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Electronics Production | May 03, 2007

NXP decrease sales by 4,4%

NXP Semiconductors has announced its first quarter 2007 results. Sales for the quarter amounted to EUR 1,115 million, a year-on-year decrease of 2.7% on a currency comparable basis and – 10.8% on a nominal basis.
The sequential decrease was 6.3% (excluding currency effects - 4.4%). Excluding the impact of Purchase Accounting, adjusted EBITA was a profit of EUR 3 million, compared to a profit of EUR 71 million in the first quarter of 2006.

Frans van Houten, President and CEO of NXP Semiconductors, commented, “The market remained challenging in the first quarter, especially for our Home and Mobile and Personal businesses. Sound performance continues to be shown by our Multimarket, Automotive and Identification businesses. We continue to aggressively position ourselves for the next industry upturn by forcefully executing on our Business Renewal strategy. We announced the closure of the Böblingen facility, consolidation of our Philippines industrial operations, and the completion of the acquisition of the Silicon Labs cellular business. In addition, we have won important new customers in our key growth businesses."

Our book to bill ratio was 1.03 in the first quarter. The factory utilisation was 69%.
Outlook: The market remains weak and seems to have bottomed out. Due to the short visibility of the order book, reflecting the current volatility in the industry, we expect flat to low single digit sales growth in the second quarter.

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