NXP Semiconductors announces indicative prelim Q2 2010 results

EINDHOVEN, THE NETHERLANDS: NXP Semiconductors has announced its indicative preliminary second quarter 2010 results.

NXP total sales were between $1,190 and 1,200 million in the second quarter of 2010, reflecting comparable growth of between 5.5 percent and 6.4 percent, and nominal growth of between 2.1 percent and 3 percent, as compared to the first quarter of 2010. The increase was visible across all business segments and regions.

Income from operations (IFO) was a profit of between $87 and $93 million in the second quarter of 2010, compared to nil in the first quarter of 2010. IFO in the second quarter of 2010 included depreciation and amortization, excluding PPA effects, which aggregated to a total charge of $85 million, compared to $108 million in the first quarter of 2010.

Depreciation and amortization in the second quarter of 2010 included $1 million related to depreciation of property, plant and equipment from disposals that occurred in connection with our restructuring activities and other incidental items, compared to $21 million in the first quarter of 2010.

NXP’s cash position at the end of the second quarter of 2010 was $842 million compared to $870 million at the end of the first quarter of 2010. The cash position was impacted by interest payments in the second quarter amounting to $110 million and unfavourable translation effects on liquid assets of approximately $50 million.

NXP’s total debt amounted to $5,055 million at the end of the second quarter compared to $5,177 million at the end of the first quarter of 2010. The decrease in total debt was due to the exchange rate differences at the end of the second quarter of 2010.

The actual second quarter results may differ materially from these second quarter estimates.