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NXP releases 4Q08 results
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NXP semiconductors announced its 4Q08 results Monday, March
2, 2009.
This year’s 4Q sales were at US$979 million against 4Q07 earnings of US$1,678 million.
4Q08 numbers were also down from 3Q08, with those numbers totalling US$1,216 million, including a cash position of US$1,535 million at the end of 3Q08. 4Q08 ended with a US$1,796 million cash position, including US$400 million drawn down from NXP’s revolving credit facility.
While knowledge of the future is limited, a 30-40% sequential sales decline is expected in 1Q09 after a poor 4Q, due also to a slump in the semiconductor industry. Since the fiscal 2009 is expected to be less successful than 2008, in addition to the high cost of the company’s Redesign Program, a reduced liquidity is also predicted.
The entire 4Q08 report can be found at the NXP website (www.nxp.com/investor).