NXP reports revenue of USD 931 million in 4Q
© NXP”Looking back over 2011, NXP successfully achieved several key initiatives laid out at the time of our IPO. First, we outpaced the growth of our comparable peer group as full year Product Revenue increased nearly 4 percent year-on-year. Secondly, we made good progress on our margin expansion goals, as our ongoing focus to lower manufacturing costs and align operating expenses enabled NXP to deliver nearly a 31 percent increase year-on-year in GAAP operating income. Lastly, we significantly improved our capital structure as net debt declined by $597 million or 16 percent versus 2010 and we de-risked our short-term maturity profile through refinancing actions related to our 2013 maturities,” said Richard Clemmer, NXP Chief Executive Officer, “Furthermore, despite the significant inventory correction during the second half of 2011, we continue to experience very strong customer adoption of our technology, a validation of our strategic direction, which we believe, will enable the continued transformation of NXP.”During the fourth quarter NXP delivered revenue of $931 million, essentially in-line with the mid-point of our original guidance. We are cautiously optimistic that our customers and channel partners have made major progress in the process of aligning their on-hand inventory to end-market demand. While the broader macro-environment continues to be uncertain, we are encouraged by the somewhat improved order rates so far into the current quarter. Additionally, several NXP-specific design opportunities, across our entire product portfolio are coming into clearer focus, which should enable the company to outperform the market growth in 2012.” said Clemmer.