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NXP Semiconductors Reports 2Q 2015 Results

Records revenue of $1.51 billion, non-GAAP operating margin of nearly 28%.

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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 second quarter ended July 5, 2015, as well as provided guidance for the third quarter of 2015.
 
“Our results in the second quarter of 2015 were very good, as NXP delivered total revenue of $1.51 billion and non-GAAP operating margin of nearly 28%. Revenue increased nearly 12% from the same period in the prior year, and increased about 3% from the prior quarter, in line with our guidance. Non-GAAP diluted earnings per share were $1.44, above the high-end of guidance, and we generated $262 million non-GAAP free cash flow,” said Richard Clemmer, NXP CEO.
 
“During the quarter we achieved two significant milestones relating to the previously announced merger between NXP and Freescale Semiconductor,” Clemmer added. “First, we announced the sale of NXP’s RF Power business to JAC Capital, a fundamental requirement we anticipated to attain regulatory approval of the merger. Secondly, we achieved very strong shareholder approval for the proposed merger at our recent extraordinary shareholders meeting. The remainder of the regulatory approval process is progressing as we had originally anticipated and we believe we are on track to close the transaction in the fourth quarter of 2015. We continue to make very good progress on the integration planning of the two companies,” said Clemmer.

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