Thursday, 6 March 2008

NXP Reports Q4 Results

NXP Semiconductors announced fourth quarter sales of EUR 1,162 million, a comparable growth of 1.9% over the third quarter of 2007 and a comparable increase of 9.3% over the fourth quarter of 2006.

“NXP has grown in line with the market this quarter and has delivered on its guidance. We have continued to strengthen the fundamentals of our business, exceeding EUR 100 million of cost savings in 2007 on a run rate basis, and are positioning ourselves well to weather the weak market, and to take advantage of any future upturn,” said Frans van Houten, President and CEO of NXP Semiconductors.

“In 2008, management will continue to improve the underlying fundamentals of our businesses. We expect to see further benefits from the aggressive deployment of our Business Renewal Program… we will continue to strengthen our product portfolio to enable organic growth.”

NXP said taking seasonal patterns into account; the company expects a 9% to 13% sequential sales decline in the first quarter of 2008 on a comparable basis. This translates into a year on year low single digit sales increase on a comparable basis.