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NXP Semiconductors Reports 3Q 2019 Results

Revenue was $2.3 billion, down 7% year-on-year, while GAAP gross margin was 52.4%.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

NXP Semiconductors N.V. reported financial results for the third quarter of 2019, ended Sept. 29, 2019.

Revenue was $2.3 billion, down 7% year-on-year. GAAP gross margin was 52.4%, and GAAP operating margin was 10.3%. Non-GAAP gross margin was 53.7%, and non-GAAP operating margin was 30.3%.

Cash flow from operations was $746 million, with net capex investments of $115 million, resulting in non-GAAP free cash flow of $631 million.

“NXP delivered revenue of $2.3 billion for the third quarter. With sales near the high-end of our guid-ance and good expense control, we successfully delivered improved operating profitability above the high-end of our guidance range. Additionally, during the quarter we returned $79 million to our share-holders, for a total of $6.6 billion returned to shareholders since July 2018,” NXP CEO Richard Clemmer said.

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