STMicro reports 80% net income growth in 2021
The Semiconductor manufacturer reported fourth quarter net revenues of USD 3.56 billion, gross margin of 45.2%, operating margin of 24.9%, and net income of USD 750 million.
ST Microelectronics' fourth quarter revenues amounted to USD 3.56 billion, an increase of 9.9% compared to the same quarter in 2020. Gross profit for the quarter was USD 1.60 billion, an increase of 28.3% from the fourth quarter the year before. Net income ended up at USD 750 million during the last quarter of 2021, and increase of 28.9% from USD 582 million during 4Q20.
For the full year ST managed to record revenues of USD 12.76 bill billion, an increase of 24.9% från the previous year. Gross profit for the quarter was USD 15.32 billion, an increase of 40.6% from USD 3.78 billion in 2020. Net income ended up at USD 2.0 bullion in 2021, and increase of a staggering 80.0% from USD 1.20 billion during last year.
"ST’s first quarter outlook, at the mid-point, is for net revenues of $3.50 billion, increasing year-over-year by 16.1% and decreasing sequentially by 1.6%; gross margin is expected to be about 45.0%," says Jean-Marc Chery, STMicroelectronics President & CEO, in the fiscal report.
The CEO continues to say that the company plans to invest about USD 3.4 billion to USD 3.6 billion in CAPEX to further increase its production capacity and to support initiatives including the first industrialisation line of its new 300mm wafer fab in Agrate, Italy.
"Based on our strong customer demand and increased capacity, we will drive the Company based on a plan for FY22 revenues in the range of $14.8 billion to $15.3 billion,” Jean-Marc Chery concludes.