Freescale＇s Second quarter sales will grow

Published:2012/4/23 4:28:00 Author:Ecco From:SeekIC

In the Freescale Semiconductor Inc.’s first quarter financial report, Freescale had a net loss in accordance with generally accepted accounting principles (GAAP) for the quarter of $9 million, or 4 cents per share. The net loss was wider than the previous quarter net loss of $6 million but narrowed compared to a net loss of $148 million in the first quarter of 2011.

Generally speaking, first quarter sales of $950 million reduced 6 percent from the previous quarter and down 20 percent from the first quarter of 2011. The GAAP net loss for the first quarter included $28 million in charges associated with completion of new financing.

Although Freescale’s sales in the quarter declined on both a quarterly and annual basis, the company indicated that sales would grow in the second quarter.

For the second quarter, Freescale announced that it wished sales to grow to between $975 million and $1.03 billion, up 3 to 8 percent sequentially. Finally, according to Yahoo Finance, Freescale’s second quarter guidance would be accorded with consensus analysts’ expectations.

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