in the SOX and Dow Jones Technology Titans 30 Index (June 23, 2003).
- Confirm the company's ranking within the SOX based on the June 20, 2003 closing price.
- Review the 2002 financial baseline ($6.32B revenue, $429.4M earnings) to contextualize current performance.
- Check for subsequent filings for 2003 interim financial results, as this 6-K contains no 2003 operational data.