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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (5139)	1/23/2003 8:50:01 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

STMicro sticks to flat billion-dollar capex for 2003 By Peter Clarke, Semiconductor Business News January 23, 2003 PARIS -- STMicroelectronics, Europe's leading chipmaker, has opted to keep 2003 capital expenditure at about $1 billion, which would be around the same level as the company's 2002 expenditure, in line with previous expectations and coincidentally in accordance with Infineon Technologies AG (see January 22 story). STMicroelectronics financial results for 2002, published yesterday (see January 22 story ), were well received by the markets, as the company chalked up sales revenue for the year of $6.32 billion and made a net profit of $429.4 million. The company revealed that it had spent $224.8 million in the 2002 fourth quarter and $995.5 million in the full year on capital expenditure. “We significantly reduced capital expenditures in 2002 to ensure that our resources were aligned with market demand, and we reaffirm our projection that 2003 capex will approximate 2002 levels," said Pasquale Pistorio, ST's president and chief executive officer in a statement.