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© designersart dreamstime.com Components | April 28, 2015

Freescale Semiconductor Q1 profit soars

Freescale has reported yet another solid quarter. The first quarter of 2015 marked the company's third quarter in a row with record gross margins.
Net sales for the first quarter of 2015 were USD 1.17 billion, compared to USD 1.10 billion in the fourth quarter of 2014 and USD 1.13 billion in the first quarter of 2014.

Operating earnings for the period were USD 179 million, compared to USD 178 million in the fourth quarter of 2014 and USD 155 million in the first quarter of 2014. Operating earnings were in line with the prior quarter. On a year-over-year basis, operating earnings benefitted from higher sales and improving gross margins. Gross margin was 47.3%.

Net earnings for the first quarter were USD 70 million, compared to net earnings of USD 63 million in the fourth quarter of 2014 and a net loss of USD 23 million in the first quarter of 2014.

“First quarter results marked another quarter of solid execution for Freescale,” said Gregg Lowe, president and CEO. “Revenue and earnings per share both showed strong sequential and year over year improvement. First quarter product revenue grew 6 percent year-on-year, starting off 2015 with another quarter of market share growth. In addition, the increase in gross margin represents the ninth consecutive quarter of growth in margins, and is the third quarter in a row of record gross margins.”
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