EINDHOVEN, The Netherlands, Aug. 02, 2021 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the second quarter 2021, ended July 4, 2021.

"NXP delivered second-quarter revenue of $2.6 billion, an increase of 43 percent versus the year-ago period, and better than the mid-point of our guidance. We continue to be very positive about the long-term demand trends across all our end markets, and while the supply environment will remain challenging in the near term we have taken actions to increase supply which underpin our confidence to drive very robust growth for the remainder of 2021, as well as into 2022,” said Kurt Sievers, NXP President and Chief Executive Officer.

Key Highlights for the Second-quarter:

• Revenue was $2.6 billion, up 42.9 percent year-on-year;
• GAAP gross margin was 54.8 percent, and GAAP operating margin was 22.1 percent;
• Non-GAAP gross margin was 56.1 percent, and non-GAAP operating margin was 32.0 percent;
• Cash flow from operations was $636 million, with net capex investments of $150 million, resulting in non-GAAP free cash flow of $486 million;
• Capital return of $1.4 billion to shareholders through previously announced share repurchases and dividend payments. Subsequent to the end of the second quarter, between July 5, 2021 and August 2, 2021, NXP executed via a 10b5-1 program additional share repurchases totaling $1.0 billion.
• On May 27, 2021, the NXP Board of Directors approved the payment of an interim dividend for the second quarter 2021 of $0.5625 per ordinary share;
• On May 11, 2021, NXP issued unsecured notes for a total amount of $2 billion. The amount is split into two notes: a green bond of $1 billion that matures in 2031 and $1 billion maturing in 2041. Net proceeds were $1,978 million.
  
  

Summary of Reported Second Quarter 2021 ($ millions, unaudited ) ⁽¹⁾