Freescale Semiconductor reported Q1 net sales of $1.41 billion, compared to $1.54 billion in the fourth quarter of 2007 and $1.36 billion in the first quarter of 2007. Operating earnings, net earnings and Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) include non-cash purchase accounting expenses related to the company's acquisition by a private equity consortium in December 2006. The company believes that providing operating earnings and EBITDA exclusive of these expenses, and certain other items, is a more meaningful representation of the company's ongoing financial performance. Including these expenses, the operating and net losses for the first quarter of 2008 were $152 million and $245 million, respectively.
"Despite a challenging economic environment, the Freescale team executed well delivering solid margins, EBITDA and cash flow," said Rich Beyer, chairman and CEO.
Some highlights:
- Microcontroller net sales were $458 million in the first quarter of 2008, compared to $467 million in the fourth quarter of 2007 and $473 million in the first quarter of 2007.
- RF, Analog and Sensor net sales were $259 million in the first quarter of 2008, compared to $260 million in the fourth quarter of 2007 and $259 million in the first quarter of 2007.
- Networking and Multimedia net sales were $269 million in the first quarter of 2008, compared to $303 million in the fourth quarter of 2007 and $274 million in the first quarter of 2007.
- Cellular net sales were $318 million in the first quarter of 2008, compared to $361 million in the fourth quarter of 2007 and $268 million in the first quarter of 2007.
- Other net sales were $101 million in the first quarter of 2008 compared to $148 million in the fourth quarter of 2007 and $87 million in the first quarter of 2007.
