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20
January
2006

Freescale pleased but not yet satisfied

Fourth quarter 2005 results include an $8 million reversal of a write-down of receivables the company determined were impaired due to the bankruptcy of the U.S. subsidiaries of the Delphi Corporation originally recorded in the third quarter of 2005.
“We delivered on our commitments in 2005," said Michel Mayer, chairman and CEO. "We are pleased with this performance, but clearly are not yet satisfied. We are focusing on a number of initiatives to enhance operating results and grow revenues in 2006 and beyond."

Net sales in the fourth quarter of 2005 were $1.48 billion, compared to $1.45 billion in the third quarter of 2005 and $1.43 billion in the fourth quarter of 2004. For the year, net sales were $5.84 billion compared to $5.72 billion in 2004.

Operating earnings for the fourth quarter of 2005 were $202 million or 13.7% of net sales compared to $152 million for the third quarter of 2005 and operating earnings of $15 million for the fourth quarter of 2004, inclusive of fourth quarter 2004 restructuring charges and separation expenses of $84 million.

Net earnings for the fourth quarter of 2005 were $192 million, or $.45 per fully diluted share, compared to $164 million or $.38 per fully diluted share in the third quarter of 2005 and $5 million or $.01 per fully diluted share in the fourth quarter of 2004.
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