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© daimy dreamstime.com Components | October 26, 2012

NXP Semiconductors Q3 profit down

NXP Semiconductors N.V. reported 3Q net income of USD 115 million, compared to USD 301 million for the same period in 2011.
Adjusted net income for the quarter was USD 142 million, compared to USD 126 million (3Q/2011). Total revenues were USD 1.17 billion, versus USD 1.06 billion in the comparable period last year.

Looking forward to the fourth quarter, the company expects revenues to be between USD 1.06 - 1.13 billion.

“We are pleased with our performance during the third quarter of 2012 as we delivered Product revenue of $1,114 billion, a nine percent sequential increase, and nearly a fifteen percent increase from the comparable year ago period. Total NXP revenue was $1,170 million, a seven percent sequential increase, and a ten percent increase from the comparable year ago period. Our growth in the quarter was in-line with the mid-point of our tightened guidance range, a direct reflection of the company specific design opportunities we have previously highlighted. Although, over the intermediate term we believe the continued uncertainty of the macro environment may limit growth in the more cyclically exposed portions of our business. We remain committed to improving our cost and expense structure, which should result in improved free cash flow. Our strategy continues to be focused on providing unique and differentiated product solutions to enable our customers success, which over the longer-term should allow NXP to outpace the cyclical growth of the overall semiconductor market,” said Richard Clemmer, NXP Chief Executive Officer.

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