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February 25, 2010

NXP Semiconductors Q4 revenue up 12.6% to $1.13bn

Posts net loss of $349m compared to $649m for same period last year

By CBR Staff Writer

NXP Semiconductors has reported total revenue of $1.13bn for the fourth quarter of 2009, an increase of 12.6% compared to $979m of the same period last year.

The company’s gross margin increased to 38.6%, from 21.6% in Q4 2008. Adjusted EBITDA was $171m compared to $41m for the same period a year ago.

For the fourth quarter, the company posted a net loss of $349m compared to a loss of $649m in the same period last year.

For the FY09, the company reported revenue of $3.7bn, compared to $5.3bn in 2008. Adjusted EBITDA stood at $336m, compared to $485m in 2008.

Rick Clemmer, chief executive officer of NXP, said: “In the fourth quarter, we saw for the first time in the last 6 quarters, a year on year growth on a comparable basis. We built on the momentum of Q3 and saw continued growth in almost all business segments. This was preceded by a tough first half of the year where the business was significantly impacted by the global economic and financial crisis.

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“The success to date of the accelerated and expanded Redesign Program, the execution of our strategic focus on high performance mixed signal, improvements in our capital structure and our agility to respond to market conditions, sees us enter 2010 with more confidence, better focused and better equipped to win.”

The company expects sales to be flat to slightly up in the first quarter of 2010 on a business and currency comparable basis.

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