NXP Semiconductors Reports Second Quarter 2016 Results
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NXP Semiconductors | | | | | | | |
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Table 1: Condensed consolidated statement of operations (unaudited) | | | | | | | |
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| | | ($ in millions except share data) | |
Three Months Ended | |
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July 3, 2016 | |
April 3, 2016 | |
July 5, 2015 | |
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Revenue | |
$ |
2,365 | | |
$ |
2,224 | | |
$ |
1,506 | | |
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| | | Cost of revenue | | | (1,266 | ) | | | (1,627 | ) | | | (782 | ) | |
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Gross profit | | |
1,099 | | | |
597 | | | |
724 | | |
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| | | Research and development | | | (416 | ) | | | (403 | ) | | | (195 | ) | |
| | | Selling, general and administrative | | | (283 | ) | | | (296 | ) | | | (167 | ) | |
| | | Amortization of acquisition-related intangible assets | | | (436 | ) | | | (367 | ) | | | (31 | ) | |
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Total operating expenses | | |
(1,135 |
) | | |
(1,066 |
) | | |
(393 |
) | |
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| | | Other income (expense) | | | 10 | | | | (2 | ) | | | 1 | | |
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Operating income (loss) | | |
(26 |
) | | |
(471 |
) | | |
332 | | |
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| | | Financial income (expense): | | | | | | | |
| | | Extinguishment of debt | | | (23 | ) | | | (3 | ) | | | - | | |
| | | Other financial income (expense) | | | (103 | ) | | | (113 | ) | | | 2 | | |
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Income (loss) before taxes | | |
(152 |
) | | |
(587 |
) | | |
334 | | |
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| | | Benefit (provision) for income taxes | | | 152 | | | | 199 | | | | (14 | ) | |
| | | Results relating to equity-accounted investees | | | 1 | | | | 1 | | | | 1 | | |
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| | | Net income (loss) | | | 1 | | | | (387 | ) | | | 321 | | |
| | | Less: Net income (loss) attributable to non-controlling interests | | | 14 | | | | 11 | | | | 21 | | |
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Net income (loss) attributable to stockholders | | |
(13 |
) | | |
(398 |
) | | |
300 | | |
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Earnings per share data:
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| | | Net income (loss) per common share attributable to stockholders in $: | | | | | | | |
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| | | Basic | | $ | (0.04 | ) | | $ | (1.16 | ) | | $ | 1.29 | | |
| | | Diluted | | $ | (0.04 | ) | | $ | (1.16 | ) | | $ | 1.23 | | |
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| | | Weighted average number of shares of common stock outstanding during the period (in thousands): | | | |
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| | | Basic | | | 341,299 | | | | 341,830 | | | | 232,681 | | |
| | | Diluted | | | 341,299 | | | | 341,830 | | | | 243,288 | | |
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