Freescale Semiconductor (FSL) Tops Q1 EPS by 3c

Freescale Semiconductor (NYSE: FSL) reported Q1 EPS of $0.27, $0.03 better than the analyst estimate of $0.24. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.09 billion.

Freescale Semiconductor sees FY2014 revenue of $1.14-1.2 billion, versus the consensus of $1.13 billion.

"We continue to see solid progress on our initiatives to increase revenue and improve gross margin,” said Gregg Lowe, president and CEO. “All five product groups generated revenue growth sequentially and year over year. With a 15 percent year-over-year growth in revenue, the company continues to make strides in gaining market share.

“Our results continue to benefit from margin expansion and deleveraging efforts, as our sequential revenue increase of 4 percent drove an adjusted earnings per share growth of 42 percent.”

For earnings history and earnings-related data on Freescale Semiconductor (FSL) click here.

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