NXP Semiconductors Reports First Quarter 2012 Results
|GAAP Gross margin||43.4%|
|GAAP Operating margin||5.6%|
|GAAP Earnings/(Loss) per share||($0.10)|
|Non-GAAP Gross margin||44.3%|
|Non-GAAP Operating margin||14.4%|
|Non-GAAP Earnings per share||$0.19|
- Trailing twelve month adjusted EBITDA $1,004 million
- Net debt reduced $707 million year-on-year to $3,047 million
- Ratio of net debt to trailing 12-month adjusted EBITDA at 3.0x
Eindhoven, The Netherlands, April 26, 2012 – NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the first quarter of 2012, ended April 1, 2012, and provided guidance for the second quarter 2012.
“We are pleased with our performance in the first quarter of 2012 as we delivered revenue of $978 million, which was near the upper end of our original guidance range. We believe NXP is in the early stages of a positive cyclical rebound, but more importantly we are beginning to see tangible acceleration of company specific design-wins driven by the material adoption of our technology. This has resulted in an improvement in order rates with many of our customers and across nearly all product lines. We are encouraged that our efforts over the last few years are delivering tangible results as demonstrated by a combination of our first quarter results and our outlook for the second quarter. We continue to believe the combination of our unique product portfolio, applications knowledge and customer focus should enable NXP to grow in excess of the overall semiconductor industry,” said Richard Clemmer, NXP Chief Executive Officer.