NXP swings to Q2 operating profit

* Q2 income from operations $93 mln vs $217 mln loss

* Sales $1.2 billion vs $903 million last year

AMSTERDAM, Aug 17 (BestGrowthStock) – Dutch chipmaker NXP
Semiconductors NV (NXPI.O: ), which had a difficult IPO debut in
the United States this month, swung to a second quarter
operating profit compared with a loss last year.

The firm, which broke even at the operating level in the
first quarter, said it continued to see healthy demand from a
broad base of customers but was receiving mixed signals from a
few clients, indicating slowing demand.

It said overall demand, bolstered by increased design wins,
was greater than current capacity. Additional capacity was being
readied but will have a limited impact in the third quarter.

“Our expectation is that total comparable sales will be
relatively flat on a sequential basis, and will show an increase
of 20-25 percent on a year over year basis,” NXP said, adding
that adjusted income from operations was seen rising 7-13
percent.

NXP, whose customers include Apple Inc (Read more about Apple stock future.) (AAPL.O: ), Bosch and
Huawei Technologies Co Ltd [HWT.UL], was created by a leveraged
buy-out in 2006 as Dutch electronics group Philips (PHG.AS: )
divested the businesses that made parts for its radios,
television and other equipment for over 50 years.

Philips still has a 17 percent stake, while private equity
firms KKR, Bain, SilverLake, Apax and AlpInvest own a combined
69 percent and there is a free float of 14 percent.

Richard Clemmer was installed as CEO by KKR in 2009 as the
company struggled under the weight of debt taken on before and
after its leveraged buyout.
(Reporting by Marcel Michelson; Editing by David Cowell)

NXP swings to Q2 operating profit