ST(US:STM)2021-01-28 12:44Financial Performance Highlights - Q4 2020 net revenues reached $3.24 billion, a 21.3% sequential increase, exceeding the high end of the outlook by 580 bps[7] - The gross margin for Q4 2020 was 38.8%, 30 bps above the midpoint of the projected range[7] - FY 2020 net revenues increased by 6.9% to $10.22 billion, driven by stronger than expected demand in the second half of the year[7] - FY 2020 gross margin was 37.1%, with a net income of $1.1 billion[7] Outlook and Strategy - Q1 2021 net revenues are projected to be $2.93 billion, representing a 31.2% year-over-year increase[7] - The gross margin for Q1 2021 is expected to be approximately 38.5%[7] - The company plans for solid revenue growth in FY 2021, outperforming the markets it serves[7] - Capital expenditures for FY 2021 are planned between $1.8 billion and $2 billion to meet market demand and advance strategic initiatives[77] Financial Position - The company's net financial position was $1.1 billion[7] - Free cash flow for FY 2020 was $627 million, including CAPEX of $1.28 billion[7]