Freescale Semiconductor Pushed in Loss by Buyout Costs
Freescale Semiconductor has reported that its net sales for the first quarter of 2008 were $1.41 billion, compared to $1.54 billion in the fourth quarter of 2007 and $1.36 billion in the first quarter of 2007. “Despite a challenging economic environment, the Freescale team executed well delivering solid margins, EBITDA and cash flow,” said Rich Beyer, chairman and CEO.
Including expenses from the recent buyout by a private equity firm, the operating and net losses for the first quarter of 2008 were $152 million and $245 million, respectively.
Excluding the aforementioned expenses, first quarter 2008 operating earnings were $206 million and EBITDA was $351 million in the first quarter of 2008. This compares to operating earnings of $149 million and EBITDA of $300 million in the first quarter of 2007.
During the fourth quarter of 2007, the company completed a company-wide realignment of its sales, business, supply chain and manufacturing operations to better enable execution of its strategic growth initiatives.
- Microcontroller net sales were $458 million in the first quarter of 2008, compared to $467 million in the fourth quarter of 2007 and $473 million in the first quarter of 2007.
- RF, Analog and Sensor net sales were $259 million in the first quarter of 2008, compared to $260 million in the fourth quarter of 2007 and $259 million in the first quarter of 2007.
- Networking and Multimedia net sales were $269 million in the first quarter of 2008, compared to $303 million in the fourth quarter of 2007 and $274 million in the first quarter of 2007.
- Cellular net sales were $318 million in the first quarter of 2008, compared to $361 million in the fourth quarter of 2007 and $268 million in the first quarter of 2007.
- Other net sales were $101 million in the first quarter of 2008 compared to $148 million in the fourth quarter of 2007 and $87 million in the first quarter of 2007.
Posted to the site on 23rd April 2008