NXP Semi (NXPI) Says Trident Ch. 11 Filing Will Have No Material Impact
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NXP Semiconductors N.V. (Nasdaq: NXPI) reports it currently does not anticipate the recently announced Chapter 11 filing by Trident Microsystems to have a material impact on its non-GAAP results for the fourth quarter of 2011.
Based on the equity accounting methodology used to account for NXP's equity interest in Trident Microsystems, and irrespective of the Chapter 11 filing, the carrying value of the investment on NXP's balance sheet is anticipated to be zero as of the end of the fourth quarter of 2011, compared to the approximately $18 million as of the end of the third quarter 2011.
Based on the equity accounting methodology used to account for NXP's equity interest in Trident Microsystems, and irrespective of the Chapter 11 filing, the carrying value of the investment on NXP's balance sheet is anticipated to be zero as of the end of the fourth quarter of 2011, compared to the approximately $18 million as of the end of the third quarter 2011.
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