April 24, 2019 / 5:24 AM / a month ago

BRIEF-STMicroelectronics Q1 Operating Income Decreased 21.6% To 211 Million USD

April 24 (Reuters) - STMICROELECTRONICS NV:

* Q1: NET REVENUES $2.08 BILLION; OPERATING MARGIN 10.2%; NET INCOME $178 MILLION (REMOVES EXTRANEOUS WORDS AND ERRONEOUS COMPARISON)

* REG-STMICROELECTRONICS REPORTS 2019 FIRST QUARTER FINANCIAL RESULTS

* CASH DIVIDEND OF $0.24 PER COMMON SHARE PAYABLE IN EQUAL QUARTERLY INSTALLMENTS PROPOSED TO 2019 AGM

* Q2 BUSINESS OUTLOOK AT MID-POINT: NET REVENUES UP ABOUT 2.4% Q/Q AND GROSS MARGIN OF ABOUT 38.5%

* Q1 OPERATING INCOME DECREASED 21.6% TO $211 MILLION, COMPARED TO $269 MILLION IN THE YEAR-AGO QUARTER.

* OUR OBJECTIVES IN 2019 ARE TO OUTPERFORM OUR SERVED MARKET AND TO DELIVER SUSTAINABLE PROFITABILITY

* IN 2019, ST'S CAPEX IS EXPECTED TO BE APPROXIMATELY $1.1 TO $1.2 BILLION.

* NET FINANCIAL POSITION (NON-U.S. GAAP) WAS $510 MILLION AT MARCH 30, 2019 COMPARED TO $686 MILLION AT DECEMBER 31, 2018 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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