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© begemot 30 dreamstime.com Business | February 04, 2016

NXP's sales for 2015 passed $6 billion

NXP Semiconductors has reported its financial results for the fourth quarter and the full-year 2015, as well as provided guidance for the first quarter of 2016. This is also the first fiscal report following the merger with Freescale.
“The end of 2015 brought to a close a year filled with significant accomplishments and a few challenges for NXP. During the fourth quarter we successfully completed the previously announced merger with Freescale Semiconductor. NXP is now the clear market leader in automotive, microcontroller and security semiconductor solutions. Notwithstanding our success, we faced an uncertain macro demand environment during the second-half of 2015. Despite this, we continued to outperform the overall industry. Looking forward, our task is to continue to outgrow the market despite the uncertain environment,” said Richard Clemmer, NXP Chief Executive Officer.

On a full-year basis, NXP delivered revenue of USD 6.1 billion, up 8 percent from 2014, including the benefit of approximately one month of revenue contribution from Freescale. Revenue from our strategic HPMS segment was USD 4.72 billion, up 12 percent year-on-year, with nearly all of the operating segments delivering positive growth for the year.

Standard Product segment revenue was USD 1.24 billion, down 3 percent versus the prior year. Full-year non-GAAP operating profit and non-GAAP earnings were both up strongly versus 2014. Non-GAAP operating income was USD 1.68 billion, up 19 percent versus the prior year, and non-GAAP earnings per share were USD 5.60, up nearly 18 percent versus 2014, and non-GAAP free cash flow was USD 996 million.

Looking at our results for the fourth quarter 2015, revenue was USD 1.61 billion, up 4 percent year-on-year, and up nearly 6 percent versus the prior quarter. HPMS segment revenue was USD 1.31 billion, up 12 percent from the same period a year ago, as well as sequentially. Standard Product segment revenue was USD 271 million, down 18 percent from same period a year ago and down 17 percent sequentially.

In spite of weaker revenue trends, non-GAAP diluted earnings per share were USD 1.25, reflective of better gross margin and solid expense control resulting in improved profit fall-through. Additionally we generated USD 180 million non-GAAP free cash flow.
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