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Electronics Production |

NXP with net loss of USD 118 million in 4Q/2010

NXP's reported net income for the fourth quarter of 2010 to be a loss of USD 118 million (USD minus 368 million in 4Q/2009; USD 369 million in 3Q/2010).

Revenue from continuing operations was USD 1,078 million, an increase of 1.0% from the USD 1,067 million reported in fourth quarter of 2009 and a decrease of 3.8% from the USD 1,120 million reported in the third quarter of 2010. Revenue in our Manufacturing Operations and Corporate and Other segments declined USD 44 million sequentially due to lower revenue in our breakeven manufacturing services business and the previously disclosed sale of our Nutune business. Fourth quarter of 2009 revenue included USD 130 million related to our divested Home segment. Gross profit from continuing operations for the fourth quarter of 2010 was USD 495 million, or 45.9% of revenue. This compares to USD 370 million, or 34.7%of revenue reported in the fourth quarter of 2009 and USD 476 million, or 42.5% of revenue reported in the third quarter of 2010. Operating income from continuing operations for the fourth quarter of 2010 was USD 106 million, or 9.8% of revenue. This compares to a loss of USD 216 million reported in the fourth quarter of 2009, or 20.2% of revenue, and an operating income of USD 106 million, or 9.5% of revenue as reported in the third quarter of 2010. 2010 Full-Year GAAP Results Revenue from continuing operations was USD 4,402 million, an increase of 25.1% from the USD 3,519 million reported for the full year of 2009. Gross profit from continuing operations was USD 1,823 million, or 41.4% of revenue. This compares to USD 898 million, or 25.5% of revenue reported in 2009. Operating income from continuing operations was USD 273 million, or 6.2% of revenue. This compares to a loss of USD 931 million a year ago, or 26.5% of revenue reported in 2009. Net income was a loss of USD 456 million, as compared to a loss of USD 167 million reported in 2009. First Quarter 2011 Outlook Product Revenue from continuing operations for the first quarter of 2011 is anticipated to be relatively flat as compared to the fourth quarter of 2010. Product Revenue from continuing operations is the combination of revenue from HPMS and Standard Products segments. Revenue in the Manufacturing Operations and Corporate and Other segments is anticipated to decline about USD 50 million in the first quarter due to lower revenue in our breakeven manufacturing services business and, to a lesser degree, the sale of our Nutune business in the fourth quarter. Non-GAAP operating income from continuing operations is anticipated to be flat to slightly up compared to the fourth quarter of 2010. ----- Note: As announced on December 22, 2010, NXP and Dover Corporation have reached a definitive agreement under which Dover’s affiliate Knowles Electronics will purchase NXP’s Sound Solutions business. As a result, comparative figures throughout this report have been restated to reflect Sound Solutions as a discontinued business. This business had previously been reported within the Standard Products segment.

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March 28 2024 10:16 am V22.4.20-2
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