NXP Semiconductors Reports Third Quarter 2016 Results


 Q3 2016 
Revenue$2.469 billion 
GAAP Gross margin 48.0% 
GAAP Operating margin 7.0% 
     
Non-GAAP Gross margin 50.5% 
Non-GAAP Operating margin 28.0
%
 

EINDHOVEN, The Netherlands, Oct. 26, 2016 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ:NXPI) today reported financial results for the third quarter 2016, ended October 2, 2016, and provided guidance for the fourth quarter of 2016. 

“NXP delivered very good results for the third quarter of 2016, with revenue at $2.47 billion, an increase of 62 percent year on year, an increase of four percent versus the prior quarter and essentially in-line with the mid-point of our guidance.  HPMS segment revenue was $2.1 billion, an increase of 80 percent year on year, and an increase of approximately four percent from the prior quarter.  Standard Product segment revenue was $320 million, a decrease of two percent year on year and an increase of six percent from the prior quarter.  Our GAAP diluted income per share was $0.26 because of positive fall through on incrementally higher revenue, improved operational execution and strong operating expense control.  We generated $718 million in operating cash flow during the quarter, and invested $98 million in net capex, resulting in non-GAAP free cash flow of $620 million, or 25 percent of revenue.  During the quarter, we returned cash to shareholders, by repurchasing $555 million or approximately 6.5 million shares of our stock,” said Richard Clemmer, NXP Chief Executive Officer.

“On a comparable basis, taking into account the Freescale merger and product line divestures, total revenue was down approximately three percent year on year, notwithstanding our Automotive operating segment which delivered five percent year on year comparable growth.  We believe we have begun to see incremental positive trends in most of our businesses with comparable sequential revenue up over four percent into the third quarter. 

“In summary, I am pleased with the progress we continue to achieve, our efforts relative to the merger integration and targeted synergy capture continues to be very positive. Customer feedback on the benefits the combined portfolio can deliver are very encouraging, and we believe we are ideally positioned to achieve our long term goals,” said Clemmer.

Summary of Reported Third Quarter 2016 Results ($ millions, unaudited)

               
               
     Q3 2016  Q2 2016  Q3 2015  Q - Q  Y - Y  
               
   Total Revenue  $   2,469    $   2,365    $   1,522     4.4 %   62.2 %   
               
   GAAP Gross Profit  $   1,184    $   1,099    $   740     7.7 %   60.0 %   
                     
    Gross Profit Adjustments (1)   $ (63 )   $ (84 )   $ (8 )            
                             
    Non-GAAP Gross Profit   $   1,247     $   1,183     $   748       5.4 %     66.7 %    
                             
    GAAP Gross Margin     48.0 %     46.5 %     48.6 %            
                             
    Non-GAAP Gross Margin     50.5 %     50.0 %     49.1 %            
                             
    GAAP Operating Income / (Loss)   $   174     $   (26 )   $   375       NM       -53.6 %    
                             
    Operating Income Adjustments (1)     (517 )     (632 )     (74 )            
                             
    Non-GAAP Operating Income   $   691     $   606     $   449       14.0 %     53.9 %    
                             
    GAAP Operating Margin     7.0 %     -1.1 %     24.6 %            
                             
    Non-GAAP Operating Margin     28.0 %     25.6 %     29.5 %            
                             
                             

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11  Next Page »
Featured Video
Jobs
CAD Engineer for Nvidia at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Upcoming Events
SEMICON Japan 2024 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2024
PDF Solutions AI Executive Conference at St. Regis Hotel San Francisco - Dec 12, 2024
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise