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Electronics Production | April 24, 2006

Freescale reports stronger sales

Freescale Semiconductor's net sales in the first quarter of 2006 were $1.53 billion, compared to $1.48 billion in the fourth quarter of 2005 and $1.44 billion in the first quarter of 2005.

"The Freescale team executed well in the first quarter," said Michel Mayer, chairman and CEO. "We are starting to see momentum in a number of key areas and our earnings growth continues to be strong." Net earnings for the first quarter of 2006 were $212 million, or $.50 per diluted share, which included incremental stock based compensation expense of $.04 per diluted share associated with the company's adoption of SFAS 123R. Also included in the first quarter 2006 net earnings is an after-tax gain of $7 million ($.02 per diluted share) as a cumulative effect of a change in accounting principle associated with the company's adoption of SFAS 123R. This compares to results, reported without option expense, of $192 million or $.45 per diluted share in the fourth quarter of 2005 and $85 million or $.20 per diluted share in the first quarter of 2005. Click here to read the full report.
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