NXP announces Q3 results

30/10/17

NXP Semiconductors has announced its results for the third quarter ended 1 October 2017.

Revenue was US$2.39bn, a decline of 3% year-on-year, and up 8% on the previous quarter.

The company’s Secure Connected Devices group saw revenues reach US$713 million, up 20% year-on-year driven by demand for both mobile transaction and general purpose MCU products. Its Secure Interface and Infrastructure group achieved Q3 revenues of US$488 million, a rise of 3% year-on-year. Its Secure Identification Solutions group saw Q3 revenues of US$139 million, down 22% on last year's results.

A year ago, NXP announced its transaction with Qualcomm. “We believe that working together with Qualcomm, given the complementary product portfolios of the combined company will enable us to better support our customers’ long-term requirements in both autonomous driving and secure IoT,” says Richard Clemmer, chief executive officer, NXP. “We are working diligently with Qualcomm and the various regulators towards a successful close this year. However, at this point the timetable is very tight and there is a possibility for the closing to occur in early 2018.”

Peter Kelly, chief financial officer, NXP, says: “In the third quarter, our GAAP operating margin was 6.8%, a 20-basis point decline from the third quarter of 2016 due to the divestment of our Standard Products business. Our non-GAAP operating margin was 30.8%, representing a 280-basis point improvement compared to the third quarter of 2016 and a 240-basis point improvement sequentially. And finally, due to lower gross debt and cash generation in the quarter, our overall financial leverage was reduced to 1.1x.”

 

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NXP announces Q3 results
NXP announces Q3 results

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