NXP Semiconductors Announces Third Quarter 2009 Results

Q3 Highlights

  • Q3 sales at USD 1,034* M versus USD 1,216* M in Q3 2008 (excl. wireless activities) and USD 857* M in Q2 2009.
  • Nominal QoQ sales (excluding wafer sales) increased by 20.7% and comparable QoQ sales increased by 19.2%. The increase in sales was visible across all business segments and regions.
  • Q3 adjusted EBITDA (excluding effects of Purchase Price Accounting and incidental items) was a profit of USD 147 M, compared to a profit of USD 147** M in Q3 2008 and USD 89 M in Q2 2009.
  • Q3 adjusted EBITA improved to a profit of USD 55 M compared to a profit of USD 15 M in Q3 2008 and a loss of USD 18 M in Q2 2009.
  • Q3 net income amounted to profit of USD 412 M compared to loss of USD 2,540 M in Q3 2008 and a profit in Q2 2009 of USD 344 M.
  • Cash position of USD 1,061 M at the end of Q3 compared to USD 1,373 M at the end of Q2 2009.
  • Factory loading of 69% in Q3 compared to 68% in Q3 2008 and 53% in Q2 2009.
  • Book to bill ratio at 1.11 in Q3 2009 compared to 1.20 in Q2 2009.

*) Excluding USD 43 M in Q3 2009, USD 38 M in Q3 2008 and USD 46 M in Q2 2009 wafer sales to ST-E Wireless

**) Including a loss of USD 22 M Adjusted EBITDA related to the divested Wireless activities

EINDHOVEN, Netherlands — (BUSINESS WIRE) — October 22, 2009 — NXP Semiconductors today announced third quarter sales of USD 1,034 million, a comparable increase of 19.2% and a nominal increase of 20.7% from the second quarter of 2009. While the effects of the economic and financial crisis continue to have an impact on the industry, the increase in sales on a sequential basis was visible across all business segments and regions.

Adjusted EBITDA in the third quarter of 2009 amounted to a profit of USD 147 million, which is in line with the profit of USD 147 million in the third quarter of 2008, and up from a profit of USD 89 million in the second quarter of 2009. Adjusted EBITA was a profit of USD 55 million this quarter compared to a profit of USD 15 million in the same period last year and a loss of USD 18 million in the previous quarter.

Net income for the third quarter of 2009 was a profit of USD 412 million compared to a loss of USD 2,540 million in the third quarter of 2008 and a profit of USD 344 million in the second quarter of 2009. The sequential increase in net income is largely attributable to a higher financial income as a result of the debt restructuring transactions during the quarter.

The cash position was USD 1,061 million at the end of the third quarter compared to USD 1,373 million at the end of the second quarter of 2009. The lower cash position largely reflects the bond buy back transactions undertaken in the quarter and the cash out as a result of the ongoing restructuring payments for the Redesign Program.

Outlook: although we have recently experienced improvements across all business segments and all regions we are yet to see signs that this represents a fundamental and sustainable improvement of the global semiconductor industry. Considering the current business development and the unusual characteristics of this fourth quarter, we expect a flat to mid single digit sequential sales increase in the fourth quarter of 2009 on a business and currency comparable basis (excluding wafer sales to ST-Ericsson). Visibility beyond the fourth quarter is still limited.

The full report is available on NXP website ( www.nxp.com/investor).

About NXP Semiconductors

NXP Semiconductors provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power, Digital Processing and manufacturing expertise. These innovations are used in a wide range of automotive, industrial, consumer, lighting, medical, computing and identification applications. Headquartered in Europe, the company has about 29,000 employees working in more than 30 countries and posted sales of USD 5.4 billion in 2008. News from NXP is located at www.nxp.com.



Contact:

NXP Semiconductors
Lieke de Jong-Tops, +31 40 27 25202 (Media)
Email Contact
Albert Hollema, +31 40 27 25610 (Investors)
Email Contact




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