NXP Semiconductors (NXPI) Tops Q2 EPS by 7c; Guides In-Line

Late Wednesday, NXP Semiconductors (NASDAQ: NXPI) reported Q2 EPS of $1.44, $0.07 better than the analyst estimate of $1.37. Revenue for the quarter came in at $1.51 billion versus the consensus estimate of $1.51 billion.

NXP Semiconductors sees FY2015 EPS of $1.45-$1.55, versus the consensus of $1.49. NXP Semiconductors sees FY2015 revenue of $1.525-1.575 billion, versus the consensus of $1.6 billion.

"Our results in the second quarter of 2015 were very good, as NXP delivered total revenue of $1.51 billion and non-GAAP operating margin of nearly 28 percent. Revenue increased nearly 12 percent from the same period in the prior year, and increased about three percent from the prior quarter, in line with our guidance. Non-GAAP diluted earnings per share were $1.44, above the high-end of guidance, and we generated $262 million non-GAAP free cash flow," said Richard Clemmer, NXP Chief Executive Officer.

"During the quarter we achieved two significant milestones relating to the previously announced merger between NXP and Freescale Semiconductor. First, we announced the sale of NXP's RF Power business to JAC Capital, a fundamental requirement we anticipated to attain regulatory approval of the merger. Secondly, we achieved very strong shareholder approval for the proposed merger at our recent extraordinary shareholders meeting. The remainder of the regulatory approval process is progressing as we had originally anticipated and we believe we are on track to close the transaction in the fourth quarter of 2015. We continue to make very good progress on the integration planning of the two companies. We are excited about creating a true industry leader focused on delivering differentiated product solutions which we believe will create significant value for our customers and shareholders," said Clemmer.

For earnings history and earnings-related data on NXP Semiconductors (NXPI) click here.

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