STMicroelectronics Reports 2006 Fourth Quarter and Full Year Revenues and Earnings

At December 31, 2006, ST's cash and cash equivalents, marketable securities, short-term deposits and restricted cash equaled $2.9 billion. Total debt was $2.1 billion. ST's net financial position** improved by approximately $536 million in 2006 to $761 million. Shareholders' equity was $9.7 billion at December 31, 2006.

    (*) Net operating cash flow is a non-US GAAP metric, which the Company's
    management utilizes as a measure of cash generation capability. It is
    defined as net cash from operating activities ($559  million in the fourth
    quarter of 2006) minus net cash used in investing activities (primarily
    capital expenditures) excluding restricted cash, payments for purchase of
    and proceeds from the sale of marketable securities and  investment in and
    proceeds from matured short-term deposits ($402  million in the fourth
    quarter of 2006).

    (**) Net financial position is a non-US GAAP metric used by the Company's
    management to help assess financial flexibility. It is defined as cash and
    cash equivalents, marketable securities, and short-term deposits and
    restricted cash ($2,891 million) minus total debt (bank overdrafts $0
    million + current portion of long-term debt $136 million + long-term debt
    $1,994 million).

    Net Revenues by Market Segment for Q4 and Full Year 2006

The following table estimates, within a variance of 5% to 10% in the absolute dollar amount, the relative weighting of each of the Company's target market segments for the fourth quarter and full year 2006.

                    Market Segment           % of Net Revenues
                                            Q4 2006     FY 2006
                    Automotive                 15%         15%
                    Consumer                   17%         16%
                    Computer                   17%         17%
                    Telecom                    36%         38%
                    Industrial & Others        15%         14%

For the fourth quarter, Consumer was the fastest growing segment sequentially, increasing by about 5%. Industrial and Others and Computer were both up approximately 2% over the prior quarter. Automotive was essentially flat while Telecom declined 6.5% from the prior quarter.

For the year, Telecom was the fastest growing segment, increasing nearly 19%, followed by Industrial and Others, which was up 10%. Automotive, Computer and Consumer all increased approximately 6%.

Financial and Operating Data by Product Segment for Q4 and Full Year 2006

The following tables and commentary provide a breakdown of revenues and operating income by product segment.

    In Million US$                                  Q4 2006
                                                   % of Net     Operating
    Segment                          Net Revenues  Revenues     income (loss)

    ASG (Application Specific
     Product Groups)*                    $1,342      54.0%          $111
    MPA (Micro, Power & Analog)**           597      24.1%           103
    MPG (Memory Products Group)             525      21.1%             0
    Others (1)(2)                            19       0.8%           (41)

    TOTAL                                $2,483       100%          $173

Sequentially, Application Specific Product Groups' revenues decreased 2%, MPG sales declined 0.8%, and MPA sales increased 0.3%. Operating profit declined to $111 million for Application Specific Product Groups and $103 million for MPA. MPG was breakeven. Flash memory sales declined 1.6% from the prior quarter to $369 million.

    In Million US$                                  Full Year 2006
                                                   % of Net     Operating
    Segment                          Net Revenues  Revenues     income (loss)

    ASG (Application Specific
     Product Groups)*                    $5,396      54.7%           $439
    MPA (Micro, Power & Analog)**         2,243      22.8%            362
    MPG (Memory Products Group)           2,137      21.7%             34
    Others (1)(2)                            78       0.8%           (158)

    TOTAL                                                          $9,854              100%                      $677

        *  Automotive;  Computer  Peripheral;  and  Home,  Personal,  and  Communication
        products

        **  Effective  January  1,  2006  the  Microcontroller,  Linear  and  Discrete
        (MLD)  Group  was  renamed  as  the  Micro,  Power  and  Analog  (MPA)  product
        segment  to  better  reflect  product  portfolio  focus  and  increased
        capabilities  in  advanced  Analog.  No  change  occurred  in  the  Group's
        perimeter  or  organization.

        (1)  Net  revenues  of  "Others"  include  revenues  from  sales  of  Subsystems  and
        other  products  not  allocated  to  product  segments.

        (2)  Operating  loss  of  "Others"  includes  items  such  as  impairment,
        restructuring  charges,  and  other  related  closure  costs,  start-up  costs,
        and  other  unallocated  expenses  such  as  strategic  or  special  research  and
        development  programs,  certain  corporate-level  operating  expenses,  certain
        patent  claims  and  litigations,  and  other  costs  that  are  not  allocated  to
        the  product  segments,  as  well  as  operating  earnings  or  losses  of  the
        Subsystems  and  Other  Products  segment.  Certain  costs,  mainly  R&D,  formerly
        in  the  "Others"  category,  have  been  allocated  to  the  segments.
 


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