• Year-on-year comparable revenue growth 25% for NXP, 36% for High Performance Mixed Signal
• GAAP gross margin increased to 41.8 percent; non-GAAP gross margin rose to 42.8 percent
• GAAP operating margin increased to 10.7 percent; non-GAAP operating margin rose to 17.4 percent
• 12-month trailing adjusted EBITDA $972 million
• Net debt reduced $555 million this year to $3,687 million; $1billion in maturities extended to 2018
• Completed IPO in August; $450 million net proceeds to strengthen the balance sheet

In this release NXP presents financial performance on both a GAAP and non-GAAP basis (defined later in this release). A reconciliation of GAAP to non-GAAP numbers can be found later in this release.
Comparable growth is a non−GAAP financial measure that reflects the relative changes in sales between periods adjusted for the effects of foreign currency exchange rate changes and material acquisitions and divestments, as well as reclassified product lines.

Eindhoven, The Netherlands, November 2, 2010 –NXP Semiconductors N.V. (Nasdaq: NXPI) today reported financial results for its third quarter 2010, and provided guidance for the fourth quarter.

“The third quarter represented our sixth consecutive quarter of growth and significant operational improvement, as we continue to execute on our High Performance Mixed Signal solutions strategy,” said Richard Clemmer, NXP Chief Executive Officer. “Compared to the year ago quarter, revenue was up 25 percent on a comparable basis and NXP achieved 17.4 percent non-GAAP operating margin as we continued to see good results from our Redesign Program.

“Our success in winning new designs in our focus areas contributed to market share gains in High Performance Mixed Signal over the past year. We’ve seen particular success in identification, automotive entertainment and networking, microcontrollers, base stations and lighting markets. Our HPMS business represents 70 percent of NXP Product Revenue and is now operating at 56.5 percent non-GAAP gross margin and 23.1 percent non-GAAP operating margin, with room for further margin expansion. And we continue to see growth in new design wins in HPMS as customers turn to NXP to help them optimize their electronic end equipment. Product Revenue is the combination of our HPMS and Standard Products segments.

“We also made significant progress during the quarter in improving NXP’s capital structure. We completed an IPO with $450 million in net proceeds as well as a $1 billion bond offering which extended debt maturities to 2018. We generated $158 million in cash from operations during the quarter and since the end of last year, we have reduced net debt by $555 million,” Clemmer said.

Click here for full 3Q 2010 Results press release

About NXP Semiconductors

NXP Semiconductors N.V. (Nasdaq: NXPI) provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing expertise. These innovations are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. Headquartered in Europe, the company has approximately 28,000 employees working in more than 25 countries and posted sales of USD 3.8 billion in 2009.