NXP Semiconductors Reports Second Quarter 2019 Results

EINDHOVEN, The Netherlands, July 29, 2019 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the second quarter of 2019, ended June 30, 2019.

“NXP delivered revenue of $2.2 billion during the second quarter. With sales slightly better than the midpoint of our guidance, and good expense control, we successfully delivered improved operating profitability above the high end of our guidance range. Additionally, during the quarter we returned $716 million to our shareholders consistent with our long-term capital return policy. Looking forward, we continue to be optimistic that our product portfolio investments are addressing our customers’ long-term requirements, while in the short-term, the global demand environment has generally not improved,” said Richard Clemmer, NXP Chief Executive Officer.

Key Highlights

  • Revenue was $2.2 billion, down 3 percent year-on-year;
  • GAAP gross margin was 51.9 percent, and GAAP operating margin was 7.1 percent;
  • Non-GAAP gross margin was 53.3 percent, and non-GAAP operating margin was 28.9 percent;
  • Cash flow from operations was $517 million, with net capex investments of $106 million, resulting in non-GAAP free cash flow of $411 million;
  • On May 29, 2019, NXP announced it had entered into a definitive agreement to acquire Marvell’s Wireless Connectivity portfolio in an all-cash asset transaction valued at $1.76 billion.

Summary of Reported Second Quarter 2019 ($ millions, unaudited) (1)

            
            
    Q2 2019  Q1 2019  Q2 2018  Q - Q  Y - Y
  Total Revenue  $     2,217    $     2,094    $     2,290     6 %   -3 %
  GAAP Gross Profit  $     1,151    $     1,072    $     1,180     7 %   -2 %
 Gross Profit Adjustments (i) $  (30) $   (32 )   $   (30 )        
  Non-GAAP Gross Profit   $     1,181     $     1,104     $     1,210       7 %     -2 %
  GAAP Gross Margin     51.9 %     51.2 %     51.5 %        
  Non-GAAP Gross Margin     53.3 %     52.7 %     52.8 %        
  GAAP Operating Income / (Loss)   $     157     $     54     $     137       191 %     15 %
  Operating Income Adjustments (i)       (483 )       (505 )       (481 )        
  Non-GAAP Operating Income   $     640     $     559     $     618       14 %     4 %
  GAAP Operating Margin     7.1 %     2.6 %     6.0 %        
  Non-GAAP Operating Margin     28.9 %     26.7 %     27.0 %        
  Additional Information                    
  Automotive   $   1,031     $   1,036     $   1,143      0%    -10%
  Industrial & IoT   $   390     $   368     $   454      6%    -14%
  Mobile   $   297     $   241     $   238      23%    25%
  Comm. Infra. & Other   $   499     $   449     $   419      11%    19%
  Manufacturing Services ("MSA")   $   -     $   -     $   36     NM   NM
  DIO   100   113   111        
  DPO   67   74   90        
  DSO   32   35   31        
  Cash Conversion Cycle   65   74   52        
  Channel Inventory (months)   2.4   2.4   2.4        
  Financial Leverage (ii)   1.7x   1.7x   0.7x        
  1. Additional Information for the Second Quarter 2019 :

    1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »



Review Article Be the first to review this article
Aldec

Featured Video
Latest Blog Posts
Colin WallsEmbedded Software
by Colin Walls
Low power modes
Jobs
Electrical Engineer ‐  ASIC Layout  for SECOND SIGHT MEDICAL PRODUCTS at Sylmar, California
Principal Software Engineer (Middleware) for Alcon Research, LLC. at Lake Forest, California
Lead Validation Engineer for Alcon Research, LLC. at Johns Creek, Georgia
Electrical Engineer for SECOND SIGHT MEDICAL PRODUCTS at Sylmar, California
Product Applications Engineer for DiCon Fiberoptics, Inc. at Richmond, California
Nano-Optics Process Engineer for DiCon Fiberoptics, Inc. at Richmond, California
Upcoming Events
Embedded Systems Conference (ESC) Silicon Valley at San Jose Convention Center San Jose CA - Aug 27 - 29, 2019
Tech Symposium on RISC-V at Hotel Daniel Herzlia Tel Aviv Israel - Sep 5, 2019
PCB West 2019 at santa clara convention center Santa Clara CA - Sep 9 - 12, 2019
SEMICON Taiwan 2019 at TaiNEX Taipei Taiwan - Sep 18 - 20, 2019



Internet Business Systems © 2019 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+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