In Q4 we did publish results in line with the guidance, however we had to face pretty severe fab underloading. So our fabs were not full and therefore this affected our gross margin in a very significant way. Now all in all, we have a very strong financial position and our own financial position is close to $1.3 billion net cash.So it was tough environment, but we have managed to adapt and keep a very strong financial position. This is the way our business is organized. I am in charge of the digital sector, so that part of the company plus Corporate Strategy Officer and we have also the automotive business, the analog and microcontroller business which includes what we call extreme analog, the MEMS and also we have the power discrete and the wireless business is what we have in our joint venture with Ericsson
STMicroelectronics' Management Presents At UBS European Technology Conference (Transcript)
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