NXP Semiconductors Announces Realignment of Busine
Post# of 28537
EINDHOVEN, THE NETHERLANDS--(Marketwired - Apr 11, 2013) - NXP Semiconductors N.V. (
- Movement of product line General Purpose Logic (GPL) from segment High Performance Mixed Signal (HPMS), end-market Portable & Computing to segment Standard Products.
- Movement of product line NXP Software from Corporate and Other to segment HPMS, end-market Industrial & Infrastructure.
In addition, to enable improved comparisons of underlying operating performance relative to industry peers, the company will exclude stock-based compensation from its GAAP to non-GAAP reconciliation.
The impact of these changes are reflected in the summary tables below and detailed in the attached tables based on the company's most recent reported financial results for the fourth quarter and full-year 2012, ended December 31, 2012. A full reconciliation of the impact of the changes to reported historical financial results is provided on NXP's investor relations website, under the "Financial Results" section at http://investors.nxp.com .
Reclassified Results for the Fourth Quarter and Full Year 2012 ($ millions, except EPS, unaudited)
| Q4 2012 | Q3 2012 | Q4 2011 | Q - Q | Y - Y | 2012 | 2011 | Y - Y | |||||||||||||||||||||||
| Product Revenue | $ | 1,072 | $ | 1,120 | $ | 868 | -4.3 | % | 23.5 | % | $ | 4,144 | $ | 3,869 | 7.1 | % | ||||||||||||||
| Manufacturing Operations | $ | 43 | $ | 49 | $ | 62 | -12.2 | % | -30.6 | % | $ | 211 | $ | 316 | -33.2 | % | ||||||||||||||
| Corporate & Other | $ | 1 | $ | 1 | $ | 1 | 0.0 | % | 0.0 | % | $ | 3 | $ | 9 | -66.7 | % | ||||||||||||||
| Total Revenue | $ | 1,116 | $ | 1,170 | $ | 931 | -4.6 | % | 19.9 | % | $ | 4,358 | $ | 4,194 | 3.9 | % | ||||||||||||||
| GAAP Gross Profit | $ | 490 | $ | 536 | $ | 389 | -8.6 | % | 26.0 | % | $ | 1,988 | $ | 1,906 | 4.3 | % | ||||||||||||||
| Gross Profit Adjustments (1) | $ | (25 | ) | $ | (7 | ) | $ | (34 | ) | $ | (8 | ) | $ | (81 | ) | |||||||||||||||
| Non-GAAP Gross Profit | $ | 515 | $ | 543 | $ | 423 | -5.2 | % | 21.7 | % | $ | 1,996 | $ | 1,987 | 0.5 | % | ||||||||||||||
| GAAP Gross Margin | 43.9 | % | 45.8 | % | 41.8 | % | 45.6 | % | 45.4 | % | ||||||||||||||||||||
| Non-GAAP Gross Margin | 46.1 | % | 46.4 | % | 45.4 | % | 45.8 | % | 47.4 | % | ||||||||||||||||||||
| GAAP Operating Income | $ | 33 | $ | 168 | $ | 7 | -80.4 | % | 371.4 | % | $ | 412 | $ | 357 | 15.4 | % | ||||||||||||||
| Operating Income Adjustments (1) | $ | (192 | ) | $ | (76 | ) | $ | (150 | ) | $ | (422 | ) | $ | (476 | ) | |||||||||||||||
| Non-GAAP Operating Income | $ | 225 | $ | 244 | $ | 157 | -7.8 | % | 43.3 | % | $ | 834 | $ | 833 | 0.1 | % | ||||||||||||||
| GAAP Operating Margin | 3.0 | % | 14.4 | % | 0.8 | % | 9.5 | % | 8.5 | % | ||||||||||||||||||||
| Non-GAAP Operating Margin | 20.2 | % | 20.9 | % | 16.9 | % | 19.1 | % | 19.9 | % | ||||||||||||||||||||
| GAAP Net Income / (Loss) | $ | (116 | ) | $ | 115 | $ | (182 | ) | NM | NM | $ | (115 | ) | $ | 390 | NM | ||||||||||||||
| Net Income Adjustments (1) | $ | (258 | ) | $ | (39 | ) | $ | (250 | ) | $ | (592 | ) | $ | (65 | ) | |||||||||||||||
| Non-GAAP Net Income / (Loss) | $ | 142 | $ | 154 | $ | 68 | -7.8 | % | 108.8 | % | $ | 477 | $ | 455 | 4.8 | % | ||||||||||||||
| GAAP EPS | $ | (0.47 | ) | $ | 0.45 | $ | (0.73 | ) | NM | NM | $ | (0.46 | ) | $ | 1.57 | NM | ||||||||||||||
| EPS Adjustments (1) | $ | (1.03 | ) | $ | (0.16 | ) | $ | (1.00 | ) | $ | (2.34 | ) | $ | (0.23 | ) | |||||||||||||||
| Non-GAAP EPS | $ | 0.56 | $ | 0.61 | $ | 0.27 | -8.2 | % | 107.4 | % | $ | 1.88 | $ | 1.80 | 4.4 | % | ||||||||||||||
1) Please see "Discussion of GAAP to non-GAAP Reconciliation"
Reclassified Supplemental Information (revenue, $ millions, unaudited)
| Q4 2012 | Q3 2012 | Q4 2011 | ||||||||
