NXP Semiconductors Reports First Quarter 2019 Results

EINDHOVEN, The Netherlands, April 29, 2019 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the first quarter of 2019, ended March 31, 2019.

“NXP delivered revenue of $2.1 billion during the first quarter, just above our guidance. Due to a richer mix of sales and good expense control, we successfully delivered improved profitability toward the higher end of our guidance range. Additionally, during the quarter we returned $788 million to our shareholders consistent with our long-term capital return policy. Looking forward, our second quarter guidance reflects the successful design win momentum and traction we have achieved with our customers. We continue to believe the demand environment in the second half of 2019 should improve versus the first half, but the macro-economic environment is still uncertain, especially in China.” said Richard Clemmer, NXP Chief Executive Officer.

First-quarter Key Highlights

  • Revenue was $2.1 billion, down 8 percent year-on-year;
  • GAAP gross margin was 51.2 percent, and GAAP operating margin was 2.6 percent;
  • Non-GAAP gross margin was 52.7 percent, and non-GAAP operating margin was 26.7 percent;
  • Cash flow from operations was $296 million, with net capex investments of $144 million, resulting in non-GAAP free cash flow of $152 million;

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

             
             
    Q1 2019  Q4 2018  Q1 2018  Q - Q  Y - Y 
  Total Revenue  $     2,094    $     2,403    $     2,269     -13 %   -8 %  
  GAAP Gross Profit  $     1,072    $     1,243    $     1,172     -14 %   -9 %  
 Gross Profit Adjustments (i) $  (32) $  (32) $  (28)     
  Non-GAAP Gross Profit  $     1,104    $     1,275    $     1,200     -13 %   -8 % 
 GAAP Gross Margin  51.2%  51.7%  51.7%         
  Non-GAAP Gross Margin     52.7 %     53.1 %     52.9 %          
  GAAP Operating Income / (Loss)   $     54     $     224     $     138       -76 %     -61 %  
  Operating Income Adjustments (i)       (505 )       (507 )       (479 )          
  Non-GAAP Operating Income   $     559     $     731     $     617       -24 %     -9 %  
  GAAP Operating Margin     2.6 %     9.3 %     6.1 %          
  Non-GAAP Operating Margin     26.7 %     30.4 %     27.2 %          
                         
  Additional Information                      
  Automotive   $   1,036     $   1,112     $   1,131       -7 %     -8 %  
  Industrial & IoT   $   368     $   435     $   426       -15 %     -14 %  
  Mobile   $   241     $   344     $   266       -30 %     -9 %  
  Comm. Infra. & Other   $   449     $   483     $   407       -7 %     10 %  
  Manufacturing Services ("MSA")   $   -     $   29     $   39       NM       NM    
  DIO     113       102       106       11       7    
  DPO     74       80       83       (6)       (9)    
  DSO     35       30       32       5       3    
  Cash Conversion Cycle     74       52       55       22       19    
  Channel Inventory (months)     2.4       2.4       2.4       -       -    
  Financial Leverage (ii)     1.7x       1.4x       0.8x       0.3x       0.9x    
                         

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »



Review Article Be the first to review this article
Aldec

 Advanced Asembly

Featured Video
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
What’s on Tap from the ESD Alliance? Plenty! Read On …
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Automating IP and SoC Development
Jobs
Entry Level SOC Verification Engineer for NXP Semiconductors at Austin (Oakhill, Office), Texas
SoC Physical Design Engineer for Qualcomm at Austin, Texas
Sr Engineer - RF/mmWave IC Design for Global Foundaries at Santa Clara, California
Principle Engineer (Analog-Mixed-Signal Implementation) for Global Foundaries at Santa Clara, California
ASIC Engineer for Amazon at seattle, Washington
Senior HID Sensor Algorithm Architect for Apple Inc at Cupertino, California
Upcoming Events
Simulation World at United States - Apr 20 - 21, 2021
Virtual ASMC 2021 at United States - May 10 - 12, 2021
DVCon China 2021 at Shanghai China - May 26, 2021
CadenceLIVE Americas 2021 at United States - Jun 8 - 9, 2021
True Circuits PHY



© 2021 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